For the past year and in recent months, I have been in and out of hospitals more times than I have in my whole life. This really sets me back thinking hard. With the ever-rising medical costs, will I be able to afford should anything happen to my family or me?

A report released by Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) showed that the inflation rate increased by 4.2% year-on-year in May 2013 [Source: Singapore’s Inflation Up 1.6% On-Year In May 2013]. However, I believe many people’s salary do not rise at the same rate or even higher.