Trust Estate

Singapore Insurer Erodes Taboo Over Death, Inheritance

Editorial Staff, 22 April 2019

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For high net worth individuals and others who are reluctant to discuss death and succession planning, an insurance firm focused on the HNW segment is rolling out a campaign to get the conversation going.

An insurance firm in Singapore is trying to shake high net worth individuals out of their reluctance to talk about death and old age. Etiqa Insurance Singapore has unveiled a new campaign, featuring online videos to get people to talk about transferring business and wealth.

A series of online videos feature people bickering intensely in various scenarios, such as a family squabbling in their living room and key business leaders arguing in the board room after an individual has passed on. The deceased person amazingly comes to life and expresses regret for not planning earlier or leaving a proper legacy, but it's too late.

"Legacy Planning is an important consideration when developing a sound financial strategy. However, most people don't think about what they'd like to leave behind, or how they can do it effectively," Simon Ashton, head of partnerships distribution at Etiqa Singapore, said. "Our ad campaign highlights the unfortunate outcomes of not having appropriate succession plans in place, using a more light-hearted approach than is normally seen for this important subject,” he said. 

The campaign suggests that the taboo subject of death can be a problem for wealth owners, who find opening up to younger relations about future inheritance and business transfer issues difficult. 

"There never seems to be a good time to think about what life will be like for those closest to you when you're no longer around. Many people underestimate just how complicated their finances can be for their loved ones to deal with - and distribute as per their wishes - after they're gone. With Premier by Etiqa, you can now plan ahead to protect your business, provide a fair and equitable distribution of wealth to loved ones and create a meaningful legacy for the next generation," Ashton said. 

The campaign breaks mid-April across print, digital, out-of-home and free-to-air TV. A new website offers detailed illustrations of the various legacy planning solutions available. This will be followed by personalised marketing initiatives and events targeted at high net worth individuals.

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