Let me just state this.
There are people out there who get paid only if they appear for work. If they don't show up, they don't get paid.
There are also people who are in debt. They owe credit cards, maybe even licensed money lenders. Or they may have mortgages which they pay by cash, not by CPF.
Remember that these money lenders will harass them and their families the MOMENT a single late payment is incurred. There are no excuses tolerated. Lockdown, coronavirus, loss of job, unable to travel, social distancing directives, etc, are NOT accepted.
Not everyone has the option of working from home.
Not everyone has the option of driving to work and avoiding public transport.
Not everyone is able to find a face mask to wear.
Not everyone is able to abide by social distancing because of the nature of their occupation.
These people may have mouths to feed and they may be the sole breadwinner of the family. They may be in debt. And no bank, no moneylender, no mortgage provider, will accept covid-19 as excuse for missed or late payment.
If there is a lockdown or extreme social distancing is enforced, these people will not be able to earn an income.
Within 1 week, they may run out of fresh food to feed their families.
Within 1 month, money lenders will come knocking.
Within 2 months, ALL insurance policies they have, excluding those with significant cash values, will be terminated due to non-payment of premiums. This may be a time when they need those policies the MOST.
Within 3 months, credit card late fees will start racking up till sky high and warning notices will be issued. Their credit rating will plummet to HH score.
Within 6 months, lawyer letters will start to come in and HDB will threaten to take away their homes if they don't clear ALL of their mortgage payment BACKLOG.