You promised to take care of each other. Life insurance is a way to keep that promise if the unexpected happens.
Now, in the most financially productive time of your life, is the time to prepare for that. Especially if you are also financially supporting others, e.g. ageing parents, a younger sibling who is still studying, or a non-working spouse.
Make hay whilst the sun shines! After getting a roof over your head, invest your excess funds into unit trusts or robo-adviser funds. If you’re in your 20s, 30s and even early 40s, your investment horizon is at least 20 years, so you can invest in equity funds that generate higher returns over a longer time period.
Do not try to insure and invest using the same product like investment-linked policies. Keep your insurance separate from your investments, it’s much cheaper and flexible that way. If you are not sure why, read our article on it, and consult a licensed financial planner.