For Wise Heads on Young Shoulders

Early to mid 20s

You’re in your 20s. You have a new career. You don’t have many financial liabilities other than your car or student loan. Plus your parents don’t rely on you for anything.

So why bother with life insurance now, right?

Well, just because you’re young doesn’t mean you’re invulnerable. Although chance is on your side, you’ll be glad you have life insurance if the unexpected happens. Especially when it can be so cheap!

Insurance you need:
Medical Insurance
You may already have one from your employer. But they usually have very low claim limits. Best to get one of your own for better coverage.
Term Life Insurance (optional)
If your parents or siblings depend on you financially, you need life insurance. In case something happens to you, a lump-sum payout will really help.
Critical Illness Insurance (optional)
One doesn’t have to be older to become ill. If you agree life insurance is a good idea, CI cover will go a long way in assisting your recovery if such an event occurs.



Invest in unit trusts or roboadvisers.

Now is a good time to save a proportion of your income to put towards investments. We do not recommend an investment-linked policy to do this (it’s really expensive) but do consider unit trusts or investment services provided by roboadvisers licensed by the Securities Commission. If unsure, consult a licensed financial planner.