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Old 29-12-2017, 10:31 AM   #4
Arch-Supremacy Member
Join Date: Jun 2010
Posts: 12,868
For most ppl it will be 65/70 in the case of CI cover
OK, but CI (and ECI) are the "LED lights" in this analogy. Focus on defending against real, catastrophic, calamitous risks. For the vast majority of working people that's your health (Integrated Shield public hospital B1 "as charged" is fine), your income potential (Disability Income Insurance), and, if and only if you have dependents who wouldn't be able to cope on their own with your untimely demise, your life (simple term life insurance). Later on it's longevity risk, the risk of outliving your savings (CPF LIFE).

Is anything else essential, in terms of insurance products? I don't think so. Maybe supplemented ElderShield if you're chugging along and, at age 40, not amassing enough savings to defend against possible long-term care needs, such as nursing care to help you bathe. Travel medical insurance (I like Bupa Basic currently) if you venture outside Singapore. But the "Big 3" (hospitalization, DII, and term life if you have a dependent) is an excellent core set.
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