31F, married, no kids and not planning to have kids, no dependents (parents or spouse) and have HPS seeking opinions,

Hi, it will be best to review your financial objectives for wealth protection. also, if you are not planning to have children, then wealth enhancement/accumulation such as retirement planning is the next BIG thing on your plate. Speak to a certified financial adviser to evaluate your priorities and options for complete financial planning.

Hi anon,

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You probably want to keep your shield plan rider, although I don't know what your exact financial circumstances are.

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For $1.3K a year, you can probably get reasonable CI coverage only on a term plan, although the exact cost depends on how long you want the coverage for.

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I would not surrender the WLs as their payout values increase over time and compound. Your NTUC plan is probably the Living policy which would have tremendous compounding effect by now, in a similar vein, your GE plan only has 5 years left and you are done but it continues to cover you.

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Look at it this way, in 5 years, your GE premiums end and you have an additional free cash flow of $2K a year. So you can either bite the bullet and get a term plan that may be more than the $1.3K budget you have set for now, but will be manageable in 5 years, or you can get something now that fits your budget, and something else in 5 years time, provided you are still insurable.

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Lastly, if you're not spending more than 10% of your income on coverage, you should be fine. It doesn't mean you must spend the minimum possible however. Getting the right amount of coverage is essential. If your budget seems tight, you might be overspending elsewhere.

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Hope that helps!