As a FT perm employee, my company would have Term insurance to cover death, critical illness and permanent disability. It is still necessary for me to buy my own Term insurance when I'm employed?

Health insurance - by law employer's insurance should pay first and in excess, your personal insurance.

Term insurance - you can claim from both sides, and get the the payout in cash, do what you want with it.

​

Hope this helps! Also if you want to compare term plans can refer to this chart: https://plannerbee.co/best-term-life-insurance-...

Usually companies will purchase insurance for their employees usually under law/regulations or so that they can have resources to find replacement/pay for hospital bills for employee if anything happens i.e. corporations are the beneficiary.

​

Risk for individual here is if the condition is long term/recurring or if one loses his or her employment - what about his/her other beneficiaries (e.g. oneself and family).

​

The reason why ppl claim first from company insurance where possible is because so that their own personal insurance premium will not increase in price/invalidated (or not renewed/invalidated) after the claim (preventing subseuquent claims). If not mandatory by law (i.e. staff got hurt outside work time/hours), employer likely will also choose not to activate claims. Nobody would want their premiums to hike.