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Anonymous
At what age do you think is the most appropriate time to have and pay for your own insurance?
Out of your own pocket. Especially for those middle income young adults who cannot depend on their parents
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Ow Jie Liang
23 Dec 2020
Student Ambassador 2020/21 at Seedly
The best day to have insurance is yesterday. paying for them should ideally be when you have a disposable income, it can be a full time job or some side hustles. good luck!
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Elijah Lee
19 Dec 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi anon,
Once you have positive cash flow from your regular income, you can start to explore getting coverage already. I also know of people who start to pay from their savings first while waiting to start at their first job.
In the end, it is up to you. As long as you have sufficient liquidity, then there should be no issues to start getting covered early.
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Jiayee
16 Dec 2020
Salaryman at some company
Once I start working.
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Benjamin Goh
15 Dec 2020
Financial Consultant at Prudential
Hi anon it really depends but as a general rule of thumb, when you start earning some money, whether...
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As long as you have some disposable income and you are still healthy. The premiums are cheap the earlier to start to get yourself covered.
You do not want to over-insure as you will be wasting money. I would highly suggest you use a layered approach to build your coverage. With each life stage, your goals and financial objectives change so your plans need to evolve as well.