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Nicholes Wong
02 Mar 2019
Diploma in Business Management at Nanyang Polytechnic
If you are taking care of them with your monthly income, you should get insurance that protect your loss of income. Term insurance for death, critical illness and hospitalization plan for medical conditions and disability income for when you are disabled and unable to work.
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Get insurance for your parents before it is too late. Personal accident is good to have too, as the elderly are more vulnerable to falls and accidents.
And then term insurance on your own life so they still have money to live on should anything happen to you.
Disability income / income-replacement is also a good one only if you still have budget left.