I am 32/m current thinking of making my parents life more comfortable?

NTUC Silver care - Seems like a PA plan to me. I'm not sure.. might be good to cover their medical expenses if they meet into any accidents.

Top up the CPF RA or Medisave - This would be to build up their RA for their CPFLife.. Might be the most direct way of making your parents life more comfortable as they are assured of a steady stream of income.

Buy Term Insurance - Term insurance on their life at this age would be generally expensive and you or your siblings might be the beneficiaries in the event of death, so it would mean that your life would be better in the future instead of theirs. if you are looking at CI Cover, the premiums are going to be really high too..Might be better off self-insuring or if it is a priority to you then ask your agents for a quote as reference.

Buy investment plan - This is not an outright bad idea, however do allocate only a portion of their retirement monies for it. you or your parents must be ready that this amount of money, if it is lost, it is okay.

Don't allocate a substainal portion of money and one will feel very lost / sad / if it is lost or does badly..

Recommendations:

1. Hosptial Cash Insurance - Helps to supplement daily allowance, if your parents are hospitalized in any occasion.

2. Lifelong income Insurance - You can be the one who purchases these plans and when the payout comes, you can pass the monthly money income to them. After they pass on, as long as you live, you can still take monthly income. Paired together with the foundation of CPF life, they dont have to work so hard for monthly income.

3. Increase their Hospitalization cover- so that you will never have to worry about hospital bills if something strikes.​​​

Hard to associate insurance with comfortable but if a peace of mind counts as comfort, then yes.

Some things you may want to consider:

1. Getting everyone covered with a hospital plan.

2. Upgrading your parents' ElderShield to CareShield (at end-2021).

Your parents do not need term life insurance because they do not have dependents anymore. Also, it is very expensive to buy one at their age. It makes more sense for them to preserve their wealth instead.

It's nice of you to top up their CPF RA and/or Medisave. I am not sure how I should choose between those two... if your mum is likely to need Medisave to foot her medical bills, then a Medisave top-up seems more timely.

I would not introduce investment plans to my parents as I want them to be able to enjoy every cent of their hard-earned monies anytime they want. Instead, I introduced them to no/low-risk accounts to attempt to combat inflation e.g. Singlife Manage.

I just took a quick look at NTUC Silver Care. Looks good to me... but I don't think I can fully assess its usefulness right now ): I will need to study it in a greater detail. One question I have is: Does this overlap with the PA insurance? Can't help but feel like only one of them is needed...