I am trying to convince a 40 years old unmarried friend to get life insurance cos she do not have any family in Singapore and do not even own a property. Can someone advise?

First, ask yourself why you will buy if you are in her shoes.

Find out what her needs.

if she doesn't have the need, then there is no reason for her to buy.

PS. Presume she already covered her medical and hospital insurance.

Hi Elena,

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Just need to ask her some simple questions:

• If she fell sick, how will she continue to sustain herself while recovering?
• If she became permanently disabled due to some accident and unable to work for good, what is her plan after that?
• What's her plan if she becomes incapacitated in old age due to dementia or something similar?

Just ask the questions and leave it to her to figure it out.

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The answers to these, I'm sure you know where they lie. But as the chinese saying goes, you can bring a horse to a river, but you cannot force the horse to drink from it.

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You've already done your part in trying to convince her. It's up to her to see the value in your wisdom.

Why life insurance when she doesn't have dependents? She is already 40 years old. She is better off buying medical insurance (enhanced shield) to cover risk of large medical expenses, term insurance which is much lower cost for death, permanent disability and use the "premiums" she is prepared to set aside to do her own investment.

Try to convince ultimate is the decision of hers