facebookI’m a 21 year old NSF, I have Integrated Shield with AXA & some investment. Should I get a Whole Life insurance? - Seedly



27 Feb 2020


I’m a 21 year old NSF, I have Integrated Shield with AXA & some investment. Should I get a Whole Life insurance?

Should I be looking to get a whole life insurance policy at this stage in life? Or should I be looking at getting other policies/focusing on other aspects of personal finance first?

Discussion (9)

What are your thoughts?

Loh Tat Tian

Loh Tat Tian

27 Feb 2020

Founder at PolicyWoke (We Buy Insurance Policies)

The opportunity cost to life insurance currently is still low. (except for insurability).

It starts to be expensive once you get to age 28 and by age 32, the premium increment to coverage is high. Make your play, since life insurance is for dependents and liabilities (like loans to be paid off).

Look into growing your income if possible. Investment is only worth it once you have at least $200,000 capital for dividend and management of the investment funds for returns.

Please read widely whether Life Insurance is really a good idea, there are many disadvantageous points to acknowledge:




26 Feb 2020

Life Science at National University of Singapore


First thing first, since you're in NS, have you gotten the group term life policy? That would suffice in terms of death coverage as you can get up to $1 million for coverage!

And at 21, you should be focusing on other aspects of your personal finance and use insurance to manage your risks. For example, making sure you have enough emergency cash for a rainy day and a happiness fund to fund what you like.

Do reach out if you're interested in finding out more about how you can work both your personal finance and maximise your assets and wealth!

Speaking from a layman point of view, it is important to know what you wish to cover. An integrated health plan and hospital plan, personal accident, critical illness are all important. Whole life and term life insurance only makes sense if you need to make sure your dependants are provided for should you die from causes covered by the life plans. Of course, buying life insurance early locks in cheaper premiums, but only do so once you start earning enough to afford the premiums. I would actually suggest going for a retirement savings plan - saving early locks down lower premiums and you will have a much larger nest egg when you retire.

Emmelia Elyxis Lim

Emmelia Elyxis Lim

16 Feb 2020

Senior Financial Consultant at Financial Alliance

Hi Anon!

Congrats on sorting out your Integrated Shield plan!

At your current stage in life, get...

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