Is the public group insurance scheme from Aviva the best for those in their 20s?

For premiums that are tiered by age bands, group insurance is much more affordable at a younger age but may get expensive when older. You will need to do your own calculations. Also, you need to verify that the coverage is similar to that of private insurance.

What do you define as "best"?

I feel the group insurance scheme is relatively affordable till about age 60? After that, one will start thinking about retirement. Our health insurance (ISP) is one policy which will increase as we age, I would not want to worry about increased premiums for another insurance plan if possible as well. But good thing is, we probably need coverage till about 60-65 when our dependents should be old enough to support themselves and our liabilities should be at its lowest already.

According to the FAQ Q15 (https://www.aviva.com.sg/content/dam/aviva-publ...), only $150k will be paid out to our NOK. Any coverage amount above that will be distributed according to letter of probate / admin. Or you could write a will if you find its not too much of a hassle. Read from another question that if you were to leave the public service, your coverage would end. How confirmed are you that you will be in the public service till retirement?

CI riders and definitions will always follow the new updates (may be good / not so good?). ECI riders will only cover 10 conditions vs personal insurance which will cover conditions multiple times of that so personally I feel, ECI rider may not be worth it here.

Oh and one more thing to note, you wouldn't be able to use this to exempt yourself from paying for the Home Protection Scheme if you were to pay for your house using your CPF OA.

Personally, as long as one is still insurable, I feel it is always good to just buy your own personal insurance from an agent then you can use this group policy as a "top up" if you really need more but as you age, you have other commitments andfeel that maybe you do not have so much $$ to spare for insurance.

Hope that helps in your decision making!