Should I keep Aviva MINDEF Group Insurance? Is it enough?

Here my current plans under Aviva Mindef Group Insurance. My monthly salary is 5k and I am aged 25. I pay monthly premium of $57 for these plans:

Group Term Life: Existing coverage @ S$1,000,000
Group Personal Accident: Existing coverage @ S$600,000
Group Living Care: Existing coverage @ S$200,000
Group Living Care Plus: Existing coverage @ S$200,000

I have a few questions:

Should I keep all my current policies?
Are my current policies sufficient assuming my monthly salary is 5k?
Should I get disability income from Aviva?
Do I need to additionally get whole life insurance? If so, should I replace my current Aviva policies or add on to them?

Thank you very much in advance.

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JeffreyLeeZQ

19 Apr 2021

Writer at Jeffreyleezq.com

If you are interested you can check out my insurance review post for the year 2021 here: My Insurance Review (2021) - A Kiasu Approach

You can also check out my 2020 post here, in which I highlighted some brief pros and cons of the Aviva Mindef Group Insurance.

My post hightlights some of my reasonings that were considered on my end for why a particular policy was chosen etc.

Cheers.

- Jeffrey (jeffreyleezq.com)

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L

16 Apr 2021

I keep the term life and PA as these benefits can be passed to your family if anything happens. Living care should be quite restrictive scope so it might not be useful, but the premium is cheap.

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