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Anonymous

24 Mar 2025

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Term Insurance + Critical illness

Can someone in their late twenties, who hasn't worked a full-time job for around five years, still purchase term life insurance and critical illness insurance? If yes, how much would be the coverage?

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Johnny

27 Mar 2025

Why not? As long as you are able to for pay it. If default payment, the policy would just lapsed and be terminated, nothing to lose for them.

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Sireatsalot

27 Mar 2025

Yes, you will still be able to purchase term life and critical illness insurance. It is not dependent on whether or not you are employed. It will be dependent on whether you have any pre existing injuries. And also what sort of employment you will be undertaking in the future such as dangerous jobs etc. Speak to a financial consultant who will be better able to advise you on the details.

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Seedly Rookie

Edited 27 Mar 2025

Yes, purchase is still possible. Coverage amount depends on your personal situation, needs, lifestyle etc ...

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Kent Toh

26 Mar 2025

Consultant at Sprinklr

As mentioned by others, it doesn't matter whether you have FT job. The Life Insurance Association of Singapore (LIA) recommends coverage equivalent to 9 times your annual income for death and total permanent disability (TPD), and 4 times your annual income for critical illness.

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Adam Tay

25 Mar 2025

Insurance doesn't care about your financial. As long you can pay every month, then it applied. If yo...

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