What age to buy insurance

Type of insurnace to get in sequence:

1. hospitalization (medishield and integrated plans)
2. death / TPD with CI
3. personal accident
4. income

Hi anon,

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Risks will always occur as long as you live.

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So as long as you have catastrophic risks to protect against, one can never be too young to buy insurance.

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So a newborn can and should get coverage, starting with an integrated shield plan at a minimum.

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I used to look at education planning for a new born, but having seen multiple cases over the years, my focus has shifted to insuring infants with Critical Illness coverage. That should be the next thing to look at for infants. The money, should your child fall sick, is not for the child, but rather for the parent to have the option to take time off work to care for the child during the recovery. On top of that, infants would typically be healthy and insurable.

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Following that would be a PA plan for kids since children can and do get into minor accidents as they grow up.

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For most adults, CI and shield plan will be a must. Death/TPD cover if you have liabilities and dependents.

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Of course, all this is provided that the cashflow of the family can afford it.