What is one insurance hack fresh grads should absolutely know?

Don't go for health screenings if there is no medical need, or if the company or school does not require it. Esp in this current climate, they can be traps that will turn up all sorts of minor things that insurers WILL exclude u for, on the basis that this random minor bacteria or virus with no symptoms that probably half of sg has anw MAY cause cancer in the future. So dont think health screenings can only be good for u - they can hurt you.

Source: my friend got excluded from coverage from certain cancers that can be caused by a relatively innocuous virus that had no symptoms but which turned up in what should have been a routine health check. He has no cancer right now but if he has it in the future insurance will NOT cover it.
No it was not hep b or herpes. Over 90% of singaporeans have been exposed to it and yet the insurers still excluded. Google and u can make a good guess.

NEVER MIX INSURANCE WITH INVESTMENT.

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yeap that is right, in CAPS.

My hack is simple: when purchasing insurance, ask for specifics. General advice will not do it for you. Not all CI policies are the same. Not all whole life policies are the same. Etc, etc. If someone recommends you something, ask many questions. Ask rudely, ask boldly, but ask.

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A lot of people here have said not to mix your investments and insurance together, but it's incredibly subjective.

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The same people have talked about the benefits of private annuities, where insurance is very much in the mix (payouts increase signficantly upon claim).

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Different mixes have different outcomes. Manipulating a Net Sum at Risk ILP can result in costs that are lower than Vanilla Unit Trusts. You can also do away with AUM fees. You can have your investment paid for you the entire length of a waiver. Different people want different things, and not everyone wants the time consuming burden of learning another language in the form of investment literacy.

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So when you do devote your precious, quantitatively valuable time to a financial advisor to address your insurance need, ask away and get it before its too late.

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• Get insurance earlier when you are younger
• Do not mix insurance and investments
• Try to go with an agent that has been the industry for a longer period. I seen too many fresh grads starting out and quoting 2 years in. Sure you get a replacement agent but it’s not the same