What type of questions should i ask my family insurance agent?

Hey there!

For starters, you may want to look at what are the current policies you already have. If you already have some insurance policies, you will just be looking at topping up the existing coverage.

In general, there are a few things to insure yourself against:

1) Death / TPD

2) CI

3) Hospitalization

Hospitalization is the most fundamental insurance. You will need to decide whether to be covered up to private or restructured hospitals. The latter, of course, will be cheaper but it'll be your preference. Private hospitals in general have lesser waiting time and you get to choose your own specialists but it will be more expensive to be covered for that. Note that your plan is payable by Medisave while the rider is payable by cash. Rider covers deductibles and co-insurance costs.

There are a few strategies to cover for death/TPD and CI. You can either opt for a whole life plan with CI rider or go for a term plan + standalone CI plan. Which to go for highly depends on your budget and objectives.

If you want limited premium payment for whole life coverage with cash value in the end, go for whole life plan with CI rider. If your budget is tight and you are looking at huge big ticketed items, opt for a term plan first to cover for death and TPD +standalone CI plan. Reason being is that term plans are typically cheaper. You can choose to top up with a whole life plan in the future when finances pick up.

You'll have to chat through with a financial advisor to see what works best for your budget, lifestage and objectives. All the best!
Financial planning is an integral part of life. You can reach me here to find out more.

Ask him whether he, his wife, his father, his mother, his sister, his brother, his grandmothers and grandfathers have the same products he recommends to You.

Not many insurances a person really needs.