You should just do a review first (comparison). From what I know, most Whole Life coverage allows increment of sum assured. But the premiums are not gauranteed to be the same as what you are already covered. The term plans really depend on your age. If you are below 30s, a Whole Life and Term plan may not differ much in terms of ROI (return of investment). But if you are older, consider term life since it will most likely be cheaper to invest difference. You may also consider decreasing term life insurance (where the first 5 years is a significant cheaper as compared to level term life insurance). if you only require 5-10 years of insurance coverage. Else,

There are still ways to monetise their home. You should say its the unwillingness to monetise their home (through rental). A counsellor will likely go through many questions even before you say they can't monetise. Private property is different from public, hence the help you can receive will likely only be advice.

My advice by rank of priority. 1) Any health shield upgrade from medishield life. This will protect your assets from being used by health care expenses. 2) Do the same for your kid. Enroll him/her into an upgrade. Even if you are cash strap, you can choose 1 without rider (cash payment). 3) Term life insurance. Depending on how long you want to cover and the coverage. 4) Disability income (only if your job has high income). 5) Accident to top up for in case of TPD occur from accident.

When I first enter the workforce, I just keep saving (like there is no tomorrow). My target was to get emergency fund and a pool of money. Trip was an after thought and used from the savings pot. But since you are on Seedly, have a Seperate pot of "trip savings" instead. This prevents you from overspending.

I feel its good to let the kid understand a bit. Make it simple like, family got not much money. Need to reduce spending. So papa mama can give you only this much now. The kid can get frustrated and angry, but it's about the kid also loving the parents. It's a good way to incalcate family values too. If the kid accepts, even better (like what happen to me before). For the most part, I didn't know what is financially difficult. I only know less money, not hungry. That's fine to me

Everyone only have 24 hours a day. This is something that you either, 1) make full use of it 2) think but no action Being frugal is nothing wrong. You can still plan overseas trip, at budget cost, and still go for sight seeing. There are two ways to go about doing this. For every dollar you spend, seek to maximise the use of it. Be it on cashback cards, to using it online for booking hotel, and using shopback, and also deals on air ticket during low peak season (which may cost $61 including tax). But also, plan with friends who may have gone before. Leech all the experiences they have. Its way easier to lead a fulfilled life while also doing value spending / saving.

Been sometime since anyone answered your question. Maybe I can guide you along instead, since there are more question than answers. 1) what are your working experiences? 2) why didn't you consider the work that you did before 3) What career function are you allocated 4) What are your strengths and how transferable are the skills Involved for the work done overseas? 5) Any thoughts to start your own Co sultancy etc?

Asking myself why is the family so poor?

I would like to understand if you have any personal accident insurance in this case? Because it would be alot easier to let your insurer handle the claims (as they will fight it out), instead of getting yourself involved in the suit, unless there is more claims that you require. You should consider what Yixiong has mentioned earlier on getting a lawyer. (my dad ever got into an accident and could not hire HOH & HOH as the insurer is represented by HOH & HOH).

I guess you just need to balance your time, or even have to inform them you are working hard now precisely because there is more time. If your values defer, then there's not much of a choice to stop hanging out with them. Follow your passion but never, ever burn bridges. Even if you do not wish to hang out with them, for they may be your future partner, employee etc. or even the HR manager who may hire you instead precisely because they know you are driven. Or you may require their expertise instead when you expand your start-up to a SME, and later on MNC. Continue with your endeavour, and just maybe read "How to win friends and Influence people" for your start-up dream. Wish you all the best.