(1) upgrade hospitalisation plan to A or B ward before age 60. After which will be required to undergo medical checks. (2) accident plan.

Personally I would not. Insurance companies are not experts in investments, they do outsource to investment companies, which incur high charges. I would not use it as my basis for investment And also would not recommend to mix protection with investments that are not guaranteed.

(1) Hospitalization and surgical plan. Ideally, to upgrade the MediShield life plan to private (more affordable premium at younger age) then downgrade to A or B ward when older. (2) Critical Illness (5 x annual income). May varies dependent on your expenses and liabilities. (3) Disability income and/or income replacement. In cases of depression or chronic back pain which may affect your ability to work, this allows you to still receive your income (capped at 75%) to pay your expenses. If income is not important, why are we working? (4) Life insurance (10x annual income). May vary depending if you have any dependents. (5) Personal accident. For outpatient and permanent dismemberment which is not covered in TPD.

Company insurance is always additional to your own personal one. Unless you are certain you will stay with the company forever, your health condition will reset (and potentially may exclude some health conditions) should you change job. Always claim from personal insurance first so your so your insurance company has the full picture. then fill up the claims recovery form after your personal insurance company has reimbursed you, to inform them of any company insurance that you have. Your personal insurance company will liaise directly with your company’s to settle the claims amount.

Insurance first to protect my savings later. Without insurance, my savings may get wiped out in the event of critical illness or disability. Insurance acts like a gatekeeper to my bank account to prevents the big cost items (like cancers, hospital bills) to rob my bank.

The best time to buy is when you are young (at birth) and healthy! It ensures that we are covered and not excluded for any health conditions which may happen at a later age. At the younger age, it is also affordable to buy.

Go for delayed gratification rather than instant gratification! You’ll be awed by the power of compounding interest.