I’d assume that you’re on PruFlexiCash (PFC), and the policy term is for at least 15-25 years. Taking note that such plans let you ”take out early” if need be or continue accumulate till maturity. Note: I have a 70/month PruFlexiCash and was ex-Pru FC. Say you are 22 now. Depending on the term, you get full sum of money back about age 37-47. $200 a month, that’s about 30% of a man’s pay. If you get a part time job after NS (waiting for Uni etc / easily $1k monthly) then you won’t have to dig into your savings to pay monthly premiums. PFC is a good instrument to make sure you save money for future, “in case you forget to”. But of course try to make sure you have at least $10k liquid cash in your bank account as emergency funds. Alternatives: Singapore Savings Bond (guaranteed interest about 1.9-2.5% p.a., can take out any time without penalty) – this one I put few k to sit for 10 years Feel free to clarify if any doubts. Good luck!