I have a hospitalization plan w rider, term plan for 1M and critical illness plan for 500k coverage for a total of $1.5k premium pa. Do you think this coverage is too much & are the premiums paid ok?

If you're making $100k/yr in income, that's totally fine. It is also fine if you're buying more now in anticipation of future income and liabilities, aka pre-poning your insurance purchase.

Otherwise, it can be a tad bit over insured but if you're also spending less than 10% of income on insurance, that's also fine.

So it's up to you really. I do hope some of the 500k in CI covers Early and Intermediate conditions as well.

Hi there. It is difficult to say if the premiums are too high or low because the lengths of coverage of the plans are not revealed. Coverage will never be considered too much if a claim is made someday (touch wood), the more money paid out the merrier. The question is whether you are over-paying for your insurance or not; whether the premiums are a strain on your finances or budget.

I run through client portfolios like yours with my clients on a regular basis to ensure they are not over-paying for insurance. Premiums should be kept as lean as possible.

You can reach me here to find out more. I cover 9 companies including Aviva, NTUC, AXA, Manulife etc.