I want a plan that can guarantee 3kSGD payout per month. Should I buy 1 plan from 1 Insurance provider or buy a few plans from various providers ( 1500 SGD payout from 2 companies or 1000 SGD payout from 3 companies ) to diversify any risk ?

Hi Anon, I see that you're worried about insurer default. In that case, SDIC will cover up to $100k on a policy.

But personally, I think I'll just go for the highest guaranteed and highest IRR policy. If you have two policies giving you almost equal IRR, then sure split between both. But don't settle for a lesser IRR just because you might afraid of the insurer going bust.

There are strict rules in place for insurers here by MAS, and even in the even of an insurer leaving Singapore, they'll still service your policy or another insurer will take over the portfolio.

If you are looking strictly into plan, as a layman perspective I will go for at least 2 different insurer.

You might want to consider exploring the following too:

1) Top up SRS yearly $15,300

2) Top up CPF-SA yearly $7000

3) Top up CPF-MA (If applicable for tax relief)

4) Buy into Dividend paying stocks (i.e. REITs, blue chips).