Should i cancel by early critical illness (ECI) and critical illness (CI) plans?

1) never mix insurance with investment

2) get a hosp plan 1st if u dont have

3) if u have dependents, get a term life covering death, tpd and ci. coverage amt depends on your estimates

4) eci good to have but very exp, get ci better

5) http://singaporeanstocksinvestor.blogspot.com/2...

6) http://singaporeanstocksinvestor.blogspot.com/2...

Just a few pointers to note:

1) You are thinking of using money which has been set aside to protect your wealth, on accumulating wealth. These 2 purposes are totally different and if you do not have enough money, you should earn more or spend less, so that you have money to use for wealth accumulation.

2) It's precisely that you're healthy and have no family history that you are able to get life insurance coverage. Once your health deteriorates, or when you grow older, the chances of getting coverage becomes lesser and more expensive. In general, people lose between $1k to $5k of coverage per year that passes.

3) You're putting in about 10% of your income in insurance, which is pretty standard in the market. The $2.7k should not include savings plans, it should be a budget set aside for protection. So theoretically you're in a sweet spot for coverage. Surely you would not want to ask your parents for money if you fall sick and are unable to work?

4) You should consider reviewing the coverage amount with your agent. What CI and ECI plans do you have? Is the coverage amount sufficient, would it meet your expectations in case you fall sick?

5) You may also like to consider these questions. How eager are you in investing? How confident are you that you'll make money from investment?

Find someone to talk to before making any decisions, so that you'll not regret your choice now. :)