What type of life insurance with what conditions will be most suitable, and how much should I be insured for?

Since you're still in NS, I would think you can consider to get a hospitalisation insurance first for medical coverage. The premiums are generally not expensive and can be paid by medisave. Do take note to check if you have enough medisave in your CPF to last till you start working. When you join the workforce, you can then consider term insurance which will insure for death, critical illness and total permanent disability. Term insurance typically can cover up to $1M which cost around $1200/year if you buy in your 20s. A good website to compare and find out about insurance is DIY insurance: https://www.diyinsurance.com.sg/portal/home/

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I would personally avoid investment link policy as it is too complicated. My strategy for insurance is simply to buy term insurance and invest the rest of my money myself. Generally, I will not to spend more than 10% of my income for insurance.