Which life policies do I cancel to reduce my monthly expenses on insurance policies as I am currently unemployed for more than 6 months and intend to change new career path (expect steep paycut)?

You have a lot of policies. One way is to summarise the policies into a single spreadsheet so you know what kind of coverage you have, and what you really need for now.

No matter what happens, always keep your hospitalisation plan with GE.

As for the rest of the policies, it would be good to find out more about the current cash values and benefits before taking the step to cancel them. Perhaps you should first speak to your financial advisor for him/her to go through with you the various policies that you have!

As for us, it would really be tough for anyone of us to provide any form of advice without knowing the following:

• Your Current Age
• Your Dependents
• Your Liabilities
• Your current Financial Health

In order to answer this question...

need to find out more information from you.

Who are your dependents? Or do you not have any dependents? Is your spouse working? Or not working? How many children do you have, how many of them rely on your income?

With all this amount of life insurance coverage, is there a chance you are overinsured?

Do you have an existing medical condition? If you were to cancel any of these policies, are you still able to buy anymore policies in the future?

You need to ask yourself all these questions first in order to determine how to strategise yourself to ensure you are not overinsured.