Insurance

You can be very safe at anything you do, but someone else can be careless and you end up in hospital.

It will be good to have a policy from each of the following categories. However, you don't have to get all of them at once.

When you start working, start with Hospitalization.

When you get married, Life Insurance.

As you get older say 40s, Critical Illness.

When you have kids, get a hospitalization policy for them. You can also get a life insurance policy for them.

Hospitalization

Takes care of hospital bills. Usually monthly fixed premium.

Life Insurance

Takes care of your family in case you die. You can choose how many years you want to pay for the policy.

Critical Illness

There are illnesses that may affect your ability to work. Critical illness insurance can cover your expenses while you recover. These are also monthly premiums.

Government Insurance Policies

There are also some insurance policies that are compulsory for Singaporeans. These are usually paid for by your CPF. But the coverage is usually not enough.

Savings

Optional. Consider putting your money in government bonds, or SRS, and then investing it.

Finding an Insurance Agent (Financial Planner)

Just stick to one agent. Easier to know who to call when you need advice. A good agent checks in with you at least once a year. Updates you on your policies and coverage. Does not oversell.