Learn about Financial Planning

Learn about Financial Planning

Financial planning is about taking charge and managing your finances to help you achieve your life goals.

Achieve your financial goals


What is insurance?

Insurance gives some financial protection or coverage against a range of events which could cause some loss. If the covered event happens, the insurance company will pay an agreed amount, or an amount to cover some or all of the loss.

What insurance do I need?

What you need will depend on your financial responsibilities and the likelihood of various risks.

You should:

  • Assess the possibility of an event happening
  • Consider the financial loss you or your dependants may face and how you would overcome the financial loss

If you are worried about death or the inability to provide for your dependants

Life insurance provides money for your family to sustain daily life in the event of death or total and permanent disability.

Whole Life vs. Term Life

What’s the difference?

If you are worried about expensive medical bills or serious illnesses

Health insurance helps with medical expenses, hospital bills, and pays a lump sum if diagnosed with a serious illness.

7 types of
Health Insurance

If you are worried about the loss and damage of personal items and property

General insurance pays for the loss and damage of various personal items including car, valuable items, and home contents.


Important things to take note of

  • Ensure that you can continue paying the premiums in the long term
  • Find out if the policy has any exclusions or limitations
  • Make use of the 14-day cooling-off period to review if the policy you purchased suits your needs
  • When switching to a new policy, ensure that it has equal or better coverage

Where do I start? There are several ways to buy insurance:

There are several ways to buy insurance:

  • Go directly to an office of an insurance company or meet its agents
  • Contact a representative from a financial adviser firm or broking staff from an insurance broking firm
  • Buy insurance products from a bank

Why save or invest?

Saving and investing are important parts of your financial plan as it helps you reach your financial goals.


Before saving or investing

  1. Determine what your objective is (saving for child’s education, saving for retirement, growing wealth etc.)
  2. Check how much you can afford to invest, after setting aside funds for daily needs and savings to provide for emergencies
  3. Establish your risk appetite and tolerance for losses

What type of investor are you?


Save vs. invest

Your choice should depend on your ability to absorb or tolerate losses. With investment products, the expected returns may be high but the risk of losses is also high. With savings products, the risk of losses is low but the returns are also low.

Should I save or invest?


Important things to take note of

  • Fully understand the product and risks involved
  • Ensure that the products and schemes are regulated by MAS
  • Know the additional potential risks that come with foreign listed products

9 things you should know before investing

Can we help?

Get in touch with us for product information and existing
policy support.

Submit a claim

We are committed to a quick and fair claim response.
Learn more about the claim process

Call us
Dedicated claim hotlines

Find us
Claim servicing branches