When you have dependents and not enough liquid assets that can be immediately used for the dependents' needs, nor will these liquid assets be blocked due to one's death, you do need insurance.

Remember, insurance isn't about investing your money, that is the mistake most agents AS WELL AS clients do when they talk about investment-linked insurance.

Insurance is about insuring oneself from things that you cannot predict, like premature death (before all of your financial needs are set in place). So if you have dependents, it's a good idea to insure for at least 3 years of their basic needs so the new leader of the family can start his/her life without being too financially-paralyzed (housewife wife can start to look for job but she has enough savings of 3 years to get started, for example) as well as tthe children's college education funds.

It depends on the situation, but generally yes.

Unless you are completely satisfied and have full faith with the public healthcare system, then it wouldn't be a bad idea to take at least the minimum medical cards.

1. Do note that from the first day that you are taking the medical card be it an ILP, or a stand-alone, you are already incurring cost. Don't be FOOLED by the agents that claim that the investment would cover the cost, they may, but that's disregarding the opportunity cost that you incur by not investing in other more direct and pure investment vehicles like ASB, unit trust, and even FDs!

2. The minimum card is just there to ensure that you have the OPTION to go to a private care if the government care leaves you with little or less than satisfactory services.

3. It is impossible to start taking a medical card if you have been diagnosed with a majority of illneses, the only time to get it is when you are currently healthy.

4. But what if you already have a company card that covers your family? That's good, use those company cards when you have to. But it will not last forever, usually until you have left the company or until your children has reached 18 to 25 years old.

I'm not trying to scare any of you into taking the cards, but dont listen to the majority of insurance agents pushing you the cards JUST BECAUSE. You need to balance your finances and needs and consider the kinds of medical cards that you need, if any!

i spent a few days asking Qs, testing Qs & real Qs - drilling him leh.
can't recall all BUT the biggest impact to me was:

1. Life insurance with critical payout
The norm = 3rd or 4th stage (susah to save life liao) cancer or similar, baru payout
AND norm claims take >1 mth for critical illness payout
THUS don't rely on life insurance with critical illness payout to save life of love ones

I stupid - bought one for my daughter long time back, mainly for critical, not for death payout.
Now changed - beefed up her medical and bugger the life/death with critical (since i don't rely on her economically)
2. Medical insurances in MY
Generally all have a clause with something to the effect:
IF U have been overseas (over causeway too) for >XX days consecutively
U aint covered even if U are back in MY

I quickly changed my girl's medical to "overseas" insurer.. crazy..

The 2 above remember clearly coz gave me a good scare (worrier here) and made me run like mad to cover the "gaping holes"