Hospitalisation and critical illness insurance are vital, but beware of being upsold or paying too much for premiums.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.

What do young people need to know when buying their first insurance package?

Insurance is an essential part of “adulting”, but it can be daunting when choosing from a wide range of products on a tight budget. 

Some can also find that insurance agents pressure them into buying products that they are not certain they need. 

In this episode, ST business correspondent Sue-Ann Tan looks at what you need to know before buying insurance. 

Her guests are NTU undergraduate Megan Wee and DBS bank Singapore head of bancassurance Loh Wanyun. 

1:40: What are the different types of insurance?

9:00 Corporate vs personal insurance

11:00 How much should I spend on insurance? 

13:25 How to deal with pushy agents

15:50 How much insurance is enough to cover me? 

18:05 What are investment-linked policies?  

21:00 Where should I buy insurance from?  

Read Sue-Ann Tan's articles: https://str.sg/mvSa

Follow Sue-Ann Tan on LinkedIn: https://str.sg/A86X

Host: Sue-Ann Tan (suetan@sph.com.sg)

Produced & edited by: Amirul Karim

Executive producers: Ernest Luis, Lynda Hong & Joanna Seow

Follow Headstart On Record Podcast channel here:

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Feedback to: podcast@sph.com.sg

Get business/career tips in ST's Headstart newsletter: https://str.sg/headstart-nl

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