Contributed by: Estelle Heng
Intern from Gerontological Management Studies, School of Humanities and Social Sciences, Temasek Polytechnic.
‘I’m too young to think about this’ is probably the most common excuse not to start financial planning in Singapore. However, if we think twice, we’re never too young. Parents buy insurance for their babies as soon as they are born, some before they even take their first breaths. What’s so important about insurance that it is this urgent? The reality is that unexpected things happen. And when they do, you can’t afford to give up your future because of piled-up debts from hospitals or leaving your dependents to pay them off. So really, insurance is more than just protecting yourself, it includes supporting your loved ones as well.