Life insurance may seem complex at times.
A lot of mumbo jumbos and technical jargons that can literally give you a headache.
Moreover, different people are all saying different things about insurance.

You have to decipher whether it is birds talking. Literal translation required.

All you want is to buy the right policy and move on.
You desire clarity.
You want someone who unquestionably knows a thing or two, to guide you through the whole process.

Well, we hear you.
Here are 10 Commandments that we think every Insurance buyer should definitely live by.

#1 – Always Protect Yourself

Similar to the Flight Safety Instructions, you must always ensure your own survival before you can take care of somebody else. Sounds really simple but sometimes we forget about this when faced with a limited budget.

#2 – Healthcare First

If you want to live, you have to make sure you have sufficient money to pay the doctors. In Singapore, the smart thing to do is to get an Integrated Shield plan.

An apple a day does not keep the doctor’s medical bill away. Sadly.

#3 – Buy Critical Illness

You may have bought your hospital policy but it is definitely not going to pay for your HDB loan, food, and transport when you are down with a dread disease. Here are more reasons why you should get one.

#4 – Protection before investment

You should set aside some savings. Also, always prioritize insurance over investment because of Rule #1 and because insurance is actually sexier than investment.

#5 – Continue DPS

DPS is a simple term plan that covers you for $46,000 in the event of death or total permanent disability. You have been enrolled automatically and premiums are deducted from your CPF account. Do not opt out.

You wouldn’t feel richer even if you opt out. Unlike Mr Lim.

#6 – Do not opt out of Eldershield

Indeed, Eldershield has meagre payouts but since you cannot draw down on your CPF Medisave when retired, you might as well use it on Eldershield. Upgrade it to better benefits if you have surplus cash.

#7 – Thou shalt not lie to your insurer

Be upfront about the truth because you have to. Assume that insurance companies know everything about you – including the fact that you like to smell your own farts.

#8 – High Premium may not equate to Good Coverage

You may have insured over the top for death and overlooked other areas of protection. To be sure, review your policies or have a financial advisor look at them.

#9 – Review periodically

You change your house, your car and sometimes your spouse. It is natural that your protection needs change with time. Review them in just minutes with our Insurance Robo-advisor.

#10 – Buy now

Don’t procrastinate. Today may be your final chance to get a life insurance.

We even made a signboard to hit home the point.

Conclusion

We claim that neither these 10 commandments are biblical nor are we a religious authority (although being tax-exempted will be much welcome.)
However, these rules serve well as guiding principles whenever you are unsure.

You may or may not find eternal bliss if you heed them well but you will sure as hell find them rewarding at the end of the day.

www.ClearlySurely.com aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.