Throughout the years in my career, many people had asked me this question -” Which type of insurance is best for me?” The answer is very simple. Different insurance meets different needs. It depends of your lifestyle, background, dreams and personality to find something that suits you.

Insurance policies are very complicated to look at them in details but the good thing is we do not need rocket science to understand it. Basically, everyone should have the 4 types of insurance in their financial portfolio.


“This is a guest post from Verlin Tan,
Financial Planner representing HSBC Insurance Singapore,
specializing in Wealth Management.”

It is best to have all 4 at one go. However, can we afford all at once? For a good start, you can look at a good medical insurance. (I will go into details in my next post.). On top of that, have a life insurance which covers your loss of income in the event of unforeseen circumstances. Finally, to make it holistic, get yourself covered with an accident insurance. And your portfolio doesn’t stop here! As life stage changes, your portfolio has to change accordingly.


For eg, from a young working adult who is single may need only $200,000 worth of life insurance. After marriage, he may have to increase to $300,000. When he has his own child, he may need more. Financial planning is a lifelong process. It does not stop after you make a purchase. It has actually just started. It is always good to re-look into your portfolio at least once a year so that it is updated according to your needs.

To round up everything, start planning as early as possible. This is to ensure you can focus in achieving your dreams without having to worry about the “What ifs…”. “What if a car knock me down?”, “What if I do not have enough money for retirement?”, “What if I am diagnosed with a critical illness?” etc…


Verlin Tan (Financial Planner representing HSBC Insurance Singapore)
I specialize in wealth management. I take care of my clients’ 4 areas of wealth. Weath Protection-Insurance Planning, Wealth Accumulation-Retirement & education planning, Wealth Preservation-Tax Planning and Wealth Distribution-Will & Trust. My client base includes young adults, savvy investors and business owners. I strive to keep myself abreast with the industry to provide my clients and more people with knowledge & skills to improve their wealth portfolio. You can contact me at