What you need to know before you buy your policies.

There are many ways to buy policies, from the website, to the RM in the bank, to your ex-schoolmate turned agent, etc. But how do you know what to buy?

Not everyone fits into the same plan, and not everyone fits into same pants ...

Buying insurance is one of those decisions that can shape your entire financial future — yet many people rush through it, comparing prices the way they would shop for phones or air tickets. The truth is, insurance is not a commodity. It’s a long-term promise, and understanding what you’re buying (and who you’re buying it from) can make all the difference.

Here’s what you need to know before you commit to your next policy in Singapore.

1. Know the Types of Insurance — and Why You Need Them

Before you dive into comparisons, take a step back and understand what each type of insurance actually does for you.

• Protection Policies – These include life insurance, critical illness, disability income, and hospitalisation plans. They protect your income, your health, and your family when life events hit.

• Savings and Investment Plans – Think endowment plans, investment-linked policies (ILPs), and retirement income plans. These are designed to help you grow or preserve your wealth over time.

• General Insurance – Covers your car, travel, home, or business. These protect against specific, tangible risks in your daily life.

A well-balanced portfolio doesn’t need to include everything — just the right mix that reflects your life stage and priorities. The goal isn’t to collect policies; it’s to create protection that makes sense.

2. Not All Agents Are the Same

Choosing who you buy your insurance from can be just as important as the policies themselves. In our small island, there are three main types of advisers:

• Tied Agents – Represent a single insurance company. They know their products inside out and can provide deep insights into that company’s offerings. They are best if you want focused expertise and don’t mind limited options.

• Independent Financial Advisers (FAs) – Represent multiple insurers, giving you access to a wider range of products. They are ideal for clients who want custom solutions and flexibility.

• Direct Platforms – Allow you to buy insurance online without an agent. Convenient for simple policies, but you won’t have personal guidance or someone to advocate for you during claims.

Agents to Be Cautious Of

Not all advisers have your best interests at heart. Be careful if your agent:

• Pushes products aggressively – If you feel pressured to buy “today or miss out,” that’s a red flag. Insurance should be a thoughtful decision, not a sales sprint.

• Focuses on commissions or awards – If their main motivation seems to be incentive trips, bonuses, or “top producer” status, they might prioritise their gain over your protection.

• Cannot explain the products clearly – If your agent avoids questions or gives vague answers, it may indicate they don’t fully understand the policy themselves — or worse, they’re hiding details.

• Disappears after the sale – An agent who vanishes once the paperwork is signed is not a partner for the long term. Insurance requires ongoing review and guidance.

Agents You Should Look For

The right agent will make the difference between a policy that works for you and one that doesn’t. Look for someone who:

• Listens first, advises second – They take time to understand your life, priorities, and budget before recommending a policy.

• Educates rather than sells – They help you understand the fine print, explain trade-offs, and empower you to make informed decisions.

• Follows through consistently – They are reachable, responsive, and proactive in reviewing your policies as your needs change.

• Acts with integrity – Their advice aligns with your needs, not their next incentive or award.

Ultimately, your agent should feel more like a partner than a salesperson. When you have someone with knowledge, empathy, and honesty, the policies you buy will truly serve their purpose — protecting your family and your financial future.

3. Character Matters More Than Credentials

It’s all too common to assume that the agent with the biggest awards, highest income, or fanciest car must be the best. But remember, success doesn’t always equal sincerity.

The character of the person advising you matters deeply. Look for:

• Integrity - Will they tell you what you need to hear, not what you want to hear?

• Empathy - Do they take time to understand your situation and goals?

• Patience - Are they educating you, or just selling you?

A rich or decorated adviser might be great at what they do — but your best match could be someone quieter, who listens better and follows through consistently. The right adviser should make you feel safe, not pressured.

4. Cheaper Isn’t Always Smarter

We all love a good deal, but when it comes to insurance, “cheap” can come at a cost. Seeing a lower premium can make you feel smart — like you’re saving money while still “being protected.” But in insurance, cheaper can sometimes be more expensive in the long run. Even for the term “Value for Money”, you need to be fully aware of whats the “Value”…

That low premium might mean:

• Stricter definitions of what counts as a claim. Eg: loss of limbs vs loss of use of limbs.

• Lower annual limits or hidden exclusions. Eg: only 1 GP claim prior to hospital admission despite 180 days coverage.

• Longer waiting periods or limited renewability. Eg: 90-120 days waiting/deferred period before claims can be admitted.

You might only find out during a crisis — when it’s too late.

In insurance, you’re buying certainty, not discounts. A slightly higher premium could mean a smoother claim process or broader protection. Always ask: “What am I really covered for?”, not just “How much does it cost?”

5. Your Policy Isn’t a ‘Buy and Forget’ Item

Your life will change — marriage, kids, career, health, retirement — and your policies need to change with you.

A good adviser will review your portfolio regularly, helping you adjust coverage as your priorities evolve. If your agent disappears after the sale, you didn’t buy a partnership — you just bought a product.

Insurance isn’t a one-time transaction; it’s a lifelong relationship of trust and review, walking through the different seasons of life.

6. Choose Heart Over Hype

At the end of the day, insurance is about people — about you and those you love.

Don’t be distracted by marketing buzz, trophies, price wars, or "my friend says this is good and that is enough".

Focus on the adviser who genuinely wants to protect you, educate you, and stand by you when life gets difficult.

Because when you’re filing a claim or facing an illness, it won’t matter how cheap your policy was or how famous your agent is. What matters is whether the coverage works — and whether someone trustworthy is there to help you through it.

Final Thoughts

Buying insurance in Singapore doesn’t have to be complicated, but it does require mindfulness.

Take your time. Ask questions. Read beyond the headlines and the price tags.When you find the right adviser — one with both knowledge and heart — you’ll realise insurance isn’t just a financial product. It’s a

promise of care, and a quiet act of love for your future self and family.

A Gentle Invitation

If you’ve ever wondered whether your current coverage truly meets your needs, take a moment to reflect. Review your policies, ask questions, and don’t be afraid to seek advice from someone you trust. Even small adjustments today can mean peace of mind tomorrow.

And if you’d like a conversation about your options, I’m always happy to help — not to sell, but to guide you in making confident, informed decisions for your future and your loved ones.

Written by Alvin Lim, Agency Leader, passionate about helping people make confident, informed decisions about their financial protection

PS: I hesitated to write this for the longest time, fighting potential self-bias… But I realized that my experiences, both as an adviser and as someone navigating the same life challenges as my clients, could actually help others avoid costly mistakes and make decisions with clarity.

Writing this wasn’t just about sharing knowledge — it was about being honest, admitting what I’ve learned the hard way, and giving readers a chance to see beyond marketing and hype. At the end of the day, the goal isn’t to sell policies; it’s to empower you to protect what matters most — your family, your health, and your peace of mind.

Insurance isn’t just paperwork. It’s a relationship, a promise, and sometimes, a quiet act of love that you’ll never regret making.