Life insurance is a serious commitment and choosing a policy can be a tough and expensive project to tackle. This may be why 70% of Singaporeans surveyed by Prudential in 2016 were found to be underinsured, with almost half citing budget constraints as a reason why they didn’t want to increase coverage. Despite its high cost, life insurance can be a good way to protect you and your loved ones against the unexpected—if you know what you’re getting yourself into. Below, we discuss 5 things you should know before deciding to get life insurance.

The Timing of Your Life Insurance Purchase Matters

Before you purchase a life insurance policy, there are certain things you should avoid doing. First, you should avoid making any doctor’s appointments until after you purchase your policy. This is because any illnesses or diseases that will be found will be reported to your life insurance