When it comes to insurance, I’ve always believed in getting covered without paying too much. In other words, if there’s a way to get the same protection for less, then I prefer to go for the low-cost approach. As insurance is one of the fundamental tenets of financial planning, it pays to ensure that you get the maximum coverage you need at a level that you can afford. At all times, insurance should not hinder your wealth-building journey. To start planning, your life circumstances matter. I prioritise my coverage needs based on my unique life circumstances, which may or may not apply to everyone. In our case, my husband and I single-handedly support 3 parents (including paying for their insurance policies) and our 2 young children. Given our higher financial responsibilities, going for low-cost insurance options is crucial. On the other hand, if you’re a single, young working...