Life insurance is a complicated but important kind of insurance coverage. It mainly consists of two types - Whole Life and Term Life. Unlike other insurance plans, life insurance pays out only after the covered policyholder passes away. Hence, it is vital to get the right life insurance coverage and avoid costly errors since rectifying them could prove to be near impossible by the time a problem is discovered after death. With the Singapore life insurance industry seeing booming sales for 2021, Singaporeans are placing more emphasis and attention on the purchase for life insurance. Are they guilty of making these common life insurance mistakes? And are you one of them? If you are currently in the market for life insurance or have recently bought a policy, read on to make sure you do not put your family's finances in jeopardy by making these mistakes....