I recently did a YouTube video talking about the types of insurance one should consider getting in their 20s. And as much as I wish insurance could be a one-time effort, the truth is that your insurance needs will change as you move through the different stages of your life. The function of insurance is to protect against large financial risks – especially those that could wipe out your savings or even land you into debt overnight. This is a fundamental money habit outlined even in the POSB Money Habits guide. The POSB Money Habits teaches you how to inculcate 4 money habits – namely Save, Protect, Grow and Retire – in your financial journey. Personally, I recommend reviewing your overall insurance needs every 2 – 3 years, or as and whenever your financial commitments change e.g. when you welcome a new baby or when you buy a new home, etc. For those of you who aren’t quite sure how your insurance needs will evolve...