Buying insurance after graduation is one of the first major financial decisions many young adults in Singapore face. A fresh graduate may be earning a starting salary, making CPF contributions, repaying study loans, supporting parents, or saving for a future BTO flat. These competing priorities make it important to choose insurance that protects against real financial risks without creating unnecessary pressure on monthly cash flow. The main decision is often whether to buy term or whole life insurance first. Term life insurance provides coverage for a fixed period at a lower premium, while whole life insurance provides lifelong coverage with a cash value component at a higher premium. For fresh graduates, the better starting point depends on affordability, dependants, debt, health coverage, and whether the policy supports a genuine protection need. Key takeaways

• Term life insurance gives fresh graduates higher coverage at a lower cost.
• Whole life insurance provides lifelong protection but usually costs more.

...