Insurance & Protection Planning with AI

Before buying anything, know the protection you already own. Every working Singapore citizen and PR aged 21 to 65 with CPF contributions is covered by the Dependants' Protection Scheme (DPS), an opt-out term life policy worth S$70,000 that pays out on death, terminal illness or total permanent disability, with premiums, roughly S$18 to S$298 a year depending on age, deducted from your CPF. You also have MediShield Life, the basic hospitalisation insurance for everyone, plus your MediSave balance to pay premiums and bills. Many people buy new policies while forgetting these exist. Let AI build your inventory:

🗃️ Coverage inventory

I am [age], [citizen/PR], working. I know I have DPS via CPF and MediShield Life. I also have: [list any policies you remember, e.g. hospitalisation plan, term life, CI]. What protection do I already have, and what gaps should I check? Explain each layer in plain English and tell me what to verify on cpf.gov.sg or with my insurer.

Insurance is about replacing your income and covering your debts if something happens to you. A common framework is the DIME method: Debt, Income replacement, Mortgage, Education. Add what your family would need, subtract what you already have, and the gap is the number to shop for. AI does the arithmetic:

🧮 Needs calculator

Using the DIME method, estimate my life insurance needs. My debts: S$[X]. My annual income: S$[X], and I want to replace it for [X] years. My mortgage balance: S$[X]. Children's future education: S$[X]. My existing cover: DPS S$70,000 plus [other policies]. Show the total need, my existing cover, and the gap. Explain each line.

Term life is pure protection: you pay a premium, and if you die during the term, your family gets the payout. It is cheap. Whole life combines protection with a cash value that grows, and it is expensive, sometimes five to ten times the premium for the same coverage. For most young families in Singapore, a term policy plus investing the difference works out better, but whole life suits some people who want certainty. Let AI compare for your numbers:

⚖️ Term vs whole life

Compare term life and whole life insurance for a [age]-year-old in Singapore with a S$[X] monthly insurance budget and a coverage need of S$[X]. Explain the difference in premiums, coverage period, cash value, and surrender value. Be neutral and do not name brands. End with questions I should ask a licensed adviser.

MediShield Life is the base, and an Integrated Shield Plan (IP) upgrades you to private hospitals or higher-class wards, usually with a rider to reduce co-payments. New IP riders launched from 1 April 2026 are roughly 30% cheaper, which is a good reason to review your current plan. Premiums vary a lot by age and insurer. When comparing plans, read the benefit schedule, not the brochure:

🩺 Plan comparison

Here are the key details of two hospitalisation plans in Singapore: [paste benefit summaries: premium, annual limit, co-payment, exclusions]. Compare them for a [age]-year-old. Which gives better value, and what questions should I ask the insurer before switching? Do not assume facts I have not provided.

Singapore's official comparison portal, comparefirst.sg run by MAS, lets you compare life insurance products by price and features without registering, and MoneySense explains the basics. When you shortlist a plan, ask AI to stress-test the policy document:

📄 Policy stress test

Here are the key sections of my insurance policy: [paste benefit and exclusion sections, no personal data]. List the three most important exclusions or conditions, what would void the claim, and what the policy does not cover that I assumed it did.

AI is not a licensed insurance adviser, and it cannot see your health history or family situation, so treat its comparisons as homework, not a buying decision. Never paste medical records, NRIC or policy numbers into a chatbot. Buy protection for the gap you calculated, review policies every couple of years, and read the fine print, because exclusions are where surprises live. And remember the basics: an emergency fund and CPF are protection too, covered in our budget guide and CPF guide.