The 8 Life Moments When You Must Review Your Life Insurance

By Daniel Dal Molin

Life as an expat in Singapore often begins with excitement. It’s a new journey that brings with it the hope of building something better for yourself and the people you care about. But no matter how far we travel or how much we achieve, some questions follow us quietly. What if something happens to me? Will the people I love be taken care of?

It is a quiet reassurance for those you love most. A way of saying, “I’ve taken care of what I can. If I can’t be with you, you’ll still be protected.”

Here are eight times in life when that promise becomes especially important.

1. You have moved abroad to support your family

Many expats come to Singapore to earn more and send money home. Whether your family is in Manila, Mumbai, Jakarta, or Johannesburg, your income is part of their daily life. If something happened to you, would they be able to continue? Life insurance can help ensure that your support continues, even when you no longer can.

2. You got married

Marriage means sharing your life with someone else. It also means sharing responsibilities, rent, savings, and plans for the future. If your spouse relies on your income or would struggle without your presence, life insurance can provide a vital safety net during an emotionally overwhelming time.

3. You became a parent

Becoming a parent changes everything. Your child depends on you not just for love, but for their home, education, and stability. If you were not there tomorrow, how would they manage? Life insurance helps ensure they are looked after, no matter what happens.

4. You bought a property

Buying a condo or a flat is a major milestone, but it also comes with responsibility. If you are still paying off a mortgage, your family could be left with a large debt if something happens to you. Life insurance can cover the loan so that your family can keep the home you built together.

5. You support aging parents

Many expats also carry the responsibility of supporting parents back home. Whether you send money for daily expenses or medical care, that support matters. Life insurance can help make sure they are still cared for if you are no longer there to provide for them.

6. You started a business or took on debt

Entrepreneurship often means taking risks. If you took out loans to fund a business or personal investment, those debts could fall to your family or partners if you pass away. A life insurance policy can protect them from financial stress and uncertainty.

7. You lost someone close

Loss changes how we see life. When someone close to you dies, you realise how quickly everything can change. Life insurance is one of the few things you can set up now that will make things easier for your loved ones during a painful and confusing time.

8. You want to leave something behind

Some people choose life insurance not just for protection, but to create something lasting. Whether you want to leave your children with a financial head start or support a cause you care about, life insurance can be a meaningful part of your legacy.

A final word for expats in Singapore

Life insurance is not about fear. It is about the reassurance that the people who matter most will be protected even when you are no longer here to protect them yourself. Reach out to schedule a consultation with me when you’re ready, and together we’ll make sure your family is protected no matter what.

Daniel Dal Molin is an experienced financial adviser specialising in retirement planning for expatriates. He helps expats plan for the medium and long-term, advising them on the best investment strategies to build and preserve wealth while navigating the complexities of international tax laws and market conditions.

Daniel is an Authorised Representative of Global Financial Consultants Pte Ltd – No: 200305462G | MAS License No: FA100035-3)

To learn more about how we may be able to help you, please contact us:

Phone number: +65 9058 9568
Email address: daniel.dalmolin@admin.gfcadvice.com
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General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that Daniel Dal Molin is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.