You bear great responsibility, with both your family and ageing parents to take care of. Your parents may or may not be dependent on you for their retirement. As health insurance products were less comprehensive a generation ago, it is likely that your parents might not have sufficient medical coverage. It will be a good idea to take stock of what they have, as you might not want to be taken surprised by a hefty medical bill. Yourself, with the huge responsibility, having sufficient cover in the unfortunate event of a Critical Illness and premature Death will be critical to alleviate the financial hardship that could come with it.
Financial commitments like mortgage loans and education funding hopefully would have been largely taken care of. That being said, it probably a good time to start thinking about your future retirement and lifestyle.
Priority: Critical Illness Protection -> Family Income Protection
Other Considerations: Disability -> Retirement Planning
For Your Parents: Hospitalization Cover
If you like to understand more, do drop me a message below…
Wee Khai 