hi beep,

I just spoke to a financial adviser rep recently and he shared with me this:

1. Calculate what you can commit for regular monthly retirement savings then place this into a Whole-life policy.

2. Beef up short-fall for death/total disability coverage with additional term insurance.

i.e. if your desire protection is sgd 100,000 and your whole-life policy determined by your regular monthly savings acting as the premium gives you only sgd 50,000 life coverage, you could then beef up the shortfall of sgd 50,000 with a cheaper term policy.

You could then invest the surplus balance of your money for short/medium term objectives.

Does this sound reasonable? I should think so myself.

This topic has been a debate for years and I personally feel there isn't right or wrong because it all depend on your circumstances and needs.

I have found some independent advice that I feel is neutral enough for your consideration as follows:

1. http://sg.biz.yahoo.com/050113/67/3pu3o.html
2. http://teaengpeng.blogspot.com/2008/08/types-of-insurance-and-coverage-part-2.html

Thanks for bringing up this topic. It is indeed an important point, and I figured it out using the Prosperity Planner, see the article '
Term life versus whole life - The battle explained and your benefit'.

You too you can find out for yourself, simply follow the steps as explained in the article, and the tool will show you which plan is best for you. Because your profile is different from anybody else, you need to find out for yourself

Cheers