One of these days you probably grow up, and then it's time for you to manage your own finance, and it would mean you gonna start worrying about dollars and sense, how to cushion bad situation and all.

Im gonna list down whatever I know so far. So basically there are a few types of Insurances:

Health, Life, Wealth Accumulation, Income Protection

Some terms are :
Premium - Your monthly/yearly fee to incept the policy
Premium Term - How long you wanna pay for
Maturity - When the policy reached its maximum purpose/potential
Annuity - Yearly payout

HEALTH 

This basically means Shield. Due to the expensive Healthcare cost, most of us are automatically enrolled into a state insurance Medishield through Medisave allocations. This money is a form of Forced Savings only to be utilize for Healthcare so why not make sure we get the best coverage in times of need. This is personal comfort with Hospital Ward you would like to be covered for.

LIFE

Life Insurances mainly focuses on the sum assured on TPD (Total Permanent Damage) or Death, it's about how much money to leave behind for who, and how much you think is enough. (number of years to support through grievance period x cost of monthly living). Then, there's a choice between Term Life Insurance (Just have insurance for whole life, high sum assured but no cash returns) or Whole Life Insurance (After certain years will have cash returns though most of time no profit).

I would choose Whole Life Insurance, because the premium I paid the cheapest is Aviva Whole Life Plan, the most comprehensive coverage value of money is Manulife Life Protect Plus.

Some people have multiple Life Insurances, it's called Laddering. This is a way to cover a larger sum of money in case of death while keeping the premium lower, or to "upgrade" sum assured by purchasing additional Life Insurance at different stages of life. Some policies have multipliers or Stages of Life bonus options. Whole Life could act also like a Savings Plan since you receive lump sum upon maturity.

WEALTH ACCUMULATION 

Then depending on your priority, whether you wanna accumulate wealth first or is income protection is more important,

For Wealth Accumulation, you have Endowments (savings plans) and Investment Link. There will be a lot of people to tell you do not mix Insurance with Investments. If you know other platforms, then do not go for ILP (Investment Linked Policies).

Endowments on other hand, is like a "Savings" plan, at the end, you probably cant combat inflation but you start having the savings habit. There are many kinds of savings be it for yourself, or for your younger generation. Usually you will need to pay for certain term and then when the policy matures there would be a lump sum given back to you. For this I have PruWealth and AIA Smart Flexi Rewards for this.

ILP would be like ProAchiever, where half of premium is for insurance half is for investment but they do it for you. This is for people like me who know nuts about Investment so a famous firm will do it for you. Usually the first few years your money is more for upkeep than to invest, and thus you will see results only in long run. There are however fixed premium term, but in a way no limit as to how long you want your money to roll, even after maturity. AIA Pro Achiever is an example for this. Of course, I have now been educated to alternative options such as Stashaway.

INCOME PROTECTION 

For Income Protection, then you gotta think lets say some bad luck falls upon you, how to get through it. So you think about disability income, hospitalization income, hospitalization payouts, accident payout and daily cash. Some policy only covers upon employment, some have waivers for unemployment, some are to cover freelancers, etc etc. For myself, I got the AIA Solitaire for Accident coverage to cover daily payouts upon hospitalization as that would be basically my income line. In case of an accident, my income is directly affected, so at least I can claim money for every hospitalization day, and also every week also have compensation. Post and Pre care is claimable too.

RETIREMENT 

For Retirement, there are also several ways you can go about it depending on what stage of life you are in. Payouts would be either Lump Sum or Annuity. Some would like to stretch the Premium Term while still in the workforce. Some would do a Single Premium so that they can right away get Annuity until certain age. Some people plan for retirement step by step like having Wealth Accumulation first until retirement then take up Single Premium.

OTHER INSURANCES

Then lastly is every other insurance for your assetss (car, house, travel, etc etc).

USEFUL LINKS to understand more, or just find your Insurance Agent friend :

Ultimate Insurance Guide
https://blog.seedly.sg/working-adults-key-insurance-policies-singapore/

For Whole Life Insurance
https://www.moneyline.sg/4-best-whole-life-insurance-plans-singapore/

For Hospitalization (Shield)
https://blog.moneysmart.sg/health-insurance/integrated-shield-comparison/

For Endowment
No perfect guide due to too many complicated variables

For Accident
https://blog.moneysmart.sg/personal-accident-insurance/best-personal-accident-insurance-singapore/

For Retirement
https://www.interestguru.sg/2019-in-depth-comparison-3-best-retirement-plans-in-singapore-with-high-income/