Young & Savvy: This Mother's Day, I'm spending $12,000 on mum's insurance

A 2018 study recommended that working adults should have critical illness coverage of about $316,000. ST PHOTO: JASON QUAH
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SINGAPORE - I was doing a regular review of my finances over the Good Friday weekend and was shocked to discover I was spending $12,863 a year on insurance.

This is a significant amount for someone who has been working for less than two years and only has one stream of income.

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