Your parents bought you insurance - is it enough today? | Money Talks

Taking over an insurance policy from your parents may seem straightforward, but many people do not fully understand what they are paying for or whether the coverage still suits their adult needs. Should you keep, upgrade or surrender these plans? Chan Wai Kit from Life Insurance Association Singapore explains how to assess inherited insurance policies.

Highlights:
00:20 Inheriting an insurance policy
01:29 Risks of overlapping insurance plans
02:47 Policies parents usually buy
04:03 Should you cash out?
06:40 What to do if you can't reach your agent
08:34 What to review first
12:29 Common inherited policy mistakes
15:36 Is inherited coverage enough?
17:58 Can inherited plans be upgraded?
21:05 First thing young adults should do

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