Hello! I’m Amanda, one of the Insurance Specialists at Havend. I have been in the financial industry for about four and a half years, but my career did not begin here. Before entering the financial services industry, my career path was shaped by a deep love for animals. During my university holidays in 2013 and 2014, I worked part-time as a zookeeper, followed by nearly five years as a veterinary nurse. In these roles, I cared for a wide range of animals—from furry and feathered companions to those with scales—an experience that taught me patience, responsibility, and attention to detail.
While the work may seem far removed from finance, it laid an important foundation for how I approach my role today: with care, discipline, and a strong sense of responsibility for those who depend on me. My move into financial consulting was also shaped by deeply personal experiences.
The first was when my mother had to undergo thyroid surgery. As a family, we realised that her insurance coverage was not as comprehensive as we had assumed. The second was my own experience as a consumer—I never felt there was a safe space to ask questions or seek clarity without being pressured to commit. These moments shaped how I view insurance today, and why I chose to build my career in this field, and particularly in Havend.
My Life Stage and Financial Context
I am currently in my early 30s and part of a Dual Income, No Kids (DINK) household—with a cat. My husband and I do not plan to have children, but we do own a BTO flat that we are servicing through an HDB loan. We do not have financial dependants, as both my parents and my in-laws have planned adequately for their retirement.
Understanding my own life stage is key to how I structure my insurance portfolio—and this is the same approach I take with my clients.
How I Use Havend’s 5 Core Pillars
At Havend, we structure insurance planning around five core pillars: Life, Critical Illness, Disability Income, Hospitalisation, and Long-Term Care. These pillars help simplify what can often feel like a complex topic, making it easier to understand what coverage is needed at different stages of life—and why.
I apply this framework directly to my own insurance portfolio. By breaking each pillar down clearly for myself and my family, I ensure that every policy serves a purpose and supports my life goals. This allows me to truly “walk the talk.” Whatever I advise my clients is something I have considered and applied personally.
Currently, my insurance portfolio consists of four main policies (including riders):
- Whole Life Policy
- Multipay Critical Illness Coverage (up to age 65)
- Hospitalisation Plan with Rider
- CareShield Life Supplement
Below, I share how each policy fits into the five pillars, and why I chose them at different milestones in my life. Beyond my coverage, I also have an endowment plan to prepare myself for retirement as well, which I will also share why it is important to me.
Pillar 1: Life
I purchased my first Whole Life plan which covers Life, Total and Permanent Disability, and Advanced Stage Critical Illness at 26 years old, about three years into my first full-time role as a veterinary nurse. This was also the period when my mother underwent thyroid surgery, and our family realised how important adequate coverage truly was.
At the time, my parents encouraged me to get insured, and I signed up for my first Whole Life policy. While I did not fully understand the details then, the coverage was sufficient to provide for my family should anything happen to me.
Today, I have chosen to retain this policy. It is a 10-year pay plan, with only a few years left before it is fully paid up, after which I will remain covered for life. As I do not have dependants, I have not increased my life coverage further—this aligns with my current responsibilities and priorities.
Pillar 2: Critical Illness
When I transitioned into financial consulting at 29, conversations around early, intermediate, and late-stage critical illnesses became more prominent. Around me, I also saw peers being diagnosed with serious illnesses at a young age.
This prompted me to review my coverage and purchase a multipay critical illness policy covering me until age 65—my active working years. This ensures that if I were to experience multiple critical illnesses or a relapse, my critical illness coverage would give me the time and financial breathing room to focus fully on recovery, without the added stress of immediate financial concerns
I structured the coverage intentionally to exceed five years of expenses, giving myself sufficient financial runway as income levels change over time. In addition, my Whole Life policy provides an added buffer should I require alternative treatments later in life, beyond age 65.
Pillar 3: Disability Income
This is one pillar where I currently do not hold coverage.
As my role is primarily office-based and client-facing, a physical disability (for example, the loss of a limb) would not significantly prevent me from continuing my work. I am comfortable adjusting my lifestyle if necessary, and I assessed that the potential income impact would be manageable. Based on my personal risk assessment, I chose not to prioritise this pillar at this stage.
Pillar 4: Hospitalisation
Hospitalisation coverage is the most important policy in my portfolio.
I am covered under a public hospital Integrated Shield Plan with a rider. While MediShield Life provides a baseline level of protection, it comes with limits. Having my own hospitalisation plan ensures that I am protected from significant out-of-pocket medical expenses if I ever need inpatient or outpatient care.
I chose a public hospital plan because the hospitals closest to me are public institutions. Should I ever require treatment in a private hospital, I am comfortable paying a higher portion of the bill. Given how infrequently I expect this scenario, a private hospitalisation plan did not make financial sense for me.
It is also important to note that once hospitalised, upgrading plans in the future may not be possible—this was a consideration I made carefully.
Pillar 5: Long-Term Care (CareShield Supplement)
As I am over 30, I am automatically enrolled in CareShield Life, which provides a monthly payout if I am unable to perform at least three out of six Activities of Daily Living.
However, with rising healthcare costs and inflation in Singapore, I know this alone would not be sufficient. As someone who does not plan to have children, it is especially important for me to ensure that I have the financial means to support myself should I ever require long-term care or nursing home support. This is why I chose to supplement my CareShield coverage.
Retirement Planning
My husband and I invest with a long-term mindset, focusing on staying ahead of inflation while allowing time to compound our returns. Like many investors in Singapore, we recognise that market volatility is inevitable, but a well-planned time horizon helps smooth out short-term fluctuations and supports sustainable growth over the years.
While investments play a key role in building our retirement nest egg, I am equally mindful of the importance of stability. To balance growth with security, I have included an endowment plan as part of my overall financial portfolio. This serves as a safety net, providing reassurance that I will have a dependable source of funds should market conditions be less favourable as I approach retirement.
CPF LIFE forms the foundation of my retirement income strategy, offering a steady and lifelong stream of payouts. On top of that, my endowment plan provides an additional layer of income and flexibility. It can be structured as an annuity, giving me the option to reduce my exposure to market risk in later years if I choose. Together, these components allow me to build a retirement plan that is both resilient and adaptable, offering peace of mind in the uniquely Singapore context.
How My Portfolio May Evolve
Insurance planning is never static. My portfolio will continue to evolve as my life circumstances change.
If my husband and I decide to have children in the future, I would revisit my life coverage to ensure that my family is financially supported should anything happen to me. Similarly, if we take on additional liabilities—such as a car loan or upgrading our property with a bank loan—my life coverage would need to increase to prevent financial strain on my loved ones.
As my income grows over time, revisiting my critical illness coverage will also be important. Increased income often brings changes in lifestyle and financial commitments, and I want to ensure there are no gaps in coverage during recovery should a critical illness occur. This allows me to maintain financial stability and focus fully on healing.
Ultimately, I see insurance planning as an extension of IKIGAI—supporting different life stages by aligning what I do, what I earn, what I value, and what I need protection for. As my income and responsibilities evolve, my coverage evolves with me, so I can continue living with purpose and clarity.
A Final Thought
Every insurance policy you pay for should serve a clear and intentional purpose—whether it is protecting your family, safeguarding your income, or giving you the space to recover and move forward.
If you ever find yourself unsure why you bought a policy, it is time for a review. That is the role of a financial consultant: to revisit your life goals and ensure insurance continues to support them meaningfully.
At Havend, we strive to provide a safe and supportive space where clients are empowered with clarity and understanding—so that no matter where life takes you, your insurance remains a reliable foundation in achieving your goals.
This is an original article written by Amanda Wong, Insurance Specialist at Havend.
