This is a discussion on what are the insurance to buy for newborn? within the Year 2011 and earlier Mummy forum, part of the Mummy Meeting Place category; anyone care to share your experience?...
anyone care to share your experience?
I just bought a few.
1) personal accident from tenet, if both parents buy baby is free, if only 1 parent buy baby is $25. This insurance is for claims if baby fall down n injured can even claim for traditional chinese medicine, as well as diseases like hand-foot-mouth or food poisoning.
2) medishield one + rider so can go private and not pay a single cents, as baby get fever easily with that i can get doctor to admit her for 1 nite for observation to be safe at private hospital and not worry about the bills.
3)Life insurance to buy at a younger age is cheaper and because baby is born with no health condition means if anything its claimable. the ins cover CI/TPD/Death for a period of 25yrs plus a clause that if daddy left us suddenly the ins will go on w/o us maintaining.
Planning to get the following when hand not so tight:
So that when she finish her university the loan can be cleared by the endownment.
My insurance agent is a very nice lady with young childrens, she is a Independent Financial Adviser, hence she can sell policy of different company and she will compare the best that can fits our budget. Due to she is also a mummy who wants the best for her kids she came out with the best for my child too=) If you like to get her contact can PM me
So far I bought the hospitalisation for my son.....will buy the life and education for him in near future
Will ask my hubby about it cos' he is the one who advise to buy the hospitalisation....
Hi mummies, I would like to know, if both parents have company group hospitalization benefit for baby, do they still need to buy insurance for baby out of their own pocket? thanks!
Hi Knut, I think that depends on what are the coverage of the company group benefits. However, I think its better to have buy your own ins for your child, as your company wun be giving protection for life. Somemore now economic no good difficult to say if we can keep our job for long, what if retrenctment happens?
I agree with chantal that its better to buy your own. In the event of a claim while your family is still covered under the group plan, the condition will be excluded should you decide to change jobs and buy other plans in the market. You may want to check if your company coverage is portable and comprehensice enough, meaning that you can still choose to be covered under the plan should you leave the company.
Its better to buy life insurance for kids early so premiums are clocked in at their age but its more important to ensure that parents are well covered before looking into kid's coverage so that should anything happen to the parents, the kids get a sum of money for 'survival sake'.
For kids, if budget is an issue, be sure to get a Hospitalisation plan with rider attached so the entire bill can be claimed and to get a education plan first so that your child has an option if he/she wnts to further their studies in future
The fact is should something happen to our kids, as parents we are still working and can get by financially.
i bought this personal accident and endownment plan for her, so when she is ready for university, the cash can be taken out, ready to pay her education fees. i bought from HSBC insurance, if you need the number of my agent, i'd be glad to~
I bought the following policies for my baby.
1) Hospitalisation Policy + rider (For hospitalisation - Illness and Accident)
2) Investment-Linked Policy (For Education)
3) Limited Pay Whole Life Policy (For coverage - Death / TPD / Critical Illness)
Next policy I am looking into is a Accident plan that covers HFMD.
I just bought hospitalisation policy + rider for my girl too... For now... this is more crucial as environment is more vulunerable to a child.. especially she is going child care in jan.... the rest as years go.. see how then...
Hi, just to check how much is the hospitalization + rider cost?
I have budget issue hence researching on the cost before deciding which to buy?
I've PM you my agent number, in case you be interested.
if budget is an issue, then buy the hospitalisation basic plan first, can pay by medisave. In future when you have the $ then you add the rider in? the only risk is if the health status change.
Basic plan at their age is less then $200 (medisave), if add rider, the rider is less then $250 cash.
You may wanna consider getting a Personal accident plan too, my gal has one that covers for HFMD, 2 weeks after she started childcare, poor gal,i made a claim. Total 3 visits to the doctor costs me close to $300. So this year premium more then covered. lol!
Personal accident plan quite cheap, one year less then $120. Can pay monthly one some more.
If you interested, PM me?
Hi, can you tell me more about the hospitalisation+rider plan? I need 1 as my son goes to infant care & gets sick very often., the sch now wants everytime to get a FIT letter from the doctor.. I've yet To buy any insurance for my son. Thanks much
The hospiatlisation is actually an enhancement to the basic medishield which is very minimal. As it is a Hopitalisation plan, it only covers when the insured is warded...but more often then not when it comes to children, the hospitals often play safe and ask them to be warded even when we as parents feel it may not be so serious. My gal had fever late last year and as it was quite high, i brouht her to KK and because she threw up the milk she drank, the doctor advised us to ward her for observation and fear of dehydration. I insisted on bringing her home though, not because i didn't want to incur the hospital bill as she is covered but becuase i didn't think she was in that bad condition.
Anyway, the benefits of the basic hospitalisation plan a lot of detailsso if you are really keen, you can pm me for more details.
Other then that, they offer a rider to avoid out of pocket expenses. if you buy the basic plan alone, 1) there is a fixed amount you have to pay first either by cash or medisave,the amount depends on the ward you choose, and then 2)there is also a co-insurance amount of 10% of the balance after deducting the fixed amount so if you do not get the rider and the bill comes up to a big amount, the 10% will work out t a lot.
Ok will pm you for more details
It seems that your plan is quite comprehensive, can you PM me your insurance agent please? thanks!!