Insurance for baby


Dear Brenda,

I have previously replied to another thread that shares great similarity to yours. Below is my reply and I hope it can help you :)

Congratulations on being a mother-to-be!

Planning your medical benefits for yourself and your family may be a little tricky. To help you in identifying your priorities and what kind of cover you are seeking specifically, the first step is to ask yourself these questions first:

1. Are you looking to cover hospitalization expenses(no complications) for yourself, your newborn, or for both?
2. Are you looking to cover hospitalization expenses(with complications) for yourself, your newborn, or for both? (ectopic pregnancy, neo-natal care etc.)
3. Are you looking to cover future treatment/lifestyle expenses for your new born in the event congenital illnesses? (club foot, cerebral palsy etc.)

After you have identified what coverage you want, then you can move on the kind of cover that best meet your needs.
 
Yeah, I can understand what you're going thro, Brenda. If you dont mind, I can recommend my AIA agent to you. She's in her 30s, been in this job since graduation, committed and professional...
 
I'm just looking for something for my newborn. :)

Perhaps something that covers for hospitalization(inpatient) and equally as important is an accident cover(outpatient). This way you will be able to achieve a water tight framework of medical benefits for your newborn.

Setting aside a small monthly amount for your new born can be a good idea as well in preparation for your newborns's inevitable university education.
 
I'm very kiasu, i usually get quotes from at least 3 agents. AIA/Prudential/GE then i will push them very hard on good offers. You'll be surprised how some agents can be not truthful when they quote you. Some can be dirt cheap but many things not covered. I go to the point where i even compared number of illness from each company, amount of freebies they give (not interested in things like cheapo umbrellas but looking at shopping vouchers), types of coverage. For example i bought the pregnancy coverage and for newborn. AIA cover NICU & HDU but Prudential only cover NICU not HDU (high dependency unit) which doesn't make sense for me at all since if kana big time after NICU will downgrade to HDU then how if not covered?
From there then you will be able to differentiate between those newbies blur agents and those really good ones where i use them for future legacy plans so i know i won't get cheated if i buy a 1M or 2M policy from them.
 
Pantieileen, how abt policy for newborn? U ended up buying from which company? I understand that some insurance company even allow claims for normal medical matters.
 
Hi, I bought from a cousin from a reputable insurance company previously. But when I was expecting my 2nd child I had an independent financial advisor to assess all my policies, and the one which I bought from cousin turns out to be more expensive, with lesser coverage too. So I terminated my policy and switch to another one as recommended by my financial advisor.

There are many products in the market now, I think it's better if you can seek opinions from an IFA before you decide which one to buy. Usually IFA are able to assess the various products and advise one which is most suitable to us.

Good luck
 
Hi, I bought from a cousin from a reputable insurance company previously. But when I was expecting my 2nd child I had an independent financial advisor to assess all my policies, and the one which I bought from cousin turns out to be more expensive, with lesser coverage too. So I terminated my policy and switch to another one as recommended by my financial advisor.

There are many products in the market now, I think it's better if you can seek opinions from an IFA before you decide which one to buy. Usually IFA are able to assess the various products and advise one which is most suitable to us.

Good luck
 
Hmm I hav bad experience wit IFA, most of the time they recommend plans that has a higher commission.
I've learn tat all insurance is good as long as it suit my needs, there's nothing much to compare. Whatever agents advice ill still judge n analysis myself.
 
Hi Brenda,
Other than educational policies, personally I feel hospitalisation insurance is a must. As you never know. Both my boys r very prone to bronchitis and pneumonia as the respiratory is not good. thank goodness I did. they both had been admitted at age of 6months to 2 years for different reasons. All convered by insurance. each billed amount was ard 4-5k. I bought mine from AIA. There's no hard and fast rules which service provider you should go for. I engaged an insurance broker as they are mutual and not representing any companies where I had bad experiences with ins agent trying to sell and sell. Go with what you need abd your budget..and which agent you feel comfortable with I think is more important. Hope this helps :)
 
Hospitalization. Pls get riders too so that u dun haf to fork out a single cent.

I got mine fr aia. My boy is now in hospital. 5 nite stay already 6k exc pd charges. N he has not been discharged. My agent told me that as I got the rider, I do not haf to pay a single cent
 
Oh meowmeowing, I hope all is good with your boy? I can still recall the 3 times I camped a week in the hospital for each episode. Its draining and worrying. Take good care of yourself and I hope you have some help to relief you so you can catch some rest.
 
Oh meowmeowing, I hope all is good with your boy? I can still recall the 3 times I camped a week in the hospital for each episode. Its draining and worrying. Take good care of yourself and I hope you have some help to relief you so you can catch some rest.

Hi

Thanks. He is getting better. Hopefully can discharge soon. I got mine fr aia wif rider. So all covered. I m more is. Got the most comprehensive one that covers the private hospital. Our rationale is that it is easier to downgrade than to upgrade. So he can decide in future if he wan to downgrade. Also coz my fren'is daughter had lukemia, n they had a bad exp at kkh. So they change to mt Elizabeth. All fully paid. Touched wood, but I want the option too if my boy has to be hospitalized.

His 6 days stay at mt Al already reach 6k.

One really cannot afford to fall sick in sg
 

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