Muffin, based on our friend's experiences with medical emergencies, we are most likely going ahead with the purchase since we have a bigger budget this time round.
Our budget was very tight when we had #1 cos I just started working then and income was very little.
Just a quick comparison and some scenarios we know of:
All other medical plans which you can purchase for baby after they are born have restrictions unlike this Prudential policy. The restrictions:
1. Coverage only takes effect after baby's first month (anything that happen within first month is not covered).
2. Coverage will not include congenetial defects/problems (means if the baby is born with certain problems, cannot claim)
My friend's baby was born healthy with no problems. Discharged from hospital together with mummy. However, just before his 1st month, he suddenly had bloated tummy and was crying in pain everyday. Then the parents brought to KKH and realised that the baby got blocked kidneys. The bloat was from the swollen kidneys which could not excrete the urine due to blockage.
And cos they delayed treatment, the baby's kidney has slight permanent damage already. Baby was hospitalised in ICU for a week and normal ward for 2 weeks.
Total cost after Medisave: $30k
They were considered Class B1 cos delivered in private hospital and when they tried to downgrade, it was based on their household income.
They tried claiming insurance but could not because it happened just before baby's first month.
And, for future insurance, kidneys will not be covered as the medical report given states that it is cogenetial.
For the Prudential policy, there is a list of medical conditions it covers (in my friend's case, if they bought this policy, it will cover them). And it states clearly the amount payout for different conditions/length of hospital stay.
I think it's worth sitting down with the agent to check out the details if you can afford it.
