junebabyboi09
New Member
Hi, this is my first baby and I was told to get insurance for the baby right after the baby is born. But I don't know what kind of insurance should i buy. Pls advice.
Advice needed: Insurance for babies.
- Thread starter junebabyboi09
- Start date
chinkerina
Member
junebabyboi09
I'm Rina from Great Eastern Life.
Do email me if you have questions for me.
No obligations.
FYI,
When your baby is born as long as you have CPFMA, your baby is covered under CPF BOARD MEDISHIELD. you have to upgrade it to intergrated plan to have higher cover.
Once you have hospital and surgical plan, Very cheap plan. Then sit down and calculate your budget for your bb Life or saving plan. H&S plan is most important!
[email protected]
I'm Rina from Great Eastern Life.
Do email me if you have questions for me.
No obligations.
FYI,
When your baby is born as long as you have CPFMA, your baby is covered under CPF BOARD MEDISHIELD. you have to upgrade it to intergrated plan to have higher cover.
Once you have hospital and surgical plan, Very cheap plan. Then sit down and calculate your budget for your bb Life or saving plan. H&S plan is most important!
[email protected]
my question is i read that this medishield integrated plans do cover pregnancy complications and also birth defects. However there is a waiting period of 24 months from the policy inception date, for birth defects, before the coverage is in effect. So means?? lets say i take up the plan now, the baby wont be covered till 2 years later. issnt it? thats what is puzzling me.
hi fortune,
yes some companies do offer coverage on pregnancy complications and birth defects and have this waiting period.
That means that if one have given birth during the waiting period and happens that there is any pregnancy complications or birth defects, she will not be entitled to claim for the bills. and even when the baby turns 2 years old thereafter. it will still not be applicable.
However, if one have taken up the plan for more than 24months, and subsequent faced with complications etc, she will be entitled to the claim.
Hope this is clear for you.
yes some companies do offer coverage on pregnancy complications and birth defects and have this waiting period.
That means that if one have given birth during the waiting period and happens that there is any pregnancy complications or birth defects, she will not be entitled to claim for the bills. and even when the baby turns 2 years old thereafter. it will still not be applicable.
However, if one have taken up the plan for more than 24months, and subsequent faced with complications etc, she will be entitled to the claim.
Hope this is clear for you.
Hi Shippo
i understand there are a lot of plans available in the market. hence, sometimes it may be quite confusing for consumers.
But it really depends on individual needs and concern which a good planner will be able to help you prioritise your goals and help you in your decision making.
Generally for savings plan, one will prefer to look at the returns, which will voice down to the company past performance, the guaranteed portion etc. i will not go to in depth in case that sounds too confusing.
You may get the quotes from the various companies and do a comparison yourself but it may be quite tedious for one who doesn't have much time and one who is not familar. It can be quite time consuming and maybe at the end of the day, there are new plans in the market again.
I will suggest alternatively you may consider to engage an independent financial planner to assist you in this area for a more objective advice and comparison. It will definitely help you to save time and money.
i understand there are a lot of plans available in the market. hence, sometimes it may be quite confusing for consumers.
But it really depends on individual needs and concern which a good planner will be able to help you prioritise your goals and help you in your decision making.
Generally for savings plan, one will prefer to look at the returns, which will voice down to the company past performance, the guaranteed portion etc. i will not go to in depth in case that sounds too confusing.
You may get the quotes from the various companies and do a comparison yourself but it may be quite tedious for one who doesn't have much time and one who is not familar. It can be quite time consuming and maybe at the end of the day, there are new plans in the market again.
I will suggest alternatively you may consider to engage an independent financial planner to assist you in this area for a more objective advice and comparison. It will definitely help you to save time and money.
happymrskoh
Member
Hi Rina,
What does CPFMA stands for? Does it mean that if I have CPFMA, my baby will be automatically covered under CPF Board Mediashield? Can help elaborate further?
'When your baby is born as long as you have CPFMA, your baby is covered under CPF BOARD MEDISHIELD. you have to upgrade it to intergrated plan to have higher cover. '
Please advise. Thanks.
What does CPFMA stands for? Does it mean that if I have CPFMA, my baby will be automatically covered under CPF Board Mediashield? Can help elaborate further?
'When your baby is born as long as you have CPFMA, your baby is covered under CPF BOARD MEDISHIELD. you have to upgrade it to intergrated plan to have higher cover. '
Please advise. Thanks.
Hi mummies
Just a suggestion, I recently just buy a saving policy and hospitalisation policy for my baby.
My husband compare a few insurance company Manulife, Great Eastern, Prudential.
For hospitalisation, Prudential is better because baby only need to be at hospital for 8 hours and he is able to claim his medical expenses but for Great Eastern he need at least 12 hours.
For saving, I buy from Manulife because their interest is highest among all.
If anyone interested, I can give you guys my agent number.
Just a suggestion, I recently just buy a saving policy and hospitalisation policy for my baby.
My husband compare a few insurance company Manulife, Great Eastern, Prudential.
For hospitalisation, Prudential is better because baby only need to be at hospital for 8 hours and he is able to claim his medical expenses but for Great Eastern he need at least 12 hours.
For saving, I buy from Manulife because their interest is highest among all.
If anyone interested, I can give you guys my agent number.
mickeymummy
New Member
i think e most impt one is to buy hospitalisation plans first.. coz' it can be very expensive when our little one fall sick.. e other plan i think is to "up" your own coverage so term policies r good enough. We should have more coverage just in case anything happen to us, our little ones have financial security
blueybubble
New Member
I am thinking of buying the hospitalisation plan for my baby. However, if I purchase the medishield plan, the first $3000 of the bill has to be paid by me first. Did anyone get the plan which covers the baby's hospitalisation bill in full? If I'm not wrong, the yearly premium is about $300. Thankies in advance!
meilinbigfoot
New Member
Dear all,
Hospitalisation plan is a MUST! My No.1 was hospitalised at 5 month 2 years back but I couldn't claim for the first 3k.
With No.2, I bought the TotalShield in addition to SupremeHealth (both from GE) not knowing that he would be hospitalised so soon...
Hospitalised last week for 2 days. $1500. Even the lab tests which he did before hospitalisation ($600) can be claimed. After discharged, the checkup cost can also be claimed.
Hospitalisation plan is a MUST! My No.1 was hospitalised at 5 month 2 years back but I couldn't claim for the first 3k.
With No.2, I bought the TotalShield in addition to SupremeHealth (both from GE) not knowing that he would be hospitalised so soon...
Hospitalised last week for 2 days. $1500. Even the lab tests which he did before hospitalisation ($600) can be claimed. After discharged, the checkup cost can also be claimed.
Below is what I hv planned for my baby coming in Aug 09
1) Private Hospital Plan (Full coverage with Medisave + Cash Plan) ~ $20+/mth
2) Accident Plan with $5K medical expenses cover (add as a rider to whole life or education savings plan will be cheaper) ~ $7+/mth
3) Whole Life $100K (good to buy cos very cheap since baby is so young) ~ $180+/mth pay 10 yrs cover whole life
4) Investment Plan for Education ~ $150/mth (actually for 3 yrs uni study in spore, will need $300/mth savings so im using an old plan to top up the shortfall)
These are what I think is best for my baby. Hope it helps. Btw, Im a life planner with Great Eastern
1) Private Hospital Plan (Full coverage with Medisave + Cash Plan) ~ $20+/mth
2) Accident Plan with $5K medical expenses cover (add as a rider to whole life or education savings plan will be cheaper) ~ $7+/mth
3) Whole Life $100K (good to buy cos very cheap since baby is so young) ~ $180+/mth pay 10 yrs cover whole life
4) Investment Plan for Education ~ $150/mth (actually for 3 yrs uni study in spore, will need $300/mth savings so im using an old plan to top up the shortfall)
These are what I think is best for my baby. Hope it helps. Btw, Im a life planner with Great Eastern
perfect_moment
New Member
Is there any insurance which i can buy first for the my unborn baby?
So that he will be fully cover upon birth
So that he will be fully cover upon birth
Earliest you can buy for hospitial, accident, whole life, education savings plans is 1 month after baby is born.
However, there are plans to cover certain birth defects like down syndrome, premature birth requiring neonatal ICU, etc. Such plans has a waiting period of 10 months before coverage. So if you are already pregnant, it will be too late to buy for this child.
However, there are plans to cover certain birth defects like down syndrome, premature birth requiring neonatal ICU, etc. Such plans has a waiting period of 10 months before coverage. So if you are already pregnant, it will be too late to buy for this child.
closetdoor
Active Member
Hi,
This is what I got for my bb aft 1 mth:
Accident and Hospitalisation
Endownment
The most impt one is Accident and Hospitalisation Plan cos hospital bills can cost a bomb. But touch wood, hope nothing happens.
Children have their own A&H plan. ie some terms are different from age 21 onwards plan.
A&H plans are quite affordable. But these are term plans therefore no money back at end of tunure. I think lowest premium should be about $15 per mth. There are many classes that covers different things. Get one within your budget. Can always switch to higher plan if you upgraded your salary. LOL
Life and Endownment are not so impt lah - to me.
Endownment is just to save up for their uni fees. If you are a financially savvy person, your own portfolio should provide quite a nest in 21 years.
Life is more for those with dependents. You only get $$ if you kenna very jialat illness or die...
I dun like to get linked products eg endownment link to accident and hospitalisation. The coverage is not as full. And you have to consider if you will make a loss if you wanna switch plans in the future.
Do call up a few insurers and meet up to get them to explain their plans. All of their coverage is a bit different. And only get from those agent who really knows their product. I kenna some agents who left and my policies are like ping pong balls now. Unable to locate servicing agent.
This is what I got for my bb aft 1 mth:
Accident and Hospitalisation
Endownment
The most impt one is Accident and Hospitalisation Plan cos hospital bills can cost a bomb. But touch wood, hope nothing happens.
Children have their own A&H plan. ie some terms are different from age 21 onwards plan.
A&H plans are quite affordable. But these are term plans therefore no money back at end of tunure. I think lowest premium should be about $15 per mth. There are many classes that covers different things. Get one within your budget. Can always switch to higher plan if you upgraded your salary. LOL
Life and Endownment are not so impt lah - to me.
Endownment is just to save up for their uni fees. If you are a financially savvy person, your own portfolio should provide quite a nest in 21 years.
Life is more for those with dependents. You only get $$ if you kenna very jialat illness or die...
I dun like to get linked products eg endownment link to accident and hospitalisation. The coverage is not as full. And you have to consider if you will make a loss if you wanna switch plans in the future.
Do call up a few insurers and meet up to get them to explain their plans. All of their coverage is a bit different. And only get from those agent who really knows their product. I kenna some agents who left and my policies are like ping pong balls now. Unable to locate servicing agent.
Hi Zun Bao,
Hospitalisation plan for baby is the same as adult, which is the Medisave plan + Cash plan to cover deductible and co-insurance. For me since Im from Great Eastern, I will be getting the SupremeHealth P Plus and Totalshield Platinum for my baby. This will cover fully for hospitalisation fees in private hosp, no matter if its due to illness or accident.
For accident plan, there are plans specially catered for children. However, for me, I think most important is to be able to claim for accidental medical expenses so I will just add as a rider into the whole life plan for my child, cos for $3+/mth I can get $5K medical expense reimbursement coverage which you cant get it in those plans for children. Usually those plans hv other small small benefits like daily hosp cash, etc. Depends whether u think those other benefits are impt to u or not.
Hospitalisation plan for baby is the same as adult, which is the Medisave plan + Cash plan to cover deductible and co-insurance. For me since Im from Great Eastern, I will be getting the SupremeHealth P Plus and Totalshield Platinum for my baby. This will cover fully for hospitalisation fees in private hosp, no matter if its due to illness or accident.
For accident plan, there are plans specially catered for children. However, for me, I think most important is to be able to claim for accidental medical expenses so I will just add as a rider into the whole life plan for my child, cos for $3+/mth I can get $5K medical expense reimbursement coverage which you cant get it in those plans for children. Usually those plans hv other small small benefits like daily hosp cash, etc. Depends whether u think those other benefits are impt to u or not.
reading all those insurance things gives me a headache. been trying to decide for the last 3months and still do not know which one i should take up.
does anyone has comments on the following plans?
Whole Life Plans->
Company: TM Asialife
Product: Legacy plus DD rider
Company: NTUC
Product: Vivolife
Company: Manulife
Product: Life Protector Plus with CI rider
Term Plans ->
Company: NTUC
Product: Family Insurance Plan (10yr or 25yr non-renewable)
Company: Manulife
Product: 10yr renewal & convertible Manuterm
I'm still waiting for my GE guy to get back to me (6weeks already! vomit blood ah)then will have more plans to headache abt. anyone can give their comments would be appreciated
XOXOXO from an insurance-challenged mummy
does anyone has comments on the following plans?
Whole Life Plans->
Company: TM Asialife
Product: Legacy plus DD rider
Company: NTUC
Product: Vivolife
Company: Manulife
Product: Life Protector Plus with CI rider
Term Plans ->
Company: NTUC
Product: Family Insurance Plan (10yr or 25yr non-renewable)
Company: Manulife
Product: 10yr renewal & convertible Manuterm
I'm still waiting for my GE guy to get back to me (6weeks already! vomit blood ah)then will have more plans to headache abt. anyone can give their comments would be appreciated
XOXOXO from an insurance-challenged mummy
So far I have compared whole life plans for my clients and most of them take up Vivolife from NTUC Income becos of the following benefits:
- Flexible premium term (10 to 25 years) to limit your liability and much lower premiums for the same amt of coverage
- Up to 2x additional coverage for accidental death
- Retrenchment waiver which waives up to 6 months
- Protection against death, permanent total disability and major illnesses (i.e. cancer, heart attack).
- Can receive a lifetime stream of monthly payments upon reaching age 60
For hospitalisation, our enhanced incomeshield plus rider is at very affordable premiums (1 year about $140: $70 paid using medisave).
Do drop me an email or call me @ 91789824 if you are interested to find out more.
- Flexible premium term (10 to 25 years) to limit your liability and much lower premiums for the same amt of coverage
- Up to 2x additional coverage for accidental death
- Retrenchment waiver which waives up to 6 months
- Protection against death, permanent total disability and major illnesses (i.e. cancer, heart attack).
- Can receive a lifetime stream of monthly payments upon reaching age 60
For hospitalisation, our enhanced incomeshield plus rider is at very affordable premiums (1 year about $140: $70 paid using medisave).
Do drop me an email or call me @ 91789824 if you are interested to find out more.
alvamar_jy
Member
Hi
Every insurer has their Pros and Cons.
U just need to really understand what you are buying and why? Different people will tell u different insurer worth the money. But end of the day, you have to decide urself. Not forgeting the advisor who will run all the work for you.
Planning for adult and planning for children are 2 different set of strategies.
Do drop me an email @ [email protected] if you need help.
Every insurer has their Pros and Cons.
U just need to really understand what you are buying and why? Different people will tell u different insurer worth the money. But end of the day, you have to decide urself. Not forgeting the advisor who will run all the work for you.
Planning for adult and planning for children are 2 different set of strategies.
Do drop me an email @ [email protected] if you need help.
closetdoor
Active Member
Hi zhizunbao,
sorry for late reply. I got the policies from AIA. I cannot remember the name. Missed out critical illness, its also impt. But I got it later on.
So far, I like Manulife and AIA - the agents I know are very knowledgable being in the line for ~10yrs. Maybe I suay, keena "touch and go" agents from GE and NTUC. Chk out the agents' yrs of exp also... You dun wanna be in the position where you need to claim ins and cannot find anyone.
sorry for late reply. I got the policies from AIA. I cannot remember the name. Missed out critical illness, its also impt. But I got it later on.
So far, I like Manulife and AIA - the agents I know are very knowledgable being in the line for ~10yrs. Maybe I suay, keena "touch and go" agents from GE and NTUC. Chk out the agents' yrs of exp also... You dun wanna be in the position where you need to claim ins and cannot find anyone.
happiemummy
New Member
hi all,
i'm a mummy of one boy age 15 mths and i'm also a financial planner too
you can drop me an email at [email protected]
i'm a mummy of one boy age 15 mths and i'm also a financial planner too
you can drop me an email at [email protected]
For $150k whole life coverage against death, permanent total disability and critical illness the monthly premium is $92.50 and $106.90 per month for your baby gal and boy respectively.
You only need to pay the premiums for 25 years and get back every cent upon reaching 15 years starting from today.
Most likely for myself, I'm planning a hospitalisation, a life policy and an education policy. (",p)
You only need to pay the premiums for 25 years and get back every cent upon reaching 15 years starting from today.
Most likely for myself, I'm planning a hospitalisation, a life policy and an education policy. (",p)
kaylas_mom
Member
i have been trying to procure a H&S insurance policy for my 3 mth baby gal for some time and have been rejected by Prudential, NTUC Income, AXA, Aviva. (GE no news).
My girl was born premature and has a condition called Patent Ductus Arteriosus (PDA) in which a duct in the heart did not close up. I thought the insurers would exclude the heart in the policy coverage only but NO....nobody wanted to offer her anything for such a minor condition!
Does anybody have any advice? which other insurer can i turn to?
My girl was born premature and has a condition called Patent Ductus Arteriosus (PDA) in which a duct in the heart did not close up. I thought the insurers would exclude the heart in the policy coverage only but NO....nobody wanted to offer her anything for such a minor condition!
Does anybody have any advice? which other insurer can i turn to?
kaylas: as ur baby is still very young, i believe most or all insurers do not want to take up the risk. N as for exclusion, as the heart is the most vital part in a human, it is hard to just exclude heart issues as it connects to the whole body itself n give lives itself. You may have to wait till ur girl is bigger to try apply again. perhaps u can try endowment or life plan.
pingwen1703
New Member
Afternoon
Hi
Sorry to disturb the thread, my name is Angela, an insurance adviser with NTUC for 7 yrs. Feel free to email me for any policy illustrations or any policy enquiry or retirement planning.
Children's education is the most important asset for any child, and university fees is always on the rise, hence it is wise to plan for the child's school fees NOW.
My email will be [email protected]
rgds
Angela
Hi
Sorry to disturb the thread, my name is Angela, an insurance adviser with NTUC for 7 yrs. Feel free to email me for any policy illustrations or any policy enquiry or retirement planning.
Children's education is the most important asset for any child, and university fees is always on the rise, hence it is wise to plan for the child's school fees NOW.
My email will be [email protected]
rgds
Angela
fionaaarenang
Member
Hi all,
I'm a mummy of a lovely 9 months old boy, also a financial consultant with Prudential. =)
I focus mainly on children policies, especially children with special needs as my own son was born with a condition.
I understand the frustration, worries and queries of many parents.
Feel free to contact me at [email protected] if you need any advice on insurance policies without obligations.
Cheers,
Fiona.
I'm a mummy of a lovely 9 months old boy, also a financial consultant with Prudential. =)
I focus mainly on children policies, especially children with special needs as my own son was born with a condition.
I understand the frustration, worries and queries of many parents.
Feel free to contact me at [email protected] if you need any advice on insurance policies without obligations.
Cheers,
Fiona.
My friend’s newborn daughter was admitted to hospital on 5th day after birth due to jaundice and stayed in hospital for 2 days and 1 nite. Unfortunately, the baby girl was not covered by any hospitalization insurance by then. I’m wondering when those major hospitalization plan take effective and can cover those hospitalization immediately after birth.
I’m looking for hospitalization plan for my to be born baby with reasonable premium with private hospital covering and unconditional renewal. Any recommendation? Thanks!
I’m looking for hospitalization plan for my to be born baby with reasonable premium with private hospital covering and unconditional renewal. Any recommendation? Thanks!
huiqi16
Member
Hi mummies,
just to share what I have bought..
Hubby and I have just bought Manulife Aviva My Shield Plan 1 and my baby gets covered for free, under Plan 2.
Annual Premium is around $150plus for entry age below 30. Whats more, its payable using your medisave. We also took up a rider under Manulife H&S to cover our co-insurance n deductible.
Under recommendations from our agent, we took up Life Protector Plus for my boy
I was introduced to my agent from Manulife through my friend who highly recommended this agent..
This agent is very friendly n patient. Most importantly, not pushy!! Some agents I have met are very pushy. This agent whom I bought the policy plans, in fact gave very good service. We told him our budget n concerns n efficiently, proposed us plans which met to our needs.
We have also bought Manulife Life Protector 20 for my boy which the monthly premium is around $120. This plan is good as we only need to pay 20 yrs n my boy will get to be covered for the rest of the life.. Bonus point of this plan is that there are 2 riders inclusive of this plan that includes the payor n payor spouse... If I remembered correctly, it meant that should any thing happen to the payor, the policy will still carried on n do not need to pay the balance premiums..
if any mummies keen to get my agent's contact.. do PM me.. I will be glad to share..
Do note that Im not an agent myself.. just want to share the good experience that I have..
just to share what I have bought..
Hubby and I have just bought Manulife Aviva My Shield Plan 1 and my baby gets covered for free, under Plan 2.
Annual Premium is around $150plus for entry age below 30. Whats more, its payable using your medisave. We also took up a rider under Manulife H&S to cover our co-insurance n deductible.
Under recommendations from our agent, we took up Life Protector Plus for my boy
I was introduced to my agent from Manulife through my friend who highly recommended this agent..
This agent is very friendly n patient. Most importantly, not pushy!! Some agents I have met are very pushy. This agent whom I bought the policy plans, in fact gave very good service. We told him our budget n concerns n efficiently, proposed us plans which met to our needs.
We have also bought Manulife Life Protector 20 for my boy which the monthly premium is around $120. This plan is good as we only need to pay 20 yrs n my boy will get to be covered for the rest of the life.. Bonus point of this plan is that there are 2 riders inclusive of this plan that includes the payor n payor spouse... If I remembered correctly, it meant that should any thing happen to the payor, the policy will still carried on n do not need to pay the balance premiums..
if any mummies keen to get my agent's contact.. do PM me.. I will be glad to share..
Do note that Im not an agent myself.. just want to share the good experience that I have..
oinkoink1512
New Member
Hi
My HB is a snr financial consultant in Prudential.
If anyone interested to explore Educational funding or insurance, PM me for comprehensive financial planning with no obligation.
Thanks
My HB is a snr financial consultant in Prudential.
If anyone interested to explore Educational funding or insurance, PM me for comprehensive financial planning with no obligation.
Thanks