delightfulbags
Member
Maternity plans cover pregnancy complications and baby congenital issues. Can start to apply from 16 weeks up to 36 weeks ( differs from insurer to insurer)
Can get from
- Axa ( bundled with either ILP/savings/whole life plan)
- AIA (bundled with ILP)
- GE/Ocbc (no bundle)
- Prudential (bundled with ILP)
- Ntuc (no bundle)
After baby is born, quickly buy a hospital plan (shield plan) - if baby is pre-term (under 37 weeks) then can only buy from Aviva under moratorium underwriting option cos all other insurers will postpone the case and ask you to apply in 1-3 years time.
For full term babies, get a shield plan with rider from a suitable insurer. Ntuc has affordable rider premiums (payable in cash) as age band increases while the others may have an option to pay monthly. If budget is an issue, get the shield plan without rider first - that can be paid with cpf medisave and helps to cover at least any major events in the event of hospitalisation.
For Zika cover, get a personal accident plan that covers infectious diseases from insurers like Sompo or NTUC
For babies, whole life plan with limited premium term is cheap. While death benefit for a child is not important, the critical illness and total and permanent disability cover benefit is very important.
Also start thinking about education planing - 4 years degree course will cost about $120k or more in 20 years. Starting early helps. Although it is also possible to take study loans from banks or use CPF OA (if not depleted from housing purchase)
$100 per month at 2% interest compounding for 20 years will get you about $29k.
Can get from
- Axa ( bundled with either ILP/savings/whole life plan)
- AIA (bundled with ILP)
- GE/Ocbc (no bundle)
- Prudential (bundled with ILP)
- Ntuc (no bundle)
After baby is born, quickly buy a hospital plan (shield plan) - if baby is pre-term (under 37 weeks) then can only buy from Aviva under moratorium underwriting option cos all other insurers will postpone the case and ask you to apply in 1-3 years time.
For full term babies, get a shield plan with rider from a suitable insurer. Ntuc has affordable rider premiums (payable in cash) as age band increases while the others may have an option to pay monthly. If budget is an issue, get the shield plan without rider first - that can be paid with cpf medisave and helps to cover at least any major events in the event of hospitalisation.
For Zika cover, get a personal accident plan that covers infectious diseases from insurers like Sompo or NTUC
For babies, whole life plan with limited premium term is cheap. While death benefit for a child is not important, the critical illness and total and permanent disability cover benefit is very important.
Also start thinking about education planing - 4 years degree course will cost about $120k or more in 20 years. Starting early helps. Although it is also possible to take study loans from banks or use CPF OA (if not depleted from housing purchase)
$100 per month at 2% interest compounding for 20 years will get you about $29k.