Wat insurance to buy for baby?
- Thread starter mcr
- Start date
smiggleprincess
Active Member
shld get a IFA...those idependent financial advisers who can sell all products and not jus prudential or income...
they will help u with ins for baby..
min must get one life policy and savings policy
currently in the market, tm asialife, uoblife and NTUC income got the cheapest premiums for life policy.
they will help u with ins for baby..
min must get one life policy and savings policy
currently in the market, tm asialife, uoblife and NTUC income got the cheapest premiums for life policy.
i hv a May 06 ger, to me, hospitalization policy is impt. I oso feel a whole life policy is more impt than endowment policy if ur funds r limited. Not only becos it's cheaper to buy whole life policy for them when they r young but oso cos the younger they r, the fewer illnesses/exclusions they r likely to hv...imagine if u leave it to ur child to get his/her own whole life policy when he's an adult. If he had any hospitalization history etc b4 that, he would most likely be excluded.
if u r looking for any Prudential advisor, pls feel free to PM me for details. So far, their Prushield plans r better than most other companies' healthshield plans. Esp wif means testing coming up & cancers becoming such a prevalent condition nowadays, it helps to be able to go to a private hosp where diagnosis treatment is not delayed. Their Prushield policy allows u to use ur Medisave to buy a plan that is as charged (full cost payable by insurance) for A wards in pte hosp & u can just use cash to top up on a rider which relieves u of any co-payment.
if u r looking for any Prudential advisor, pls feel free to PM me for details. So far, their Prushield plans r better than most other companies' healthshield plans. Esp wif means testing coming up & cancers becoming such a prevalent condition nowadays, it helps to be able to go to a private hosp where diagnosis treatment is not delayed. Their Prushield policy allows u to use ur Medisave to buy a plan that is as charged (full cost payable by insurance) for A wards in pte hosp & u can just use cash to top up on a rider which relieves u of any co-payment.
I would definitely recommend coverage for medical expenses.
Good thing I bought for my son when he was little....cos he has acute bronchitis twice and during times like that, you don't want to worry about how much it cost where what's critical is to ensure he gets the proper care. Both hospitalisations came up to over S$5K in total. All settled by AIA. Phew
Good thing I bought for my son when he was little....cos he has acute bronchitis twice and during times like that, you don't want to worry about how much it cost where what's critical is to ensure he gets the proper care. Both hospitalisations came up to over S$5K in total. All settled by AIA. Phew
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..
first_born
Member
This is what I've got for my boy the minute I complete my confinement.
1. Prushield + Prushield Extra
This is to cover hospitalisation charges. With the rider, my whole hospital bill will be reimbursed, up to the annual limit.
2. 25 yr endowment plan.
This is to save up for his education. The term of the plan depends on how old your child is, whether he's boy or girl, and when do you expect to get the money. For me, I prefer to hv the money when he completes his basic university degree.
3. Investment linked product.
This is a life insurance plan where the returns are based on investment returns. I prefer this as it's more flexible in terms of the premiums paid n the sum assured. I add riders to cover for critical illness and kids illnesses and accidental death n dismemberment. If nothing happens, my boy is likely to be a millionaire when he retires.
The above is just my preference. Every household/parent/child has their unique insurance needs, therefore it's always a good idea to sit down with your trusted advisor to go through your financial status and expectations and navigate from there. One man's junk is another man's treasure, so the above might be perfect for me, but not anyone else.
Yes. I'm a prudential advisor.
No. I'm not trying to sell anything here.
Yes. you can PM me if you would like to find out more.
No. Not every person I meet will end up buying from me. So, be assured there's no obligations to buy anything you don't like.
*Sorry moderator, you can delete this post if it's not appropriate.*
1. Prushield + Prushield Extra
This is to cover hospitalisation charges. With the rider, my whole hospital bill will be reimbursed, up to the annual limit.
2. 25 yr endowment plan.
This is to save up for his education. The term of the plan depends on how old your child is, whether he's boy or girl, and when do you expect to get the money. For me, I prefer to hv the money when he completes his basic university degree.
3. Investment linked product.
This is a life insurance plan where the returns are based on investment returns. I prefer this as it's more flexible in terms of the premiums paid n the sum assured. I add riders to cover for critical illness and kids illnesses and accidental death n dismemberment. If nothing happens, my boy is likely to be a millionaire when he retires.
The above is just my preference. Every household/parent/child has their unique insurance needs, therefore it's always a good idea to sit down with your trusted advisor to go through your financial status and expectations and navigate from there. One man's junk is another man's treasure, so the above might be perfect for me, but not anyone else.
Yes. I'm a prudential advisor.
No. I'm not trying to sell anything here.
Yes. you can PM me if you would like to find out more.
No. Not every person I meet will end up buying from me. So, be assured there's no obligations to buy anything you don't like.
*Sorry moderator, you can delete this post if it's not appropriate.*
Just adding a little of my thoughts to this thread.
This is how I will prioritise the purchase of insurance when there is a new baby in a family.
1. A shield plan for baby - Minimally a 1-bed in Govt Structured Hospital, so that a parent can stay with the child when he/she is hospitalise.
2. A shield plan rider for baby, so to cover the co-insurance and/or the deductible.
3. Re-assess the insurance cover the the parents, top up with term or wholelife plan, disability plan, critical illnesses, etc if necessary. If an additional member in the family, what was previously adequate may not be so now.
4. Wholelife Plan with Critical Illness Cover for baby, preferably one that covers non-preexisting congenital or inherited disorder - To ensure that the baby is insurable before anything happens or detected in the future.
5. Endowment or Education Plan
6. Investment Plan
Last but not the least, have a will. I will want to determine how my estate to be distributed, or who to control the distribution, if I pass on from this world.
This is how I will prioritise the purchase of insurance when there is a new baby in a family.
1. A shield plan for baby - Minimally a 1-bed in Govt Structured Hospital, so that a parent can stay with the child when he/she is hospitalise.
2. A shield plan rider for baby, so to cover the co-insurance and/or the deductible.
3. Re-assess the insurance cover the the parents, top up with term or wholelife plan, disability plan, critical illnesses, etc if necessary. If an additional member in the family, what was previously adequate may not be so now.
4. Wholelife Plan with Critical Illness Cover for baby, preferably one that covers non-preexisting congenital or inherited disorder - To ensure that the baby is insurable before anything happens or detected in the future.
5. Endowment or Education Plan
6. Investment Plan
Last but not the least, have a will. I will want to determine how my estate to be distributed, or who to control the distribution, if I pass on from this world.