When my mum had me, she only got me covered with a life insurance. Not only till I am older that she got me covered with hospitalisation insurance.
1. MediShield Life & Integrated Shield Plans with RidersThis is most important and I would even say almost-compulsory to protect your child from unforeseen circumstances that would lead to hospital-stays or even treatment. Touch wood, really! But better to be safe than never.MediShield Life covers every Singaporean and Singapore Permanent Residence , MediShield Life will pay a portion of the hospital bill if anything were to happen to your child.
Integrated Shield Plan and their RidersIntegrated Shield Plan covers another portion of the hospital bill. Adding on to an Integrated Shield Plan Rider will provide your child with more comprehensive coverage in case of hospitalisation.Integrated Shield Plan and their RidersThere are a total of seven insurers in Singapore that provides integrated shield plans.Here is the list of integrated shield plans to choose from:2.
Story continuesWhy Should You Get a Whole Life Insurance for Your Child?Optional: Additional Early Critical Illness CoverageTerm Life Insurance Plan for Your Child InsteadThis is another option if you are unable to afford whole life insurance for your child at the moment. However, Some might feel it is unnecessary, the reason being:At the end of it all, to each its own I guess. After all, insurance is to pay for the ease of mind.4. Increase Coverage for YourselvesDon’t forget to relook into your coverage for you and your spouse now that you have an additional person that is dependant on you. Hariz Arthur Maloy – “Do make sure that you and your partner are adequately covered first. Because they depend on you to have a solid future for themselves.”5.