What insuance is requires for children?

bendi85

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8 years and 2 years old. Do they need life plan? Or hospital plan enough?
 

boredboiboi

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8 years and 2 years old. Do they need life plan? Or hospital plan enough?

Hospital is basic must have i would say, wholelife is cheap when they are young and also to ensure their insurability. More into critical illness and disabile protection for kids , as i always believe children death will not be an liability to parents.
 
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xtwis7

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In order of priority:
1. Hospital plan

2. PA plan for kids (mainly for HFMD, dengue, food poisoning and other minor accidents)

3. Life plan with CI because trust me, you and your spouse will not be able to function properly when your kids are in that state
 

bendi85

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Hospital is basic must have i would say, wholelife is cheap when they are young and also to ensure their insurability. More into critical illness and disabile protection for kids , as i always believe children death will not be an liability to parents.

Kids need CI or disability protection?
 

fr33d0m

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In order of priority:

3. Life plan with CI because trust me, you and your spouse will not be able to function properly when your kids are in that state

More money coming in due to? If it’s at the expense of someone, I’m sure nobody would feel good.

due to life plan with CI. What else?

What does life plan with CI provide when kids are in that state other than money?
 

moejoseph

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What's the premium?

$1 per year?

The chance is so low, the premium must be very low.

Or the insurance company sells something else.

The risk is equal for everyone, in fact infants and elderly have higher risks (due to lower immunity system). This is why hospitalisation plan, these 2 groups premium are higher.

If $1/year, payout probably also $1 😂
 

fr33d0m

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The risk is equal for everyone, in fact infants and elderly have higher risks (due to lower immunity system). This is why hospitalisation plan, these 2 groups premium are higher.

If $1/year, payout probably also $1 😂

CI or disability? Are you joking?

Hospitalization, yes. but CI or disability?
 

moejoseph

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CI or disability? Are you joking?

Hospitalization, yes. but CI or disability?

CI & Disability risks are the same for all. Nobody can predicts what is going to happen, right?

But in case of other illnesses which may lead up to CI or Disability (viral infection, even simple fever), yes they have higher risks if these minor illnesses are not taken care of properly.
 

fr33d0m

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CI & Disability risks are the same for all. Nobody can predicts what is going to happen, right?

But in case of other illnesses which may lead up to CI or Disability (viral infection, even simple fever), yes they have higher risks if these minor illnesses are not taken care of properly.

Most CIs are due to aging barring genetic defects.

So a child has the same aging problem as elderly?
 

moejoseph

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Most CIs are due to aging barring genetic defects.

So a child has the same aging problem as elderly?

That's a common misconception that child or even teenagers are less prone to critical illness. Less common occurance =/= less risks.

There have been cases of children getting stroke, sudden cancer or fever which leads to brain damage. Search online and these can be easily found

Albeit due to less common occurance (few claims amongst these age group, or coz most did not get a coverage for these when it happens), insurers usually disregard these. Which is why premium is low
 

fr33d0m

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That's a common misconception that child or even teenagers are less prone to critical illness. Less common occurance =/= less risks.

There have been cases of children getting stroke, sudden cancer or fever which leads to brain damage. Search online and these can be easily found

Albeit due to less common occurance (few claims amongst these age group, or coz most did not get a coverage for these when it happens), insurers usually disregard these. Which is why premium is low

get a statistics that shows children has the same probability of stoke, heart diseases(not born with).

Do you seriouly know the cause of stroke and hear diseases?
 

moejoseph

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get a statistics that shows children has the same probability of stoke, heart diseases(not born with).

Do you seriouly know the cause of stroke and hear diseases?

If u want to see a world report, here it is https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3255104/

Singapore report below.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.nrdo.gov.sg/docs/librariesprovider3/Publications---Stroke/singapore-stroke-registry-annual-reprot-2016_upload_nrdo_website.pdf%3Fsfvrsn%3Dc81670e4_0&ved=2ahUKEwinibiJyeHlAhUOfX0KHSTNBZ8QFjABegQIBRAJ&usg=AOvVaw2WRoTsgNY33-WqCb5GGuxe


Not gonna argue further as it is pointless. Just because it didn't happen to someone close, doesn't means it is not happening. Sometimes we have to look at the bigger picture as well
 

blackvice

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hospitalization plan, a must

Whole life bundled with ci as rider, more of a long term coverage for CI.

There is no right or wrong solution, only which are more suitable. Have know families, who used whole life as base, and top up with term plans as add ons etc...
 
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