Insurance for newborn

[stjoe1]

Hi,

I have a newborn baby and have taken enhance shield from GE for hospitalisation cover.

Now I am thinking of getting life and CI insurance for my baby.

Any recommendation from new parents here?

Thanks

 

[iseethesun79]

AXA has a new plan that covers newborn even before they are born. Check out their website, my wife just bought. Can pm me also, i recommend you my agent.

 

[masato4]

Hi,

I have a newborn baby and have taken enhance shield from GE for hospitalisation cover.

Now I am thinking of getting life and CI insurance for my baby.

Any recommendation from new parents here?

Thanks

PM sent

 

[phoniexone]

prudential have a plan called pru first gift that can cover your baby b4 he/she is born while giving some protection to your wife.

but i think your baby is already born right? you should compare a lil bit amongst company before deciding =)

send me a pm and i give you the contacts of the agent =)

 

[yoshihara]

Hi,

I have a newborn baby and have taken enhance shield from GE for hospitalisation cover.

Now I am thinking of getting life and CI insurance for my baby.

Any recommendation from new parents here?

Thanks

Get ILP and early stage for your newborn. However whats important are you and your wife's policies coz u guys are the breadwinners. Can always pm me if you have any questions.

 

[sgtsickox]

True, best option for newborn will be investment link policy as the charges are low! Just did 1 for a 9mth old baby. I personally feel that it is way better than all the endowment plans.

Most parents get ILP for newborn so that there is enough coverage in the event of any accidents, and it serve as a saving plan for the kids future fund( education etc ).

Pm for further questions.

Hope it helps!

 

[Nakedtoes]

I m interested also.. My baby gal coming out in few mths time. Pls pm me the details.

Ts hope u dun mind. Congrats to yr new born...

 

[pew]

True, best option for newborn will be investment link policy as the charges are low! Just did 1 for a 9mth old baby. I personally feel that it is way better than all the endowment plans.

Most parents get ILP for newborn so that there is enough coverage in the event of any accidents, and it serve as a saving plan for the kids future fund( education etc ).

Pm for further questions.

Hope it helps!

ILP should not be used as a education savings plan.

What if market crash during the year u need money?

 

[pew]

I am representing AIA and I have a 9 month old boy.

For basic, get a shield plan that covers private hospital as charged and a rider that cover 100 percent of the bill as well as immediate family member accommodation benefit. ( also pays for your bed if your child is hospitalised)
Get an accident plan which also covers dengue and hand foot and mouth disease.
Certain critical illness occurs more commonly during childhood like Kawasaki disease, severe asthma, leukaemia etc. make sure u get your child covered for that as well. ( just a few dollars a month)

On top of that, you might want to start planning for the child's education.
This is something I wouldn't compromise or leave anything to chance. If you look at most endowment plans or 'education savings plans'. The guaranteed maturity is less than the amount you put in. So study properly before I commit, dont take what the agent says as gopel truth. Sorry if I sound a bit worked up with my previous post. But I wouldn't agree on using ILP as a education plan.
Imagine your child does well in his A Levels and can make it into university. But just nice that year is recession, u lose your job, lose your savings. And in bad times, ILP would probably not be doing too well also. So instead of buying insurance, u are actually buying a risk. How are you going to tell your child u got no money for his education. And to those agents who recommend ILP as education savings plan, how are you going to face your clients.

Besides that, you might also want to consider a seperate life plan or perhaps an ILP.
To bundle or not to bundle Critical Illness, whether you want coverage for early stage or relapse? All these is individual preference.

 

[Panerex]

Hi,

I have a newborn baby and have taken enhance shield from GE for hospitalisation cover.

Now I am thinking of getting life and CI insurance for my baby.

Any recommendation from new parents here?

Thanks

Is GE medishield the most popular plan for newborn babes now?

 

[sgtsickox]

Yup, but still the client's decision after viewing their risk profile

 

[PRUbombz]

Is GE medishield the most popular plan for newborn babes now?

If you go compare the benefits/features and premium, I would reckon AIA and Prudential is pretty competitive right now.

 

[chaotank]

ilp is the best! why? cuz the agent gets the most commission from it.

don't take what agents say at face value.

you can upgrade your shield with the rider to cover hospitalisation. that's about all you'd need.

people get insurance to cover their liabilities in case something happened to them (cover the mortgage, loss of income for the family etc), your child has no financial burden as of now, not for a decade or two. there is no point in getting your child covered. your emergency fund should be sufficient to handle minor stuff like hfm or dengue since the hospitalisation is already covered by the shield plan.

wrt to savings for your child's education, if u have any investment knowledge at all, it would be a better idea to manage it yourself. there's a reason why ilp can offer agents such thick commissions. the money has to come from somewhere. if it's not clear enough, your money is helping your agent send his kid to montessori while your kid goes to pap kindergarten.

endowment plans are the last resort if u really have no idea what to do with your child's education monies.

best of luck!

 

[Saj.Mahal]

Hi,

I have a newborn baby and have taken enhance shield from GE for hospitalisation cover.

Now I am thinking of getting life and CI insurance for my baby.

Any recommendation from new parents here?

Thanks

All shield plans pass. I like to think Pru's shield plan is rather attractive now.

I would like a small SA limited pay life plan for my children
I would like to buy a larger SA early stage illness plan for my children
(I don't have any children at the moment)

Give yourself a chance to meet another 1-2 different agents if you have the time. Pretty sure you will see a difference in personality, work ethics and knowledge.

 

[chopra]

First of all, it's good that you asked in HWZ. You are not the first - you should do your homework by using the SEARCH function. There are so many debates about the pros and cons of life/ilp/endowment plans. These are EXPERIENCE and RESEARCH and HOMEWORK done by many. Do your own assessment and NOT JUST listen to one or two agents. Listen to the BUYERS as well. Then, make your own assessment.


IMHO, a shield plan should be sufficed for baby. I can never understand why people opt for life/term plans for baby. To me, a term plan is an insurance to provide coverage to FAMILY member(s) if he/she cannot work - term/permanent disability/critical illness. A baby does not need to work, so buy life/term/ilp for what? As crude as it may sound, if a baby falls into the event of death/tpd/CI, all he/she needs is a hospitalisation shield plan. I have come across some families with ill-kids in my social involvement-- i can rest assure you what i said so far make many sense.

A life/endowment plan has exorbitant cost. If you are damn worried that university fees will soar to crazy prices in the future, read up investment books. If you are super low risk, invest in a 20yr government bonds -- 2.65%. There are higher yield bonds/preference shares, such as OCBC Preference Shares (3+%), LTA/HDB (3%), Genting/Hyflux (>5%). If you are even more risky, opt for gold/stock investment.

My 2 cents, again.

 

[hhanzorion]

Why do you want to get a Life Insurance for your kid?
Instead you should get a Endowment.

Will you be better off if you get a claim from it?
Dont waste that hard earn money on things that is not your priority.

Would you be touched if you get a maturity payout in your 20s for your college from your parent, instead of an assigned Life Insurance Policy.

 

[Panerex]

I am inclined to get a limited whole-life pay plan for my newborn. Reasons:
1) cheaper premium
2) lower risk of exclusion
3) payment liability ends at a young age for the baby,and able to enjoy full life coverage
4) if cash is needed at a later stage, the plan can be liquidated for cash (possibly with gains from the guaranteed surrender cash and accumulated bonus)

makes sense?

 

[betahardwarezone]

I am inclined to get a limited whole-life pay plan for my newborn. Reasons:
1) cheaper premium
2) lower risk of exclusion
3) payment liability ends at a young age for the baby,and able to enjoy full life coverage
4) if cash is needed at a later stage, the plan can be liquidated for cash (possibly with gains from the guaranteed surrender cash and accumulated bonus)

makes sense?

I think make sense if you have extra money for the policy and you and your wife had already fully covered.

 

[pew]

First of all, it's good that you asked in HWZ. You are not the first - you should do your homework by using the SEARCH function. There are so many debates about the pros and cons of life/ilp/endowment plans. These are EXPERIENCE and RESEARCH and HOMEWORK done by many. Do your own assessment and NOT JUST listen to one or two agents. Listen to the BUYERS as well. Then, make your own assessment.


IMHO, a shield plan should be sufficed for baby. I can never understand why people opt for life/term plans for baby. To me, a term plan is an insurance to provide coverage to FAMILY member(s) if he/she cannot work - term/permanent disability/critical illness. A baby does not need to work, so buy life/term/ilp for what? As crude as it may sound, if a baby falls into the event of death/tpd/CI, all he/she needs is a hospitalisation shield plan. I have come across some families with ill-kids in my social involvement-- i can rest assure you what i said so far make many sense.

A life/endowment plan has exorbitant cost. If you are damn worried that university fees will soar to crazy prices in the future, read up investment books. If you are super low risk, invest in a 20yr government bonds -- 2.65%. There are higher yield bonds/preference shares, such as OCBC Preference Shares (3+%), LTA/HDB (3%), Genting/Hyflux (>5%). If you are even more risky, opt for gold/stock investment.

My 2 cents, again.

200 per month, buy what bond?

Different strokes for different folks.
Different people have different ideas. I have met people with very bizarre ideas on wealth accumulation which most people frown on. But after listening to him, it actually makes sense.

 

[MaoZeDuo]

All things aside. Ts chiu dunch noe te rules ar? prease gpgt chiur baby.

and gxgx