Income has a complimentary 1-year health insurance plan for your child

For this purpose, you may wish to speak with an Insurance Agent from the respective insurers, or one that works with multiple insurers. For the latter, you are able to obtain in-depth insights on the pros and cons of each plan from the various insurers.

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Meanwhile, let me explain further on the AIA healthcare insurance (AIA HealthShield Gold Max) and the additional Critical Illness (CI) payout that you are referring to. In detail, this is an additional limit that you may claim from your policy, on top of the limit per policy year under the maximum claim limit. For example, if you are looking at AIA HealthShield Gold Max Plan A, the total policy year claim limit will increase from $1,000,000 to $1,100,000, and up to a maximum limit per policy year of $2,000,000 under the maximum claim limit. To put it another way, this benefit increases the amount that you may claim under your policy, and not as a seaprate payout that you may receive from the insurer (a few of the people that I know had this misconception previously).

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To point out, AIA is not the only insurer with this benefit. For example, Singlife’s shield plan has a similar benefit as well.

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In either case, I would say that in most cases, this benefit shouldn’t be the single most important factor for consideration when you look at healthcare insurance for your child. For example, other aspects for consideration would be the efficiency of claims, the difficulty in claiming, how well you work together with your agent (to assist you in any post-sales servicing work), the number of doctors and medical institutions on the insurer’s panel, and the list goes on.

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Furthermore, long-term affordability may also be a question that comes into place. After all, money is a limited resource and you would want to ensure that you are able to afford the long-term cost of premium, while ensuring that your quality of life won’t be reduced at the same time.

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As you can see, there are a lot more aspects to consider when attempting to select the best healthcare insurance scheme for your child. Hence, this is why I would suggest you to speak to a professional who is able to help you to that end.