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Hariz Arthur Maloy
16 Jul 2020
Independent Financial Advisor at Promiseland Independent
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Hey Anon, medical insurance for baby, AIA Healthshield Gold Max is a no brainer with no waiting period for juvenile conditions while most others have a 1 year waiting period.
And for limited pay whole life plan with Early Critical Illness, Aviva, China Taiping, or Manulife are fine choices.
I would recommend to get around 1 year of household annual income as coverage for baby as that will allow parents to take a break to care of the child should they fall critically ill.
Do consider a Personal Accident plan as well, Sompo has a good offering.
And start saving for their future education. Set aside 3-5% of household income as savings for them.
All the best new parent!