If I were to buy insurance for a newborn, should I buy term or whole life insurance? - Seedly

PFF Panel 1

Family

Seedly PFF 2019

Insurance

Asked by WaiKiat Lai

Asked on 02 Mar 2019

If I were to buy insurance for a newborn, should I buy term or whole life insurance?

5

Answers (2)

Sort By

Most Upvote

  • Most Upvote
  • Most Recent
Dawn Fiona
Dawn Fiona
Level 5. Genius
Updated on 03 Mar 2019

Hi! I personally didn't buy any of the two on my son's life. You may read more here: http://www.sgbudgetbabe.com/2018/07/what-are-top-5-insurance-plans-that-you.html

I've bought 1 and 2 in that list.

0 comments

1

If you can afford, a whole life would make sense.

However, in the event you are worried about insurability, yet may want an affordable 1,term is also fine.

If you are OK to wait, and feels that insurability can wait, they can settle their own insurance themselves. Just help them get hospitalisation aka shield plans ISP plans. (single most important and very affordable).

0 comments

0