facebookLooking for recommendation for newborn life and medical insurance plan. Any recommendations? - Seedly

Anonymous

16 Jul 2020

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Insurance

Looking for recommendation for newborn life and medical insurance plan. Any recommendations?

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Hariz Arthur Maloy

16 Jul 2020

Independent Financial Advisor at Promiseland Independent

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!

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