Anonymous
I just recently have a son and am thinking through financial planning for the family, what are the important points that I should take note and what products are suitable?
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Hariz Arthur Maloy
24 May 2019
Independent Financial Advisor at Promiseland Independent
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In order of importance.
1) Hospitalization with Rider (pays for medical bills)
2) Early Critical Illness Coverage (in case child falls ill, parents may need to stop work, this helps replace some of the income loss in such a scenario)
3) Personal Accident Coverage (Mainly for the medical reimbursement benefit should they have an injury or illness like HFMD and don't end up in the hospital)
You can also consider saving 5% of your income into an Endowment or an Investment Tool for future Education needs.