3 must-have insurance policies for your child (in Singapore)


It is instinct of every parent to protect their child. A mother’s protection doesn’t just depend on their instincts alone, but smart decisions and careful planning. To make sure you baby is protected from day 1, you might want to look at insurance policies for your child. There are different insurance policies which you can consider for your child in Singapore. Here is why and how you should get an insurance policy for your little one in Singapore.

Must-have insure policies for your child in Singapore

What should you consider when looking at an insurance policy for your baby? Here we have listed 3 must have insurance policies which you can consider to ensure protection of your baby. So, here we go:

1.      Child Life insurance

This is one of the most common and well-known insurance plans for your child in Singapore. Most parents might be aware of this, although having a life insurance on your child may not be talked much about as it will allow parents to receive a payout in case of any mishappen. Be it death, critical illness, or permanent disability.

Benefits of getting a life insurance for your child

Here are some reasons why you should consider to get a life insurance policy for your child:

  • You can lock their insurability when they are young.
  • After paying for specific years, your child will be able to experience insurance coverage till 99.
  • If premiums to your insurance plan are same during complete years, you can get to lock-in at lower prices. Because it will be cheaper when you are going to buy an insurance at younger age.
  • A life insurance policy can help you financially as well. This is the ultimate benefit of considering a life insurance for your child. In a case of severe illness where one parent must quit their job to take care of child, the family may experience financial burden. But if your child is insured under an effective insurance policy then coping will be a lot easier for the family.  

Tip: Term life insurance plans are a good alternative if you are unable to get a life insurance policy. In some cases, you are also allowed to turn your term life insurance into a life insurance plan with ease. Therefore, in either way, parents should also consider term life insurance plans.

2.      MediShield Life Shield Plans

MediShield Life is compulsory for all Singapore citizens and Permanent Residents. It will assist your family financially if the child is put in any unforeseen circumstances which can lead to hospital treatments or even hospital stays.

What does MediShield Life Shield Plans can protect your child from?

  • If something has happened to your child then this insurance policy will cover a portion of hospital expenditures. Newborns and baby’s tendency of falling sick is higher, therefore, considering this health insurance plan can be a better option for you.
  • Considering buying a private integrated shield plan for your newborn baby as it will allow the coverage of your child at high-class wards in both public and private hospitals.
  • Integrated plan coverage will offer your child more comprehensive benefits during hospitalization ( on top of covering hospital bills.
  • However, do note that you must stay in a hospital for at least eight hours to make claims for the hospital bill, OR be admitted for day surgery.

Not every insurance company in Singapore is offers the provision of the integrated shield plan. Therefore, it is always smart to compare the terms, conditions and coverage plans before buying your child’s MediShield life insurance.

3.      Personal Accident Child insurance

As babies are curious and have no sense of hygiene or cleanliness, they often try to put objects in their mouths or touch everything that they come across. This makes children more accident prone than adults. Because they are unaware of the danger’s of this world, a personal accident child insurance is worth considering.

A personal accident child insurance can cover your child in the following case:

  • Accidents
  • Injuries
  • Illnesses (e.g Hand Foot Mouth Diseases)
  • Food Poisoning

Different insurance companies can offer you different levels of coverage under this insurance policy. So, it is always essential to make sure that your chosen insurance company is offering you the best coverage under personal accident child insurance. Unsure of what comparison’s to make? Click me.

Get help that can benefit you more

Are you concerned about the costs associated with raising a child? “SG Mummy and Baby” is perfect for you. We will show you how to handle medical related issues of your baby through planning in the best possible way.

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