Page 14 - 5. June 2016

ಸಂಪುಟ ೬, ಸಂಚಿಕ ೬, ಜ್ನ್, ೨೦೧೬
ಉಪ್ಯುಕಿ ಮಾಹಿತಿ

Here are 10 things to keep in mind when planning medical insurance for your newest addition:

1. Kids are expensive – It’s staggering to think that the average cost of raising a child from birth to secondary
school is at least $276,400 (Money Smart Singapore May 2015). ‘So cheap la’, said no one, ever. While the
average cost of hospital visits when your child is an infant is around $5,000, this amount can be offset or
completely covered by newborn coverage. Phew.

2. Immediate coverage Newborn insurance ensures that your tiny tot will be covered for medical costs from
day dot. You can rest easy knowing that should your

baby need to visit A&E, or pop to the doc, that the
bills will be taken care of.

3. Direct billing – OK, direct billing is hands down the
BEST part about having good health insurance. Noth-
ing beats whipping out your insurance card and having
the medical provider swipe it through their wonderful
machine without you having to reach for your credit
card. Winning!

4. Shorter waiting periods – Most serious health issues
will become apparent in a newborn’s first weeks of
life. Therefore, you want to find a plan with the short-
est waiting period possible so you can claim expenses.

5. Know the extent of your coverage – The best newborn insurance plans make all restrictions clear and ex-
plain the underwriting process so you know exactly how you are covered. It’s nice to know you can make
important medical decisions quickly already knowing your financial exposure (if any).

6. In case it doesn’t all go quite to plan – Sometimes life has a way of throwing us a curve ball. If your child is
born with a serious medical condition, the last thing you want to worry about is having to foot exorbitant
medical fees. Some newborn plans cover such an eventuality, leaving you free to focus on the wellbeing
of your child.

7. Vaccination coverage – OK so we are making an educated guess here and presume that you are not an
anti-vaxxer. After a jab, a balloon or jellybean will help dry your little one’s tears, and knowing that you
won’t be slugged with a $300+ doc bill will stop you form crying too.

8. Affordable deductibles – You can tailor your plan to suit your current and expected future situation. There
is a perfect plan out there for you with a deductible that you consider affordable.

9. Freedom of choice – We all like to be able to choose our preferred doctor or hospital. You can find a plan
that best suits your needs – and it can be as general (i.e. private or public) or as specific (i.e. Parkway
Shenton Group of doctors / hospitals) as you like.

10. Help is at Hand – So how do we navigate through the seemingly endless confusing options and choose the
right deal. Look for any well established consultant and proceed on this.

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