Why insuring your child early matters

By Jermaine Koh

If you’ve only got a minute:

• Getting insurance coverage for your child early helps shield your child and family from large medical costs due to accidents or illnesses.
• Securing insurance from a young age often comes with lower premiums and fewer exclusions in the coverage, offering broader protection as your child grows.
• Starting early with insurance savings plans can fund long-term goals such as university education, giving your child a stronger financial foundation. 

As a parent, one of the most important steps you can take to secure your child’s future is to ensure they have adequate insurance coverage. In Singapore, where healthcare costs can be significant, having insurance tailored to your child’s needs provides both financial security and peace of mind throughout their development from infancy to adulthood.

First layer of security for both mother and child

Maternity insurance

Maternity insurance in Singapore typically starts coverage from the 13^th week of pregnancy. This insurance safeguards both mother and baby against complications arising from the 2^nd trimester onwards.

It offers lump sum payouts or daily hospital cash benefits for conditions like gestational diabetes or postpartum bleeding or congenital disorders such as cleft palate and heart defects. Some plans also include coverage for premature births or neonatal intensive care (NICU). 

Routine prenatal scans, obstetrician visits and standard delivery costs are excluded from maternity insurance and are typically covered by other schemes like MediShield Life.

Coverage can usually be purchased between 13 and 36 weeks of pregnancy, a period when the pregnancy is generally more stable and the risk of early complications has significantly decreased.

How Integrated Shield Plans compare

Integrated Shield Plans (IPs) differ from maternity insurance. While maternity plans offer lump-sum payouts, IPs work on a reimbursement basis, covering hospitalisation costs for serious pregnancy complications or certain congenital conditions. IPs do not cover routine pregnancy care or normal deliveries.

To get enhanced coverage for your baby, you can consider getting an IP for your child after birth.

Source: Made for Families

Each of these types of coverage serves a different role in protecting mother and child and complement one another.

Why early insurance coverage makes a difference

Children, especially infants and toddlers, are vulnerable to sudden illnesses like bronchiolitis, pneumonia, or severe gastroenteritis, which can lead to hospital admissions and high medical costs.

On average, 10% of nearly 400 children visiting KK Women’s and Children’s Hospital (KKH) emergency department each day do so for serious health concerns.

Early insurance coverage ensures access to quality care without the added financial stress, allowing you to focus on your child’s health and recovery.

Locks in lower premiums

Getting insurance for your child when they are young often means more affordable premiums and more comprehensive coverage. Early enrolment helps secure protection before any health conditions develop, reducing the risk of exclusions or higher premiums later in life.

Supports long-term goals

Insurance isn’t just about emergencies. You can also start building savings for your child’s future such as tertiary education or major life milestones. By starting early, it gives your child a valuable head start.

Types of insurance for children at different life stages

Children’s insurance needs evolve as they grow. Here’s a look at the relevant coverage at each stage:

Coverage specifics vary by insurer, but typically include hospital stays, surgery, ICU, congenital conditions (e.g., cleft palate, Down’s syndrome) and infectious diseases.

Some plans also offer pre and post hospitalisation benefits and coverage for outpatient treatments.

DBS insurance plans for children

DBS offers affordable insurance plans tailored to protect children and families:

Both plans allow you to safeguard your children against accidents and certain infectious diseases, helping ensure your child is protected at every life stage.

In summary

It’s never too early to start protecting your child’s future. In fact, do so while your child is still in the pink of health because once he develops a medical condition, it may be challenging to get full medical cover.

By securing insurance coverage from a young age, you’re giving your child a lifelong advantage: financial protection, affordable premiums, and a safety net that supports them through illness, injury, and key life milestones.

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Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.