Financial Experts

 
Do you have any questions regarding financial planning or insurance questions? Do send your questions to us. Our financial experts will help you answer them.
 

 

 

 
 
Goh Ee Fann ChFC CLU is an insurance professional representing Prudential Assurance Company (S) Pte Ltd

Q. What kind of Insurance should a new parent buy for their new born baby?

Buying insurance for children sounds like a very good idea as the premiums for the policies are usually cheaper for their young age and serves as a good savings plan. However, parents should take up insurance for their children with the following objectives in mind:

  1. Lock in low premium rates for their children at a younger age, so that they can have better coverage at a lower price.
  2. Inculcate a savings habit by asking them to continue their insurance plan after they start working.
  3. Having a head start in saving a lump sum for children’s housing or further education soon after they start working.
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