Singapore | Do Newborns Need Insurance?

New parents often ask, “Do newborns need insurance?” The answer depends on your financial situation. The purpose of insurance is to transfer the risk of financial loss. Parents need to consider if they can afford the medical expenses if their child unfortunately requires treatment due to an accident or illness. Do you need insurance to share this risk? If you’re still unsure whether to insure your child, read this article before making a decision!

Reasons for Newborn Hospitalization

There are many reasons why newborns may need to be hospitalized. The most common is “respiratory diseases,” such as bronchitis, croup, asthma, flu, and pneumonia. Other common reasons include “infectious and parasitic diseases,” “endocrine, nutritional, and metabolic diseases,” and “digestive system diseases.” The fourth most common reason is “conditions originating in the perinatal period,” which refers to complications due to premature birth, such as insufficient gestational age and low birth weight.

Why Do Newborns Need Insurance? Which Types Are Essential?

Newborns are susceptible to viral infections, respiratory diseases, and more, which can sometimes require hospitalization. Buying insurance for newborns helps parents share the cost of medical and caregiving expenses, ensuring that the child can receive higher quality medical care. Generally speaking, basic medical insurance, accident insurance, and critical illness insurance are essential for newborns.

When Is the Best Time to Buy Newborn Insurance?

The best time to buy newborn insurance is from the 13th week of pregnancy. Therefore, it is recommended that parents plan their insurance coverage before the child is born. As soon as the child is born, register their birth and complete the insurance application to activate coverage as early as possible.

What Should New Parents Pay Attention to When Insuring Their Newborn?

New parents need to be well-prepared before purchasing insurance. Determine the insurance needs and make the relevant plans before the baby is born. Apply for the baby’s birth certificate and complete the newborn screening as soon as they are born. Obtain the baby’s identification number and insure them as soon as possible.

Insurance Needed for Infants

Infants, like adults, face various risks of illness and accidents. The recommended insurance types, in order of priority, are as follows:

  1. Hospitalization Insurance: Infants have an immature immune system, leading to higher medical risks. Hospitalization insurance is the most important, especially since many new treatments require out-of-pocket expenses.
  2. Accident Insurance: Infants are more vulnerable to accidents. It is recommended that parents purchase accident insurance, which includes coverage for burns, hand-foot-mouth disease, and reimbursement for accident-related medical expenses.
  3. Critical Illness Insurance / Cancer Insurance: Although the incidence of cancer in infants is low, the treatment costs can be very high if it occurs.
  4. Life Insurance: The purpose of life insurance is to leave a sum of money to the beneficiary in the event of the insured person’s death. If the parents have a sufficient budget, they can purchase life insurance for the baby after birth.

Don’t Forget Parents’ Own Protection

Parents often think about transferring risks and purchase various insurance policies for their newborns as soon as they are born. However, it’s more important to ensure that the parents themselves have adequate protection. As the primary source of income for the family, parents need insurance even more than their children!


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Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

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