The most important insurance plan for your baby

On Good Friday morning, I received a call from a friend asking about the medishield plan for her baby girl as she has to be hospitalized for further investigation due to persistent cough. Sensing that she was abit lost, I explained to her the admin procedures and told her not to worry about the hospitalization bill as the shield plan has already incepted.

I visited them at the hospital later in the day. It pains your heart to see a 3 month old coughing her lungs out. The last thing you want to worry about is the hospital bill.

A good shield plan is the most basic plan for everyone. And when it comes to children, some advisers will use emotional selling to try and sell endowment, whole life or ILPs without even mentioning shield plans. Commission is primary reason.

After getting a shield plan for the baby, the emphasis of the protection portfolio should be placed on the parents who are the the care-givers and income providers. As parents are  more willing to spend on children rather than on themselves, again, emotional selling is used to sway the parents towards getting some plans for the child instead of for themselves. This is much easier than convincing the parents to protect themselves.

If you really love your children, get them a good shield plan and then get yourself well protected. Only think about getting more policies for them after that.

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