Compare Life Insurance

What is types of insurance are relevant to your child? Parenthood comes with many challenges, we hope this will help simplify the process of acquiring the best insurance for your children.

1. Prenatal InsurancIES

You can buy insurance for your child before he or she is born. Prenatal insurance protects you financially by paying a lump sum of $5,000 in the case of 3 local insurers, in the event of pregnancy complications or congenital diseases when your child is born. Investment-linked policies are the most expensive type of plans with the lowest coverage, so you might wish to consider a whole life insurance plan instead. The benefit is that by extending your prenatal insurance, typically medical underwriting is not required, which means that should your child have certain health conditions, these will not affect his insurability with the  insurer.


Whole life insurance is primarily for protection and riders like critical sickness coverage and hospital care benefits can be added on to the policy. So your child should fall critically ill,  terminally ill or pass away in any point of time in his or her life, the insurance policy will pay out a lump sum known as the sum assured. There are many companies who offer it in a way where the sum assured is doubled or even tripled in the first few decades of your child’s life.

When you have drawn the cash value out of a policy, it terminates and all protection benefits are also terminated.  Many parents buy a whole life policy for their child but strike an agreement for their child to continue paying for their own policies once they start working.

3. Endowment PolicY

These are premium policies whose primary purpose is to save for a particular purpose in a long run… normally for a term of 10, 15 or 20 years. If your objective is to save for your child’s university education, and let’s say your child is a boy and he has to undergo national service, it is good to start on such a policy at age 11 if you are taking up a 10-year policy or at age 1 if you are taking up a 20-year policy. Your banker will be more than happy to find the best deal for you.