Archive for the ‘Hospitalization Insurance’ category

What kind of insurance should you get for your baby?

July 23rd, 2010

At the age of 31, many of my friends are entering parenthood. And that includes me! I’ve been meeting up with my friends discussing what kind of financial planning they should do for their baby. From my point of view, insurance planning for babies should be done in the following priority:

  1. Hospitalization insurance
  2. Whole life insurance
  3. Education insurance

Hospitalization insurance

This is the low cost yet the most important insurance you should get for your baby. Last year, I did a near $12,000 hospitalization claim for a baby. [More...]

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Posted in Baby Insurance, Education Insurance, Hospitalization Insurance, Life Insurance

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What is Deductible and Co-Insurance

July 19th, 2010

Deductible and Co-insurance are terms normally found in hospitalization insurance programs. These are important concepts to understand in order to prevent misunderstandings during claims.

Deductible

If you look at your insurance quotation, you are likely to realise that there are different deductible amount for different hospital wards. For example, Ward A will generally attract a $3,000 deductible.

It means you have to bear the cost of the first $3,000. A lower ward will usually attract a lower deductible.

Co-insurance [More...]

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Posted in Financial Knowledge, Hospitalization Insurance

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