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:
- Hospitalization insurance
- Whole life insurance
- 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.
