As highlighted in the insurance plan above, wealth accumulation is an important part of financial planning when you’re welcoming a new baby. There are two main reasons for this – saving up for a big-ticket expense, such as tertiary education or even a home, for your child and saving up for your retirement so that this responsibility does not fall on your child.
You can consider buying policies such as AIA Wealth Pro Advantage for your baby. This policy helps you to save and invest premiums which can be partially withdrawn when your child needs to pay for university, with the rest of the premiums continuing to earn interest for your child’s retirement.
AIA Mum2Baby – Giving Both Mother and Baby The Protection They Need
The AIA Mum2Baby Choices policy is specially designed to protect both mother and baby. The policy consists of both a pre-natal plan, AIA Baby Protector rider, which provides essential protection to both expectant mother and baby from as early as 13 weeks into the pregnancy as well as higher risk pregnancies via IVF, ICI, IUI and ICSI, and the AIA Pro Lifetime Protector, which can be transferred to your baby within 60 days from birth without any medical questions, guaranteeing your child lifelong protection.
You can also add on an optional Child Critical Cover rider, a policy that covers 25 child medical conditions including autism, ADHD and Dyslexia. Once your child turns 21, he or she has the option to convert this rider into another whole life or endowment plan without any health questions asked. This puts in place a long-term financial plan for your child’s, and even grandchildren’s, future.
AIA Double Critical Cover, a third rider covering 104 critical illnesses and five special conditions you can add to this revolutionary product. It fully restores your critical illness coverage amount to 100% after 12 months of your first claim, giving you additional peace of mind.
Making the effort to understand and choose the right insurance products to protect both mother and baby is well worth your time.
AIA offers solutions made simple to keep up with your evolving wealth accumulation and protection needs. Take the first step to getting your financial planning on track and speak to us at 1800 248 8000.