Life Insurance Pregnancy: Must-Know Tips for Moms-to-Be in Singapore

Can I get life insurance for my pregnancy?

In Singapore, the government greatly supports the health care of citizens and permanent residents. While you’ll have to pay for your visits to the gynaecologists and prenatal care, you’ll be able to use your Medisave to pay for most of the costs of ultrasounds and the delivery.

Of course, this means you are still paying money out-of-pocket, so you are probably wondering if there’s any pregnancy life insurance available.

The straightforward answer is that, yes, there is pregnancy life insurance available in Singapore for pregnancy expenses and postpartum, but it is usually for cases of complications rather than regular prenatal care.

Life Insurance During Pregnancy

Maternity insurance is a type of term insurance that protects pregnant women and their newborn children. Typically, coverage extends from 13 weeks of pregnancy to the child's third year of life. It protects against pregnancy complications, congenital illnesses, and death as a result of these conditions.

Maternity insurance policies also include a hospital care benefit that covers additional illnesses like bronchitis, premature birth, uterine rupture, and others.

Maternity insurance is typically packaged with a life insurance product, as opposed to most critical illness and health insurance products. This means that consumers interested in maternity insurance must be prepared to purchase a life insurance product as well.

What should your maternity coverage include?

Here's what you should look for when shopping for maternity insurance, though coverage varies depending on the insurer.

Coverage provided for the mother:

• Pregnancy complications: Pregnancy complications such as preeclampsia and eclampsia.
• Death or total and permanent disability benefit (TPD): A lump sum payment is made in the event of death or TPD.
• Hospitalisation benefit: A daily cash benefit is provided for each day you are hospitalised as a result of pregnancy complications.

Some insurance plans also provide additional benefits to pregnant women, such as mental wellness benefits. It could also include elements such as medical malpractice during childbirth.

Coverage provided for the baby:

• Congenital diseases (the number of congenital illnesses covered differs depending on the insurance plan)
• Death benefit: A lump sum payment made upon death.
• Hospitalisation benefit: A daily cash benefit is provided for each day that the baby is hospitalised due to congenital illnesses.
• Outpatient phototherapy benefit for severe neonatal jaundice: A monetary benefit for each day the phototherapy machine is rented.

Notable exclusions: Some policies do not cover pregnancies caused by In-Vitro Fertilisation (IVF) or other Assisted Conception Procedures. If you used IVF to conceive, look for plans that do not exclude IVF, such as the Singlife MyMaternityPlan and Manulife ReadyMummy.

While most maternity insurance policies cover twins, some policies exclude mothers who are expecting more than two foetuses, such as triplets or quadruplets. These pregnancies may pose a higher risk to insurers and are thus excluded. Again, there are still plans available in the market that cover these special bundles of joy.

Life Insurance Pregnancy Singapore: Plans Available Before Pregnancy

You can purchase insurance that covers cases of miscarriage, emergency Caesarean sections, premature births, as well as birth defects.

These complications often require greater medical care. They can also warrant a longer hospital stay, which can send bills soaring. In such cases, these policies can really help you cover the gap left by Medisave.

These types of policies are available from most insurance companies. However, you need long-term planning to really utilise them.

Typically, for an insurance company like NTUC Income and Great Eastern, they require you to buy the plan at least 10 months before getting pregnant. This is so they can collect your premiums for a set amount of time.

If you are looking for insurance that covers the entire pregnancy from day one including all Doctor visits - you might want to consider some of the international insurance companies like Bupa Global.

Best Life Insurance For Pregnancy In Singapore

I. Standalone Maternity Insurance Plans

Both Great Eastern and NTUC Income offer standalone maternity insurance plans, which means they are not bundled with other insurance policies. However, you can still apply for an eligible policy through a simplified application after your child is born with both insurers.

Great Eastern Flexi Maternity

A maternity insurance plan that covers 8 pregnancy complications and 18 congenital diseases on its own.

Premiums & Benefits

Great Eastern's Flexi Maternity is a stand-alone maternity plan that covers death and total and permanent disability (TPD) from eight different pregnancy complications and 18 congenital diseases. This plan is available from the 13th week of pregnancy until the 40th week of pregnancy, the longest eligibility period on the market. This plan covers you for 30 days after giving birth and your infant for the duration of the third policy year.

If you or your infant is hospitalised due to any of the covered conditions or six additional conditions such as premature birth, bronchitis, or pneumonia, Flexi Maternity also provides a daily hospital care benefit.

It is important to note, however, that IVF pregnancy is not covered; and, while women expecting twins are eligible for this policy, women expecting triplets or more are not. Nonetheless, this stand-alone plan does not necessitate the purchase of any additional policies, which is a unique feature.

You can also inquire about their GREAT Maternity Plan.

NTUC Income Maternity 360

A maternity insurance plan that covers 10 pregnancy complications and 23 congenital conditions on its own.

Income's maternity plan is a stand-alone maternity plan that also allows you to add a life insurance policy for your child. You will be covered for death, ten pregnancy complications, and twenty-three congenital illnesses.

A daily hospital care benefit of 1% of your sum assured is also available to assist you in paying for illnesses such as postnatal anaemia, puerperal pyrexia, and uterine infection (due to retained placenta), among others. Finally, if your child develops severe neonatal jaundice, Income's Maternity 360 plan will cover outpatient phototherapy.

Unlike traditional maternity policies, which only cover the mother for 30 days after the child is born, Income covers the mother for the full three policy years. Income's maternity plan does not include a life insurance policy, but you have the option of purchasing one for your baby 60 days after she or he is born.

II. Insurance-Linked Maternity Insurance Plans

Aviva, AIA, and AXA, for example, combine maternity insurance with a participating whole-life or investment-linked insurance policy. In some cases, such as with Aviva, you can only purchase maternity insurance if you are already covered by another qualifying plan.

Singlife with Aviva: MyMaternityPlan

A supplemental maternity insurance plan that is available as an add-on to Aviva's health, critical illness, or life policies.

Summary of Coverage

Aviva's MyMaternityPlan is a pre-natal insurance supplement that covers death, pregnancy complications, and congenital illnesses. This means that in order to purchase MyMaternityPlan, you or your spouse must first purchase one of Aviva's other health, critical illness, or life insurance plans.

A one-time payout for stem cell transplant surgery and childhood developmental delays are among the plan's features. Furthermore, regardless of the type of pregnancy (IVF, Intracytoplasmic Sperm Injection (ICSI), Intrauterine Insemination (IUI), and Intracervical Insemination), Aviva's MyMaternityPlan covers up to four babies in a single pregnancy (ICI).

AIA Mum2Baby & Mum2Baby Protect

AIA's maternity insurance plans are combined into two bundles, one with a whole life policy and the other with an ILP.

Summary of Coverage

AIA provides two maternity plan bundles, AIA Mum2Baby Protect and AIA Mum2Baby, that include maternity coverage for you and your newborn as well as a life insurance plan for your child. AIA Mum2Baby Protect is a participating whole life insurance plan, whereas AIA Mum2Baby is an investment-linked life insurance plan.

You will be covered for 14 pregnancy complications and death, as well as a hospital care benefit, under the maternity portion. Your child will be protected against 25 congenital illnesses and will also receive hospital care. You will be covered if your child is conceived through IVF, IUI, ICI, or ICS.

AXA HappyMummy

To provide comprehensive care for expecting mothers and their families, AXA's HappyMummy combines a prenatal insurance plan with either a life insurance plan or an investment-linked insurance plan.

Summary of Coverage

HappyMummy by AXA is a two-plan bundle that includes a prenatal insurance plan (AXA EmpoweredMum) and either a whole life plan (AXA LifeTreasure II) or an investment-linked insurance plan (AXA Flexi Protector).

AXA's EmpoweredMum is a three-year plan that is notable for being the first in Singapore to cover Caesarean section delivery. It also allows mothers to transfer the benefits of their AXA Flexi Protector or Life Treasure (II) plans to their newborn for free for the first 60 days after birth.

AXA HappyMummy also includes a death benefit and a hospital benefit for the mother and child, as well as coverage for 15 pregnancy complications for the mother and 26 congenital illnesses for the child, as well as a list of 10 and 17 hospital care benefit events for the mother and child, respectively. However, keep in mind that this plan does not cover suicide or pre-existing medical conditions.

Travel Life Insurance For Pregnancy in Singapore

When you were a young single, you could have gotten away with purchasing whichever travel insurance plan was the cheapest at the time.

However, now that you're pregnant, you should be aware that most travel insurance policies exclude coverage for illnesses and emergencies related to pregnancy and childbirth. Pregnancy-related conditions are not covered by popular insurers such as NTUC Income, FWD, AXA, and Etiqa travel insurance.

While you may still be covered for routine things like lost luggage or travel delays, you may not be able to make a claim if, for example, you need to see a doctor in another country for morning sickness. And if there are any pregnancy complications while travelling, it can be financially disastrous.

Look for the exclusions section of the policy wording to see if it covers pregnancies. Typically, something like "pregnancy & all related conditions" will be listed.

Checking the Coverage of Travel Life Insurance For Pregnancy in Singapore

Some insurers, however, do cover pregnancy-related conditions and expenses to some extent. Because this varies by insurer, we'll provide a summary of four pregnancy-friendly travel insurance plans below. Examine the coverage and select the one that best meets your needs.

1. Best medical expenses coverage: Travel Insurance from Allianz
2. Provider of premium travel insurance: Travel Insurance from AIG
3. Suitable for NSMEN and civil servants: Travel Insurance from Aviva
4. Cheap travel insurance provider: Travel Insurance from MSIG

Certain situations resulting from unforeseen pregnancy complications, or a pregnancy that occurs after you've purchased your plan, may be covered by travel insurance. Trip cancellations or other travel losses caused by normal pregnancy are typically not covered by travel insurance.

Travel insurance, like any other type of insurance, has specific coverage definitions and restrictions. Read your contract carefully, and call if you have any questions about coverage. If pregnant women have concerns or questions about safe travel, they should consult their doctors.

If you're pregnant or think you might be soon, it's a good idea to insure upcoming trips. Purchase travel insurance as soon as possible to maximise your coverage window.

After pregnancy life insurance Singapore: What you need to know

There is another type of insurance, however, that caters to women who are already pregnant. These plans, which is offered by companies like Prudential, AIA and AXA, protect mum and baby from 13 weeks into pregnancy.

They mostly cover pregnancy complications and extend to cover Baby complications after the baby is born.

Here is a comparison of some of the Pregnancy Insurance plans available in the market.

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Pregnancy Life Insurance For Foreigners in Singapore

Can I get insurance if I’m an expatriate?

Unfortunately, most of the insurance policies offered here are unlikely to cover the costs of your pregnancy and delivery.

You are best off if you have an overseas insurance policy designed for expatriates that cover international healthcare costs.

In Singapore, there is a company called Medibroker that specialises in searching for suitable insurance policies for expats. Try to plan in advance though, as there may be a long waiting period involved.

Get a Life Pregnancy Insurance Now!

In conclusion, life insurance during pregnancy is an indispensable aspect of comprehensive financial planning for moms-to-be in Singapore. As you embark on this exciting journey of motherhood, it's essential to consider the well-being of your growing family and secure their future.

Furthermore, getting life insurance during pregnancy may offer certain advantages, such as potentially lower premiums and relaxed medical underwriting. However, it's crucial to start the process early to avoid any complications that could arise later in the pregnancy.

As an expectant mother, it's natural to prioritize your child's well-being above all else. Securing life insurance can provide peace of mind, knowing that your family will be taken care of financially, even if the unexpected occurs.

Life Insurance Pregnancy: An Investment for All

Remember, life insurance is not just an expense, but an investment in the future of your family. It's an act of love, ensuring that your legacy lives on and your loved ones are protected and supported, no matter what.

As you embrace the joys of motherhood, let life insurance be your unwavering shield, offering you peace of mind and a sense of empowerment during this transformative phase of life.

Act now and secure your family's future with the right life insurance plan. Don't wait - give your family the protection they deserve!

Disclaimer: Purchasing a life insurance policy is a long-term commitment and requires consultation with a financial adviser. We do not claim to endorse or promote any particular product and all information shown here is for general education purposes only. Please speak to a financial adviser if you are interested in purchasing any of these products.

Updates by Matt Doctor

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