X
theAsianparent Logo
theAsianparent Logo
  • Pregnancy
    • Due date calculator
    • I'm pregnant
    • Trying To Conceive
    • Labour
    • After birth
    • Baby loss
  • Parenting
    • Parenting & Play by Friso
    • Parent's Guide
    • Relationship & Sex
  • Ages & Stages
    • Baby
    • Toddler
    • Pre-schooler
    • Kids
    • Pre-teen & Teen
  • Feeding & Nutrition
    • Diseases-Injuries
    • Breastfeeding & Formula
    • Meal Planner
    • Health
    • Allergies & Conditions
    • Vaccinations
  • Education
    • Pre-School
    • Primary School
    • Secondary School
  • Lifestyle
    • Money
    • Travel & Leisure
    • Fashion
    • Home
    • Fitness
    • Contests & promotions
  • News
    • International
    • Health
    • Celebrity
    • Singapore
  • Money Parenting
    • Tips for Parents
    • Tips for Toddlers
    • Tips for Older Kids
    • The 5 Personas
  • TAP Recommends
  • Shopping
  • Press Releases
  • Project Sidekicks
  • Community
  • Advertise With Us
  • Contact Us
  • Become A Contributor
  • VIP

Parents Of Special Needs Children Can Now ‘Futureproof’ Their Long-Term Financial Needs Through SNTC Collaboration With Great Eastern

4 min read
Parents Of Special Needs Children Can Now ‘Futureproof’ Their Long-Term Financial Needs Through SNTC Collaboration With Great EasternParents Of Special Needs Children Can Now ‘Futureproof’ Their Long-Term Financial Needs Through SNTC Collaboration With Great Eastern

This plan makes affordable insurance coverage accessible to parents of SNTC beneficiaries.

Parents of special needs children can now multiply their financial provisions for them well into the future, through a partnership between the Special Needs Trust Company (SNTC) and leading regional insurer Great Eastern.

Amounts which parents put into a trust arrangement with SNTC for their special needs child can be augmented through Great Eastern Cares Term Plan, developed as a response to the needs of this community, as part of the insurer’s mission of helping to improve lives through financial inclusion.

This plan makes affordable insurance coverage accessible to parents of SNTC beneficiaries so they can provide better for the cost of long-term care for their special needs children in future. 

Special Needs Trust Company

Image source: iStock

Parents who open a trust account with SNTC for their child, can choose to purchase the Great Eastern Cares Term Plan. 

Through the trust, they can ensure their children receive the gifts willed to them according to their wishes, such as insurance policies, CPF savings nominated and others.

Proceeds from these can then help finance their needs in their lifetime after the parent’s demise.

Great Eastern Group Chief Executive Officer Khor Hock Seng said: “As a leading insurer in Singapore and the region for the last 113 years, we are pleased to continually positively impact communities around us. Insurance is important to help people manage the unforeseen risks in their lives with advance planning. We embarked on this meaningful collaboration with SNTC to support families with special needs children by making affordable insurance accessible to them so they can make adequate provisions to fund their long-term expenses well into the future.”

Parents Of Special Needs Children Can Now Futureproof Their Long-Term Financial Needs Through SNTC Collaboration With Great Eastern

Image source: iStock

SNTC is the only non-profit trust company in Singapore dedicated to enhancing the financial security and well-being of persons with special needs through the provision of affordable trust services. 

It currently serves over 900 beneficiaries with a wide spectrum of special needs, ranging from physical to intellectual disabilities, and provides trust services to support them for the long term.

SNTC’s social workers work with parents to develop individualised care plans* for their children to derive a projection on the amount the parents will need to set aside to provide for their child’s long-term care.

SNTC’s GOAL Sponsorship Scheme

SNTC has found that many parents have difficulties raising the initial $5,000 deposit to set up an SNTC trust and they are also hard-pressed to save for their special needs children.

To address these financial challenges, SNTC has launched the Gift Of A Lifetime (GOAL) Sponsorship Scheme to support eligible families by helping them put a plan in place to provide for their special needs children.

Special Needs Trust Company

Image source: iStock

Moses Lee, Chairman, SNTC said: “Planning to provide for special needs children is very important. As special needs children are often unable to manage their finances into adulthood and they may well outlive their caregivers, money intended for their care is best managed by reliable professionals to administer and safeguard the funds for them. That is why SNTC was first set up, to serve this community of persons with special needs.”

“Many families may not even be able to leave behind enough funds to help pay for their children’s living and medical expenses when they are no longer around to care for them. We believe insurance is an important aspect of forward planning for these families and affordability is key to help them get started. We sought this partnership with Great Eastern as we believe together, we can support families with special needs children in a more holistic way. Donations received under our GOAL Sponsorship will provide eligible means-tested families with the initial deposit to set up an SNTC trust and also co-pay the premium of a term plan on the parent’s life,” said Mr Lee.

SNTC – a registered charity with IPC status – hopes to raise S$1 million for its GOAL Sponsorship Scheme and has launched the ‘SNTC GOAL Campaign’ on Giving.sg to raise funds for this cause.

Donations made through this online campaign will be doubled through the Tote Board’s dollar-for-dollar Enhanced Fundraising Programme Grant. For more information on GOAL, please contact SNTC at 6278 9598 or email to [email protected].

Partner Stories
My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)
My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)
Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run
Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run
Make Your Mark With My Little Pony Pop-up Event
Make Your Mark With My Little Pony Pop-up Event
Apple Invites Families to Create and Learn at Apple Camp Sessions Around the World
Apple Invites Families to Create and Learn at Apple Camp Sessions Around the World

Got a parenting concern? Read articles or ask away and get instant answers on our app. Download theAsianparent Community on iOS or Android now!

img
Written by

theAsianparent

  • Home
  • /
  • Press Releases
  • /
  • Parents Of Special Needs Children Can Now ‘Futureproof’ Their Long-Term Financial Needs Through SNTC Collaboration With Great Eastern
Share:
  • My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)
    Partner Stories

    My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)

  • Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run
    Partner Stories

    Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run

  • Make Your Mark With My Little Pony Pop-up Event
    Partner Stories

    Make Your Mark With My Little Pony Pop-up Event

app info
get app banner
  • My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)
    Partner Stories

    My First Skool Supports Diverse Developmental Needs through the Inclusive Support Programme (InSP)

  • Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run
    Partner Stories

    Run, Bond and Have Fun as a Family at the Inaugural TriFactor Kids Run

  • Make Your Mark With My Little Pony Pop-up Event
    Partner Stories

    Make Your Mark With My Little Pony Pop-up Event

Get advice on your pregnancy and growing baby. Sign up for our newsletter
  • Pregnancy
    • Baby
    • Education
    • Events
    • Allergies & Conditions
  • Family Occasions
    • Breastfeeding & Formula
    • Child Safety
    • Health
    • Diseases-Injuries
  • Lifestyle
    • Home
    • Money
    • Feeding & Nutrition
    • Diet & Weightloss
  • Normal Delivery
    • Cesarean Delivery
    • Behaviour
    • Secondary School
    • Formula Feeding
  • Ages & Stages
    • Latching & Concerns
    • Festivals & Holidays
    • Education
    • Pre-teen & Teen
  • More
    • TAP Community
    • Advertise With Us
    • Contact Us
    • Become a Contributor


  • Singapore flag Singapore
  • Thailand flag Thailand
  • Indonesia flag Indonesia
  • Philippines flag Philippines
  • Malaysia flag Malaysia
  • Sri-Lanka flag Sri Lanka
  • India flag India
  • Vietnam flag Vietnam
  • Australia flag Australia
  • Japan flag Japan
  • Nigeria flag Nigeria
  • Kenya flag Kenya
© Copyright theAsianparent 2022. All rights reserved
About Us|Team|Privacy Policy|Terms of Use |Sitemap HTML
  • Tools
  • Articles
  • Feed
  • Poll

We use cookies to ensure you get the best experience. Learn MoreOk, Got it

We use cookies to ensure you get the best experience. Learn MoreOk, Got it

theAsianparent heart icon
We’d like to send you notifications for the latest news and lifestyle updates.