Hi all, would you mind to share how much you all spent on insurance for your kids and yourself and what is the coverage . thanks

Hi there. I don't really think any sharing on this will really help u because every family financial situation is different - how much income, what liabilities, how many pple are depending on the income, how much saving and investment and what is ur risk appetite. Most basic - everyone should have a hospital plan (go for the highest grade u can afford because in the future it's much easier to downgrade than upgrade) - ntuc is cheapest but every company have diff features and caps If ur husband got serve NS, get the SAF term insurance and add all of u in it and add on critical illness cover if possible. It is the CHEAPEST insurance around. Do note that term insurance has no cash value when u cancel or when it is used up If can afford and if u prefer to then get life insurance for everyone. Many companies - u can't compare finish and there isn't the best - just the most suited. Compare 2-3 and choose will do U shld have emergency funds to last all expanditure for 3-6 months minimum should any unforeseen happen to the person bringing in the income. If u have this then life insurance and savings or investments can be discussed. I was in this line previously. Talk to a financial consultant and go deep. No use asking here. Other pple decisions and opinions are not related at all

I spend about $300 monthly in cash for everything we have - including my son's insurance, my insurance and an endowment plan for my son. There is also about $200+ that's coming from each of our medisave accounts for our hospitalization plans (the cash value is for riders). I'm a single mother so there's no spouse to cover :) My son has: - hospitalization plan - personal accident plan - endowment plan (already $105.49 here) While I have: - hospitalization plan - personal accident plan - term life insurance - critical illness plan We have all the highest plans available except for my hospitalization plan (only went for class A wards in government hospitals instead of private ones) and added riders like hospital income, total and permanent disability etc! Reason being, it's much easier to downgrade in future than to upgrade if anything happens. If you're looking to get insurance coverage, the most important would be hospitalization and personal accident. You'd also want to consider things like your income, financial ability (present and expected future), lifestyle habits, working status etc because it's something you would not want to end up as a liability to you!

Insurance bought for the kids and adults as below - Prudential Hosp Plan with Rider (Kids) - AIA Star Shield (Kids) - Aviva (Life Plan) (Whole family) My husband handles the aviva plans and starshield for one kid Aviva and his own hosp insurance with ride (monthly total - 400 on insurance ) Whereas for me, i cover the two kids hosp plan, one star shield - $150 monthly

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