I know of a recent case. A baby was born premature. The cost of treating the baby in a private hospital is estimated to be $60,000 to $90,000. It is a lot of money.
There is insurance to cover this incident, but the cost is likely to be $500 to $800. Many people feel that they do not need this insurance, until something happens. Then, it becomes a big burden.
I recall that the risk of a premature baby is probably 1%. In some cases, the cost is modest. But, for severe cases, the cost could be as high as indicated above.
Lesson: Buy insurance to cover this risk. Treat it as part of the total cost of having a baby. Add it to the gynaecologist fee and delivery charges.
Most Shield Plan premiums for baby is very low.
ReplyDeleteProblem is many parents alway think what will happen to a young child until it is too late.
Take a look at Shield Plan premiums, it is low and worth the expense.
One of my client's 3 year old boy had bone marrow transplant and stayed in KKH B2 ward for more than a month and with treatment cost more than $20,000.
Premium paid for Plan Basic Enhanced Incomeshield is $61 only.
- Thomas Phua
The shield plan do not cover complications caused by premature birth of the baby.
ReplyDeleteFor such cases of $60-$90k hospital bills caused by it are rare but catastrophic.
This is one cover that insurance companies can consider introducing for the public in future.
may i know which plan covers premature births? thanks!
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