Insurance & Costs of having and raising a child

[CityFarmer]

City Framer . Congrats! and I am so so glad everything went well.

I know the stress and the panic and the emotions etc.... as I went through something similar last year, alas mine was not a happy ending.

Please take care of your baby and wife....Money is important as a tool to ensure good care for them. Please make sure to get health insurance as soon as possible for them.

Congrats again!

Thanks for the posting.

Yes, nobody can understand the stress involved, unless you have similar experience. I am sorry to hear that yours not a happy ending.

I am yet to pay for the medical cost incurred. But the cost incurred is worth it for the good medical care to both of them.

Health insurance is always a priority. I had bought it for my wife. I will also get one for my kid ASAP.

[KopiKat]

CityFarmer,

Congrats! I'm glad both mother and child are well!
Welcome to the joys of parenthood! I'm sure a lot of priorities in life are going to change... but for the better... and life will definitely take on new meanings...

[CityFarmer]

CityFarmer,

Congrats! I'm glad both mother and child are well!
Welcome to the joys of parenthood! I'm sure a lot of priorities in life are going to change... but for the better... and life will definitely take on new meanings...

Thanks

As new father, i am yet to feel the changes. It will take time to switch to the new role

I am sure priority will changes, from "I, me, mine" to "they, them, their"

[Temperament]

CityFarmer,

Congrats! I'm glad both mother and child are well!
Welcome to the joys of parenthood! I'm sure a lot of priorities in life are going to change... but for the better... and life will definitely take on new meanings...

Thanks

As new father, i am yet to feel the changes. It will take time to switch to the new role

I am sure priority will changes, from "I, me, mine" to "they, them, their"

After 20 years of marriage then God decided to take pity on us when we decided to give up trying due to age.
It is really very strange and a miracle to us until today.
We always felt it wasn't right we kept on "chiat ka kee, boh ho lan chiat".
We did what we could but refused Intrusive method like "IVF"
The rest we left it to GOD.
Children are indeed a blessings from GOD, we believe.
Congratulations!
Amen.

NB:-
Sorry! It should be after 12 years of marriage not 20 years.
It's really a Miracle because my wife had "baby threatened abortion conditions" and had to "CRIB" in hospital from 1st month of pregnancy onwards.
Yes! not even allow to go to the toilet in the ward.
At first we did not believe the Doctor and nearly lost the foetus.
We had to called an emergency ambulance to transfer her from home to stay in hospital for the rest of her pregnancy.
That was roughly a stay of about 7 to 8 months.
All her and mine Medisave were wipe out and included about 15 to 20 K cash.
Even in the hospital stay she had at least about 2 times of heavy bleeding that even one nurse mistaken her foetus had aborted.
Imagined the pandemonium and sadness in the family at that time.
So what do you think?
i think Children are really a definite Blessings from God.
What's the use if you are blessed with wealth & health but no children.
All your wealth still have to be left behind for somebody.
Shalom.

[greypiggi]

Yes. Kids are wonderful. They can really exasperate you and make you all warm and fuzzy at the same time. They are infinitely forgiving and so innocent. I have kids and they are definitely worth the time, resources and effort put in and add to my life dramatically. I give up some freedom for sure but its a good trade off. So congrats cityfarmer! Enjoy!

As for financial planning, I find kids cost quite little when young. Just diapers, milk cost. The must do thing is to buy medical insurance for them. I bought best one and totally do not regret. My older kid has some issues when 4 yrs old and the bill was almost 10k! Lucky my insurer covered in full. Next highest cost is education when preschool and in primary school. Supplement classes and preschool add up to about 1k per mth for my kids. The other expensive one is holidays but it is not a need. Cuz need to book 5 tickets and 2 hotel room or suite always....

As for university, I bought ILP for each of them as forced savings plan in wife name. Enough for local uni over 20 years. At the same time cover wife. Got better at investing and so did not top up for overseas possibility and prefer to invest my own.

[CityFarmer]

After 20 years of marriage then God decided to take pity on us when we decided to give up trying due to age.
It is really very strange and a miracle to us until today.
We always felt it wasn't right we kept on "chiat ka kee, boh ho lan chiat".
We did what we could but refused Intrusive method like "IVF"
The rest we left it to GOD.
Children are indeed a blessings from GOD, we believe.
Congratulations!
Amen.

NB:-
Sorry! It should be after 12 years of marriage not 20 years.
It's really a Miracle because my wife had "baby threatened abortion conditions" and had to "CRIB" in hospital from 1st month of pregnancy onwards.
Yes! not even allow to go to the toilet in the ward.
At first we did not believe the Doctor and nearly lost the foetus.
We had to called an emergency ambulance to transfer her from home to stay in hospital for the rest of her pregnancy.
That was roughly a stay of about 7 to 8 months.
All her and mine Medisave were wipe out and included about 15 to 20 K cash.
Even in the hospital stay she had at least about 2 times of heavy bleeding that even one nurse mistaken her foetus had aborted.
Imagined the pandemonium and sadness in the family at that time.
So what do you think?
i think Children are really a definite Blessings from God.
What's the use if you are blessed with wealth & health but no children.
All your wealth still have to be left behind for somebody.
Shalom.

Both of us are perfectly OK, but it took us years to conceive our 1st baby. This kid is definitely a blessing from God.

[Kelvin]

Buy hospital plan as soon as baby is born. Can only commence after 15 days of birth though

[Muck]

Congrats Cityfarmer! Babies are indeed truly a blessing!
If I'm not wrong, CPF will contact you about medishield coverage for baby soon. But as everyone has said, go get the best pte hospitalisation plan you can afford.

[Bibi]

City Framer . Congrats! and I am so so glad everything went well.

I know the stress and the panic and the emotions etc.... as I went through something similar last year, alas mine was not a happy ending.

Please take care of your baby and wife....Money is important as a tool to ensure good care for them. Please make sure to get health insurance as soon as possible for them.

Congrats again!

Thanks for the posting.

Yes, nobody can understand the stress involved, unless you have similar experience. I am sorry to hear that yours not a happy ending.

I am yet to pay for the medical cost incurred. But the cost incurred is worth it for the good medical care to both of them.

Health insurance is always a priority. I had bought it for my wife. I will also get one for my kid ASAP.

Congrats Cityfarmer! As a father of a 4 yr old boy, i think i wll keep worrying for him until perhaps he got married. My first one didnt make it. Heart-beat somehow stop after 2 months while still inside my wife womb. The second one came out fine. But during that period i was always worrying the same thing will happen. 2 years after he was born. He contracted Kawasaki disease. Aiyoh, only 1 in probably 1000 get this illness. How come i buy 4D never strike in my life. Thank God he recovered after hospitalized for 5 days. Despite getting an As-Charged hospital plan i still have to fork out a few k $ cash due to deductibles and a few reviews with a heart doctor after he discharged. In total, i think the amount is ~8k with about 6k paid by my medisave. Low income family i really dunno how they can cope. So better get one hospital plan which covers the deductible also.

[CityFarmer]

Congrats Cityfarmer! As a father of a 4 yr old boy, i think i wll keep worrying for him until perhaps he got married. My first one didnt make it. Heart-beat somehow stop after 2 months while still inside my wife womb. The second one came out fine. But during that period i was always worrying the same thing will happen. 2 years after he was born. He contracted Kawasaki disease. Aiyoh, only 1 in probably 1000 get this illness. How come i buy 4D never strike in my life. Thank God he recovered after hospitalized for 5 days. Despite getting an As-Charged hospital plan i still have to fork out a few k $ cash due to deductibles and a few reviews with a heart doctor after he discharged. In total, i think the amount is ~8k with about 6k paid by my medisave. Low income family i really dunno how they can cope. So better get one hospital plan which covers the deductible also.

Thanks Bibi

Yes, i assume i will always worry for her till the last days of my life.

Medical plan is up-most important to me. I am always place it as top priority.

The medical cost is very high in Singapore. It cost me >10K for one (1) week stay for both my wife and kid. More for subsequent following-up for both of them. I am not sure my medical plan cover it, since it is pregnancy related.

Yes, less privilege persons are definitely have difficulty to cope with similar medical cost