What Child Insurance Does Your Kid Need In Singapore

Insurance plays a crucial role in protecting us from unexpected financial burdens caused by accidents, illnesses, or hospitalisations. Most working adults in Singapore are likely to have insurance coverage, whether through personal policies or those provided by their employers.

However, when it comes to children, the responsibility falls on parents to ensure they have the appropriate coverage. Securing insurance for your child as early as when they are a newborn can be a smart move, offering peace of mind as they grow. From covering medical bills to safeguarding against accidents, having the right insurance in place can make a significant difference in managing the costs associated with Singapore’s healthcare system and unexpected events.

Why you should insure your child

Children are naturally adventurous and often engage in physical activities, whether it's through play, sports, or other daily routines. This increases their exposure to potential accidents or injuries. Having insurance for your children can help alleviate the financial strain of medical treatments or hospital stays if an unexpected injury or illness occurs.

Ensuring your child has the right coverage allows you to focus on their recovery, knowing that medical expenses are covered. Here are two essential types of insurance plans every parent should consider for their child:

• Health insurance: Covers medical expenses, hospital stays, and outpatient treatments for illnesses and injuries.
• Personal accident insurance: Provides financial support in case of accidental injuries, disability, or death, and may cover selected infectious diseases.

Health insurance

Health insurance helps to cover the cost of medical expenses when your child suffers an injury, illness or a disability. MediShield Life is a basic health insurance plan that offers lifetime protection against large hospital bills and selected costly outpatient treatments for all Singapore citizens (SCs) and permanent residents (PRs), including those with pre-existing conditions. The level of benefits corresponds to the cost of Class B2 or C wards and subsidised treatment in the public hospitals.

Integrated Shield Plans (IPs)

While MediShield Life provides basic hospitalisation protection, you may want the option of upgrading your child’s ward entitlement to an A ward or consider admitting your child into a private hospital where waiting times are generally shorter and private rooms are available. In either case, having an Integrated Shield Plan (IP) like Income's Enhanced IncomeShield is worth considering, as it helps reduce the out-of-pocket costs associated with treatment.  

As a parent or soon-to-be parent, Enhanced IncomeShield offers as-charged coverage for eligible inpatient and outpatient hospital treatment. You can also pay for premiums using your MediSave account (up to the Additional Withdrawal Limits¹, excluding riders). This makes it an effective way to ensure your child is protected from an early age.

Personal accident insurance

Personal Accident (PA) insurance isn’t just for adults working in high-risk professions. The reality is that misfortune can happen to anyone at any time—and children are no exception. Younger children, with their natural curiosity and energy, are often prone to accidents. On the other hand, teenagers can also get injured during extracurricular activities or even from something as simple as slipping on the bathroom floor.

It doesn’t take much more than a minor accident to result in a hefty hospital bill. To get a sense of these costs, you can refer to the Ministry of Health (MOH) benchmark estimator. That’s why having the right personal accident coverage is so important. Below, we’ll explore the types of accident insurance plans that Income offers to help protect your child from unexpected expenses.

PA Assurance

For child insurance, PA Assurance offers extensive coverage like:

• Up to $20,000² medical expenses coverage per accident. Reduce your financial burden in the event of unexpected accidents, including sports injuries³.
• Coverage for chiropractors and TCM treatments in the event of an accident, including sports injury³.
• Reimbursement for post-accident home modification and physiotherapy expenses incurred due to accidents.

This plan covers some of the most common childhood injuries such as food poisoning, drowning hazards and bumps and scrapes at home. And with the Infectious Disease Cover, your child is protected from up to 25 common childhood illnesses such as hand foot and mouth disease (HFMD), chicken pox, shingles, dengue fever and more.

Is personal accident insurance necessary if you have health insurance? 

Health insurance and personal accident insurance serve different purposes, but both are essential for comprehensive protection. Health insurance primarily covers medical treatments for illnesses and hospital stays, while a personal accident (PA) plan can significantly reduce the financial burden if your child experiences an unexpected injury . Having a PA plan ensures that your family is protected from unexpected costs that may arise from accidents.

Here are the key differences between the two plan types:

Ready to learn more about Income’s health and personal accident plans?

Having the right health insurance coverage to protect your children from injury or illness is important, as is having the ability to select the hospital, ward and doctor that best suits their needs.For more comprehensive protection, however, a combination of policies that complement each other—such as health insurance and personal accident insurance—is essential.

These policies work together to provide greater peace of mind, ensuring you can give your children the best possible medical care while minimising the financial impact of healthcare costs.

Learn more about how Income’s Enhanced IncomeShield and PA Assurance plans can help you better protect your children for peace of mind.