I’m a new mummy. I will like to buy an insurance program for my baby. What should I be looking out for?
Many parents make the mistake of NOT insuring themselves well before their children. Remember the story of the golden goose and golden egg. Which is more important? You, as the parent is the golden goose. You are the income provider. So insure yourself instead.
For your insurance program, I suppose you meant by Education Saving plan. Ensure that both parents names are added to the policy, as many of us are dual income family. Both mummy and daddy have to work to provide.
Rather than just focusing on the type of insurance that you want to purchase, my suggestion is that you speak to a professional instead. Ensure that these people you are speaking to are currently or already obtained a professionally recognized certificate such as CFPTM, ChFCCM etc. They will provide you a proper long term advice to suit your needs.
Generally, all insurance policies have almost the same features and benefits, however, a good planner will advise you on the mix of investment returns and the amount of protection you will need to consider.