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Snippet of the day

How much travel coverage/insurance is considered sufficient for a holiday with a newborn? Would a basic family plan from most insurance companies suffice?

Travel insurance is not just another unnecessary cost, but a cost no one should ever travel without, especially when travelling with young children.

When it comes to evaluating a sufficient travel insurance coverage, one important factor to consider is the holiday destination. Countries in Europe and North America have notoriously high medical costs, especially since foreigners are not privy to any medical cost subsidies. And if an emergency evacuation back to Singapore is required, the costs would be astronomical. So it makes financial sense to go with a plan that offers a higher coverage for the entire family if you are travelling to faraway countries.

For nearby countries (less than 4-hour flights), a basic family plan should suffice. It is always wise to compare travel insurance policies among different companies to make sure you are getting the best cover for the entire family. Different companies offer varying levels of cover and may have varying rules and restrictions when it comes to covering dependents.

Kelvin Ang is a Maybe Baby blogger and a financial planner with a global insurance company.

 

 
Think your family is a FUNtastic bunch? Send in your FUNtastic Family Photo* and stand a chance to win prizes worth up to $600!

 

FUNtastic Family Photo Contest    

 

Contest of the month

Snippet of the day

How much travel coverage/insurance is considered sufficient for a holiday with a newborn? Would a basic family plan from most insurance companies suffice?

Travel insurance is not just another unnecessary cost, but a cost no one should ever travel without, especially when travelling with young children.

When it comes to evaluating a sufficient travel insurance coverage, one important factor to consider is the holiday destination. Countries in Europe and North America have notoriously high medical costs, especially since foreigners are not privy to any medical cost subsidies. And if an emergency evacuation back to Singapore is required, the costs would be astronomical. So it makes financial sense to go with a plan that offers a higher coverage for the entire family if you are travelling to faraway countries.

For nearby countries (less than 4-hour flights), a basic family plan should suffice. It is always wise to compare travel insurance policies among different companies to make sure you are getting the best cover for the entire family. Different companies offer varying levels of cover and may have varying rules and restrictions when it comes to covering dependents.

Kelvin Ang is a Maybe Baby blogger and a financial planner with a global insurance company.

 

 

Contest of the month

Think your family is a FUNtastic bunch? Send in your FUNtastic Family Photo* and stand a chance to win prizes worth up to $600!

 

FUNtastic Family Photo Contest    

 

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