Buying Health Insurance For Your Child? Read This First

Hayley Pereira’s son, Conor, underwent surgery to remove his oversized tonsils and adenoids. The tissues were affecting the way fluid drained from his ears and as a result, he suffered from sleep apnoea and had difficulty hearing.

The cost of the surgery in October 2019 amounted to $18,000. Thanks to the insurance policy they had taken out for their now two-year-old boy, as well as their Medishield rider, Hayley and her husband did not have to pay a cent.

“Good thing we had the insurance and rider or we would’ve had to fork out that five-figure sum,” says Hayley, who also has a four-year-old daughter.

“We have an investment-linked plan and spend about $250 a month on insurance premiums for our kids. The policy covers critical illnesses, hospitalisation and death, but not congenital illnesses,” she says.

“Children are more likely to fall sick and get into accidents, so it made sense to purchase insurance to cover them in case something happened and their medical bills turned out to be exorbitant.

“My husband and I purchased the Medishield rider before the Government changed the rules, so that we wouldn’t have to worry about paying a down-payment when choosing a private hospital.”

But should you do the same? Read on to find out what experts say.