4 reasons why you should buy newborn insurance for your baby

Posted by RR 5 mths ago
If you’re getting ready to welcome your little one into the world, you already have a lot on your plate. From making sure your home is babyproof to purchasing the essentials, there’s plenty for soon-to-be parents to do and think about. So much so that it can be easy to overlook things or fail to consider them entirely.
Time and time again, our friends at Pacific Prime Hong Kong see the look on parents’ faces when they realize they should have secured newborn insurance. Parents tend to either fail to consider that their baby might have serious health complications or decide health insurance is something for later on in life. Here are four reasons why newborn insurance is a must.
1. Your baby could have a health condition
Every parent wishes for their baby to be born in perfect health. However, serious health conditions are possible and could be excluded from your existing insurance policy. For example, Thalassemia is an inherited blood disorder that your baby likely won’t be covered for without Medical History Disregarded (MHD) underwriting.
2. Pre-existing conditions aren’t as likely
In insurance terms, a pre-existing condition describes any medical condition that started before a policy went into effect. Since the chances of health conditions at birth are less likely, securing health insurance as early as possible is a smart move. The chances of unexpected or lifestyle-related health conditions will only go up with age.
3. Premiums tend to be lower
Premiums are often lower for younger people, so you can expect to pay a lower premium for your baby (especially without any pre-existing conditions). With a limited pay whole life insurance policy, the policyholder must pay a premium for a specified number of years or until they are a certain age - after which they will no longer have to make premium payments.
4. You can have peace of mind
One of the best things about securing newborn insurance for your baby is the peace of mind that it brings. This priceless benefit saves parents a lot of stress and worry. You won’t have to think twice about whether your child will be able to access the quality healthcare they deserve, whenever they need it.
Secure newborn insurance for your baby today
Without adequate insurance coverage, you could end up with costly medical bills that could put both a financial and emotional strain on your family. Securing newborn insurance as early as possible ensures you and your baby are protected. If you have your own health insurance plan or one that’s provided by your employer and are wondering what your options are, your best bet is to talk to a reputable broker like Pacific Prime Hong Kong.
Looking for newborn insurance in Hong Kong or have any health insurance questions? Contact us at Pacific Prime for impartial insurance advice and a free plan comparison today.

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