Starting a family is an exciting phase in any parent’s minds, although it is not something to be taken lightly.
There are factors that you would have to consider before starting a family such as the cost of raising a child, physical and emotional strength, and unpredictable events, which could derail your idea of a perfect family. These unpredictable events include accidents, loss of income, critical illnesses, permanent disabilities and pregnancy complications, among others.
Here we look at the key stages of your child’s development and which protection plan suits you and your family.
Pregnancy Stage
You can opt for Prenatal Insurance, which provides coverage for both mother and child during pregnancy. This particular insurance plan specifically covers a wide range of pregnancy complications, pregnancy loss or miscarriage and congenital illnesses.
Birth Stage
Choose a Child Insurance plan that offers comprehensive protection for your child’s healthcare needs. Some child insurance plans also provide coverage in the event of death or permanent disability.
Educational Stage
An Education Insurance is designed to function as a savings plan that offers a lump-sum payout at the end of the policy period / upon maturity to cover education expenses, notably tuition fees.
Other Factors to Consider
Apart from your child’s key stages of development, there are other factors to consider such as accidents resulting in death or permanent disability, which could then lead to sudden loss of income. This is especially true if you are the sole breadwinner of the family.
You would need an insurance that helps you to leave a legacy of financial security and protection for your family’s future. These are most commonly known as Life Insurance.
Here’s a Plan for You and Your Child
Introducing PRUMy Child Plus, a protection plan by Prudential that provides coverage for prenatal, critical illnesses, medical, accidental complications, and payor riders – making it a comprehensive insurance solution to meet your baby’s protection needs… from as early as 14 weeks into your pregnancy!
Some of the key highlights of PRUMy Child Plus include:-
- For expectant mothers, coverage is provided from as early as 14 weeks into your pregnancy.
- Coverage for newborns including neonatal jaundice and other congenital conditions.
- Lifelong protection whereby coverage for children-related critical illnesses will be automatically converted to adult-related critical illnesses upon your child reaching the age of 25.
- Education Savings plan for your child in order to grow your child’s education fund.
Pregnancy and Newborn Coverage
Provides coverage from pregnancy stage as early as 14 gestational weeks and coverage for newborn including neonatal jaundice and other congenital conditions.
Lifelong Protection^
Ease your mind knowing that your child’s coverage remains relevant to their protection needs by automatically converting the specific Child Critical Illness coverage to 43 Critical Illnesses at age 25. This protection continues up to age 100^. ^ To ensure that the policy has sufficient account value, additional premium is likely required for continuous coverage up to age 100.
Easy And Simple Enrolment (EASE)*
When you have been covered under PRUWith You, you can easily cover your next pregnancy under the EASE* process without going through full underwriting. * Terms and conditions apply.
Goal Achievement Benefit*
Reward for achieving significant milestones or goals in your child’s life. * Terms and conditions apply.
PRUMy Child Plus
Winner of the Best Child Insurance Plan Category
Important Notice and Disclaimer
PRUMy Child Plus is underwritten by Prudential Assurance Malaysia Berhad (“PAMB”). You should assess the affordability and suitability of the product (including optional riders) in relation to your financial goals and risk appetite. To achieve that, we recommend that you speak to your Prudential Representative who will perform a needs analysis and assist you in making an informed decision. This presentation is for illustrative purpose only. Please refer to the PRUMy Child Plus brochure (if any), Product Disclosure Sheet and Product Illustration before purchasing a plan, and to the terms and conditions in the policy document for details of the important features of the plan.
Conclusion
We know you’ve heard it before but it’s always better to be prepared for any eventuality. As parents, your financial responsibilities vary according to your commitments and preferences.
Give your loved ones long-term financial stability and security to ensure that they too can live the life you’ve always wanted them to have.
Prudential Assurance Malaysia Berhad
(Member of PIDM)
Prudential Assurance Malaysia Berhad (“PAMB”) is a member of Perbadanan Insurans Deposit Malaysia (PIDM). As a member of PIDM, some of the benefits insured under the insurance policies offered by PAMB are protected against loss of part or all of the insurance benefits by PIDM, in the unlikely event of an insurer member failure. For further details of the protection limits and the scope of coverage, please obtain a PIDM information brochure from PAMB or visit PIDM website (www.pidm.gov.my) or call PIDM toll free line (1-800-88-1266).
PLEASE NOTE THAT THIS IS AN INSURANCE PRODUCT THAT IS TIED TO THE PERFORMANCE OF UNDERLYING ASSETS AND IS NOT A PURE INVESTMENT PRODUCT SUCH AS UNIT TRUSTS.
