If you’ve never thought much about it, here’s why you should

Family with toddler

When we have happy and healthy kids, it's easy to overlook the need for insurance. After all, we’d never wish for anything bad to happen to them. Coupled with the misconception that insurance is a costly affair and a hassle to sign up for, it's no wonder there's little motivation for parents to look into it.

Did you know that buying insurance for children doesn't have to be a chore? It can take only a few minutes to sign up for a plan. You can even buy insurance for as low as $5 a month, which is less than a flat white! If that isn't convincing enough, here are a few more reasons why you should sign up for one:

Children are more vulnerable than we think

Almost everything infants and young children do is a "first" or a milestone. From their first roll to their first step, parents try so hard to capture them with photographs and videos. Every day is a new adventure with many discoveries for both parent and child. With anything new, there is always risk. It takes only a split second for accidents to happen. For instance, what if you turn away a second and your child who has never rolled before suddenly rolls over but falls off the bed? Or your toddler trips at the playground and fractures her arm?

Likewise, when it comes to food, we'll never know what our tots are allergic to until they try them. Some children may have instant reactions, while others may face a delayed onset of symptoms. Having insurance for children will allow you to focus on your kids during an emergency, so you can give them the best care without worrying about the cost.

According to the National Centre of Infectious Disease (NCID) in Singapore, a hand, foot and mouth disease (HFMD) epidemic that occurred between September and October 2000, had a total of 3790 cases over a span of just two months. While a similar epidemic has not occurred since then, the HFMD virus is still present and occurs in daycare up till today. This is because infants and toddlers have not fully developed their immunity so they’re still more susceptible to infectious diseases such as HFMD and stomach flu. Some of these illnesses may be covered under basic insurance for children.

Safeguard yourself financially

When a child falls sick or has an accident, all plans go out the window, whether it's that important meeting you've been preparing for or a once in a lifetime travel opportunity. The worst part is that you can never anticipate when it could happen.

Also, when a child is not in his best health, parents will need to take time off to care for him and this could result in a loss of income. If your child usually attends daycare, you'll know that the fees are non-refundable. Having insurance for children can cover some of these losses and put your mind at ease, helping you focus on what's most important – your child's wellbeing.

Getting an insurance plan for your child is simple

Unlike adults, children don't have long medical histories. This means that underwriting for insurance for children may be simple and fast. With a range of insurance providers to choose from, the onus is on parents to take the first step. The last thing you want is for finances to hold you back when your child requires medical attention. 

If you feel that insurance plans often limit your options, consider signing up for the TRIBE by Income (TRIBE) child pack. Starting from $5 a month (and you can stop anytime), the pack comes with two insurance plans: the Child Illness Plan which covers infectious diseases, food poisoning and allergies, and the Child Injury Plan which covers accidents and injuries. 

Upon signing up, you can easily choose to have more coverage under the Child Illness Plan or Child Injury Plan by adjusting the premium amount to fit your child’s needs. For example, if you're enrolling your child in daycare for the first time, it may be wise to have more coverage on the Child Illness Plan as your child may be more prone to infectious diseases in a school setting. If your child is learning to cycle, you could get more coverage on the Child Injury Plan just for that period of time, since the chances of falling and getting injured is higher than usual. Customising plans is a value-added benefit of TRIBE, and it can be done easily on the dashboard on their website. Of course, if you choose to increase the coverage for any of the plans, the premiums will change accordingly.

You’ll be glad to know that TRIBE is offering free 6 months coverage of the Child Pack to all SmartParents readers until 31 July 2021! Other promotion terms and conditions apply.  

Just follow these easy steps to get started: 

1. Go to bit.ly/t-smartparents to buy the “Child Pack”
2. Choose the $5/month premium
3. Follow the instructions to create an account and enter promo code <SMARTPARENTS6> upon checkout
3. You’ll be all set with a 6-month TRIBE child pack insurance subscription


For more information on the Child Pack, head to TRIBE’s website

Important Notes:

This article is sponsored by NTUC Income Insurance Co-operative Limited (“Income”) and meant purely for informational purposes and should not be relied upon as financial advice. It reflects the author’s opinion and not that of NTUC Income Insurance Co-operative Limited (“Income”). This article has no regards to any person’s investment, protection and financial needs. Please seek advice from a qualified advisor for a suitable product. Income is not responsible to any person for this article including any unauthorised use of information. This is not an offer, recommendation or solicitation to buy or sell any products. The precise terms, conditions and exclusions of any Income products mentioned are specified in their respective policy contracts. Protected up to specified limits by SDIC. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as of 8 June 2021.