My father-in-law gave us a lift to Orchard this morning for our baby’s first paediatrician appointment since being discharged from the hospital last Fri 8 Nov. He’s okay so far and the next appointment is in 3 week’s time. The cost of this visit was $100 and it got me thinking about the financial coverage we have in place for the baby. Admittedly, insurance planning is not my strong suit and it’s also not my area of interest. Both my wife and I have similar insurance coverage:

1. Corporate medical insurance for ourselves that covers the spouse
2. Personal Integrated Shield Plan
3. Wholesale Life insurance policy
4. Dependents’ Protection Scheme

We didn’t get personal maternity insurance when my wife was pregnant. While we could see why it’s necessary, we decided to take a risk and not buy the maternity insurance. Which as you can see from the sequence of events, almost cost us dearly....