Tuesday, May 7, 2013

Buying insurance for in-vitro fertilisation (IVF) baby in Singapore?

Does insurance cover in-vitro fertilisation (IVF) baby? Looking to buy an insurance policy that covers IVF conception in Singapore?

Now AIA Singapore has launched AIA Family First Baby – what it says is the FIRST INSURANCE POLICY in Singapore that includes conception through in-vitro fertilisation

AIA Family First Baby is an all-in-one prenatal insurance and savings plan that provides protection for expectant mothers and even extends to cover their baby after he is born.

AIA Family First Baby comprises both a regular premium Investment-linked Policy (ILP) and AIA Family First Baby Cover rider that can be purchased between 18 to 32 weeks of pregnancy

In addition to providing comprehensive protection for mothers, the savings aspect of the ILP helps ensure that the child receives a head start in planning towards a financially secure future as soon as he is born.

Key Benefits of AIA Family First Baby
Protection for mothers
> Provides Pregnancy Complication Benefit (Table A) – S$5,000
> Hospital Care Benefit for hospitalisation due to Pregnancy Complications – S$100 per day (max 30 days) up to a limit of S$3,000
> Death Benefit (for 3 years) – S$5,000
> New policy with a similar cover can be purchased without any medical underwriting within 60 days from transfer of policy cover from mother to baby

Protection for baby
> Provides Congenital Illness Benefit for 18 congenital illness4 (Table B) – S$5,000
> Hospital Care Benefit – S$100 per day (max 30 days) or up to a limit of S$3,000 for any of the following conditions:
 - Incubation of a newborn child for more than 3 consecutive days immediately following birth;
 -  Premature birth requiring care in neonatal Intensive Care Unit (ICU)/High Dependency Unit (HDU);
 -  Inpatient hospitalisation due to Hand, Foot and Mouth Disease; or
 -  Admission into ICU/HDU
>Guaranteed coverage for baby when the policy cover is transferred to him within 60 days from his date of birth with no medical underwriting required

In 2010, about 9,000 babies were hospitalised for congenital and neonatal conditions in subsidised wards at public hospitals. Even though they were in B2 or C class wards, some 700 had bills that came to more than $5,000.
Source: ‘Caring for babies with birth defects’, The Straits Times, 15 Oct 2012

Table A – Pregnancy Complications covered
Still Birth (after the 28th week of gestation)
Pre-Eclampsia or Eclampsia (after 20 weeks of pregnancy)
Abruptio Placentae (after the 20th week of gestation)
Placenta Increta/Percreta
Amniotic Fluid Embolism
Fatty Liver of Pregnancy
Disseminated Intravascular Coagulation
Postpartum Haemorrhage requiring Hysterectomy

Table B – Congenital Illnesses covered
Anal Atresia
Congenital Cataract
Congenital Deafness
Congenital Diaphragmatic Hernia
Infantile Hydrocephalus
Tetralogy Fallot
Transposition of Great Vessel
Truncus Arteriosus
Atrial Septal Defect
10 Ventricular Septal Defect
11 Down’s Syndrome
12 Spina Bifida
13 Absence of Two Limbs
14 Cleft Palate / Cleft Lip
15 Cerebral Palsy
16 Club Foot
17 Congenital Dislocation of Hip
18 Retinopathy of Prematurity

Frequently Asked Questions
1. Who can apply for AIA Family First Baby?

You can apply for AIA Family First Baby if you are a female aged between 18 and 45 years and are between 18 and 32 weeks of pregnancy.

2. I have an existing regular premium ILP plan. Can I add on AIA Family First Baby Cover rider when I am pregnant?

AIA Family First Baby Cover rider can only be bought together with a new regular premium ILP plan1.

3. How will this plan complement my other health/ hospitalisation insurance plans which cover for a child’s congenital abnormalities from birth?

Most health / hospitalisation insurance plans cover congenital illnesses on reimbursement basis. AIA Family First Baby Cover rider complements such plans as it provides a lump sum benefit when a child is diagnosed with congenital illnesses. Furthermore, the child will enjoy guaranteed protection cover when we receive written notification of the child’s birth and the policy is transferred to him within 60 days from his date of birth.

1 Customers may choose from either AIA Family First Protect or AIA Family First Assurance.
2 This benefit will only be paid once provided the pregnancy complication arises in relation to the pregnancy which takes place at the point of application of the policy regardless of the number of pregnancy complications suffered by the mother. Upon payment of a claim, this benefit will automatically terminate.
3 The option for the mother to purchase a new investment linked, whole life or endowment policy offering equivalent or similar cover without requiring further evidence of insurability must be made within 60 days from the date of transfer of the policy cover subject to certain conditions being met.
4 This benefit will automatically terminate once a claim for congenital illness benefit is paid. This benefit will be paid once while this rider is in force regardless of the number of congenital illnesses suffered by the child.

For more information: http://www.aia.com.sg/en/individuals/products-services/protection/life/aia_family_first_protect.html


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