Prime a better future
for your growing family

Prioritise securing a safer and better tomorrow for you and your loved ones.

High priority

 

Protection

 

In the event of unexpected circumstances such as critical illnesses, accidents or death, at least one or more dependants may be impacted.

 

Your priority for protection:

  • Health insurance for hospitalisation.
  • Protection against accidents and major illnesses so that your needs during recovery continue to be met.
  • Financial payout for death, terminal illness, and total and permanent disability.
  • Maternity insurance if you’re growing your family.

 

 

Plan your protection
 
High priority

 

Wealth

 

You are likely to have taken on more financial demands such as a home mortgage, your children’s education, and retirement.

 

Your priority for wealth:

  • Savings for immediate and future expenses.
  • Retirement planning.

 

 

 

 

 

 

 

 

Build your wealth
 
Medium priority

For Your Dependants

 

Protecting your loved ones from the unexpected can allow you to focus on your responsibilities without constant worry.

 

Your priority for your dependants:

  • Health insurance for hospitalisation.
  • Protection against accidents, death, terminal illness, and total and permanent disability.
  • Care plan for your parents.

 

 

 

 

 

 

Protect your dependants
 

Learn more about your needs

Protection

Safeguarding your health grows in importance as you embark on a new phase of life. Saving for your upcoming milestones will be easier when you don’t have to worry about medical expenses.

What you already have¹

If you are a Singaporean or PR, you’re automatically covered by three national schemes:

  1. MediSave
    A national savings scheme which helps CPF members save for future medical expenses, especially during retirement.

  2. MediShield Life
    A health insurance for large hospital bills and selected outpatient treatment costs.

  3. CareShield Life
    Long-term care insurance scheme for financial support and monthly cash payouts in event of severe disability

What you may consider²

With big-ticket items lined up in your future, being sufficiently protected is critical in ensuring that your savings can be used as intended – for the new life you’re building.

National schemes do not fully cover:

  1. Hospitalisation
    An Integrated Shield Plan (IP) provides additional coverage for private hospitals or higher ward classes in public hospitals.

  2. Critical Illness
    You’ll need coverage of 4x annual income. (Recommended)³

  3. Death & Total and Permanent Disability
    You’ll need coverage of 9 – 10x annual income. (Recommended)³

  4. Savings²
    To stay covered and accumulate savings over the years.

  5. Maternity
    Coverage for baby and mum.

It’s recommended to spend at most 15% of take-home pay on insurance protection.

Why act now

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Health crises can cause income loss and depletion of family funds².

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Ensure either partner can sustain the family if the other faces an unfortunate event.

Find the right plan

Prepare for your health gap years—the period when a critical illness diagnosis may require time away from work to focus on recovery for yourself or your loved ones. Be protected from the financial impact of serious conditions such as cancer, stroke, and heart attack, so you can recover with peace of mind and continue supporting your family in the event of a critical illness.

Wealth

Making plans to settle down requires stability. Having a plan to grow your money steadily will help achieve your goals including future expenses and retiring comfortably with your partner.

Basics – what you should have³

  1. Emergency Funds
    At least 3 – 6 months’ worth of expenses (including dependants) for rainy days.

  2. Legacy Planning
    A plan for a will, family trusts, life insurance, powers of attorney, and CPF nominations.

What you may consider²

Creating new memories during your new phase of life will need savings. Giving your money time to grow can mean that your future milestones can be met comfortably.

  1. Investment
    It is recommended to allocate at least 10%3 of your take-home pay for key milestones.

  2. A Retirement Plan³
    It is never too early to start building your nest egg for the retirement lifestyle you want, including monthly payouts.

Why act now

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Supporting dependants and your lifestyle requires building a well-diversified portfolio².

As lifespans are increasing⁴, you’ll need a plan for your financial needs in the future.

Give more time for compound interests to accumulate over the years⁶.

For your dependants

One of the best gifts you can present to your children is securing their road ahead.

Basics – what you should have¹

If they are Singaporean or PR, they’re automatically covered by three national schemes:

  1. MediSave
    A national savings scheme which helps CPF members save for future medical expenses, especially during retirement. You can also use your MediSave to pay for medical bills incurred by your immediate family members.

  2. MediShield Life
    A health insurance for large hospital bills and selected outpatient treatment costs.

  3. Dependants’ Protection Scheme⁷
    Term life insurance scheme that provides basic financial protection for you and your family in the event of death, terminal illness or total permanent disability.

What they may need

As children may be more prone to injuries and falling sick, it’s important to plan for comprehensive coverage for them:

  1. Integrated Shield Plan
    Additional coverage for private hospitals or higher ward classes in public hospitals.

  2. Life Insurance
    Coverage for death, terminal illness and total permanent disability.

  3. Personal Accident
    Coverage for injuries and accidents, including food poisoning and HFMD.

Why act now

A whole life policy builds over years, leaving a sizeable cash value⁸.

Premiums increase with age for selected policies, your child can reap the benefits of lower premiums in the long run.

Lower likelihood of
pre-existing conditions excluded from your child's coverage.

Value-added services under PRUPanel Connect

Get a better healthcare experience with PRUPanel Connect, including fully subsidised home-based vaccinations for young children under 18 months.

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Important information

Please note that some products have non-guaranteed premiums which are subject to change. In the event of a change in premiums, advanced written notice will be provided.

 

¹ Get Peace of Mind for Your Healthcare Needs, Central Provident Fund Board

² Protection Needs for Different Life Stages: Newly Married Couples or Couples With Young Children, Life Insurance Association Singapore, 7 June 2019

³ Life Insurance Simplified Calculator, Life Insurance Association Singapore

⁴ Basic Financial Planning Guide for Working Adult (Starting a Family), Moneysense

⁵ Complete Life Tables for Singapore Resident Population 2022 – 2023, Department of Statistics Singapore, 6 June 2024

⁶ The Power of Compound Interest: Calculations and Examples, Investopedia, 28 February 2024

⁷ Protect Your Loved Ones with the Dependants’ Protection Scheme, Central Provident Fund Board

⁸ Child Insurance in Singapore – Which Policy Should You Buy & How Much Does It Cost?, yahoo!finance, 15 March 2022

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