Why PRUmy Child Plus is the Best Prenatal insurance
For first time parents, it is almost impossible to map out the baby’s future single handed – especially with the growing pregnancy complicates that is plaguing the modern world. Plus, we all know that the cost of living has gone higher now, so much so, that education seems like a luxury. Hence, there must be a solid plan to secure your child’s future. Which is why we believe PRUmy Child Plus is the best prenatal insurance available right now for most people.
PRUmy Child Plus is a product of Prudential and Prudential knows the joy, expectation and anxiety that parents experience when they welcome the first born to their family. Apart from your body changing every day, you are flooded with a mix of emotions. You have to build the nursery for your child, read stacks of baby books to prepare for the little one, go to Lamaze classes and hundreds of other different things in these 9 months.
So, to help you get things in order, Prudential brought the best prenatal insurance that you can imagine. PRUMy Child Plus has a basic plan with multiple riders (allowing you to customise the product to fit your exact needs instead of having to pay a premium without wanting some of the benefits) which covers the need of your child at every step. The policy's goal is to plan out to take care of your baby from the womb till he/she is old enough to live a full-fledged life with their own family.
What Will You Get from the Basic Plan, PRUWith You?
The basic plan of PRUmy Child Plus is PRUWith You. PRUWith You provides a lump sum of money which will be disbursed at event of your child’s death (God forbid!) or TPD (Terminal Permanent Disability). And if no such unfortunate occurs, your child will receive the lump sum money when the policy matures. This will give them the financial cushion to start ahead in life. Next, comes the multiple riders that you can incorporate in your PRUWith You plan to secure his/her wellbeing.
The Riders that makes PRUMy Child Plus the Best Prenatal insurance
1. Prenatal Rider – Infant Care Plus
Prenatal rider starts from stage zero. That means when you conceive the baby, there is 9 months waiting period before the baby makes its grand entry. To ensure his sound health in these 9 months, PRUMy Child Plus introduced the Prenatal rider, Infant Care Plus.
Infant Care Plus is a prenatal rider which covers the critical period of your pregnancy until your child is 5 years old. This rider takes care of both the baby and the mother during this intricate period. PRUMy Child Plus's Infant Care Plus deals with the cost of incubation, premature delivery and additional hospitalisation expenses that may occur. Besides these awesome benefits, you will get constant financial back up if your baby is diagnosed with selected congenital diseases, child-prone deficiency or any other pregnancy complications. It is primarily designed to help you give birth a healthy baby and enjoy the pregnancy journey without any hiccups.
2. Critical Illness Riders – Essential Child Plus
As your child grows, PRUmy Child plus evolves with more riders to meet his/her footsteps. It has an exclusive rider called Essential Child Plus which covers your baby’s medical expenses if he/she is diagnosed with any of the specified 43 critical illness included in the rider. The rider will immediately pay part of its sum assured when any of these listed critical illnesses is diagnosed and it covers your child’s medical expenses until he/she reaches the age of 25. And to make your life easy, the rider automatically converts to Crisis Care with your child as the policy owner from the age of 26 years. This way your child gets to have lifelong financial coverage for their wellbeing without having to struggle for random financial aid.
There is another special critical illness rider called Acci Guard Plus. Acci Guard Plus pays off a lump sum if your child is disabled due to some accident. It also helps you through any tough times with compassionate benefit if your child does not survive the accident.
3. Medical Riders – PRUValue med
The medical riders which follow suit with the ones above come handy in your child’s daily life. For example, your growing child may need medical attention for various occasions. It can be as trivial as spraining his ankle while riding a bicycle to having an appendix surgery. To cover such medical expenses, PRUMy Child Plus has a rider, PRUValue med. It covers all outpatient and hospitalisation medical expenses throughout your child’s lifetime. The best part about PRUValue med is that it has no annual or lifetime limit, so your child can benefit from this rider as long as he/she requires.
In fact, to enjoy extra coverage from this rider, you can opt to Med Saver 300 which has a deductible option. This option requires you to pay an upfront amount of RM300 from your claimable benefit before Prudential pays for the rest of the expense. By doing this, your premium will drop significantly. This rider is exceptionally useful to save up on your premium for future coverage enhancement and retirement funds.
4. Savings/Investment Rider – PRUSaver Kid
Now, that your child’s health expenses are completely taken care of, all that’s left is to find a way to provide for their future education. Do you know that Malaysia is the 5th most expensive country to get a higher education? And parents often claim that they spend the better half of their salary in their children’s higher education!
But it doesn’t have to be like that for you because you know you have options.
Prudential has come across this staggering statistic and came with a solution with PRUSaver Kid. This is another rider that comes with PRUmy Child Plus. The rider enables PruMy Child Plus to be an investment linked insurance product. So, if you take PRUSaver Kid, then your premium will be divided into 2 categories. One portion of the premium will cater to the basic plan, PruMy Child Plus. The other portion will keep accumulating in your child’s investment account. The more premium you pay, the more you can save in the investment account. This money is invested by Prudential to provide higher returns and increased cash values. So, when your child is 18 years old, the fund can be disbursed for his education and higher studies.
5. Back Up Riders
All said and done, there is still the question of what happens to your baby if you or your spouse passes away during his growing years, unable to pay the premium for the remaining years? For this very specific situation, Prudential also has additional riders connected to PRUmy Child Plus called Parent Payor Basic and Saver riders. If you have these riders attached to your basic plan, then the premiums will be paid on your behalf by Prudential even at your absence.
And as bonus to the best prenatal insurance policy, PRUmy Child Plus rewards your child with an additional RM 500 cash to celebrate his special events such as his wedding, doubling of salary, owning a house or starting his own family.
How Soon Can You Start?
The best part of buying this insurance is that you can start with as small as RM 250 as premium. According to your financial capacity, you can choose to take up more riders which will add to your premium.
As for the impending waiting period, Prudential keeps it to a bare minimum. If you purchase PRUMy Child Plus, you have to wait only 30 days from birth to start enjoying the benefits of this policy. And if you took PRUWith You (the basic plan) along with its Prenatal rider, Infant Care Plus, then there is no waiting period in case of the child’s death and TPD.
We hope this article could highlight the importance of having the best prenatal insurance and how immensely you can benefit if you choose the right one for your child. PRUMy Child Plus thinks on behalf of you so that you have access to your child’s financial security at all times and relish your motherhood with peace of mind.
If you’re considering PRUmy Child Plus, but don’t have an agent that you can trust to be there throughout the years, leave a message below and we will connect you to a vetted certified Prudential agent. The people we vet are people we would refer any of our loved ones to work with.