Insurance & Costs of having and raising a child

(31-08-2012, 03:34 PM)Bibi Wrote:

(31-08-2012, 02:41 PM)palantir Wrote: So far based on my experience is about $1k per month and that is already consider high side

$1K per mth for pre-school, food, diaper, maid, caregiver ... Your experience of $1K is high may i ask is how many decades ago?

My experience is even got money you will not have a place in pre-school. My boy waited for 2.5 years for a place in childcare. I queued for him all the centers near my house. Only 2 replied and that is 2.5 years later. This is the amount of foreigners our govt have let in and yet refuse to increase on facility and infrasture spending.

I think you're talking about Child Care and I agree there's an infrastructure problem which the govt had been scrambling to resolve for the past couple of years. Due to the escalating rents, quite a few operators in my area closed shop a couple of years. So, you're right, I heard of many similar stories as yours...

But, Child Care is different from Kindergartens altho' some (or most) Child Care (or Day Care for the older kids) also offer Kindergarten programmes.

For Kindergartens, you won't have the similar severe kind of Queue problem, unless it's a 'prestigious' one where you have lots of rich or rich-wannabes competing for limited vacancies. There're many operators, ranging from the affordable range like PCF (PAP) to PlaySkool (NTUC) to Religious Organisation (Church, Mosque) to High End ones which I don't even know how to spell the name... Prices range from <$200 (used to be <$100) to thousand?? per mth.

Quite a few of the PCF ones are converted to Day Care in recent times to meet the changing demands. NTUC have also moved into this segment quite aggressively in recent times. Still, the problem will of getting a slot will likely persist for a few more years.

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(30-08-2012, 04:54 PM)d.o.g. Wrote:

KopiKat Wrote:If it's not, then anybody who earns less and yet still have kids, they wouldn't be able to help them with any financial planning...

Given their stated level of income, it's likely they are focused on high net worth (or at least high income) clients. That may also influence their choice of lifestyle.

For marketing purposes it might not be appropriate to arrive at your client's bungalow in a Chery QQ, or wear a Giordano T-shirt to your client's house party. Likewise, if your clients ask you for an informed view of where to send their kids for pre-school, it may not be the best idea to say "PCF is cheap and good".

Birds of a feather flock together. Although I know some wealthy people who have no airs, there are others who will only associate with those they deem wealthy enough.

Have to learn how to draw a line between Work and Personal...
Have to learn to be more "Inner Scorecard" than 'Outer Scorecard"...

(31-08-2012, 04:51 PM)KopiKat Wrote: I think you're talking about Child Care and I agree there's an infrastructure problem which the govt had been scrambling to resolve for the past couple of years. Due to the escalating rents, quite a few operators in my area closed shop a couple of years. So, you're right, I heard of many similar stories as yours...

But, Child Care is different from Kindergartens altho' some (or most) Child Care (or Day Care for the older kids) also offer Kindergarten programmes.

For Kindergartens, you won't have the similar severe kind of Queue problem, unless it's a 'prestigious' one where you have lots of rich or rich-wannabes competing for limited vacancies. There're many operators, ranging from the affordable range like PCF (PAP) to PlaySkool (NTUC) to Religious Organisation (Church, Mosque) to High End ones which I don't even know how to spell the name... Prices range from <$200 (used to be <$100) to thousand?? per mth.

Quite a few of the PCF ones are converted to Day Care in recent times to meet the changing demands. NTUC have also moved into this segment quite aggressively in recent times. Still, the problem will of getting a slot will likely persist for a few more years.

All childcare near Jurong Point area have kindergarten programs. There is only one PCF over here surrounded by 20+ HDB blocks. There is one private enrichment class which also do provide kindergarten programs and that is > 500m away. My boy was put in that school playgroup class while waiting for childcare centers to call me. And we were lucky someone pull out of that playgroup class and my son got a place. Due to the far distance, i have to engage a bus operator to send my 2yr old boy there at that time. U can guess how much in total it cost.
Do you know how my boy finally get into a place in childcare? Its during election period where the PAP related entity (MCYS i think) plan to open 2 more around my area. The catch is PAP must win the election here. I was so fed up when i hear this and needless to say my vote went to opp.

(29-08-2012, 08:53 PM)brattzz Wrote: Like the aviva-SAF group term insurance, 1 single point of contact, email correspondences, fill up the application forms and pay giro, policy in force liao.

low operating overhead cost, maximum coverage protection.

Fee based!

I noticed that the aviva saf group term insurance states coverage for death due to illness and accident. Does anyone know if it covers other causes of death as well, e.g. Murder, suicide?

(28-10-2012, 03:43 PM)Muck Wrote:

(29-08-2012, 08:53 PM)brattzz Wrote: Like the aviva-SAF group term insurance, 1 single point of contact, email correspondences, fill up the application forms and pay giro, policy in force liao.

low operating overhead cost, maximum coverage protection.

Fee based!

I noticed that the aviva saf group term insurance states coverage for death due to illness and accident. Does anyone know if it covers other causes of death as well, e.g. Murder, suicide?

I seriously don't think you can find an insurance company that covers for suicide..

(28-10-2012, 08:44 PM)Traumfanger Wrote: I seriously don't think you can find an insurance company that covers for suicide..

Wait wait wait, i thought i remember some insurance companies do cover for death due to suicide? The insurance company will payout only after the insured has maintained the policy for at least one year. That means if a person wants to suicide, he can sign up for a policy and commit suicide only 1 year or more later.

Why think of such suicidal policies ?
Let life takes its natural course.......

Just a side-track....
Anyone out there claims anything out of
CPF......Medishield, eldershield,etc.

I opted out of all CPF insurance schemes.
I think they are not worth the premiums.
Like all insurance schemes, pay and pay but
difficult to claim.

(29-10-2012, 10:07 AM)ken Wrote: Why think of such suicidal policies ?
Let life takes its natural course.......

Just a side-track....
Anyone out there claims anything out of
CPF......Medishield, eldershield,etc.

I opted out of all CPF insurance schemes.
I think they are not worth the premiums.
Like all insurance schemes, pay and pay but
difficult to claim.

self insure?

(29-10-2012, 10:07 AM)ken Wrote: Why think of such suicidal policies ?
Let life takes its natural course.......

Just a side-track....
Anyone out there claims anything out of
CPF......Medishield, eldershield,etc.

I opted out of all CPF insurance schemes.
I think they are not worth the premiums.
Like all insurance schemes, pay and pay but
difficult to claim.

Quite responsible of you.. if something unfortunate happens to you, you are just pushing the financial pain to the people around you

If all singaporeans think like you, then everyday someone will die, someone will fall very sick, and their loved ones will go around begging for money to pay for medical expenses.

You are just a selfish guy when u opt out of everything, some of these schemes are worth the cost and you should pay for it

(28-10-2012, 10:27 PM)Bibi Wrote:

(28-10-2012, 08:44 PM)Traumfanger Wrote: I seriously don't think you can find an insurance company that covers for suicide..

Wait wait wait, i thought i remember some insurance companies do cover for death due to suicide? The insurance company will payout only after the insured has maintained the policy for at least one year. That means if a person wants to suicide, he can sign up for a policy and commit suicide only 1 year or more later.

I have the same impression of similar clause in my policy. I did not pay attention to the clause, for obvious reason

I believe most insurance will not pay in case of suicide within one year of policy going live. I read that clause in one of my NTuc policies as I was clearing the drawer over the weekend.