Newborn insurance is often the most troublesome issue for new parents. Following the advice of business relatives and friends, they always worry that it is too expensive or the coverage is not enough. Therefore, Finfo has sorted out the key points and recommended insurance combinations for newborn insurance. As long as you master a few simple principles, you can also buy high protection with a small premium!
Starting from October 1, 2019, newborn screening can be divided into 21 newborn screening tests subsidized by the Ministry of Health and Welfare and self-paid examinations by hospitals.
The 21-item "Neonatal Congenital Metabolic Disorders Screening" subsidized by the National Health Insurance will collect blood for testing 48 hours after birth. If there are any abnormalities in the test, parents will be notified about 10 days after birth.
As long as we apply for insurance within these 10 days, because no one knows what the screening results will be, the baby will be regarded as a healthy baby at this time. Even if the final screening report is abnormal, the insurance company will still have to pay the claim.
If you wait until the screening results come out before applying for insurance, if an abnormality is reported, the insurance company will require you to wait until the baby's physical condition is stable before evaluating it, which will delay the time to apply for insurance. If the report results are all normal, don’t worry too much even if the best time to apply for insurance is exceeded. Just apply for insurance as soon as possible!
By the way, remember to register your household registration and obtain your ID number before you can apply for insurance.
It is recommended that the self-paid inspection be done 30 days after signing up for insurance
Medical insurance usually has a 30-day waiting period, which means that diseases detected within 30 days of the policy being effective will not be compensated (the 21 screening tests subsidized by the Ministry of Health and Welfare are not subject to this restriction), so it is recommended that you wait 30 days after the policy is effective. Get these self-pay tests. However, health is the most important thing. If you have any abnormality, you still need to seek medical treatment as soon as possible.
Basic concepts of buying insurance
1. Buy the highest protection with the lowest amount of money
Before buying insurance, we must first think about why we need insurance?
The purpose of insurance is to protect against unaffordable losses. To put it simply, certain diseases or accidents require money, but we don’t have enough money. At this time, insurance can share part of the expenses and solve the family’s financial crisis.
Remember, we need the help of insurance because we don’t have enough money, so our goal is to use the least money to buy the highest protection, and then quickly accumulate assets until you accumulate enough wealth to unlock the shackles of insurance and easily live on land.
2. One-year and term insurance are preferred
When searching for insurance information, you will see that there are one-year, term, and whole-life insurance plans. We give priority to one-year and term insurance. Whole-life insurance will concentrate the premiums required to protect this life in ten to thirty years. The premiums will naturally become expensive, which will seriously squeeze your budget.
For the same money, whole life insurance buys "low protection in the long term", while one-year and term insurance buy "high protection in the short term".
Remember our goal? Buy the highest protection with the lowest amount of money. What we need is high protection, not long-term insurance, so when choosing insurance, give priority to one-year and term insurance. Remember this principle and you can already save a lot of money~
3. Matching of main covenant and appendix
Insurance can be divided into a main contract and an add-on. An add-on must have a main contract before it can be purchased, just like a supermarket add-on gift. Generally, insurance with a high CP value is an add-on, and the main contract is not what we want. , If you are smart at this time, you must know what to do. Yes, it is to find the cheapest main contract and add the rider you really want to buy.
But please note that only products from the same insurance company can be matched with each other!
Each company may have products you like. If each product must be matched with a main contract, it will cost too much unnecessary money, so try to focus on three to four companies. After all, our goal is to use the least amount of money. Money can buy the best protection.