PARENTS who are keen to do their "national duty" by boosting Singapore's flagging birth rate enjoy a slew of incentives.

But for many first-time mothers and fathers, the desire to plan ahead and ensure a quality life for Junior takes priority over other concerns.

Expectant mother Melissa Lee, 32, is looking forward to her first- born, who is due next month.

The marketing manager has already given him his name, Ethan, but she feels lost when it comes to longer- term arrangements.

"My husband and I have made basic preparations like buying furniture, clothes and nursing equipment. We even agreed to do cord-blood banking, just in case our baby needs it in the future. But we're completely clueless where insurance is concerned," she said.

Their hospital, Thomson Medical Centre, provides a first-born incentive scheme that offers Ethan free insurance for his first six months.

"Having some form of insurance is always helpful, even if it's just a token sum," she said, but added that she may consider an add-on.

To help out the Lees, my paper asked Aviva chief executive Simon Newman and Manulife Singapore director for financial services Doris Ng, along with experts from TM Asia Life (Singapore) and NTUC Income, for advice.

Aviva: For a start, they can look at health or medical plans that cover unexpected hospitalisation costs.

They can then consider endowment plans for future education costs and whole-life plans with critical-illness coverage to meet long-term needs.

Aviva's MyShield offers health- care protection for the family, providing unlimited "as charged" medical coverage, along with free medical coverage for all children up to 20 years old.

This means parents can potentially save up to 20 years of medical expenses for their children, provided that both parents are covered under the plan, subject to
underwriting.

Go to http://www.aviva.com.sg/for-individuals/protection-and-healthcare/health.html#m-brochure-and-forms to learn more.

Manulife: They should discuss their needs, priorities, objectives and concerns with a financial adviser.

We recommend that they get a medical-shield plan and an education plan like Manulife's Scholar for the baby.

The latter provides three guaranteed annual payouts that ensure sufficient funds to see the child through university.

If they take up Manulife 3G for the new-born, the baby will receive an annual payout equivalent to 4.2 per cent of the basic sum insured, for life, when he or she reaches 10 years old.

Manulife's Critical Care Enhancer Rider provides coverage for serious illness suffered by the policyholder's future children without additional premium.

Visit http://www.manulife.com.sg/product_overview.aspx for details.

TM Asia Life: It is a common misconception that life insurance provides only protection.

We take a more holistic approach: A child should not only have protection against hefty medical costs, but also a fund for future education on top of life-insurance protection.

It is good to have a life-insurance plan for the child as it guarantees his future insurability.

The premiums would be much lower than if the plan was purchased later in life. For more security, the parents' coverage should precede the child's.

Go to http://connect.tmasialife.com/ProductGroup/index.aspx for more information.

NTUC Income: For protection against large hospital bills, parents can get an as-charged private Shield Plan for their child, which pays for treatment on an incurred basis and does away with claim limits for certain procedures.

Other benefits, such as unlimited lifetime coverage and guaranteed renewal, even in the event of subsequent illness, are included.

Premiums are affordable and can be paid out of the parent's MediSave account.

The Lees can also add a rider to help cap the co- payment amount on a hospital bill, while a child-illness rider will pay a lump sum, should the child be diagnosed with a specified illness.

Two popular endowment policies, PayMyUni and RevoSave, provide savings, flexibility and coverage for policyholders and their children.

Go to http://www.income.com. sg/insurance/savings.asp for more details.

kohht@sph.com.sg

For more my paper stories click here.