This is a personal review of the AIA Mum2Baby Choices maternity plan. This plan covers the mother during pregnancy and the option to transfer the cover to her child when the baby is born.
What is AIA Mum2Baby Choice?
The AIA Mum2Baby Choices has 2 bundles where one can choose from. Adding a prenatal rider will provide maternity cover for the Mother during pregnancy and extended to the child after he/she is born. There is a flexibility to transfer the base plan (either a whole life or an investment linked policy, both with the option to add in critical illness cover) from the mother to the child within 60 days from birth, with no medical questions asked.
What are the unique features of this plan?
The prenatal cover is a rider that can be added into the base plan, which is either a whole life policy, or an investment linked policy. For clarity and because there are more added benefits for this bundle, I will talk in more detail about the AIA Guaranteed Protect Plus (II) Whole Life Plan with Prenatal Rider, AIA Baby Protect Plus (II).
When a mother buys the policy during pregnancy, she and the baby will be covered for the following for 3 years from policy effective date.
- 14 Pregnancy Complications (Payout of $5,000, $10,000 or $25,000 depending on plan type)
Hospital Care Benefit for up to 30 days due to any of the covered pregnancy complications with 10 additional conditions covered (Payout of $100, $200 or $500 per day depending on plan type)
Critical Illness (Including Early Stage Critical Illness), Total Permanent Disability and Death coverage up to the sum assured. (This is before transferring the policy to the child)
25 Congenital Illnesses (Payout of $5,000, $10,000 or $25,000 depending on plan type)
Hospital Care Benefit for up to 30 days due to admission into ICU/HDU, premature birth requiring neonatal ICU/HDU, phototherapy or blood transfusion for severe neonatal jaundice, and other covered infectious diseases (Payout of $100, $200 or $500 per day depending on plan type)
Transfer* of within 60 days from birth of Mum’s Critical Illness (Including Early Stage Critical Illness), Total Permanent Disability and Death coverage up to the sum assured, without medical underwriting
*Upon transfer of policy, should policy cover for early stage critical illness, your child will be covered for additional 16 juvenile critical illnesses and 9 special conditions such as ADHD, Autism and Dyslexia, on the policy anniversary following the child’s 21st birthday
Who is it suitable for?
Couples who wants to cover babies conceived via IVF, IUI, ICI & ICSI.
Couples who are looking to defray some of the medical expenses in the event of a pregnancy complication, premature birth of child or congenital illnesses.
Couples who want to cover their children for critical illness and child illnesses without worrying about insurability when child is born. In fact, this is the only bundled plan that provides cover for early stage Critical Illness from the start of the plan.
Who is it not suitable for?
Couples who are looking for a policy that covers normal childbirth.
Couples who are looking for comprehensive hospitalization cover for child.
Couples who are look for a stand-alone maternity plan.
Previously I wrote about the different types of maternity coverage that are available in the market right now. If you are not sure about them, head over here to understand more about it.
As we all have different needs and concerns, do share your considerations when selecting a maternity plan to make sure it suits you the best. We are all unique and our expectations and experiences are different. There is no such thing as the best plan out there, only the most suitable plan for you.
Disclaimer: Information written is to my best knowledge as per the date posted and has no legal rights. It represents my personal opinion, which may be different from yours, and that’s totally cool. It is important to read the policy contract and documents for the full terms and conditions. This post does not constitute a recommendation. Please seek professional advice before committing to a plan as it is a long term commitment.