Parenting tips for soon-to-be parents

Becoming a parent is a dream come true for many. From getting pregnant, to delivery and confinement, this beautiful journey allows you and your spouse to discover things about yourselves that you never knew. Not to mention milestones such as their first word, first steps, first day of pre-school, and the first family day out – it’s so exciting just thinking about them! But before we get there, let’s look into the various parenthood preparations that all mothers and fathers-to-be will need to make as they plan to start a family.

Pre-marital health screenings or tests

Undoubtedly the most important thing to do before trying to conceive, a pre-marital screening provides a comprehensive view on the health status of the mother and father-to-be and identifies the genetic risks that could impact their future offspring. It is always advisable to get checked, particularly if you and your partner want to have a child together.

Getting a pre-marital screening also allows you to mentally prepare for what’s to come. Blood disorders such as Thalassemia, for example, may catch you off guard and get in the way of your plan to conceive. By being well informed, you can seek counselling and consult specialists to know of your chances of conceiving.

Protection for the baby and mother

If you didn’t know, there are insurance plans that are designed to provide protection for mothers and their unborn child against some risks they may face. Given the inherent risks associated with pregnancy, starting your protection earlier can provide peace of mind to fully enjoy your pregnancy moments.

The GREAT Maternity Care 2 plan is one of them. It is a maternity insurance that protects mothers against 18 pregnancy and childbirth complications¹, while also protecting your child against 26 congenital conditions² from birth until the end of the third policy year. You can get this plan from as early as 13 weeks into your pregnancy, shortly after you have completed the first trimester. Basically, this plan protects you and your unborn child from some of the more common conditions that may set you back financially. Some examples include pre-eclampsia/eclampsia and ectopic pregnancy.

Purchasing this plan further opens up a list of eligible insurance plans offering you the privilege of insuring yourself and/or your child without medical underwriting³ within 90 days from your child’s birth date, so be sure to consult your financial representative beforehand.

Regular check-ups and sufficient supply of various vitamins and supplements for the mother-to-be

Regular visits to your gynaecologist are essential throughout your pregnancy to monitor your baby's development. It is also an opportunity for the parents-to-be to learn about the different foetal milestones from their gynaecologist. If you happen to be experiencing new symptoms such as body rashes, soreness in areas that are unfamiliar, you can ask away during your gynaecologist visits.

Additionally, your doctor will prescribe vitamins and supplements like iron and folic acid. Why? As the baby grows in the womb, they will require very specific nutrients for growth. For parents-to-be who are preparing for parenthood, you may not be the most familiar with what those nutrients are. This is where your gynaecologist comes into the picture to advise accordingly.

Deciding on delivery and confinement arrangements

When it comes to planning for your baby’s delivery, new parents often decide based on their level of comfort at the selected hospital as well as keeping within their financial budgets. Besides the amenities, it is equally important to have a well-equipped labour and delivery ward, as well as a neonatal intensive care unit (NICU) in case your baby needs specialised care.

Depending on your choice of delivery such as natural, elective caesarean or water birth options, the delivery costs will be different as well.

Childbirth takes a toll on a woman’s health and body, which makes confinement extremely important for mothers. Home-based confinement is definitely what most mothers prefer as they can recover and recuperate in the comfort of their home.However, if you prefer a team of dedicated professionals, confinement centres offer around-the-clock care to ensure you and your baby are in good hands.

Preparing for your baby's arrival

As you are approaching the third trimester, you should start your research and shortlist your favourite brands for various baby and toddler gear, including baby cribs, carrier car seats, baby pillows and clothes. Getting the shopping list and physically shopping for these may be tiring but it is definitely enjoyable.

While we are still on the subject, a pro parenting tip that new parents will appreciate is to always get your baby gear earlier. They can sometimes arrive earlier for various reasons, and you do not want to be caught off guard! Not sure where to start? Speak with friends or even your parents to find out what are their go-to brands!

Plan early for your child’s education

It’s never too early to start planning for your child’s education fund, especially considering the rising living costs in the country. As parents, we will want our child to live a debt-free life, if and all possible.

GREAT Wealth Multiplier 3, is a participating endowment plan offering multiplied returns (up to 8X or more)⁴ on total premiums paid. Plus, have the assurance of 100% capital guarantee⁵ as early as the end of the 10th policy year. If you start today, by the time your child reaches adolescence, you would have a sum of money for their education. This serves as a safe and reliable way to grow your wealth, ensuring your child's future educational needs are covered while offering some peace of mind for new parents.

Conclusion

If you are feeling overwhelmed from all the emotional and financial preparation while waiting for the arrival of your family’s addition, fret not. Take a deep breath and start taking baby steps today, and you will be more than ready to welcome parenthood!

Footnotes:

¹ The Pregnancy and Childbirth Complications Benefit is only payable once, regardless of the number of foetuses.

² If the mother is carrying twins, the Congenital Illnesses Benefit is payable once for each child respectively.

³ The Guaranteed Insurability Benefit (GIB) option can only be exercised once for the mother, and once for the newborn. GIB option must be exercised within 90 days from the birth of the child. The list of eligible plans, and the maximum sum assured limit per life per plan that can be purchased on the life of the mother and/or the newborn are subject to change as determined by Great Eastern. The list of eligible plans excludes all hospitalisation plans such as GREAT SupremeHealth and GREAT TotalCare. The precise terms and conditions of the insurance plan are specified in the policy contract.

⁴ Based on the illustrated cash value at the end of policy year 60, premium payment term of 5 years and an Illustrated Investment Rate of Return (IIRR) of the participating fund at 4.25% p.a.. Based on an IIRR of 3.00% p.a., the multiplied returns are up to 4.4X or more. Potential returns are not guaranteed and are dependent on the premium payment term and policy year when the plan terminates. The actual benefits payable may vary according to the future performance of the participating fund.

⁵ Capital guarantee is on the condition that no policy alterations are made. Capital is guaranteed from the end of the 10th policy year for single premium policy, from the end of the 15th policy year for premium payment terms of 5 years and 10 years and from the end of the 20th policy year for premium payment term of 15 years.

~ Terms and conditions for GREAT Bundle of Joy and other promotions/campaigns for selected insurance plans can be referred to on Great Eastern's website.

^# For simplified application of hospitalisation plan for GREAT Maternity Care campaign, terms and conditions of the campaign will apply. Applicable to child born on/after 37 gestational weeks, who is at least 15 days old and discharged from hospital but not more than 90 days old at the point of application. Any Pre-existing Condition from which the Life Assured is suffering prior to the effective date of the eligible plans will not be covered. Please refer to the precise terms and conditions of the eligible plans specified in their respective policy contracts.

Disclaimers:

This advertisement has not been reviewed by the Monetary Authority of Singapore.

The information presented is for general information only and does not have regard to the specific investment objectives, financial situation or particular needs of any particular person.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.

Protected up to specified limits by SDIC.

Information correct as at 23 April 2024.