Insurance for a child with Down syndrome

Hello Mr. Tan,

My youngest daugther has Down Syndrome. She attends normal mainstream school and has no congenital medical condition. We would like to plan for her future investment, especially when we are not around with her. Can you advise what insurance plan/life policy are available in Singapore or even overseas country?

REPLY

I suggest that you buy a fixed term annuity for your daughter. You can pay a single premium, and she will receive a monthly sum for a fixed number of years, say for 20 or 30 years. Your doctor can probably advise what is a suitable term based on her life expectancy.

As this is a fixed term annuity, the payment will continue to be made for the fixed term, regardless of the survival status.

You will probably find it difficult to get medical insurance to cover her medical expenses.