We often think we have time, until life reminds us otherwise. At 26, Andrea Lim was diagnosed with lymphoma while pregnant with her second child. In the blink of an eye, life changed. Her medical bills quickly climbed to over $100,000, but because she had taken life insurance early, her treatment was fully covered. Her hospital bills, including costly chemotherapy, were fully covered. She shared that the greatest relief in her darkest moments was knowing she didn’t have to worry about finances — she could focus on healing and being there for her child.
Stories like Andrea’s remind us that life’s biggest surprises often come without warning. For parents, this is especially sobering. As much as we wish to shield our children from life’s uncertainties, one of the most practical ways we can protect them is by planning ahead.
And when you look at the true cost of raising a child in Singapore, planning ahead is absolutely essential.
The Expected and Unexpected Costs of Raising a Child in Singapore
Prenatal essentials such as blood tests, ob-gyn visits, supplements, delivery charges, and hospitalisation fees can quickly add up. A widely shared infographic from SmartParents breaks down just how costly pregnancy itself can be.
Image 1: Infographic by SmartParents, detailing the breakdown of expenses in raising a child
On top of these expected expenses, potential unexpected complications can arise during pregnancy or childbirth. According to the Singapore Medical Association, there has been a sharp rise in metabolic disorders, non-communicable diseases, obesity and an alarming prevalence of mental health issues among perinatal women in recent years. These conditions not only increase a woman’s risk of pregnancy complications, but also result in increased risks in the offspring of childhood obesity, behavioral disorders and later life metabolic disease, catalyzing vicious cycles of disease, as echoed by a 2022 study conducted by researchers from The Chinese University of Hong Kong.
Image 2: an overview of maternal obesity and its complications for mother and child
across different life stages
With such complications becoming more prevalent, early preparation and possessing a safety net can make a huge difference in providing a peace of mind, both medically and financially.
Overview of Maternity Insurance
One important, yet often overlooked way parents can safeguard their growing family is through maternity insurance. These plans typically provide coverage for pregnancy complications, hospitalisation, and in unfortunate cases, miscarriage. Some policies also offer protection for congenital conditions or complications that may arise during childbirth.
What’s particularly useful is that many maternity plans can be transferred to the baby after birth, offering a smooth continuation of protection from pregnancy through infancy. This is especially valuable during those early days when a newborn’s medical needs and vulnerabilities are at their peak.
Yet, many parents only start exploring these options after the baby arrives — sometimes when it’s too late to qualify for comprehensive maternity coverage or favourable premiums. Planning early can give parents the peace of mind that their child is protected right from the start, without scrambling to make decisions in the thick of new parenthood.
What exactly is Maternity Insurance?
Maternity insurance is a specialized type of health coverage designed to help expectant parents manage the medical costs associated with pregnancy, childbirth, and postnatal care. Its primary purpose is to provide financial protection against expenses such as prenatal consultations, delivery fees, hospital stays, and any complications that may arise during or after pregnancy. By having maternity insurance, families can focus on the health and well-being of both mother and child without worrying about unexpected medical bills.
Standalone Plans vs. Maternity Riders
Maternity insurance in Singapore is typically offered in two forms:
-
Standalone Maternity Plans – These are dedicated policies that focus solely on maternity coverage. They provide comprehensive protection for pregnancy-related expenses and often include additional benefits such as newborn care or wellness programs for the mother.
-
Maternity Riders – These are add-ons to existing health insurance policies. Instead of purchasing a separate policy, expectant parents can attach a maternity rider to their current health plan. While convenient, coverage may be more limited compared to standalone plans, and waiting periods may apply.
What Does Maternity Insurance Cover?
Most maternity insurance policies in Singapore include:
-
Prenatal Check-ups – Routine doctor visits, ultrasounds, and blood tests.
-
Delivery – Both normal vaginal deliveries and cesarean (C-section) procedures.
-
Hospital Stays – Room and board for the mother during childbirth.
-
Newborn Care – Medical attention for the baby, including routine monitoring and hospitalisation if needed.
-
Complications – Medical expenses arising from maternal or neonatal complications, such as preterm birth or gestational diabetes.
** For more details, check with your insurer
Image: Family Financial Planning - Prestige Wealth Advisors
Things to Consider When Choosing a Maternity Plan
-
Coverage Limits
Check the maximum payout per pregnancy or hospital stay, including daily hospital cash. For example, MediSave maternity packages cover up to S$1,130 per day for the first two days and S$400 thereafter. Ensure caps are realistic for private hospital costs.
-
Waiting Period
Most plans impose a waiting period of 10–24 months before maternity benefits apply. Buying after conception or too near to conception usually means you cannot claim for that pregnancy. Financial advisors such as Mark Chan from Prestige Wealth Advisors can do wonders in guiding parents in navigating these timelines, tailoring coverage that aligns with both your family’s needs and long-term financial goals.
-
Delivery & Complications
Confirm if both normal and C-section deliveries are covered. Some plans also include benefits for complications (e.g. preeclampsia, gestational diabetes) and newborn conditions like NICU or congenital illnesses.
-
Hospital Network & Specialists
Check whether the plan covers public and private hospitals, ward classes, and specialist fees (ob-gyn, anaesthetist, neonatal care).
-
Premiums vs. Benefits
Compare premiums with expected medical expenses (private delivery, NICU). Don’t overlook exclusions, co-payments, or deductibles. Also check if costs can be offset using MediSave withdrawals (e.g. S$900 for pre-delivery, surgical and daily hospitalisation limits). For more information on MediSave claims for delivery, check out our article on Public vs Private Hospitals - Navigating Your Birth Options in Singapore.
Tips for Getting Your Maternity Insurance
Since most policies in Singapore have a waiting period of 10–24 months, buying coverage before conception or early in pregnancy ensures you can actually benefit from it when you need it most.
Every family’s needs are different. Consulting a licensed insurance agent or financial advisor can help you match policies to your budget, preferred hospitals, and long-term family planning goals. Prestige Wealth Advisors offers tailored financial and insurance planning to help families secure maternity coverage alongside broader health and life protection. Their team specialises in guiding parents through different policy structures, ensuring that coverage not only meets immediate pregnancy needs but also fits into a family’s larger financial roadmap. With Prestige Wealth Advisor’s expertise, you can confidently choose a plan that balances affordability with comprehensive protection for both mother and child
Download the CradleNest app, or drop us a WhatsApp at +65 9128 5268 for more details. Discover more parenting resources on the app, and follow us on Instagram @cradlenestsg for updates, tips, and a peek into our growing community.
This article was informed by resources from the following:
-
SmartParents – How much does it cost to raise a child in Singapore?
-
Simply Wealth SG – The real cost of raising a child in Singapore: A comprehensive guide
-
Perinatal.sg – Perinatal mental health guidelines
-
MoneySmart.sg – Best maternity insurance in Singapore
-
Singlife – Maternity Care insurance
-
SmartWealth.sg – Guide to maternity and pregnancy insurance in Singapore
-
Pacific Prime Singapore – Understanding newborn coverage under Singapore maternity insurance
-
Expat Living – Maternity insurance in Singapore: What you need to know
-
Income – Maternity 360
-
INTEREXPAT Singapore – Maternity insurance Singapore
-
Thomson Medical – Maternity insurance in Singapore: Everything you need to know