family financial planning

Parents often balance education and healthcare priorities, yet protection planning for children is still filled with misconceptions. Misunderstandings about what hospital plans cover, how lump-sum benefits work, and how claims are filed can leave families financially unprepared. Clarifying these myths helps parents decide whether to consider a Junior Protection Plan for financial security or an Enhanced IncomeShield policy for hospitalisation coverage, without duplication. Myth 1: “MediShield Life Is Enough For Every Child” MediShield Life provides a basic safety net, but its coverage is tailored to subsidised wards and selected treatments. Families who prefer private hospitals or specialists often find themselves…