This is a coverage of Lena, our Head of Solutions, in an interview with Lianhe Zaobao surrounding financial planning for families with special needs. Lena mentioned that the insurance payouts in the event of the death, illness or disability of a caretaker, has to cover the expenses of the cost of hiring another caretaker. Additionally, Lena also mentioned that should there be a loss of income, there should be sufficient insurance payout to cover the living expenses, and for a child with special needs, the living expenses will potentially be higher than an ordinary family.
The article also included Lena’s comments about CareShield Life, managing the child’s finances through a letter of intent or employing the help of the Special Needs Trust Company for their trust services. Spokespeople from Financial Alliance and SingCapital also contributed to this article.