Maternity Insurance

The Average Cost of Having a Baby in Singapore in 2022

How much does it cost to have a baby in Singapore? From maternity insurance to childcare & endowment plans for your children, we list it all down for you.

Congratulations on the arrival of your new-born! Your little bundle of joy must be nurtured with care and showered with love from now on.

To be honest, providing a warm bed and meals is hardly enough by modern standards. As a responsible parent, you must be mindful of the many financial costs required for raising a child and provide them accordingly to ensure your little one will get a head start in life.

In this article, we will take a look at the essential costs of having a baby post-delivery and what you must be prepared to pay during your child’s early years.

How Much Does It Cost To Have Baby in Singapore

The cost of pregnancy and giving birth in Singapore aside, there are a myriad of unavoidable baby-related costs because they are essential for the wellness of your child.

Let’s break them down:

Insurance Coverage

Insuring the little one with appropriate insurance coverage is an important first step for most parents. Depending on the type of policies you get, it can offer tremendous financial support in times of need.

Getting maternity insurance in Singapore is one of the best ways to protect both the mother and child against health complications. Many of these policies will cover a child up to three years of age and provide comprehensive medical and hospital care benefits during that period.

As a cost reference, premiums for Great Eastern’s Flexi Maternity Plan ranges from S$542 to S$1,516, while Income’s Maternity 360 Plan is between S$370.95 and S$916.10.

Read Also: Best Maternity Insurance in Singapore 2022

Child Immunisation

In Singapore, every child must follow a Childhood Immunisation Schedule from birth to 12-years-old to prevent 12 major diseases namely:

  1. Tuberculosis (TB)
  2. Hepatitis B
  3. Diphtheria
  4. Tetanus
  5. Pertussis (Whooping Cough)
  6. Poliomyelitis (Polio)
  7. Measles
  8. Mumps
  9. Rubella
  10. Pneumococcal Infection
  11. Human Papillomavirus
  12. Influenza

The costs of following through with mandatory post-delivery vaccinations are estimated at:

VaccinationPrice Before GST
5-in-1
(Diphtheria, Tetanus, Pertussis + Inactivated Polio Vaccine + Haemophilus Influenza type B)
S$52.50 to S$105
6-in-1
(Diphtheria, Tetanus, Pertussis + Inactivated Polio Vaccine + Haemophilus Influenza type B + Hep B)
S$120
Hepatitis A Junior (Single)S$66
Hepatitis B (more than 7 years)S$20 to S$70
Influenza
(2 doses for children from 6 months to < 9 years of age who have not previously been vaccinated)
S$26.50 to S$30
Measles, Mumps, RubellaS$20 to S$40
Pneumococcal 13-ValentS$150 to S$274
RotavirusS$95
Varicella (Chickenpox)S$72 to S$90
Source: April International

Note that depending on the clinic or hospital that you consult, the fees may vary.

Baby Equipment

Unfortunately, there is no running away from buying certain baby equipment because they are essential for keeping your child safe and comfortable. And because they are subject to wear and tear, you’ll be wise to select one that is of good quality rather than a cheap variation that you may end up investing more money to replace.

EquipmentEstimated Prices
Baby strollerS$169 to S$2,599
Baby car seatS$99 to S$719
Baby cotS$299 to S$619
Baby monitorS$169 to S$415
Prices aggregated from Mothercare

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Childcare Services

Unless you or your spouse is a full-time homemaker, chances are you’ll need plenty of help to look after your child. If you’re seeking external help, be prepared to pay anything between S$300 and over S$2,000 per month.

Here are some childcare options and their estimated costs:

Childcare OptionsMonthly Cost
Part-time babysitterS$300 to S$500
Full-time babysitterS$600 to S$1,400
Premium childcare centreS$1,000 to S$2,500
Anchor childcare operatorS$720 (full-day childcare)
S$1,275 (full-day infant care)
Partner childcare operatorS$760 (full-day childcare)
S$1,330 (full-day infant care)
Prices aggregated from Income

Baby Bonus Scheme in Singapore

Raising a child in Singapore is a financially taxing affair but thanks to the Baby Bonus Scheme, parents like you can enjoy parental benefits to supplement the expenses.

Birth orderBaby Bonus Cash GiftFirst Step GrantMaximum Government Co-Matching
First childS$8,000S$3,000S$3,000
Second childS$8,000S$3,000S$6,000
Third childS$10,000S$3,000S$9,000
Fourth childS$10,000S$3,000S$9,000
Fifth and subsequent childS$10,000S$3,000S$15,000
Information source: Made for Families

The Baby Bonus Scheme comprises the Baby Bonus Cash Gift and a Child Development Account. The Baby Bonus Cash Gift is very straight forward. It is given out in five instalments over 18 months, after your child’s birth.

The Child Development Account (CDA) is slightly more complex and consists of two components - the First Step Grant and Government co-matching of parents’ savings.

The First Step Grant is a S$3,000 deposit that you’ll automatically receive when you open the CDA for your child at DBS/POSB, OCBC or UOB. Your subsequent savings will be co-matched by the Government.

The second component which the Government will co-match parents’ savings allows you to enjoy dollar-for-dollar matching from the Government when you save into your child’s CDA. The maximum co-matching limits are listed above.

The CDA can be extremely useful because the funds can be used for your child up to the age of 12 to offset expenses such as education and medical fees, premiums for MediShield Life or MediSave-approved private integrated plans, purchase of assistive technology devices, eye-related products and services at optical shops and approved healthcare items at pharmacies.

How To Save On Everyday Costs

Don’t let the high costs of bringing up your child overwhelm you. In Singapore, there are many enhanced subsidies that make the process more affordable. For starters, if your child is a Singaporean, he or she is eligible for a basic subsidy of up to S$600 per month for full-day infant care and S$300 per month for full-day childcare.

Families with working mothers holding gross monthly household incomes of S$12,000 or below are also eligible to tap into the Kindergarten Fee Assistance Scheme (KiFAS) to help defray their children's kindergarten fees at any ECDA approved operators.

When it comes to shopping for your child, don’t splurge on expensive clothing, shoes or toys because your little one can grow out of them within months or weeks. Get comfortable with the idea of shopping pre-owned baby items or borrowing from friends or families who have older kids. There is really no shame in letting your child receive a couple of hand-me-downs as long as they are in good condition and serve their purpose.

Another great way to save on kids is to look out for restaurants that offer kids-eat-free deals. Hard Rock Café, Ikea, Sabio By The Sea, Morganfield’s, Pizza Hut, Paulaner Brahaus and Cafe Melba are some popular places that offer free meals for your little one. Be sure to do a little research on their terms and conditions before heading out because the free deals are usually set on specific days or time frames

Conclusion

Raising a child in Singapore may be expensive but no matter the cost, priority should be given to protecting his or her health and wellness right from the point of conception. If you’re a parent or parent-to-be, don’t overlook the importance of maternity insurance. The single premium term insurance not only protects both the mother and baby but also offers you peace of mind if the unexpected happens.

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