How being ‘kiasu’ helped me protect my family

While some may call 40-year-old Nicolette ‘kiasu’ (afraid to lose out) for arming her family with a variety of insurance, she and her husband think otherwise. As a mother of 3 young children, Nicolette believes that going the extra mile to protect her family holistically is one of the best ways to fulfil her duties as a mother. Here, she shares why.

Shortly after getting married in 2012, my husband and I welcomed 2 new additions to the family – our daughter and son. Back then, we had also moved into our new house and bought for ourselves a car.

With these big-ticket expenses (including our extravagant wedding celebration) and two more mouths to feed, it’s no surprise that our finances depleted quickly. But regardless of our financial status, we always made sure that our family was safeguarded against any unexpected costs.

The right kind of ‘kiasu’

Some people may think that I’m “kiasu” (afraid to lose out) for insisting that my family is insured for almost everything from medical insurance to life coverage, but I don’t think that being “kiasu” is necessarily a bad thing – especially where my family’s well-being is concerned.

I came to this realisation a month after the birth of my second child as he had to undergo a day surgery. At that time, I thought that insurance was something that could wait and ended up regretting not getting it sooner. Since then, my husband and I have agreed that the one thing we would never skimp on would be insurance.

As a mother, I firmly believe in keeping my family protected so that we don’t have to be financially or emotionally stressed should any tragedy or accident happen. Likewise, this includes looking out for my family’s future by protecting myself early.

A growing family’s needs

Recently, I gave birth to my third child and became a mother of 3. This time, I made sure that my new-born and I were adequately insured in advance so that I could have peace of mind.

But having a third child meant that my husband and I had to be even more financially secure than before so that we could continue keeping our family safe and well-provided for. For this reason, it took us several years before deciding to have our third child as we wanted to ensure that we had enough savings to cover medical expenses, paediatrician visits, cord-blood banking and insurance coverage for our new family of five, among other living expenses.

With the new addition to our family, we are now considering moving into a larger apartment. Even our property agent is ready to show us a few potential apartments.  However, the one thing holding us back is whether we can finance a new mortgage.

Our biggest concern is that this would definitely put a strain on our finances as we would also have to amp up our insurance coverage to prepare for any unforeseen circumstances that could affect our ability to finance the loan.

As we mull over this decision, the one thing I remain certain about – now that I’m a new mother of 3 – is ensuring that my family continues to stay well-protected, even if that means being ‘kiasu’ enough to cover all grounds.

Regards,

Nicolette

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