The ultimate guide for parents: Insurance and financial planning for your baby

Congratulations on the arrival of your little one! At Van Loon, we understand that the birth of a child involves a period of joy and happiness. At the same time, it is important to arrange some important matters in the field of insurance and financial planning. With the help of this checklist, we'll make sure you take the necessary steps to secure your child's financial future.

Step 1: Insure - Ensure full coverage

We therefore recommend that you review your insurances in time so that you can enjoy this new phase carefree. Below you can read a few important points.
‍

Health insurance:

Make sure that the health insurance provides immediate coverage for the baby from birth. Check if your child is automatically added to your health insurance or if you need to register them separately. Contact your advisor for the procedure and make sure you provide all necessary documents.

‍

Liability insurance:

Consider taking out liability insurance to protect yourself against unforeseen costs related to accidents and damage to other people's property.

‍

Term insurance:

If you don't have life insurance yet, it's wise to take it out, especially if you're the main breadwinner. Term life insurance ensures that your family remains financially protected if anything happens to you.

‍

Tip: Send a birth announcement to your advisor so that your insurances can be reviewed and your child can be included in the appropriate coverage.

‍

Step 2: Financial Planning - Prepare for the Future

Financial planning is essential for your child's arrival. Here are some key points to consider:

‍

Child benefit and allowances:

Request child support and find out about any other benefits or financial support programs you may be entitled to.

‍

Savings and investment plan:

Think about setting up a savings and investment plan for your child's future, such as opening a savings account or a specific education or study account. This can help provide financial stability as your child gets older.

‍

Financial advice:

Consult a financial advisor to help you plan your financial future, both in the short and long term. An advisor can guide you with matters such as investments, wealth accumulation and retirement planning.

‍

By making these preparations before your baby arrives, you can ensure that you are well prepared and can make a smooth transition to parenthood. At Van Loon, our advisors are here to help you at every step of this important process. Contact us today to make an appointment and ensure a financially secure future for you and your child.

‍