Life Insurance

Having cover through your work is always a positive asset, however we recommend it is viewed as a bonus, and not overly relied upon. The reason for this is in the event that you lose your job, or choose to leave the company, your Life Insurance protection will be lost, thus leaving you and your family uninsured against the unexpected.  At Expat Insurance, we recommend that you purchase an additional plan to run alongside your employer’s coverage because it’s better to be safe than sorry when it comes to your family’s future protection. 
 
 

As a minimum, you should consider term life insurance. In the event that you die or become critically ill during your policy’s cover, your family will receive a lump to maintain life as it were before you were unable to financially support them.  The premiums for life insurance are very cost effective, especially the younger you are. 
 
 

When you don’t have any dependents you are likely to have fewer concerns. However, as the premiums on life insurance are linked to your age and stay the same over the duration of the policy, it can make sense to purchase cover now and benefit from a lower premium in the longer term. Should you start a family in 5 or 10 years’ time, you will already have some cover in place, which would be cheaper than buying insurance 5-10 years down the road.
 
You may also want to consider purchasing a whole life policy while you are young as premiums will be lower, and this can also double up as a handy savings tool for later years.
 
 

The amount of Life Insurance you require will depend on your individual circumstances. At Expat Insurance, we help you identify exactly how much you need to avoid you having too little, or too much.
 
 

In truth nobody really wants to think about getting sick or dying, but life is full of unexpected events and protecting your family with Life Insurance is one of the most important financial decisions you can make.
 
Life Insurance is designed to protect your loved ones from the financial impact of your death or illness. Costs such as school fees, mortgage repayments, rent, vehicles, retirement, as well as future college and wedding expenses would be covered. Life Insurance could be the difference between struggling to make ends meet, and your family’s financial security.
 
If you have any dependents, whether that be a baby, a growing family, a spouse that’s not working, or a family member who depends on you for income, Life Insurance provides the financial security your family had before you were unable to provide for them. 
 
 

Travel Insurance

As long as none of your trips exceed 90 days, an annual travel policy allows you to take an unlimited number of trips within a 12 month period.

No, your travel plan will not renew automatically. We are serious about service so you will receive a renewal invitation around 4-8 weeks before your policy expires. During this time we request that you contact your advisor to discuss your renewal options.

Should you have a medical emergency, accident or unexpected illness while travelling, comprehensive policies offer reimbursement for relevant medical expenses, subject to policy limits.

Depending on the policy, most extreme sports are covered, so long as the insured engages in the sport for leisure purposes only. Exclusions typically apply for: racing or if any sponsorship, award, payment or prize is received for the activity.

For annual plans, you are covered for unlimited trips for a maximum number of 90 days per trip. For single-trip plans, the maximum number of days per trip is usually 182. Extensions can be arranged for either plan, if needed.

When calling the 24-hour emergency assistance hotline, please provide the following information:
-Your Name
-Your Policy Number
-Your Current Location
-A description of your condition or symptoms and the nature of assistance you require

Medical Insurance

All three are charges that you must pay out of pocket, even if you have insurance. A Deductible is the initial amount you must pay before your insurer will start to chip in. A co-payment is a flat amount you pay toward each bill and Coinsurance is a fixed percentage, rather than a flat amount, that you pay towards each bill. 

 

Most Domestic insurance policies do not provide coverage out of your home country; health insurance plans limit their coverage to a certain geographic area for example ASEAN, Asia only, and worldwide. If you are traveling abroad, it is recommended that you buy travel insurance to ensure that you are covered for evacuation and repatriation.

A deductible is the amount of money you are required to pay out of pocket before your insurance plan covers the rest of the claim. A deductible of $200 means you must pay the first $200 of the medical bill before your insurance covers the remainder.

Depending on your policy, wait periods can range from 12 to 24 months.

You can choose any doctor that is part of your insurance company’s network. Your doctor can then give you a choice of in-network specialists he or she can refer you to. If you want to be treated by a doctor that is out of network, you may have to pay additional charges. 

 

Yes, but not every insurance company will provide coverage for foreigners with this visa.

The 30 critical illnesses covered are:

- Major Cancers

- Heart Attack

- Stroke

- Coronary Artery By-Pass Surgery

- Kidney Failure

- Aplastic Anaemia

- Blindness (Loss of Sight)

- End Stage Lung Disease

- End Stage Liver Failure

- Coma

- Deafness (Loss of Hearing)

- Heart Valve Surgery

- Loss of Speech

- Major Burns

- Major Organ/Bone Marrow Transplantation

- Multiple Sclerosis

- Muscular Dystrophy

- Parkinson’s Disease

- Surgery to Aorta

- Alzheimer’s Disease/Severe Dementia

- Fulminant Hepatitis

- Motor Neurone Disease

- Primary Pulmonary Hypertension

- Progressive Scleroderma

- HIV Due to Blood Transfusion and Occupationally Acquired HIV

- Benign Brain Tumor

- Encephalitis

- Bacterial Meningitis

- Major Head Trauma

- Angioplasty and Other Invasive Treatment for Coronary Artery

Some medical plans cancel within a certain number of days after you leave Singapore. Other medical insurance covers you on the same policy, with no additional premium until your renewal. The insurer may then invite renewal at a different premium rating depending on your country of residence.

Most comprehensive medical insurance products offer worldwide coverage in the case of accidents or emergencies. The option to choose to undergo treatment outside of Singapore is a unique feature of a select few products in the market. It’s important to know whether you are covered for medical treatment you may seek while outside of Singapore.

Depending on the insurer, the condition and your profile, terms may be offered to extend coverage for certain pre-existing conditions. In this instance, coverage can be extended to cover the condition with the payment of additional premium.

Home Insurance

Yes. Typically, small additional premium ratings are charged for insuring these types of items. It’s important to check your Limits per item to avoid being underinsured in the case of a loss.

This is a common question that often bares a shocking answer, as most insurers offer limited coverage for expensive valuables. Typically, most Home Insurance policies in Singapore exclude unexplained loss or mysterious disappearance. This means that unless you can prove the item was stolen, coverage might not apply. To avoid such uncertainty, make sure your Home Insurance does not have such an exclusion.

To the surprise of many claimants, most insurers do not automatically cover your belongings on a worldwide basis. So, if you lose your watch while abroad, coverage might not apply. It’s important to make sure you choose an insurer who provides worldwide cover.