Do Singaporeans Really Need Travel Insurance?

Travel insurance is one of those things you hope never to use — but when you do need it, it can save you thousands of dollars. For Singapore travellers, the case is clearer than many people realise.

MediShield Life stops at the border MediShield Life and most local Integrated Shield Plans are designed for treatment in Singapore. They give little or no cover for medical treatment you receive overseas. That means if you are hospitalised in Japan, the United States or even just across the border in Malaysia, you are usually paying out of pocket unless you have travel insurance.

The costs travel insurance protects you from A good travel insurance plan is about far more than a cancelled flight. It typically covers: - Overseas medical treatment and hospitalisation - Emergency medical evacuation back to Singapore - Trip cancellation and curtailment if you fall ill or something happens at home - Travel delays, missed connections and rebooking costs - Lost, stolen or delayed baggage and travel documents

How much cover do you actually need? The single most important number is your overseas medical limit. For nearby destinations in Asia, a limit of a few hundred thousand dollars is usually enough. For the United States, Canada or Europe, look for at least S$500,000 to S$1,000,000 in medical cover, because hospital bills in those countries are extremely high.

The bottom line For the price of a nice meal, a single-trip plan removes the biggest financial risks of travelling. If you travel three or more times a year, an annual plan is usually better value. Not sure what is right for your trip? Message us on WhatsApp and we will compare plans from MAS-licensed insurers for you — free and with no obligation.