Term Life Insurance for Expats and Foreigners?

[missyqiqi]

Any websites that we can read about stuff for expats and foreigners about term life insurance?
hoping to find more info to read up

[missyqiqi]

oh, health insurance, or fire insurance for home... that would be useful too!
thank u for any referral website =)

[Strong Eagle]

You just made the list for the tic... toc... tic... toc... warnings.

[ComingSoon]

You can check the official comparison site at http://www.comparefirst.sg/

[SamG]

I'm just wondering, does anyone really needs financial planning advice specifically for Expats?

As far as I'm aware, expats who have financial policies in their home countries and doesn't require long term protection could consider say a 5 or 10 year Term policy to protect their financial risk should death, accidents or illness occur.

For wealth accumulation wise, just stick to some short term commitment endowment policies if you have to. Longer term usually offers better rate of returns, hence if you could commit long term even after returning to your home country, you could still stick to it. The payout would be mailed to you where ever you are, just remember to keep your adviser updated on your change of address.

[archcherub]

yeah just buy term life, personal accident, and health.
leave the money building to stocks and ETF i feel.
of course expert money advisors will probably disagree with me

[3carlos]

there are in fact many things for an expat to consider while overseas:

1. An expat's medical cover may be excellent in home country, but not useful in Singapore (e.g. free medical in Russia, but if I have a medical emergency here, I won't want to be forced to rush back before I get treatment)

2. If an expat travels a lot outside home country, then the next port of call after Singapore may not be home - is the medical cover then portable?

3. If I buy a term life that is 5-10 years, it should be because I have liabilities to match in 5-10 years (normally may be longer e.g. kids), not because I am in Singapore for 5-10 years.

4. Other areas of planning may be in tax - how to save on tax

5. Other finance-related matters such as ensuring a diplomatic clause in rental agreements, and not over-committing to rental expense (because International School fees are great, and what if you have 3 kids?)

6. Many expats ignore retirement planning - they may have CPF-like programs in their countries, but since they aren't in their country, it isn't compulsory for them

Expat or local, if you fail to plan, you plan to fail.