Singapore Expats

Term Life Insurance for Expats and Foreigners?

Discuss the different insurance options from car to health insurance.
Post Reply
missyqiqi
Regular
Regular
Posts: 71
Joined: Tue, 18 Mar 2008 6:11 pm
Location: Singapore

Term Life Insurance for Expats and Foreigners?

Post by missyqiqi » Fri, 16 Dec 2016 12:01 pm

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
Regular
Regular
Posts: 71
Joined: Tue, 18 Mar 2008 6:11 pm
Location: Singapore

Re: Term Life Insurance for Expats and Foreigners?

Post by missyqiqi » Fri, 16 Dec 2016 12:01 pm

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

User avatar
Strong Eagle
Moderator
Moderator
Posts: 11617
Joined: Sat, 10 Jul 2004 12:13 am
Answers: 9
Location: Off The Red Dot
Contact:

Re: Term Life Insurance for Expats and Foreigners?

Post by Strong Eagle » Fri, 16 Dec 2016 12:32 pm

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

ComingSoon
Regular
Regular
Posts: 66
Joined: Tue, 03 Jul 2012 12:02 pm

Re: Term Life Insurance for Expats and Foreigners?

Post by ComingSoon » Sat, 17 Dec 2016 4:59 pm

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

SamG
Newbie
Newbie
Posts: 7
Joined: Tue, 16 May 2017 10:03 pm

Re: Term Life Insurance for Expats and Foreigners?

Post by SamG » Tue, 16 May 2017 10:26 pm

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
Regular
Regular
Posts: 125
Joined: Fri, 09 Oct 2015 12:32 pm

Re: Term Life Insurance for Expats and Foreigners?

Post by archcherub » Mon, 06 May 2019 11:26 am

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
Newbie
Newbie
Posts: 17
Joined: Fri, 17 May 2019 1:04 am

Re: Term Life Insurance for Expats and Foreigners?

Post by 3carlos » Fri, 17 May 2019 1:10 am

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.

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Insurance”

Who is online

Users browsing this forum: No registered users and 15 guests