Insurance

[Sunnybreeze]

Hi, I'm a Canadian expat, not use to buying insurance. I've realised a lot of Singaporeans have a lot of insurance and have heard it is a good place to buy some insurance.

I would be interested in critical illness insurance and long term insurance-investments. Does it make sense for me to buy these in Singapore (if I do have the intention of moving back to Canada in the next few years)?

Thanks

[crixilver]

Hi Sunnybreeze

You've rightly pointed out that Singapore is a good place to buy insurance as the companies are stable and strong, and highly regulated by the Monetary Authority of Singapore.

It is important to be protected wherever you are in the world. The considerations for buying long term insurance/investments in Singapore usually would be whether you are comfortable with handling the administrative details from overseas, should you return to Canada. Eg. premiums payment, claims processing, etc. Most insurance companies/products are international, but you do have to check the terms and conditions regardless.