Expat package - Insurance question

Discuss the different insurance options from car to health insurance.
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misterjetlag
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Expat package - Insurance question

Post by misterjetlag » Tue, 17 Aug 2021 11:13 pm

Hi all, new to the forum and working on my EP application with my current employer relocating me to SG from the UK hopefully this year!

Can anyone share what the usual private insurance costs are for a family of four? My employer proposes S$1600/mo which sounds reasonable - hoping the wiser heads here can provide feedback. Thanks!

senpiiee
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Re: Expat package - Insurance question

Post by senpiiee » Mon, 06 Sep 2021 11:54 am

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malcontent
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Re: Expat package - Insurance question

Post by malcontent » Mon, 06 Sep 2021 12:23 pm

When you search for insurance in Singapore you will get a lot results on Integrated Shield Plans, which are add-ons to MediShield Life, a national plan that only applies to Singapore citizen and permanent residents. These are much cheaper, but do not apply to you. What you’ll need is an international health plan which you can read more about here —

https://www.moneysmart.sg/health-insura ... -insurance
It’s not what happens to you, but how you react to it that matters ~ Epictetus

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iDomo
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Re: Expat package - Insurance question

Post by iDomo » Thu, 11 Nov 2021 12:03 pm

Hi! You are not wrong about the costs. The price is around that area. However, for expats, there are some minor things to take note of as there are many restrictions in place that financial advisors usually won’t tell the prospect. On a brighter note, hope you got your EP application approved! I’m making as many friends as possible to expand my social circle :D
Money May Not Be The Most Important Thing, But It Affects Everything There Is.

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sundaymorningstaple
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Re: Expat package - Insurance question

Post by sundaymorningstaple » Thu, 11 Nov 2021 6:12 pm

iDomo wrote:
Thu, 11 Nov 2021 12:03 pm
Hi! You are not wrong about the costs. The price is around that area. However, for expats, there are some minor things to take note of as there are many restrictions in place that financial advisors usually won’t tell the prospect. On a brighter note, hope you got your EP application approved! I’m making as many friends as possible to expand my social circle :D
iDomo, welcome to the board. A little bit of a friendly warning. Be careful how you post. If your post can be construed to be soliciting it 'will' be deleted and depending, may result in your account being locked as well. We don't allow soliciting as recommending your own employer is NOT a recommendation at all, but a direct solicitation. Recommendations come from satisfied users of a business, not a biased referral from an employee of the company.

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SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

tiktok
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Re: Expat package - Insurance question

Post by tiktok » Thu, 11 Nov 2021 9:38 pm

Was his post edited?
I not troll/wacko/spammer.
Me no expat. Me foreigner.

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iDomo
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Re: Expat package - Insurance question

Post by iDomo » Mon, 15 Nov 2021 3:46 pm

Understood about this guys. Thanks for the friendly warning. It’s my first time coming onto forums and what I wanted to say may be easily interpreted wrongly. I apologise for that. But really here to just expand my social circle though 😅
Money May Not Be The Most Important Thing, But It Affects Everything There Is.

Hazeyyeo
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Re: Expat package - Insurance question

Post by Hazeyyeo » Sat, 27 Nov 2021 9:01 am

Hi, I guess you're asking for private insurance above what your employer is providing?

If you're looking for medical insurance from a local insurer in Singapore, depending on your family members age, you could be looking at much lesser like S$500-900/month for a family of 4 (for hospitalisation only).

If you're looking for medical insurance from an international insurer in Singapore, you will be looking at 2-3x more in costs (for hospitalisation only), and depending if you want to add other coverages like maternity, outpatient, dental, vision, health-screening etc (it could be 3-5x more than local insurers). And it often covers worldwide excluding US.

Most local insurers only cover hospitalisation & medical necessary procedures, no options for maternity/outpatient/dental/vision/health-screening & it generally does not cover hospitalisation that involves those areas (with some exceptions).

In conclusion, they are not one better than the other, it all depends on your expectations, what your employer already provides, and your family's health status for eligibility to apply for private medical insurance.

Hope it helps!
If I've helped you, pay it forward & help someone else who needs your help.

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