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Health Insurance and Life Insurance

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pandaman
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Health Insurance and Life Insurance

Post by pandaman » Tue, 04 Apr 2006 10:09 pm

I am coming to Singapore. How much will I spend on health insurance and life insurance for me and my family in a year? Thanks

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Strong Eagle
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Post by Strong Eagle » Tue, 04 Apr 2006 10:20 pm

Depends on what you want. Where are you coming from? Will you be traveling in APAC countries. Do you want to be repatriated in the event of really serious disease like cancer for treatment in your own country? Do you want paid for out patient care? Answer a few of those and the costs and alternatives become much clearer.

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micknlea
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Post by micknlea » Tue, 04 Apr 2006 10:31 pm

Your question has me a little curious. Health insurance I can understand you asking, but life insurance? Does this mean you are thinking only of taking it out once you get here or are you giving up what you have at home and taking out new policies? Neither sounds quite right to me. If you have existing life insurance just keep it going, you should be able to do that, talk to your current insurer. If you are thinking of taking out policies and you never had cover before then there are plenty here to pick from and the range of prices to go with the range of products.

Health insurance is another matter, and depending on where you are coming from you may be able to bring 'portable' insurance or you may have to take some out here. There are numerous companies offering cover and they are all pretty similar.
"My husband said it was him or the cat...I miss him sometimes." - Unknown

pandaman
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Post by pandaman » Wed, 05 Apr 2006 1:29 am

My wife got a faculty job in singapore. She is a fresh Ph.D from a top U.S. University. School's health insurance is not comprehensive enough. It seems that the school won't pay for private insurance. Should we negotiate them and ask for increase of salary. Her annual salary is S$82000 plus subsidize housing and children's education allowance. Is it a good pay? Many faculty memebers buy private insurance. We just wonder how much we will spend on health insurance for a family (couples+1children) for a local one or global one?

U.S. school also offers basic life insurance to faculty memebers but singapore not. Is it necessary to buy life insurance in singapore? How much usually is it in singapore?

Thanks

pandaman
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Post by pandaman » Wed, 05 Apr 2006 2:01 am

or could anyone tell me how much you pay for a health insurance and life insurance in singapore?

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Post by Matney » Wed, 05 Apr 2006 4:13 am

Hospitalization only, with cover for when we travel to foreign countries for 3 people--myself and 2 teens,husbnd is covered through his employment came to about $2500. Insurance to cover basic stuff is difficult to locate and when I was looking quite expensive. I haven't looked into Life insurance, so therefore I can't help there. i'm not aware of employers offering that, but I'm usually wrong.

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Mary Hatch Bailey
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Post by Mary Hatch Bailey » Wed, 05 Apr 2006 7:06 am

Matney wrote:Hospitalization only, with cover for when we travel to foreign countries for 3 people--myself and 2 teens,husbnd is covered through his employment came to about $2500. Insurance to cover basic stuff is difficult to locate and when I was looking quite expensive. I haven't looked into Life insurance, so therefore I can't help there. i'm not aware of employers offering that, but I'm usually wrong.
We recently had BUPA. Essentially the same as Matney's but for one more child and one more adult. A whopping $3,500 per year. Just as a matter of reference, Mr. Bailey was in a head-on collision with a bus on his bicycle a few years ago. His injuries included a broken neck, thumb, collar bone and ribs. All told, for the:

ambulance
emergency room consult
CAT scans
MRIs
7 nights hospital stay, private room
surgery to reattach thumb
surgery to remove pins
consults with orthopedists, neurologists
neck brace
figure 8 brace

$2,500 at NUH. The cost to replace his bike was twice as much. At least in Singapore the insurance is disproportionately high, but the medical costs are very low. In the US both are ridiculously expensive.

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Strong Eagle
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Post by Strong Eagle » Wed, 05 Apr 2006 10:13 am

pandaman wrote:or could anyone tell me how much you pay for a health insurance and life insurance in singapore?
I have a full expat policy that costs me about $2300 US (age 56... a lot cheaper if you are younger). This policy covers all major medical expenses except for outpatient clinic services with a $500 deductible.

I travel a lot so I am covered for repatriation to major hospital in Singapore or Hong Kong in the event I am sick or injured where there are poor medical facilities. I am also guaranteed to be returned to the US for treatment of major diseases.

Since you are from the US you will no doubt be returning from time to time. Most local policies will not cover medical expenses in the US because of the high cost. My expat policy does cover expenses if sick or injured in the US.

It is a complex subject. Drop me an email (preferred - [email protected]) or a PM if you want more details and a pointer as to where to buy insurance. I don't sell it... just had experience in buying it.

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k1w1
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Post by k1w1 » Wed, 05 Apr 2006 8:59 pm

pandaman wrote:My wife got a faculty job in singapore. She is a fresh Ph.D from a top U.S. University. School's health insurance is not comprehensive enough. It seems that the school won't pay for private insurance. Should we negotiate them and ask for increase of salary. Her annual salary is S$82000 plus subsidize housing and children's education allowance. Is it a good pay? Many faculty memebers buy private insurance. We just wonder how much we will spend on health insurance for a family (couples+1children) for a local one or global one?

U.S. school also offers basic life insurance to faculty memebers but singapore not. Is it necessary to buy life insurance in singapore? How much usually is it in singapore?

Thanks
I would ask your wife's employer if you could just pay the difference for a more comprehensive coverage - that might be cheaper and a lot less hassle than having two policies etc. I think that's a very realistic request and one that we opted for given similar circumstances. My employer had no problem with this at all.

Otherwise, NTUC have very cheap policies but are local only.

pandaman
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Post by pandaman » Thu, 06 Apr 2006 12:25 am

One more question. My wife want to go back to U.S. to give a birth to a child. So she needs a global health insurance, right? Are there such health insurance in singapore which can cover all the medical expensed in U.S.? Or should I buy another one in U.S.? Thanks

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Strong Eagle
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Post by Strong Eagle » Thu, 06 Apr 2006 6:49 am

pandaman wrote:One more question. My wife want to go back to U.S. to give a birth to a child. So she needs a global health insurance, right? Are there such health insurance in singapore which can cover all the medical expensed in U.S.? Or should I buy another one in U.S.? Thanks
Mulitple firms sell 'global' or expat policies. Some are online, some are here.

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