
SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
Insurance for Work Permit Holder
Insurance for Work Permit Holder
Few months back I was approached by an Insurance Agent and I decided to purchase term insurance for coverage. While processing, the insurance agent highlighted that according to their database, work permit holder is not permitted to buy insurance. Apparently, the big insurance Co like Prudential, AIA and etc, do not extend coverage to work permit holders.
Any forumers here had experienced of such situation before? Would appreciate if you could share the background of such imposition (sadly, the insurance agent got no clue as well or he was being nice not trying to offend me). I believe it should be a mass market for the insurance co, unless it was a mandate from the government.
thanks.
Any forumers here had experienced of such situation before? Would appreciate if you could share the background of such imposition (sadly, the insurance agent got no clue as well or he was being nice not trying to offend me). I believe it should be a mass market for the insurance co, unless it was a mandate from the government.
thanks.
Sorry, but welcome to Singapore. I doubt it is a government mandate, but the insurance companies (and any other BIG company) here basically can make their own rules and it seems that they've decided that its not worth their while to provide insurance to work permit holders (if that is indeed the case - did you contact them directly to ask?).
ps - At home I used to work for an insurance company that specialised in providing life insurance to the mass market and it is a very different ballgame to the other segments, but there the mass market was 20m lives so they considered it worth it.
ps - At home I used to work for an insurance company that specialised in providing life insurance to the mass market and it is a very different ballgame to the other segments, but there the mass market was 20m lives so they considered it worth it.
-
- Newbie
- Posts: 1
- Joined: Fri, 25 Mar 2011 3:59 pm
- sundaymorningstaple
- Moderator
- Posts: 37779
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
This will answer in detail what is required regarding the mandatory insuring of Work Permit holders & FDW's:
http://www.mom.gov.sg/newsroom/Pages/Hi ... ?listid=11
http://www.mom.gov.sg/Documents/service ... 20FAQs.pdf
http://www.mom.gov.sg/newsroom/Pages/Hi ... ?listid=11
http://www.mom.gov.sg/Documents/service ... 20FAQs.pdf
-
- Newbie
- Posts: 13
- Joined: Fri, 30 Dec 2011 12:00 pm
Re: Insurance for Work Permit Holder
Hi there,
I don't see why your application will be rejected for term insurance. May I ask which country are you from?
I don't see why your application will be rejected for term insurance. May I ask which country are you from?
analyst wrote:Few months back I was approached by an Insurance Agent and I decided to purchase term insurance for coverage. While processing, the insurance agent highlighted that according to their database, work permit holder is not permitted to buy insurance. Apparently, the big insurance Co like Prudential, AIA and etc, do not extend coverage to work permit holders.
Any forumers here had experienced of such situation before? Would appreciate if you could share the background of such imposition (sadly, the insurance agent got no clue as well or he was being nice not trying to offend me). I believe it should be a mass market for the insurance co, unless it was a mandate from the government.
thanks.
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Is Marriage Approval for Work Permit Holder Required Prior to PMLA Application
by spxie85 » Sun, 10 Apr 2016 9:23 am » in Relocating, Moving to Singapore - 2 Replies
- 2961 Views
-
Last post by spxie85
Mon, 11 Apr 2016 12:56 am
-
-
-
Advise marrying a work Permit holder
by Geralyn » Mon, 04 Nov 2019 1:35 pm » in PR, Citizenship, Passes & Visas for Foreigners - 6 Replies
- 1350 Views
-
Last post by esivag
Thu, 07 Nov 2019 3:19 pm
-
-
-
Change job for malaysia work permit holder
by Qwerty123456 » Fri, 01 May 2020 11:52 am » in Sports & Recreational Partners & Team - 1 Replies
- 991 Views
-
Last post by Haruki
Tue, 05 May 2020 6:56 pm
-
-
-
Work permit holder marrying a S’porean
by mnhj » Fri, 14 Aug 2020 9:25 pm » in Relocating, Moving to Singapore - 1 Replies
- 653 Views
-
Last post by sundaymorningstaple
Fri, 14 Aug 2020 11:46 pm
-
-
-
Work permit holder pregnant
by Kkrena » Tue, 01 Sep 2020 1:26 am » in PR, Citizenship, Passes & Visas for Foreigners - 8 Replies
- 1066 Views
-
Last post by Kkrena
Wed, 02 Sep 2020 10:19 am
-
Who is online
Users browsing this forum: No registered users and 6 guests