As mentioned in our previous article "An Introduction To International Health Plans", we typically recommend International Health plans for the following two groups:
- Singaporeans who travel frequently
- Foreigners living in Singapore (i.e. Expats)
In this article, we highlight 3 reasons to consider International Health plans should you belong to any of the two groups as stated above.
Help me determine my protection needs
For Singaporeans who travel frequently
#1 Coverage overseas
Unlike MediShield Life and Integrated Shield Plans that only provides coverage in Singapore, International Health plans offers worldwide medical coverage. This may be chosen for a particular country or region thus allowing you to receive comprehensive medical coverage wherever you are in the world.
(See "All About MediShield Life And How It Affects You")
#2 Outpatient coverage (including in Singapore)
While MediShield Life and Integrated Shield plans only cover for hospitalisation and selective outpatient treatment, International Health plans offer the option to add-on outpatient coverage. This includes consultations, diagnostic tests, routine health checks and vaccinations in both Singapore and overseas. Additionally, while MediShield Life does not cover pre and post-hospitalisation expenses, most International Health plans will for up to a specified number of days. Therefore should you wish to supplement your MediShield Life, consider International Health plans.
Coverage for dental and vision are also available as optional add-ons to International Health plans.
(See "I Already Have CPF Life, Do I Still Need Annuities?")
#3 Maternity coverage
An optional add-on for International Health plans, maternity coverage allows you a peace of mind knowing that you are covered while overseas and in Singapore for your pregnancy. While most International Health plans do cover for pregnancy complications, add-on maternity coverage provides enhanced coverage and includes the cost of your delivery and pre and post-natal visits. Your newborn will also be covered for hospitalisation, day-care treatments and birth related conditions.
(See "Transfer Your Wealth To Future Generations With A 3G Plan")
For Foreigners living in Singapore
#1 Enhancing your coverage
As a foreigner living abroad, it is imperative that you look into getting sufficient health insurance. This will allow you to receive coverage in the event of any medical emergencies.
If you are here as an expat, you will likely receive some levels of health coverage from your company. However, these coverage levels may be insufficient with sub-limits imposed on each category. An International Health plan may therefore offer a peace of mind by enhancing your coverage levels with no co-insurance necessary.
Optional add-on covers are also available such as those for outpatient treatment, optical and vision and maternity coverage.
(See "Best Cancer Insurance Singapore 2019")
#2 Portable plans
Your international health plan is portable, thus allowing you to bring your health insurance plan back to your home country or any country that you may move to next. This makes International Health plans flexible and convenient as you would not need to subject yourself to the whole process of medical underwriting and researching on health insurance again.
(See "Is An Annual Travel Insurance Worth Purchasing?")
#3 Coverage for your family
As an expat, you will receive coverage under your company's health insurance benefits. However, your family may not receive such coverage. Your options to get health insurance for your family in Singapore are therefore limited to: Integrated Shield plan or International Health plan.
Case study: Age 42 non-smoker foreigner male for private ward hospitalisation coverage.
Integrated Shield Plan |
International Health plan ($1 million cover) |
|
Area of coverage |
Singapore only |
ASEAN* |
Price before discounts |
$1,083 |
$1,032 |
*Area of coverage can be chosen for ASEAN, Asia, Worldwide excluding USA and Worldwide including USA.
Note: Prices shown are before discounts and are accurate as of 26 May 2020. Changes are subjected to the insurer's discretion.
However, with the prices of both plans comparable, you may wish to consider International Health for its flexibility. This will allow you to customise your plan, adjust benefit levels and determine the region of coverage. Additionally, International Health plans also provides coverage out of Singapore and are portable thus providing greater flexibility should you relocate to another country or wish to seek medical treatment abroad.
(See "Can You Really Afford To Not Have Critical Illness Coverage?")
*Exclusive Promotion: Enjoy preferential rates for your FWD International Health (IH) plan with promo code "IFAST". Purchase can be made on FWD's website.
Note: Information is accurate as of 29 March 2021 with changes subjected to insurer's discretion.
Available Products on FSMOne Insurance |
Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment from Etiqa Insurance, Manulife, NTUC Income and Tokio Marine Life Insurance *Please check with our advisory team if the product you want is available on FSMOne Insurance |
Interested to learn more? Check out these articles:
The Ultimate Travel Insurance Guide (2019 Edition)
Are Riders The Cheaper Alternative To Critical Illness Insurance?