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The best travel insurance plans for various family needs in Singapore

Travelling from one place to another does come with its fair share of uncertainties. It is for this reason that people purchase insurance covers to shield themselves from unexpected costs or losses that might arise.

Travel insurance is thus a cover that seeks to reduce the risks associated with unexpected events while travelling. When it comes to pricing, travel insurance is super competitive in Singapore.

While the same is good news for consumers, going for an affordable cover is not always the bright call. Doing research is of utmost importance when choosing a travel insurance cover. Below is a brief preview of some of the best travel insurance cover depending on family needs

The Cheapest Travel Insurance

While travelling around the island nation, going for cheap travel insurance may cut it. It is especially the case when one feels nothing weird is going to happen thus no need to overspend on insurance.

The three cheapest travel insurance covers in Singapore are Etiqa Travel Insurance as well as FWD Travel Insurance and Aviva Travel Insurance. In the case of Etiqa Travel, one can purchase primary travel insurance for $36.5, covering one week of travel in ASEAN. Under the same plan, it would cost $40.50 a week while travelling around Asia.

FWD Travel insurance charges $25 for a one week of travel in ASEAN and $27 while travelling around Asia. For worldwide travel, one would have to ensure for $42, covering one week. Aviva Travel Insurance charges $24.16 for one week of coverage around ASEAN and $30.53 around Asia.

While cost may be of great importance, one also ought to look at other things such as Medical and insurance coverage. If one is travelling to remote areas, it is essential to go with a plan that offers coverage for emergency evacuation.


The Best Travel Insurance for Medical Coverage

Ideal travel insurance is one that comes with basic medical coverage of more than $200,000. Such an amount would be sufficient to cover any unexpected medical expenses while travelling around Asia. However, while moving to Europe and the U.S, going for a plan with higher limits would be the right call.

Amex Travel Insurance is one of the best travel insurance when it comes to medical coverage. With a medical coverage limit of $500,000, one can travel without having to worry about medical expenses. The cover does not come with any limits thus ideal for people who are adventurous and engage in extreme sports.

Allianz Travel Insurance is ideal travel insurance given that it comes with medical coverage of $400,000. Under the policy, each child in the family is covered up to $200,000. Family members above 70 years are covered up to $100,000. The plan also comes with a daily hospital allowance of $12,500. Emergency medical evacuation of up to $500,000 is also on offer.

UOB Travel Insurance is another ideal travel insurance cover as it comes with a medical coverage up to $300,000.


The Best Travel Insurance for Expensive Travels

For those looking to spend a fortune while travelling then there is also a variety of travel insurance covers to accompany the same. The best travel insurance for expensive trips are ones that come with higher payouts for things like trip cancellation. Such policies should also offer coverage for lost or damaged baggage.

Allianz Travel Insurance fits the bill in this case as it pays $10,000 for trip cancellation as well as $7,000 in case of lost baggage. Every 6 hours of delay, the insured is also entitled to $100. Delayed baggage, on the other hand, allows one to $200 every 6 hours. The policy also comes with personal protection of up to $35,000.

UOB travel insurance, on the other hand, offers $10,000 on every trip cancellation as well as $3,000 on any lost baggage. In the case of travel delay, one is entitled to $100 every 6 hours. Baggage delay, on the other hand, allows one to $200 every 6 hours. The policy also covers medical expenses up to $300,000 while one is overseas.

Travel insurance is essential because not everything goes as planned while travelling. If the inevitable were to happen, then such a cover would kick in and shield one from unnecessary expenditures.


*The advice offered in this column is intended for informational purposes only and not intended to replace or substitute for any professional, financial, legal, or other professional advice. If you have specific concerns or a situation in which you require professional help, you should consult with an appropriately trained and qualified adviser.

Joshua Foo

Financial Services Consultant

Joshua Foo joined Pana Harrison in 2019 after taking a break from the Life Insurance industry for 18 years. He joined the Insurance industry back in 1991 and decided that his passion still lies with helping individuals in their Financial Planning needs.

A dedicated individual who is sincere in listening to his clients and provides quality advise and solutions to cater to each needs.