It’s the holiday season again! Planning to travel to that dream destination while feeling secure? We’ve got you covered with this comprehensive comparison of travel insurance plans available in Singapore.
Below, we provide you with our very own ratings of the various insurers and break down the details; as well as give you a very useful insurance claiming tip.
Coverage Comparison
| Overseas Medical Expenses | Medical Expenses in Singapore | Travel Inconvenience & Disruptions | Excess Car Rental | Affordability | |
|---|---|---|---|---|---|
| NTUC Income Standard Plan | ***** | **** | **** | ***** | **** |
| FWD | **** | *** | ***** | *** | ***** |
| MSIG TravelEasy | ***** | ***** | **** | **** | *** |
| AXA Wanderlust | *** | *** | *** | *** | *** |
| AIG | *** | *** | *** | *** | **** |
Bonus Points
NTUC Income and MSIG: Both offer insurance plans covering extra expenses due to pre-existing medical conditions.
AXA: Customisable insurance plans that allow you to choose the add-ons you need the most.
AIG: Earn KrisFlyer Miles as you travel with any purchase of their Travel Guard Direct insurance plans.
Price Comparison
To get insured for a seven-day trip to Malaysia, you’ll need to pay:
| NTUC Income Standard Plans: | S$22.80 - S$45 (usual price S$38-S$75), depending on the plan. |
| FWD: | S$25 - S$44, depending on the plan |
| MSIG TravelEasy: | S$20.80 - S$39.20 (usual price S$52 - S$98), depending on the plan |
| AXA Wanderlust Travel Insurance: | S$18.66 - S$57.40 (usual price S$29.66 - S$82), depending on the plan |
| AIG: | S$27 - S$77, depending on the plan |
Our Verdict
- For the price-sensitive and digital savvy who want the essentials covered, try FWD.
- Want better medical expense coverage? Go for MSIG and NTUC Income.
- Hope to have a peace of mind while driving overseas? Consider NTUC Income’s Standard or MSIG’s Elite and Premier plans.
- Are you a KrisFlyer member? Consider AIG.
- Want the freedom to customise your own insurance plan? Try AXA.
Tip
- Make sure you hold onto the receipts of expensive items that you plan to bring along during your trip, so that they can be claimable in the unfortunate case of a loss.
1. NTUC Income Travel Insurance
NTUC offers two travel insurance plans to suit the diverse needs of different types of travelers: Standard Plans and Enhanced PreX Plans.
Both plans are intended for individuals under 70 years old. From financial losses due to trip delay and damage of personal belongings to unfortunate event of an accident, the Standard Plans cover almost every concern a regular traveler may have. In comparison, the Enhanced PreX Plans provides additional coverage for possible injuries resulting from pre-existing medical conditions.
Standard Plans
Depending on the maximum benefits redeemable, three types of Standard Plans are available: Classic, Deluxe and Preferred.
Under the Classic plan, an adult is eligible for a compensation of maximum S$100 to S$5,000 for travel inconveniences encountered, depending on the type of inconvenience. The maximum compensation amount under the Deluxe and Preferred plans can be double or triple that under the Classic plan.
Other than travel inconvenience, Standard Plans also provide coverage for personal accident and medical expenses, as well as the unlikely incidents of kidnap and terrorism.
As of the time of writing, the Classic plan costs S$22.80 per adult and S$11.40 per child for a seven-day trip to Malaysia, and S$47.40 per adult and S$23.70 per child to France.
Enhanced PreX Plans
If you are concerned about incurring unforeseen medical expenses during travelling due to pre-existing medical conditions, NTUC Income’s Enhanced PreX Plans may be what you need for a worry-free overseas adventure.
Common medical conditions like asthma, eczema, heart conditions, stroke, hypertension and diabetes are covered under Enhanced PreX Plans.
Similar to Standard Plans, three types of Enhanced PreX Plans are available with maximum claim limits ranging from low to high: Enhanced PreX Basic, Enhanced PreX Superior and Enhanced PreX Prestige. You could either opt for individual plans or a family plan that gets you, your spouse and children covered.
Enhanced PreX Basic coverage for a seven-day trip to Malaysia costs around S$81 for an adult and S$40.50 for a child. The same plan costs S$138 per adult and S$69 per child for a seven-day trip to France.
Promotions
Enjoy 20% off premiums when you purchase any Standard Classic, Deluxe and Preferred Yearly plan from 15 November 2019 onward.
2. FWD Travel Insurance
Under FWD, you can choose from either single or annual trip insurance for just yourself, or as a couple, family or group. As of the time of writing, a single trip insurance plan for traveling within Southeast Asia for seven days costs about S$25 per person. Discounts are available, however, for groups of six and above, from a quick search on FWD’s quotation page.
Highlights of FWD’s travel insurance include its unlimited emergency medical evacuation coverage, sports equipment coverage and haze delay coverage, according to its website. You may also like its click-to-claim feature if you’ve had enough of filling up long forms.
Broadly speaking, FWD’s insurance plans cover travel disruption and inconvenience, medical expenses and other benefits, similar to items covered under NTUC Income’s Standard Plans. Here’s a brief comparison of FWD’s Premium and Business plans to NTUC Income’s Classic and Deluxe Plans.
Travel Disruption
FWD Premium and Business Plans:
NTUC Income Standard Classic and Deluxe:
Overseas Medical Expenses
FWD Premium and Business Plans:
NTUC Income Standard Classic and Deluxe Plans:
Car Rental Excess
FWD Premium and Business Plans:
NTUC Income Standard Classic and Deluxe Plans:
Overall, FWD provides better compensation for trip cancellation, while NTUC Income has better coverage for medical expenses and excess car rental. Both have similar coverage for loss and damage of personal belongings. Uniquely covered under FWD, the reimbursement for fraudulent usage of a personal credit card is capped at S$300 per insured person under its premium plan.
Promotion
Try using the promo code TRAVEL25 when making your purchase! With the code applied, the cost of a single trip premium insurance plan for seven days’ travel to a Southeast Asian destination reduced from S$25 to S$18.75.
3. MSIG Travel Insurance
A leading general insurance company headquartered in Tokyo, MSIG has been present in Singapore for over 100 years. It provides three types of travel insurance: TravelEasy, TravelEasy Pre-Ex and Global Study.
MSIG TravelEasy
MSIG’s TravelEasy plan is rather similar to NTUC Income’s Standard Plan. It too offers three different sub-plans with maximum reimbursement ranging from low to high: Standard, Elite and Premier. As of the time of writing, the premium for a single seven day trip to Malaysia is charged at S$20.80 (usual price S$52) under Standard, S$28 (usual price S$70) under Elite, and S$39.20 (usual price S$98) under the Premier Plan.
Despite the higher premium, the maximum coverage limit offered under MSIG TravelEasy is similar to that of NTUC Income’s Standard Plans and FWD’s. Just like FWD, MSIG TravelEasy’s cheapest Standard Plan does not cover excess vehicle rental, but this is covered under NTUC Income’s cheapest Standard Classic Plan.
However, compared to NTUC Income’s Standard Plans and FWD, MSIG has better coverage for medical expenses in Singapore.
Below we present some of the coverage under MSIG TravelEasy for your reference.
Travel Inconvenience
Medical Expenses
TravelEasy Pre-Ex
Worried about extra expenses due to existing medical conditions? You can get covered with MSIG’s TravelEasy Pre-Ex plan. It applied to many types of pre-existing medical conditions from asthma to cancer or heart conditions, as long as your illness is stable and under control. Apart from the comprehensive coverage, there is no upper age limit under the TravelEasy Pre-Ex plan, which makes it a perfect choice for the elderly.
4. AXA Travel Insurance
Three plans are offered under AXA’s Wanderlust Travel Insurance: LIte, Easy and Pro. As of the time of writing, the single trip plan for a seven day trip to Malaysia costs S$18.66 (usual price S$26.66) under Lite, S$50.46 (usual price S$72.08) under Easy and S$57.4 (usual price S$82) under Pro.
Although AXA’s coverage for the essentials does not seem as competitive as those by NTUC Income, FWD and MSIG, for the more adventurous traveller, its adventure coverage could be a huge plus point.
Ever dreamed of bungee jumping or hiking up to 3,500 metres above sea level? Now you may get covered under AXA’s Wanderlust Travel Insurance Pro Plan. Other covered activities include parachuting, sky-diving, hang-gliding, and snow sports within approved areas of the ski resort.
In addition, you can further customise your preferred plan by selecting add-ons addressing your biggest concerns, including your sports equipment, rental vehicle excess or overseas wedding photoshoot.
5. AIG Travel Insurance
Four plans are available under AIG Travel Guard Direct: Basic, Standard, Enhanced and Supreme, with premiums costing S$27 to S$77 per person for a seven-day trip to Malaysia.
AIG’s coverage is not too different from the other travel insurance companies above. If you are someone more concerned about medical expenses, the benefits provided by AIG may seem less attractive; however, if you are a travel enthusiast and a member of KrisFlyer, it may not be a bad idea to purchase a travel insurance plan with AIG, as you will be entitled to 27 to 77 KrisFlyer Miles depending on the plan you choose.
Are you also a cool golfer or an adventurous skydiver? AIG’s Enhanced and Supreme plans also cover lost sporting equipment, allowing you to have fun without the worry.
Here are some of the items covered under AIG Travel Guard Direct.
Travel Disruption
Medical Expenses
Car Rental Excess
