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Not many people really know the difference between international health insurance and normal health insurance. So long as you have some form of health insurance, it means you must be adequately protected, right? No, it doesn’t!
International health insurance has some core benefits that would be a pity not to take advantage of if they’re appropriate for your circumstances.
All too often, expats who receive insurance coverage from their employers assume that it is sufficient, only to realise later on that they do not receive certain types of benefits. For instance, health coverage provided by employers may only offer partial or no coverage for your dependents.
Medical treatment in Singapore is very expensive, and costs are rising every day. That makes it even more important for expats to ensure they are adequately covered by the right kind of insurance.
Benefits of international health insurance
Here are some reasons international health insurance is good to have when you are planning to work abroad or if you are living in Singapore as an expat.
- Medical coverage for you and your family in Singapore and elsewhere – You can make claims for medical expenses incurred not just in Singapore, but also, in FWD’s case, at any of the medical facilities in a global network. You also have the flexibility to request any doctor you wish, knowing that your medical costs will be covered.
- Portability – Unlike employer-provided health insurance, international health insurance can often be continued when you move home or to another country.
- Coverage for your family – For expats moving abroad as a family, international health insurance policy can also cover your spouse and kids.
Why don’t more people get international health insurance?
So, if international health insurance offers so many benefits, why aren’t more people getting it when they move to another country?
Other than a lack of awareness, the biggest push factor is typically cost. Simply put, international health insurance tends to be on the pricey side.
In addition, when crossing borders, many people have the perception that insurance bought in one country would be difficult to utilise in another, or fear that the policy might be inflexible and only usable in limited situations.
FWD’s international health insurance is designed to help users overcome these misgivings thanks to its affordability, portability and flexibility.
Why get FWD’s international health insurance?
Here are some benefits FWD’s international health insurance offers which can put to rest the doubts you might have about getting your own coverage.
- Double your coverage for no claim bonus – The longer you go without making a claim, the more you benefit. You enjoy double the annual limit when you go two years without making any hospitalisation claims, making your insurance premiums affordable as the years go by.
- Cashless facility at FWD network hospitals – Don’t worry about having to fork out any cash at hospitals in FWD’s network, as the bill will be automatically settled by FWD.
- Continuation of coverage in your home country – When you eventually head home, your insurance coverage does not cease thanks to the portability of FWD’s international health insurance.
Who is FWD’s international health insurance policy good for?
If one of the following sounds like you, FWD’s international health insurance might be ideal.
- You are an expat living and working or studying in Singapore.
- You are a Singaporean who is planning to live or study abroad and have an existing Integrated Shield Plan which you would like to complement when you are overseas.
We cannot stress enough the importance of making sure you have adequate health insurance coverage. It is unfortunate that many people continue to be underinsured because of fears about costs or difficulty of use and inflexibility.
FWD addresses these concerns with an international health insurance policy that is affordable and easy to buy and use.
Click here to protect yourself with FWD’s international health insurance.
Do you have any questions about international health insurance? Leave them in the comments!