Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

Recently, more and more people are interested in emigration to Cambodia. The widespread use of remote earning methods, the ability to rent an apartment in somewhere and leave for a poor country – all this makes Cambodia a potential interest when looking for a tropical location.

Who can get permanent residence in Cambodia?

The Kingdom of Cambodia has loyal conditions for entry and visa processing, but full integration into the country’s social society is rather difficult. Only those foreigners who fully satisfy a number of requirements can apply for permanent residence and Cambodian citizenship:

• reaching the age of majority;
• lack of a criminal record;
• confirmation of a sufficient amount of funds.

Birth in the country does not automatically entail citizenship. Local legislation also prohibits dual citizenship: when receiving a Cambodian passport, one should abandon the original status. It is impossible to obtain a residence permit in Cambodia for a simple reason: there is no such type of immigration in the country.

If a foreign citizen has a long-term visa, he can apply for a resident card. This document serves as an identity document and confirms the legal right of a foreigner to be on the territory of the kingdom.

Obtaining citizenship of Cambodia

There are three legal ways to become a citizen of Cambodia:

• Creating a family with a resident allows you to apply for citizenship 3 years after marriage registration. At the same time, it is imperative to live permanently on the territory of the country.
• Business and investment in the economy, which requires special permission received from the Cambodia Development Council. The minimum investment amount is $ 300,000. Or another option that you may like is to replenish the kingdom’s budget for the purpose of economic development. In this case the minimum contribution will be 250 thousand dollars.
• Naturalization, that can be possible only if you live in Cambodia for at least 5 years and speak Khmer language, know about the history, culture and legislation of the country. You will also need a certificate of no criminal record and a medical examination. But surprisingly, naturalization is not a guaranteed way.

Note that marriage does not guarantee citizenship, especially for men (women who marry Khmers usually do not have problems).

The only reliable way is to register your investments. Admission to a higher education institution in Cambodia makes it easier to obtain citizenship of the kingdom in the future.

Living standards in Cambodia

The Kingdom of Cambodia has been coping with the financial crisis that arose after the civil war for fifty years, during which the central part of the Kingdom, major cities and provinces were destroyed. Therefore, today in the administrative districts there is a real boom in construction, where a lot of money is being invested.

The main investments come from Japan, it is she who sponsors the reconstruction of objects, highways, residential areas, and reproduces the integrity of the infrastructure. Support from China, which invests in public and private business projects, is no less important. Thanks to Asian investors, Cambodia is taking on a new look, but it is too early to talk about dramatic changes.

The standard of living in Cambodia is still low, especially in some areas where poverty is still present, about 13% of Khmers (the main inhabitant) live very poorly. The unemployment rate is the most favorable – for a population of 16 million people, the percentage is low 0.5%. Often, due to the lack of social benefits, people are forced to work until they die.

According to economic data, GDP per capita is $ 3500 per year. The total GDP is $ 55 billion. Light industry and tourism are well developed, 4 million tourists from different parts of the world fly to Cambodian resorts every year.

The downside of the low standard of living of a developing state is cheapness, in Cambodia it is very cheap. Renting out housing or earning income from small businesses, you can live luxuriously. Food, fruits, everyday goods, rental housing, transportation, entertainment – everything is cheap when compared with many other countries. In addition, a year-round vacation on the beach near the sea is an old dream for many. The cost of living in large cities will be $ 300 without renting a house, with rent from $ 490-600 depending on the area, closer to the center the cost is higher. Such parameters make one think about obtaining citizenship for tropical island lovers.

Pros and cons of emigrating to Cambodia

You can really characterize the advantages and disadvantages of emigration to Cambodia if you live there for a while. Foreigners, tired of megacities, are increasingly striving for tropical islands, and the emphasis is on such pros and cons.

The main advantages:

• Hot climate and warm sea. Summer never ends here, there is green jungle everywhere, there is even a favorite beach of Otres. There is everything to enjoy the abundance of the sea, bright sun and tropical fruits.
• Cheapness. If in Phuket, Bali prices have risen, then Cambodia is an excellent option to minimize your expenses. Some freelancers with Thai hospitality want to immigrate here.
• Fresh and inexpensive food. Local cuisine includes rice, meat, seafood, vegetables and fruits. Fresh food is sold everywhere and very inexpensive. In supermarkets you can buy European goods at reasonable prices.
• The benevolence of the Khmers. The local population is smiling, good-natured and sympathetic. Experienced tourists note that Cambodians are not so annoying and spoiled by tourism.

The main disadvantages:

If you still decide to change your citizenship to Cambodian, do not forget to study the following disadvantages:

• Bad roads . The civil war left a huge imprint on Cambodia, destroyed buildings, highways. In some places, there are no roads at all, they run through the jungle, sometimes you have to drive through the mud.
• Insects . The proximity to the jungle has a big disadvantage, because of this, many dangerous insects and snakes live among the settlements. The most difficult thing is to drive out ants from the house, which everywhere feel like full-fledged pets.
• The language barrier . For full naturalization, you will need to learn the Khmer language. It is unlikely that it will be possible to have a heart-to-heart talk with a local, in principle, as in the whole of Southeast Asia. But there are many places where basic English comes in handy.
• Lazy nation. For another couple of decades, local residents did not know any civilization and were content with little. Today they are considered backward in many ways, and it will take a lot of time to teach them something. Because of this, the quality of service suffers.

Anyways many people decide to move to Cambodia, to start a fully new life there, get a work, or start a business. But anyways, in a foreign country you may need insurance services to be confident in every life phase. Either you need a medical or health insurance or car insurance, these are the basic things every person should have, especially in a new environment. Later in this article we will talk about one of the popular insurance companies in Cambodia called Forte Insurance.

Forte Insurance

Forte Insurance provides extremely comprehensive and effective insurance services, while ensuring the continuous growth and further development of the Kingdom’s insurance market.

The company’s unrivaled experience has allowed us to build a solid reputation for honesty and decency. Recognizing our strengths and services provided, Forte is today the leading underwriting service provider in Cambodia.

The company opened its underwriting and brokerage insurance agency in Phnom Penh in 1996, becoming one of the first insurers established in Cambodia. By 1998, it had opened purpose-built offices in the heart of Cambodia’s vibrant capital. With the support of the largest regional and global reinsurers, the company and the team have set themselves the task of providing reliable and comprehensive insurance throughout Cambodia.

Forte is today the largest, leading and most recognized insurer in the Kingdom. But they don’t stop there until Cambodia as a whole realizes the importance of insurance. They anticipate exciting times for our customers, industry and Cambodia.

Starting with an initial team of 20, Forte today includes a large, ever-expanding and diverse pool of talent. It is constantly involved in programs to develop and rethink its professional capabilities, including being the only insurance company in Cambodia to offer higher level certification training (AMII and ACII) that meets internationally recognized insurance standards.

They believe in a diverse work environment and a strong culture of inclusiveness that allows the employees to reach their full potential. Their unique outlook and experience are critical to continued success.

However, among other things, the employees are reliable, honest and efficient. Their knowledge and experience allow the stuff to constantly grow and offer high quality products and services.

A strong sense of corporate social responsibility drives Forte to contribute to society. As an investor, insurer, employer and consumer, the company recognize its responsibility to partner with the communities in which they operate.

They all believe that contributing to the development and growth of these communities is a fundamental part of the success, and they continually provide the support and resources needed to participate and promote social responsibility.

Since its founding in 1999, Forte has organized various corporate social responsibility initiatives, including:

• Collaboration with Japanese non-governmental organization OISCA International to sponsor various green projects and human resource development in agriculture.
• Sending two Cambodians annually to Japan for a one-year agricultural training program.
• Organization of the Children’s Forest program to encourage students to understand the importance of a sustainable environment through tree planting campaigns.
• Initiated a road safety campaign and partnered with the nongovernmental organization JCI Cambodia-Mekong to donate 1,000 helmets to students and motorcyclists.

Forte Insurance services

The company has really a wide range of insurance services in different segments such as aviation insurance, oil and gas insurance, fire insurance, traveler’s trip insurance, loss of profit insurance, marine cargo insurance, property all risks insurance and other insurance types that are not that common in insurance companies. This is what makes Forte popular in many countries and regions.

Individual Insurance

Under this sector Forte included several insurance types, here they are:

Individuals & Families

Individual and family health insurance are two similar types of health insurance plans that can be purchased from health insurance exchanges during the one-year open enrollment period. These policies, also known as private health insurance, can cover individuals and families who are not already covered by another type of health insurance. Compared to other health insurance policies, an individual plan can cost $ 200 more per month, but many people are eligible for subsidies through the government.

Individual health insurance policies are available to individuals who are not currently enrolled in a government program – Medicare or Medicaid, or a work-based policy. The family policy is identical to the individual plan, except that it applies to several people. This often increases deductible, cash caps, and monthly premiums.

To enroll in a family health insurance policy, you must apply and select a policy during the open enrollment period. This happens annually, usually from early November to mid-December, but this can vary depending on the year and your state of residence. If you miss the open enrollment period, you will not be able to purchase or change your health insurance unless you are eligible for the Special Enrollment Period (SEP).

Automobile Insurance

Covering for motorized land vehicles (cars, pickup trucks, vans, trucks and motorcycles). Insurance may include loss or damage to the vehicle itself and this may also include any type of loss, liability or expense that is happening because of the ownership, maintenance or use of any such vehicle.

Insurance also includes medical, hospital and surgical benefits for the wounded, funeral and death benefits to survivors, regardless of legal liability, if incurred while being in, entering, exiting or colliding with a vehicle, if such coverage is provided as part of the liability insurance contract.

There are different types of car insurance for private passenger car insurance, about what you can get information by contacting the Forte company.

Traveler’s insurance

Travel insurance is a plan you purchase that protects you from certain financial risks and losses that you may experience while traveling. This type of losses can be either small, like a delay in a suitcase, or really huge, like trip cancellation or emergency medical care abroad.

Aside from financial protection, another huge benefit of travel insurance is access to assistance services wherever you are. Our elite team of travel and medical experts can arrange for emergency treatment, oversee your treatment, act as translators, help you replace your lost passports, and even save travelers’ lives.

A few things you should know about travel insurance:

• Benefits vary by plan. It’s important to choose a plan that suits your needs, budget, and travel plans.
• Travel insurance cannot cover every possible situation. Forte offers travel insurance against these risks, which means that it only covers certain situations, events and losses specified in your plan documents.
• Travel insurance is designed to cover unforeseen events, not things that you can easily foresee or things under your control. If, for example, you wait to buy insurance for a trip to the beach until the named hurricane approaches its destination, your losses will not be covered.

Medical insurance

Health insurance covers part or all of the cost of treating an illness or injury to the insured person. In some cases, the company pays for preventive care, such as annual medical check-ups and diagnostic tests.

You may have health insurance as an employee benefit from your job or, if you qualify, through the federal government’s programs.

You can also purchase personal health insurance directly from the insurance company or be eligible for it through a plan offered by the group you belong to. As with other insurance contracts, you pay premiums to purchase insurance coverage, and the insurer pays some or all of your medical expenses in accordance with the terms of your contract.

Some types of health insurance require you to meet your annual deductible before the insurer pays. There may also be co-insurance, which is your percentage of each bill, or a surcharge, which is a fixed dollar amount for each visit.

Health insurance varies significantly from plan to plan and from contract to contract. Typically, most plans cover hospitalizations, doctor visits, and other skilled care. Some plans also cover some combination of prescription drugs, rehabilitation, dental care, and innovative treatments or complementary forms of treatment for serious medical conditions.

Fire insurance

The term fire insurance refers to a form of property insurance that covers damage and loss caused by fire. Most policies provide some form of fire protection, but homeowners may have the option to purchase additional coverage in case their property is lost or damaged by a fire. Purchasing additional fire protection helps cover the cost of replacing, repairing, or refurbishing property in excess of the property insurance policy limit.

Homeowner insurance provides policyholders with insurance against loss and / or damage to their homes and property, also called insured property. It is a general term used to describe both the interior and exterior of a home, as well as any assets that are stored on the property itself. Insurance may also cover injuries sustained by someone while on site. If you have a mortgage, there is a very good chance that your lender will not lend you a loan if your property is not covered. Even if this is not a requirement, it is a good idea to protect yourself. You can purchase additional forms of insurance, including fire insurance.

Fire insurance covers the insured against loss or damage caused by fire from a number of sources. These include fires caused by electricity, such as faulty wiring and gas explosions, as well as fires caused by lightning and natural disasters. The policy may also cover a burst or overflow tank or water pipes.

Personal accident insurance

An accident does not knock on the door. This can happen anytime, anywhere and can result in minor to serious injury. Such uncertainty can lead to a financial crisis, so it is advisable to purchase an accident insurance policy. It will provide you and your family with the financial assistance you need in the event of accidental death, personal injury, and disability (partial/permanent/temporary). There are various other benefits such as accidental hospitalization insurance, hospitalization allowance, and medical coverage. You can protect yourself from accident or disability with personal accident insurance.

Figtree Blue Insurance

Figtree Blue International Health Insurance offers expatriates living in Cambodia and Cambodians a wide range of hospital, medical and ancillary benefits available for your employees, your family and you.

Exceptional claims services of Forte Insurance

As a leading insurance company in Cambodia, Forte Insurance is committed to an efficient, fair and prompt settlement of all claims. We offer you the following benefits:

Technical excellence

Our experts are highly experienced in handling all types of claims, ensuring that you receive fast, friendly and high quality claims service 24 hours a day, seven days a week.

Panel garages

Our panel garages provide preferred services, quality repairs and numerous benefits when you have an accident.

Panel hospitals

Forte Panel Hospitals provide fast, quality treatment without worrying about hospital bills upon discharge.

SOS services

International SOS, a global leader in healthcare delivery, offers a full range of healthcare services to provide immediate assistance when you are abroad, including 24/7 healthcare.

Independent international loss assessors

In the event of a fire or a construction claim, Forte’s experienced, independent international experts will study your loss and guide you to ensure an effective and prompt settlement.

Exceptional claims services

As a leading insurance company in Cambodia, Forte Insurance is committed to an efficient, fair and prompt settlement of all claims.

Customer-oriented service

We provide consistent, flexible and fair claims management using claims operations structured to cross traditional corporate and geographic boundaries.

Compliments, comments and complaints

Let us know and we will respond to your feedback quickly, fairly and friendly.

Before introducing this article, if you are interested in our core services which are expat financial, insurance and mortgages, you can contact me here. 

The best time to consider your financial situation is when you are moving to a new country.

Introduction

As an expat moving to Singapore for the first time, you should consider buying health insurance.  After what you might have heard about how Singapore is safe, modern, cosmopolitan, and has a high standard of healthcare, you’ll just be fine. So, why bother with the best health insurance in the country?

Well, having health insurance is essential when you’re traveling to a new country. In our previous post, we talked about health insurance benefits while traveling to a new country. If you’d love to understand the process better, kindly jump-back to the post and read it before proceeding to this article.

However, you may need to understand Singapore’s healthcare system. Aside from this fact, you should know that it’s affordable for Singaporeans because they qualify for generous subsidized rates. More so, the public healthcare system involves long waits and can sometimes be a bit too basic for comfort.

On the other hand, private healthcare is good. And as an expat, you can usually see a doctor on very short notice. So, it is very expensive by any standards no matter where in the world you’re from. Have you been surfing the internet to understand more about AIA insurance? Well, we’ve got you covered!

In this article, we will walk you through the health insurance plans foreigners can choose. Not only that, but we have compiled this article to explain all the information you need to know about AIA insurance in Singapore, why it is different from other insurance companies, and many others. Read further to know more!

Health Insurance Plans Foreigners Can Choose From

There are three types of health insurance plans that foreigners can choose from in Singapore. In this section, we will walk you through the health insurance plans. Also, don’t forget these plans are divided according to what they offer expatriates. Without further ado, take a look at the health insurance plans.

1.    Integrated Shield Plans in Singapore

These integrated shield plans are the ones that originated from local insurance providers aimed at a local clientele. This type of insurance plan is meant to be used together with MediShield Life, the basic national health insurance plan that Singaporeans are automatically enrolled in. while expat do not receive MediShield Life coverage, they are still eligible to purchase these local insurance plans.

2.    International Health Insurance (Local Providers)

Some local insurance providers offer international health insurance plans, especially for expats. These shouldn’t be confused with integrated Shield plans, which are local policies. In this case, ensure you clarify this with the insurer before making any further action like payments, agreements, and others.

3.    International Health Insurance Plans

International health insurance is the best one to choose as an expat in Singapore. These types of plans are provided by insurers that are not based in Singapore alone. And of course, there’s also the employer’s group insurance plan and the existing health insurance policy. However, it’s essential to check the extent to which they will cover you and your dependent’s healthcare costs here in Singapore.

Pros and Cons of Buying an Integrated Shield Plan

When it comes to insurance and its terms, the benefits of knowing what an integrated shield means cannot be overemphasized. They provide coverage on top of your MediShield Life. Some may cover you for a higher-type ward (A/B1) in a public hospital, while others cover admission into a private hospital. In this section, we have compiled some of the pros and cons of buying an integrated shield plan. Check it out!

Pros

Affordability

Affordability is one of the reasons why you should get an integrated plan. This is because; they’re meant to be used mainly in Singapore; their premiums plan also tends to be a whole lot cheaper than those of international health insurance.

However, a 35-year-old expat can expect to pay around $600 to $700 annually for an integrated Shield plan. Here, you’ll have the options to add on a rider that covers your deductible and caps your out-of-pocket costs to $3,000 a year. This means, with a rider, your annual health insurance premium could sum up to about $1,000 to $1,200

Enough Overseas Coverage

This is another thing to put into consideration. International health insurance typically offers coverage in entire regions or even the whole world. Here, it’s not really necessary for many expat, but many integrated Shield plans will provide you with some form of coverage for overseas emergency treatment. Also, for short trips, you’ll probably have travel insurance coverage as well.

Cons

Only Hospitalisation Coverage

Integrated Shield plans also tend to be rather basic as it covers bills arising from hospitalization. Not only that, but they do not include outpatient treatment, dental treatment, yearly eye check-ups, or maternity cover. On the flip side, you’ll have the option to add such coverage to an international health policy.

Co-payment Portion

Another downside of this integrated Shield plan is that there’s always a co-payment portion that you can’t avoid as an expat. Although you can buy a rider to try to reduce it as much as possible, but deductibles apply to international health insurance plans.

Limited Overseas Coverage for Expat

It’s no doubt that integrated Shield plans can let you make claims for hospitalization costs incurred abroad, but that’d only be in emergencies and subject to limits. Therefore, if you’re frequently absent from Singapore for long stretches or prefer to seek treatment in your home country, you’ll be better protected with international health insurance.

Expat Health Insurance Coverage in 2021

The expat health insurance coverage is the things that the expat health insurance covers. Before we dive into what AIA insurance entails, it’s crucial that you know the benefits derived from international health insurance. Without further ado, below are the expats health insurance coverage in 2021.

●        Outpatient Treatment (Expats)

Most international insurance plans for foreigners often include common outpatient treatments such as kidney dialysis, cancer radiotherapy, chemotherapy, and many others to their insurance package. On the flip side, other claimable outpatient treatments include immunosuppressants for organ transplant patients and long-term parenteral nutrition, which you may know as tube feeding.

●        Expat Travel Emergency

While local health insurance largely offers you medical coverage when you’re physically in Singapore, some international plans may provide overseas emergency medical coverage in life or death situations such as emergency medical treatments or evacuation.

●        Pre-hospitalization

This is another benefit to look out for when you’re planning to enroll in an international insurance company. Besides, if your hospitalization stay and the treatments you receive during your stay have all been approved by your insurance company for claims, then you can start filling your pre-hospitalization treatments for insurance claims or offers.

●        Post-Hospitalisation

After you might have been discharged from the hospital, international health insurance will also cater to your needs. This means you’d be given medical treatments or regular prescriptions, and if your doctor referred you to an insurance-approved clinic, you would be able to claim these post-hospitalization treatments’ bills as well.

Choosing the Best Health Insurance

We understand that health insurance comes with numerous benefits, riders, options, and variations. However, it’s always complicated to choose the right one. But, instead of trying to compare all the available plans and their benefits, you should check this method to pick the right insurance company.

Your Need is Essential

If you found yourself in Singapore, one first thing you should know before choosing the insurance company is your need. Instead of trying to compare all available plans and all their benefits, you should evaluate your personal health status, family medical history, personal medical history, and more to pick out and compare the benefits that you think are important to you.

Riders and Deductibles

Riders and deductibles are other things to consider when choosing the best health insurance. Also, one thing you need to ask yourself is; what’s the amount you must pay out of pocket before your coverage kicks in? Well, out-of-pocket costs may include specialist visits, procedure fees, and in some cases, even prescription. Therefore, be sure to check with your insurer to know if the plan has either a single or a separate deductible for prescriptions to know the amount you’ll pay before the medicine are covered.

Coinsurance or Co-pay Factor

This is another factor to put into consideration while choosing the best international health insurance company. Are you aware of other costs that you may be required to pay in the long run? If that sounds like a no, don’t forget that you may be responsible for other out-of-pocket expenses even after you reach your deductible.

Who Needs Health Insurance in Singapore

While Singapore has a high standard of the healthcare system, the cost of healthcare is equally high in this country. Hence, it is highly recommended that you have a health insurance plan that allows you to access local healthcare facilities whenever you’re going. Take a look at the people who need health insurance.

Work Permit or S-Pass

If you’re a foreigner on a work permit or S-Pass, your employer must insure you with health insurance coverage with a minimum annual coverage of about S$15,000. Also, the health insurance coverage should be fully paid for by your employer. But, there may be a co-payment of up to 10 percent of the employee’s monthly income for non-work-related claims.

Foreigners with Employment Pass

For foreigners with an employment pass, employers don’t need to insure you with health insurance. This way, if you’re not covered by any corporate health insurance or other types of health insurance coverage, it is highly advisable to get yourself some coverage in the country.

Private Health Insurance

If you’re a frequent flyer looking for a health insurance plan that will cover your medical expenses around the globe, you’ll need to purchase international health insurance from different private insurance companies. Therefore, it’s always better to choose the right healthcare insurance in Singapore.

AIA Health Insurance in Singapore

AIA Singapore is an outpost of the multinational insurance and finance corporation AIA Group Limited in Singapore. This company has its headquarters in Hong Kong, and it was founded in 1919 as American Asiatic Underwriters.

Over the years, it has grown across 18 Asia-Pacific markets and is now the largest independent publicly-listed Asian life insurance group. In addition, AIA has been in Singapore since 1931 and now offers ten categories of personal insurance for individuals alongside employee benefits insurance for businesses.

Why Choose AIA Insurance Singapore Today

Since we’re talking about AIA insurance review, you should understand why this insurance is different from others in the country. Why do you think AIA is the best?  Would you love to go for their services rather than choosing others? And if you’d love to know why check out the reasons we’ve listed below.

1.    AIA HealthShield Plan

AIA HealthShield Gold Max is AIA Singapore’s flagship Integrated Shield Plan (IP), meant to complement your MediShield Life plan in the country. This plan allows you a maximum annual claim limit of about S$2 million, up to 13 months of pre-and post-hospitalization benefits, medical concierge, and several add-on riders. Not only is that, but AIA HealthShield Gold Max is a MediSave-approved integrated Plan.

2.    AIA Panel Clinics

The AIA Quality Healthcare Partners (AQHP) is another thing you’d love to choose the AIA insurance company. It lists preferred 290 doctors and clinics with predetermined outpatient consultation fees, 3-day appointment lead time, and an in-app appointment booking system via the AIA Healthcare mobile app, which can be downloaded on the Apple App Store or Android Google Play store.

To book an appointment via this app, simply open it, browse through the list of doctors or search for your doctor or clinic’s name.

3.    AIA Mum2Baby Protect

Base whole life plan offers critical illness coverage, multiplier boosters, cash value accumulation, and bonuses. Aside from this fact mentioned,  you should know that pre-natal rider offers S$100 to S$10,000 coverage for ten pregnancy complications, hospitalization, death for the mother, medical negligence, premature birth, and HFMD for the baby, and many others, to mention a few.

Types of Insurance AIA Offers

As of the time of writing this article, AIA offers a total of insurance for individuals and businesses, namely medical, life, hospitalization, personal accident, critical illness insurance, and many more. In this section, you’ll find an overview of each type of insurance. Without further ado, check it out below.

●        Life Insurance Coverage

Life insurance coverage is one of the types of insurance AIA offers.  In this insurance company, there is two primary types of life insurance. The first one is the term insurance plans that offer you coverage for a fixed term of time determined by you.

Not only that, but the whole life insurance, on the other hand, covers you for life or until the stipulated date in your policy. Also, AIA offers seven types of life insurance plans ranging from the AIA Guaranteed Protect Plus (II), Lifetime Protector, Secure Flexi Term, and more.

●        Medical Insurance Coverage

Medical insurance plans can help you to alleviate hefty medical and hospitalization bills in the event you run into an unexpected medical condition or emergency in the country. Meanwhile, in Singapore, all citizens and permanent residents are automatically enrolled into the governmental MediShield Life offered by the country’s ministry of health.

●        Accident Protection in AIA

Why do we need a personal accident insurance plan? Of course, accident protection insurance helps individuals alleviate hefty emergencies, long-term medical treatment bills, and any loss of income arising from unexpected accidents. Aside from this fact, AIA offers four years of personal accident plans such as AIA Solitaire PA plus offering you salary compensation and financial security for your family in the event.

●        Saving Insurance Plan

Savings insurance is a system that requires you to pay your preferred amount of premium annually for a fixed number of years, e.g., 5 or 10 years. Your policy and the total amount you have deposited then take another set number of years to mature.

In this case, it may then regenerate a certain amount of interest per annum or bonuses as well. Therefore, once your policy has matured, you will be able to withdraw the total sum. Besides, AIA offers ten different types of savings insurance policies to suit your age group, cash flow needs, and budget.

●        Retirement Coverage

Do you think that retirement insurance plans are essential? Yes! They are an indispensable option for work or not as you approach your golden years as it requires early planning. If you have a mortgage-free home, your debts paid off, you can calculate your retirement needs via the AIA retirement calculator.

●        Disability Income Protection

These disability income protection insurance plans offer you monthly payments if you run into accidents or illnesses that cause partial or total disability. These plans are important if you work in injury-prone manual labor industries or operate heavy machineries and maybe the family’s sole breadwinner. Again, AIA offers a termed Premier Disability Cover plan for individuals aged 16 to 60, offering lump-sum or monthly pay-outs, income top-ups, and paybacks, and many others.

●        Critical Illness Insurance

Have you been asking yourself if you need critical illness insurance? Well, worry less as AIA got you covered. Moreover, critical illness insurance serves to lighten your medical expense burden if you’re diagnosed with a critical illness that demands costly and long-term treatments.

Also, AIA offers six critical illness insurance plans such as the Power Critical Cover, a whole life plan which allows you to claim medical bills for early, multi-stage, and relapse of 150 critical illnesses, death, and diabetes. Aside from this fact, AIA Multi-Stage Cancer Cover, on the other hand, offers you a lump-sum pay-out.

●        AIA Investments

AIA investment-linked insurance plans are basically life insurance plans with an investment element added to them. Just like any life insurance, you and your family will be offered a financial pay-out when there’s an event of disability or death.

On the flip side, when you pay your premiums for your investment insurance plans, these premiums will be automatically used to purchase units in your preferred sub-funds portfolios that match your risk appetite.

●        Travel and Lifestyle in AIA

AIA’s around the world offers several travel insurance plan which you can purchase for single, annual, or multiple trips online or via your AIA agent to claim medical and hospitalization expenses that could arise from accidents, injuries, or illnesses while abroad, money or document loss. Also, travel insurance aside, AIA offers home and property protection insurance, domestic helpers or maid insurance, and pet insurance plans as well.

Frequently Asked Questions about AIA Insurance

Can foreigners buy AIA insurance in Singapore?

Of course, yes! Foreigners can buy AIA insurance in Singapore. In fact, foreigners can choose to purchase an expat health insurance in the form of an integrated Shield Plan for foreigners, offering access to and coverage for medical treatments and expenses within Singaporean hospitals and medical facilities.

What kind of Insurance do I need in Singapore?

If you found yourself living in Singapore as an expat or locals, you should have five types of insurance. This insurance include; life insurance, health insurance, personal accident insurance, critical illness insurance, as well as the income disability insurance plan.

What is the AIA deductible in Singapore?

Well, not to worry! Deductibles, as said earlier, are a fixed amount you have to pay for the medical expenses incurred as cost-sharing. Here, you’ll have to pay the first RM300 out of the eligible expenses for anyone’s disability, and the company will pay for the rest of the eligible expense. This means your coverage begins immediately after your premium payment is confirmed.

Does AIA cover medical check-ups?

Well, we can tell you that AIA will only pay the eligible medical expenses up to an amount the company considers reasonable and customary, provided that the medical care is medically necessary. More so, it comes with comprehensive medical coverage that protects you against escalating medical costs.

Conclusion

AIA insurance is one of the best international health insurance in Singapore. They offer incredible coverage and services, as mentioned above. Also, they encourage and reward their customers for leading and living a healthy and active lifestyle. So, what are you waiting for? Navigate to their platform now to begin.