What Insurance Do You Need Now? How to Protect Yourself Against the Unexpected

This year, get organised and make sure you are protected with the proper insurance to suit your circumstances. To help you on the right path, we asked Expat Insurance to explain the kinds of coverage that are appropriate for every decade of life.

In your 20s:

See the world:

Travel may be a big part of life during your twenties, as you explore the world and discover new cultures, cuisines and more. Travel insurance gives you freedom to roam the globe knowing that you’ll be able to afford medical care should anything unexpected happen to you.

Independent living:

For many of us, renting a house or a condo is a normal rite of passage during our twenties – and it can be a lot of fun! Whether you’re renting a single-family home or a shared apartment, renter’s insurance will help cover the cost of replacing your belongings if they’re unexpectedly damaged. You can also protect your most precious things such as engagement rings, cameras and other valuable items in the event of loss, damage or theft.

Don’t forget about your health:

Medical insurance is an investment worth having if you live in a country where government-subsidised healthcare isn’t available. In Singapore, private medical care is among the most expensive in the world, so international medical insurance is essential. Health insurance policies give you the flexibility to be treated in private, world-class medical facilities or, if you choose, to be transferred back to your home country for treatment and recovery.

Family planning:

Women who are planning to have children in Singapore should get health insurance with maternity coverage. Maternity insurance is an addition to general medical insurance policies, and one that’s worth buying for additional protection during pregnancy, childbirth and postnatal care. It’s important to remember that most maternity insurance plans require a 10- to 12-month waiting period prior to the onset of pregnancy.

In your 30s:

Buying a home: