We all travel, for holiday and business. Inevitably accidents happen and we may also be put in situation involuntary.
The best thing to do now is to turn to our long trusted friend, “the insurance policy” the one we thought we had bought and is now coming into play. BUT…
Bad experiences with insurance companies
We all have our fair share of unpleasant experiences with insurance company when we submit our claim. You are faced with numerous challenges just to submit a $200 claims. The claim handler will come back to you with tons of requirements, asking you for; Prove of purchase, Travel itinerary, Police report and etc …
The verdict – we regret to inform you that your claim did not meet the policy requirement. - Sound familiar?
So how to make them pay? - For a start, we need to know what we are in for.
(A) Where did you get your travel insurance when you planned for your holiday?
Online
With your agent / broker
The rule is, you must be able to contact a person for any inquiry or assistant when is needed. He or she is the best person to talk to the insurance company to solve your problem.
Note: online platform can be managed by the insurance company directly, through banks or is run by the broker or agent themselves, of which you should get more personal attention from the broker / agent.
(B) When to purchase your travel insurance?
You must purchase the insurance before departing Singapore. If insurance is purchased after your departure from Singapore, the policy is void regardless of whether a policy has been issued.
Trust me; you don’t want to be outside of Singapore without a valid travel insurance policy. Now the next best thing to do is to call your agent or broker to assist you.
Tips: Agent here is referred to as your insurance agent and not your travel agent. It is advisable to take up your travel insurance the same time you book your air ticket because Trip cancellation and Travel Postponement are two section to look out for.
(C) Medical Expenses Incurred Overseas for Sickness or Injury
This is one of the most crucial sections of all travel insurance. Remember, once we are out of our country of resident we are named as a foreigner, and this status will attract higher medical expenses.
When traveling as a family, you may have all members covered with the same insurance company and same plan, but bear in mind there will be a different in amount of benefit to each person.
For example
Medical Expenses Incurred Overseas for Sickness or Injury
Plan A Plan B Plan C Insured Person (under age 70 years) $2,000,000 $500,000 $200,000
Insured Person (age 70 years or older) $200,000 $75,000 $50,000
Insured Child in a Family Plan $300,000 $200,000 $200,000
(D) Post Trip Medical Expenses Incurred In Singapore
Take note that some insurance company may not cover this section.
Different insurance company apply different terms & conditions to cover this benefit.
This section covers your for follow up treatment when you are back from your trip.
Examples for the conditions apply are
If prior medical treatment has not been sought Overseas, You must seek medical treatment in Singapore within 2 days from the date of return to Singapore.
If medical treatment had already been sought Overseas, You have up to a maximum of 30 days from the date of return to Singapore to continue medical treatment in Singapore.
In order to see the claim through smoothly, you will need to provide supporting documents.
Insurance policy is all about fact and figure so don’t assume and don’t just read the bold print. Whatever it says on the brochure is only a summary of its coverage.
You need to know exactly what is covered and how it is applied. Many of us may not have the time and patience to read the small prints. But it is important to know.
Tips: These are sections you would want to know in detail when you buy your travel insurance. So just zoom in on these sections and see what is in it for you.
Medical Expenses Incurred Overseas for Sickness or Injury and Post Trip Medical Expenses Incurred in Singapore
Emergency Medical Evacuation & Repatriation
Travel Cancellation & Postponement
Travel Cancellation due to Insolvency
Personal Liability Abroad
