Employer group coverage rarely closes the gap for expats with dependants, liabilities or cross-border financial obligations. Understanding what you have — and what you don't — is the starting point.
Employer-sponsored group policies typically cover basic death and disability. They rarely include critical illness, are not portable when you move, and may not reflect the financial obligations you carry across jurisdictions.
Term insurance covers a fixed period at lower cost — suited to covering a mortgage or income replacement during your working years. Whole-life builds cash value and covers for life. A licensed adviser can model both against your goals.
A serious illness can interrupt income and generate costs that health insurance does not fully absorb. Critical illness cover pays a lump sum on diagnosis, giving financial breathing room independent of hospitalisation reimbursement.
If you plan to leave Singapore eventually, ask about portability before buying. Some policies remain in force after relocation; others have residency conditions. Lock in insurability while you are healthy and in Singapore.
In Singapore, financial advisers must hold a valid licence under the Financial Advisers Act. Check the MAS Financial Institutions Directory to verify any firm and adviser before engaging them.
Ask about sum assured logic, exclusions, premium escalation, surrender value, portability on relocation, nomination procedures and how the policy interacts with your existing employer coverage and any home-country policies.
Financial planning questions, insurance questions, financial planning checklist and wills and LPA.
Depends on dependants, liabilities and existing cover. Expats with a family or cross-border obligations often have a gap employer policies don't fill.
Search the MAS Financial Institutions Directory at mas.gov.sg before engaging any adviser.
Portability depends on the policy. Clarify terms with a licensed adviser before purchasing.
No. We provide general information and route requests to MAS-licensed advisers only.
General information only. SG Expat Desk does not provide financial, insurance, investment or tax advice. Consult a MAS-licensed financial adviser for personalised guidance.