Bust the myths on insurance for Expats

Unravel common insurance myths and empower yourself to make informed decisions on your wealth, health and protection goals.

Myth 1: My company insurance is enough

Healthcare in Singapore is costly, with specialist medical bills reaching up to S$25,000¹. Expats do not enjoy government subsidies and the excess bill, if not fully covered under the group (employee) insurance benefit, would have to be borne by the individual. This makes personal medical and hospitalisation plans more crucial so that you are adequately covered.

Be adequately covered with our medical and hospitalisation plans.

Myth 2: I can’t buy insurance due to long payment terms

Prudential offers flexible solutions with shorter payment terms such as:

The PRUActive series of solutions which offers as short as a 4-year regular payment term.
PRUCancer 360 which is 5-yearly renewable to cover rising medical costs without breaking the bank.

Flexible solutions with shorter payment terms

Myth 3: Policy payment is hard when relocating

Should you need to make your first payment when you arrive in Singapore before your local bank account or card is issued, you can make initial payments via:

International credit card for SGD Policies².
Telegraphic transfers with a nominal transaction fee for USD policies.

Payments made easy with flexible options

Myth 4: It’s a complicated payout process after I relocate

We offer lump-sum payouts via Telegraphic Transfer with a minimal charge of S$12 for policies in SGD and US$7 for policies in USD. Plus, maturity pay-out charges are also waived.

Your lump-sum payments are just a transfer away

Myth 5: Job loss risks my financial security

Manage financial struggles in the event of retrenchment with our Premium Defer Benefit and Premium Holiday options which are available under selected solutions.

Options to manage your premiums in the event of job loss

Important Information

Footnotes

¹www.smartwealth.sg/healthcare-cost-statistics-singapore

²Only applicable for the first, initial premium payment.

Important Notes

You are recommended to seek advice from a qualified Prudential appointed representative for a financial analysis before purchasing a policy suitable to meet your needs.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs. The surrender value, if any, may be zero or less than the total premiums paid.

The information contained herein is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details, and exclusions applicable to these insurance products in the policy documents that can be obtained from a qualified Prudential appointed representative.

The information contained herein is for distribution in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore.

The information presented cannot be reproduced, amended or circulated in whole or in part to any other person without our prior written consent.

Information is correct as of 19 August 2024.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Terms and Conditions apply

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).