4 reasons why expat families need an international health insurance plan

If the global pandemic has taught us anything, it’s that our health is much more vulnerable than we once thought and there’s little room for us to take it for granted.

In fact, as travel restrictions persist, expat families like yours may also feel the added pinch of not being able to return home to visit your loved ones or attend to your family’s medical needs.

But what if we could take some of that stress and uncertainty away by ensuring that your family remains well-prepared wherever you are in the world. This is where an international health insurance might be helpful and here, we share 4 reasons why you should consider getting one sooner than later.

1. Your employer’s health insurance may not cover your family

While you may be covered under a corporate medical plan, did you know that this coverage may not always be comprehensive enough for you and your family? In some cases, you may even find that your children and spouse are not covered at all.

Healthcare costs in Singapore can be expensive and if the last thing you want is the added financial worry in the event your family members require medical help, an international health insurance could be the solution.

For example, FWD International Health insurance allows you to cover yourself, your spouse and up to 4 children with a comprehensive coverage of up to S$3 million per year.

With No-Claim Bonus included, you’ll get to enjoy double the limit at no extra cost if you don’t make any hospitalisation claims for 2 years. However, in an unforeseen circumstance where your claims exceed your annual limit¹, FWD International Health insurance also provides a Reload Benefit, so you can use it to cover any additional hospitalisation costs due to an accident in the same year.

2. You need a health insurance that’s suited for your family’s needs

Even if your employer’s health insurance does cover your family, it’s important to remember that each family is unique, so you’ll want the flexibility to ensure that your family’s specific needs are well-taken care of.

How? By getting an international health insurance plan that allows you to customise your coverage and choose the benefits you need, instead of buying a preset plan or relying on your corporate medical plan which may not be extensive enough.

FWD International Health insurance gives you the flexibility to choose the following benefits on top of the inpatient benefits covered in the base plan.

• Outpatient benefits
• Dental & vision benefits
• Maternity benefits

Not only that, you’ll be able to choose your desired coverage amount and check your price in real-time when you get an FWD International Health quote.

These benefits could come in especially handy during this period where you may be unable to return to your home country for routine vision and dental check-ups, or if you do decide to expand your family here in Singapore. (P.S: the average cost of pre-natal care can amount to approximately S$6,393 for 9 months, not to mention the cost of delivery and post-natal care too.)

3. You’ll be covered no matter where you go

While travelling may still be limited for now, you’ll want to ensure that you and your family are prepared for the time when travel does resume – whether for business, leisure, or a trip back home.

When that happens, an international health plan will allow you or your family members to seek the medical help you need whilst overseas. A plan like FWD’s will also allow you to enjoy cashless claims across a global network of medical facilities so your experience is simple and hassle-free. This will help prevent any unnecessary confusion when it comes to navigating healthcare in a foreign country, as well as the potentially high costs you may otherwise incur.

And when the time comes for you to move back home or to another country², you’ll be relieved to know that you can keep your coverage for as long as you need it – even when you’re no longer in Singapore.

4. You get to save on potential medical costs

Even if some medical services in Singapore are affordable for you or covered by your corporate medical plan, unexpected illnesses and accidents could drive up your medical expenses to the thousands – sometimes, even beyond what your existing insurance covers.

In such cases, an international health insurance can save you from taking out an exorbitant amount of money from your savings accounts or leaving your family in medical debt.

For example, without access to subsidised healthcare in Singapore, you could end up incurring out-of-pocket expenses of at least S$7,919 (public hospital) or S$26,300 (private hospital) for a single round of cancer treatment (including biopsies, surgery, and chemotherapy).

And because critical illnesses like cancer require many months of treatment, these costs can add up quickly and become debilitating to your financial health if you’re not covered in advance.

How do I get an international health insurance for my family?

If you’re ready to invest in a comprehensive yet customisable plan like FWD International Health insurance, all it takes is a few minutes to get an FWD International Health insurance quote online and you’ll get to enjoy any ongoing discounts we have too. Start giving your family the protection they need today!