Going on a Long Overseas Trip? Here are Your Travel Insurance Options

Travel insurance is arguably more important for those spending longer periods overseas. Here’s how to use travel insurance to ensure adequate protection for long-term travel.

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Let’s get one thing out of the way: You absolutely need travel insurance if you’re going on a long-term overseas trip.

This is because your Medishield Life and/or Medishield IP only cover you for hospitalisation and medical treatment when you’re in Singapore. Which means, the longer you are away from home, the more you’re running around without medical insurance coverage.

Also, if you’re taking a 6-month sabbatical to, uhm, run with the horses or something, the chances of you breaking a foot is much higher than if you were simply sitting at your desk bound job.

So now that we’ve established that you’re going to need travel insurance for that long-awaited odyssey around the world, let’s take a closer look at your options.

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Travel Insurance	Premium for Individual Cover	Covid-19 Coverage	Promotion
Allianz Travel Insurance Apply Now	from S$34.10 (for 1 week in Asean)	Yes	Use promo code AzSSV to get a 45% discount (Exclusive to SingSaver) and up to $60 via PayNow. Valid till 30 May 2023. T&Cs apply
MSIG Travel Easy Apply Now	from S$34.10 (for 1 week in Asean)	Yes	Score an Airalo eSIM with 1GB data and receive it within 4 working days when you apply now! Valid till 12 June 2023. T&Cs apply.   Enjoy 40% off your Single Trip premium and 20% off your Annual Trip premium. Plus, receive up to S$38 via PayNow when you apply. Valid till 31 July 2023. T&Cs apply.
Etiqa (TIQ) Travel Insurance Apply Now	from S$39 (for 1 week in Asean)	Yes	Single Trip: Use promo code TIQSINGSAVER to enjoy 40% off when you apply. Annual Trip: Use the promo code TIQSINGSAVER to enjoy a 60% discount and S$20 cashback on your COVID-19 add-on. Valid till 18 June 2023. T&Cs apply.
Starr TraveLead Travel Insurance Apply Now	from S$11.05 (for 1 week in Asean)	Yes	Use the promo code SSVTL35 to enjoy up to S$48 via PayNow, a 35% discount, plus an exclusive Agoda promo code. Valid till 30 June 2023. T&Cs apply.
FWD Travel Insurance Apply Now	from S$22.50 (for 1 week in Asean)	Yes	Use the promo code TRAVEL25 to get 25% off on Single Trip and Annual Trip plans. Valid till 29 May 2023. T&Cs apply.
AIG Travel Guard® Direct  Apply Now	from S$30 (for 1 week in Asean)	Yes	Score an Airalo eSIM with 1GB data and receive it within 4 working days when you apply now! Valid till 16 June 2023. T&Cs apply.   Single Trip: Use promo code SSFLASHSALE to get 10% off and up to $50 Dairy Farm eVoucher (fulfillment by AIG). Valid till 30 June 2023. T&Cs apply.

Find the Best Travel Insurance for You

What are your options for long-term overseas insurance coverage?

Global healthcare insurance plans (aka expat plans)

Global healthcare insurance plans are simply medical insurance plans that offer coverage no matter where you are in the world.

Coverage is offered on a persistent basis, as long as the policy remains in force. There are no restrictions in terms of duration; you’ll get the same level of coverage whether you’re holidaying in Bangkok for a week, visiting home for a month in Australia, or working at your investment banking job in Singapore for the next five years.

However, there may be restrictions in terms of geographical region (such territories at war), and you may have lower coverage – or even none – in certain countries, such as the U.S.

Nonetheless, global healthcare plans offer convenience and versatility to expatriates or those who find themselves spending a fair amount of time living in different countries.

But on the other hand, such plans do not offer a well-rounded solution to travellers.

This is because global insurance plans mainly cater to healthcare and medical needs. They do not generally cover travel risks, such as travel delays, missed flights, damaged or missing luggage and personal items, etc.

Long-term travel insurance

Long-term travel insurance is designed for those taking trips that last a long duration, typically several months to a few years. They are suitable for parties such as digital nomads, gap-year backpackers, overseas exchange students, those wishing to work overseas for a year or two, etc.

Long-term travel insurance is highly similar to conventional travel insurance plans. They usually offer overseas medical cover, including benefits for emergency evacuation, personal accident and such; travel curtailment cover, including for missed flights or trip cancellation; and personal belongings benefits, covering delayed luggage, and theft or damage of your items, etc.

One core difference is that long-term travel insurance is less restrictive than some travel insurance policies may be, in regards to the maximum duration of your trip. For instance, you may be able to insure a trip that lasts 24 months via a long-term travel insurance plan, whereas most conventional travel insurance plans only allow a maximum coverage of 6 months.

Travel insurance

And then of course, there’s also good ole travel insurance, which comes in two flavours – single-trip plans and annual plans.

Counterintuitively, it is single-trip plans (and not annual plans) that make for the better choice for multi-month holidays.

This is because most single-trip plans cover you for up to 180 days overseas, even if you travel to several different countries during your trip.

In comparison, annual plans cover all overseas trips taken within a 12-month span, but each individual trip will only be covered for between 30 days to 90 days – depending on your insurer.

What’s the implication of this? Well, let’s say you’re planning to stay at least two months in Japan at one go. Your annual plan only covers each trip for 30 days. If you come to require medical attention on Day 33 of your holiday, your insurer has the right to reject your medical bill claim.

In such a scenario, you’d be better off with a single-trip plan with two months of coverage. Or, you should purchase an additional single-trip plan to cover the second half of your trip.

Which type of travel insurance should long-term travellers choose?

Well, it all boils down to two factors: the length of your trip, and how many trips you’re taking. But generally speaking, conventional travel insurance should adequately serve the needs of most long-term travellers.  

If you plan on taking two or more trips, in a year, and don’t expect each trip to last longer than three months each, you may find the best value with an annual travel plan that covers up to 90 days per trip.

Note that your premiums will be affected by the region you travel to, so you should organise your itinerary accordingly to keep costs low.

If, however, you prefer to travel with as little restrictions as possible, getting a single-trip plan will be the most fuss-free option for you. You can purchase the coverage you need, and add on or alter your coverage as you go along.

So for instance, you can start by buying a single-trip plan for two months in Southeast Asia. Then, if you want to continue your holiday for another month in Japan, you can contact your insurer to extend your coverage, or simply purchase another travel policy to cover the next leg of your trip.

One thing to note though is that insurers may impose a limit on the maximum number of days they will cover you within a specific period – such as 180 days out of 365.

This means that you will not be able to purchase a second single-trip policy to continue covering your travels if you’ve already spent more than 180 days overseas, and will have to approach another insurer instead.

As such, if you plan to be overseas for a considerable period of time, and don’t want to deal with multiple travel insurance providers, you might want to look into long-term travel insurance plans. You’ll have less uncertainty about your coverage, and may even be able to achieve some savings.

And as for global healthcare insurance, as explained, that is really more for expatriates or those moving to another country. That, combined with the lack of travel benefits, mean such plans should not be your first choice for long-term travel coverage.

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Best Travel Insurance Plans And Promotions In Singapore (March 2023)

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