Singlife Vs FWD Vs MSIG Travel Insurance Review And Comparison 2024

We compare plans from three popular travel insurance providers – Singlife, FWD and MSIG – across five key areas. Which one gives you the best bang for your buck?

The challenge in comparing travel insurance plans stems from how different insurers offer different coverage and benefits. It’s no different with Singlife, FWD and MSIG, which are three popular choices among travellers. 

Table of contents

In this article, we’re reviewing travel insurance plans from these three providers, comparing common benefits across five key areas: 

• Why are we comparing and reviewing travel insurance plans
• Comparing personal accident and overseas medical coverage
• Comparing COVID-19 coverage
• Comparing trip cancellation or interrupting coverage
• Comparing luggage and personal belongings coverage
• Comparing other features and optional add-ons
• Singlife, FWD or MSIG — Which one should you choose?

Important note: For the sake of brevity, the following tables contain selected key benefits only; for the full range of benefits, consult the respective product brochures. 

Also, the figures displayed in the tables below are the maximum benefit allowed under the highest-tier plan. Be aware that sub-limits may apply, and that some benefits may not be offered for lower-tier plans.

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Why are we comparing and reviewing these travel insurance plans

Travel insurance is an essential part of any trip, offering peace of mind and protection against the unexpected. With so many options available, reviewing and choosing the right travel insurance plan for you and your loved one can be a daunting task. 

This is why we're focusing on comparing and reviewing travel insurance plans from Singlife, FWD, and MSIG — three popular choices among travellers. Our goal is to help you make an informed decision by highlighting what sets these plans apart and how they cater to different travel needs.

So, why Singlife, FWD, and MSIG specifically?

Singlife, FWD, and MSIG are reputable insurers with distinct features in their travel insurance offerings. Each has its own set of benefits, coverage limits, and exclusions, making them suitable for various types of travellers with different priorities. 

Singlife is often recognised for its comprehensive coverage, appealing to travellers who prioritise a wide range of protections. Their plans often include high coverage limits and a range of benefits that cover various aspects of travel.

FWD, on the other hand, is known for its competitive pricing and straightforward claims process, making it a favourite among budget-conscious travellers. FWD's plans are also designed to provide essential coverage at affordable rates, making travel insurance accessible to a wider audience.

Next, MSIG. It brings a combination of experience and extensive coverage options to the table. Their plans are often more detailed and can include unique benefits that cater to specific travel needs, such as coverage for replacement costs of employees for corporate policyholders or even pre-existing medical conditions.

By comparing these insurers, we aim to provide a clear view of what each plan offers, helping you understand the trade-offs and benefits. 

Whether you are looking for the highest coverage limits, the most affordable options, or specific features like COVID-19 coverage, our comparative review will give you the insights you need to choose the right travel insurance for your next trip

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Comparing personal accident and overseas medical coverage

When considering travel insurance for your next trip, it's crucial to weigh the differences in personal accident and overseas medical coverage, especially when comparing options like Singlife, FWD and MSIG travel insurance. 

These coverages are pivotal in ensuring your safety and financial protection in case of unforeseen accidents or health emergencies while travelling abroad.

MSIG TravelEasy and Singlife Travel Insurance both offer higher maximum payouts for personal accident cover, at up to S$500,000 per individual. 

This can potentially be doubled should the accident take place on public transport, meaning that payouts can reach S$1 million per person. 

FWD Travel Insurance pays out at most S$400,000 for this benefit, and there is no double indemnity for public transport. 

The other important coverage here is the amount of overseas medical expenses you claim for. The winner here is Singlife, which offers unlimited coverage for this benefit for the highest tier plan, and up to S$2 million for the second-highest tier. 

Meanwhile, FWD and MSIG both offer up to S$1 million coverage for overseas medical expenses. 

As for follow-up medical treatment upon returning to Singapore, Singlife and MSIG both take the lead, offering up to S$80,000 and S$75,000 in benefits respectively. FWD comes in at a distant third, with up to S$30,000 coverage.

Lastly, all three plans include emergency evacuation and repatriation up to unlimited cover, or in MSIG’s case, up to S$1 million – which should be more than sufficient in most cases.

Apply for MSIG's travel insurance now for your next trip!

Comparing COVID-19 coverage

In today's travel landscape, evaluating COVID-19 coverage is a key factor in choosing the right travel insurance. Especially when comparing options, understanding how each plan addresses pandemic-related contingencies can significantly impact your travel insurance decision. 

Let's review how Singlife, FWD and MSIG’s COVID-19 coverage measures up, ensuring you stay well-protected against any COVID-19-related travel uncertainties.

The important thing to realise here is that while MSIG and Singlife automatically include COVID-19 in their plans, FWD does not. 

If you’re an FWD customer and want COVID-19 cover, you’ll have to purchase the COVID-19 Enhanced Travel Benefits add-on. Given the comparatively lightweight nature of the FWD Travel Insurance plan, this may prove to be a dealbreaker for some. 

Looking past that, which of the three insurers offer the highest COVID-19 coverage? MSIG came up ahead with a maximum of S$250,000 in coverage for overseas medical expenses, along with up to S$1,400 in overseas quarantine allowance. 

Singlife and FWD both provide slightly lower overseas medical cover of up to S$200,000. However, Singlife offers a quarantine allowance of up to S$2,000, whereas FWD only offers up to S$700. 

The other key benefit of COVID-19 coverage lies in the reimbursement for cancelling or curtailing your trip. Here, MSIG and FWD both offer up to S$5,000 in benefits, while Singlife lags behind with up to $2,000 in coverage.

Apply for Singlife's travel insurance now!

See Also: Travel Smart: A Guide to Claim Singlife Travel Insurance

Comparing trip cancellation or interruption

Trip cancellation or interruption coverage is a critical component of travel insurance, especially in uncertain times. 

When examining plans like Singlife, FWD, and MSIG travel insurance, it's essential to understand how each policy handles unforeseen changes to your travel plans. This comparison review will help you navigate the nuances of each travel insurance in terms of their trip cancellation or interruption benefits, ensuring you choose a plan that best safeguards your travel investments.

See Also: Best Travel Insurance for Trip & Flight Cancellation

What about regular, non-COVID-related trip cancellations, such as emergencies, death in the family or sudden illness?

In this area, Singlife takes the lead with up to S$20,000 in coverage for trip cancellations, while MISG and FWD come close with up to S$15,000 cover. All three insurers provide benefits if you need to postpone the commencement of your trip, ranging from up to S$3,000 for Singlife, up to S$2,000 for MSIG, and up to S$1,500 for FWD. 

However, should you be forced to cut your trip short and come back early, all three insurers cover you for up to S$15,000.

In terms of travel delays, Singlife offers the highest benefits of up to S$2,000, followed by MSIG at S$1,500 and FWD at S$1,000.

Both Singlife and FWD also offer a nifty feature that covers trip cancellations for any reason, up to S$5,000 and S$6,000, respectively. However, this is only available for FWD if you purchase the add-on.

Apply now for FWD's travel insurance!

Comparing luggage and personal belongings coverage

When travelling, the safety of your luggage and personal belongings is a top priority. 

In the comparison of Singlife vs FWD vs MSIG travel insurance, it's important to assess how each plan covers the loss, damage, or delay of personal items. 

This section focuses on the luggage and personal belongings coverage offered by these insurers, providing clarity on which plan might offer the best protection for your travel essentials.

For loss or damage to luggage, all three plans offer similar levels of benefits, with Singlife pulling slightly ahead with up to S$8,000 in coverage, while the other two insurers offer up to S$7,500. 

Delayed luggage is another (unfortunately too common) risk faced by travellers, so having higher coverage may prove useful. MSIG offers the highest rate of S$250 for every 6 hours your luggage is delayed, although the maximum payout is capped at S$1,500. 

Meanwhile, Singlife offers up to S$200 per 6-hour block (maximum of S$2,000), and FWD offers up to S$150 per 6-hour block (maximum of S$900).

In the case of lost passports or travel documents, Singlife and MSIG policyholders will be covered for up to S$5,000 in benefits. For FWD policyholders, the maximum cover is S$1,000. 

Fraudulent credit card use is also covered in all three plans, to the tune of S$3,000 for MSIG, and S$1,000 for both FWD and Singlife.

Comparing other features and optional add-ons 

Beyond the basic coverage, travel insurance plans often offer a range of additional features and optional add-ons that can tailor a policy to your specific needs. But which travel insurance add-ons are worth your money?

In reviewing and comparing Singlife, FWD, and MSIG travel insurance, it's important to consider these extra benefits. This comparison will highlight how each insurer's additional offerings, like coverage for adventurous activities or rental vehicle excess, can enhance your travel insurance package, making your Singlife vs FWD vs MSIG decision even more informed.

The most important difference here is that MSIG is the only insurer out of the three that covers pre-existing conditions. You’ll need to look for the TravelEasy Pre-Ex version, but this is only available for single trips not more than 30 days. 

Another difference is that MSIG doesn't have any optional add-ons. Instead, the plan includes even fairly niche benefits such as wedding clothes and golfing equipment cover. This may not sit well with those who do not believe in paying for insurance cover they do not need.

Rental vehicle excess is included by default in all three plans – up to S$2,500 for Singlife, up to S$1,500 for MSIG and up to S$1,000 for FWD. 

Home contents cover of up to S$15,000 is included by both Singlife and MSIG, whereas in FWD’s case, it’s available as an add-on.

Singlife, FWD or MSIG – Which one should you choose? 

Let’s quickly compare the premiums for these three plans, for a single-traveller, single-trip plan, over a 6-day trip. We’re picking the highest tier for each insurer, and going with the non-pre-ex version for MSIG.

Based on the trip parameters we chose, it appears that MSIG offers the best balance between cost and coverage, which is always the sweet spot we want to look for when it comes to insurance. That it also happens to be the most affordable option is just the icing on the cake.

Singlife offers some of the highest coverage limits, but you’ll need to pay a higher price. This caters to those who seek more thorough protection.

Alas, FWD took themselves out of the running by making COVID-19 cover a paid add-on, while offering a less robust suite of coverage and lower benefits in comparison. 

Otherwise, the lower cost of the plan might still have preserved the plan as a viable choice in the eyes of bargain hunters. 

Ultimately, the decision between Singlife, FWD, and MSIG travel insurance depends on your specific needs and budget. Compare the premium paid and the coverage you will get to ensure you are well-protected for any eventuality on your travels.