‘Best’ Travel Insurance for your next holiday?

Dear friend,
When you don’t have travel insurance…it could hurt you right in your pocket as unforeseen events such as accidents and sickness can happen and they do happen.Because if we are uninsured, every dollar in potential medical expenses due to accidents or additional expenses due to travelling inconveniences or personal liability to third parties would have to be paid out of our own pocket.

Some people think that basic medical care in Southeast Asia should be relatively cheap and hence skip the need for travel insurance.

My advice is do not think of the price of the basic healthcare, it’s only cheap for the citizens of each country and the next question to ask ourselves is, what is your definition of basic healthcare?

Please realise that 1) as foreigners, we would be charged higher rates and 2) as Singaporeans, we are used to a high standard of medical care which is often only available in private hospitals overseas. i.e. a few nights in private hospital overseas can get expensive fast, and longer stays in hospitals for accidents related injury can easily run into tens of thousands of dollars.

The good news is: travel insurance is a solution to help reimburse you for potential medical bills in the event of sickness and injury overseas and can cover you for medical necessary medical expenses even when you return to SG. Not only do you gain peace of mind, your family and friends back home would enjoy this peace of mind too.

Besides medical care, travel insurance also covers:

  • travelling inconveniences such as damage to baggage and personal effects
  • loss of travel document and money
  • trip cancellation, trip disruption and trip curtailment due to insured events such as serious sickness that requires hospitalisation for at least 24 hours
  • financial collapse of licensed tour operators
  • cash benefits for travel delay and baggage delay
  • personal liability
  • Touchwood, funeral expenses
  • evacuation back to SG

However not all travel insurance polices are the same. You have to read the policy wording carefully, especially the terms and conditions, the exclusions and what can be claimed under various scenarios. For example, not all travel insurance covers dangerous activities such as hot-air ballooning and scuba diving. Not all travel insurance covers FULL terrorism, only a few do. So for your travel insurance needs, please call Claire at 8168 7459 for advice and promotions on travel insurance. finexis works with 22 general insurance firms and we can help you do the homework of comparing various solutions and advise you based on our needs.

A personal story:
For my holiday to Gold Coast last year, the Qantas plane had a mechanical breakdown that lasted 10 hours for the return flight. Thankfully, I can claim for flight delay with Tenet TravelJoy and this cash benefit actually offset my taxi fare when I arrived at 4am SG time . This money allows me to grab a cab and just get home and relax after a tense 10 hours of waiting for the flight.
While having travel insurance won’t make unforeseen events go away, it does make it easier for us to deal with them because we have assurance that we are financially protected for such scenarios.

Lesson learned.
From now on, when you buy the flight tickets, please call Claire to advise you and help you buy the travel insurance plan based on your holiday adventure and budget.

Thank you for reading my humble opinion on travel insurance.

Best regards
Claire Soh

Senior Financial Consultant


Claire Soh is available on a limited basis to help you save time, money and efforts on your wealth creation and wealth preservation.

I recommend you call for a financial analysis of your current situation first. Just let Claire know your age, gender, and types of financial concerns you have and if Claire is available to take on your case, she’ll tailor a package of wealth management solutions to fit your financial goals.

Call Claire now at 8168 7459 to arrange a convenient date and time or email your query to clairemh.soh@gmail.com.

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Nothing in this material constitutes personalized investment advice. Information provided here should not be considered as advice or as an offer or enticement to buy or sell or trade. The contents of this material, including any financial data, information, opinions and analysis, are strictly intended for educational use only.

No guarantees are made as to the accuracy of the information provided herein. You shouldn’t make any investment decision based solely on what you read here.

It’s your money and your responsibility. And please consult your financial consultant or call Claire Soh at 8168 7459 before investing in any investment or insurance.

Should you choose not to seek such advice, you should consider whether the investment or insurance product in question is suitable for you.

Contents © 2014 Claire Soh. All Rights Reserved.









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