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Understanding Insurance in Singapore: Life, Health, and General Policies
Learn about the types of insurance in Singapore and how they can protect you, from MoneySense.
Insurance Basics in Singapore
Insurance can seem complicated, but getting the basics right helps you make informed decisions. According to MoneySense, a Singapore Government Agency website, it’s important to understand the various types of insurance policies in Singapore and how they can protect you before you buy any policy.
Types of Insurance
MoneySense outlines three main categories of insurance in Singapore:
- Life insurance
- Health insurance
- General insurance
How Insurance Works
Insurance policies help you cover your loss should something happen. What they cover depends on the specific policy you choose.
When you’re trying to figure out which type of insurance you need, your answer to key questions can lead you to the right kind of coverage.
MoneySense also offers tools to help you compare. For example, it allows you to compare the premiums and features of life insurance products available to the retail market in Singapore.
For general insurance, MoneySense helps you get up to speed on what’s covered and what isn’t in Singapore.
Conclusion
Understanding the different types of insurance and how they work is the first step to protecting yourself and your loved ones. Start by exploring the basics on MoneySense.