Insurance Basics in Singapore

Understanding Insurance in Singapore

Before you buy any policy, it is important to understand the various types of insurance policies in Singapore and how they can protect you. Insurance policies help you cover your loss should something happen – what they cover depends on the specific policy.

Types of Insurance Policies

There are several types of insurance policies available in Singapore, including:

• Life insurance – provides financial protection for your life.
• Health insurance – covers medical expenses and health-related costs.
• General insurance – covers non-life risks such as property, travel, and vehicle.

How Insurance Works

Insurance works by providing coverage for your losses, but the specifics depend on the policy you choose. Understanding your needs can lead you to the type of insurance you need.

Comparing Insurance Products

To compare life insurance products, you can use a tool that allows you to compare the premiums and features of life insurance products available to the retail market in Singapore.

For general insurance, you can get up to speed on what’s covered and what isn’t.