We are still reeling from the turmoil that 2020 brought to our lives. Some or the other way we all are affected by the pandemic. In 2021 too, the after-shocks of 2020 are continuing to affect us financially, economically and health wise.

Health and Life Insurance

This tumultuous period has highlighted one thing bold and clear and that is – We have to ensure that we take utmost care of our health and life. Health is Wealth should make even more sense now. If you are a parent then this responsibility multiplies because not only yours but you have to safeguard your children as well. If we haven’t carefully given a thought to Health and Life Insurance before, NOW is the time. 

When it comes to Health Insurance and Life Insurance, there are a lot of technical terms, procedures are involved and it might not be simple for a layperson to zero down a great policy that will serve him / her the best. Thankfully, Sites like Moneysmart always come to the rescue and facilitate better decision making.

Whether you are looking to get started with your Life / Health Insurance journey or you are considering more policies or upgrades, Moneysmart has a comprehensive list of many options. You can compare and choose the one that suits your requirements the best.

Do we really need Health Insurance in Singapore?

Health and Life Insurance

No matter which country we are based in, Health Insurance has to be one of the necessities to lead a secured life. No one knows what lies ahead and it’s very important to secure yourself and your family from any health-related emergencies. Covid-19 has proved the fragility of life. Millions have suffered from the disease and there is a huge loss of lives too. 

Even in Singapore, we have seen thousands of infections and a few dozens of deaths. Health Insurance ensures that in case of any health related crisis, we have something to fall back on and we can rely on it for quality treatments to recover. Medical Treatments and procedures  are costly and many can’t even afford them. Health Insurance definitely provides a cushion in the difficult time of health. The point is – it’s best to have a Health Insurance that gives a complete peace of mind.

Every working Singaporean and Permanent Resident would have some money in their Medisave accounts. A part of your CPF savings, Medisave is basically a repository of funds to be used for healthcare costs. Having said that there are withdrawal limits that apply to specific medical bill components. Also, any amount above the Medisave limits – including costs like lab tests that don’t fall under the Medisave umbrella – will need to be paid out of your pocket. So yes, definitely, it’s much needed that we get a health insurance policy.

There is a great write-up that makes all the nitty-gritty of Health Insurance easy for us to understand. Do check it out.

Health Insurance for Foreigners in Singapore

If you are a foreign expat / dependent living in Singapore, it’s highly recommended that you should consider buying Health Insurance to protect yourself and your family from unexpected health crisis.

Moneysmart has several options of Health Insurance for locals, expats and even International Health insurance.

Compare the Best Health Insurance Plans and Choose the One that’s for you

Health and Life Insurance

Moneysmart website provides thorough list of the best Health Insurance providers and you can read more about each one of them, do comparisons and even get a quote.

Life Insurance in Singapore

Just like health insurance, it wouldn’t be incorrect to say that Life Insurance is an essential. Especially, amidst the mayhem of Covid-19, the importance of having Life Insurance of yourself and your family is underlined even more. 

When it comes to Life Insurance, there might be many questions that arise in the minds of people. While we understand the significance of Life Insurance, how to get started and which policy to choose is something not so straightforward and can lead to confusion thereby delaying the decision of getting a right Life Insurance policy.

Personally, for my family, I have referred to Moneysmart to make the seamless choice for myself and loved ones.

Whole Life or Term Life Insurance

What is Life Insurance or should we opt for Term Insurance? We have to understand the basics first. I referred to this article and that made things clear to understand.

Simply putting, a life insurance policy is designed in such a way that after death, the insurer’s payout should be enough for the dependents to live on. Whole Life Insurance goes usually up to end of life and Term Life Insurance covers a specific term period or up to a specific age.

We also have to look at the Insurance premiums and affordability of them. Many of us might not be able to fork out amount beyond a certain limit. Thankfully, there are some of the Best Term Insurance Policies in Singapore for Affordable Protection. 

Health and Life Insurance

  • Moneysmart website offers very intuitive interface and it’s a breeze to navigate. We just have to visit the site, search for Life Insurance and the results are up! 

  • You can check the suggested options by the site and compare. Getting a Quote is just one click away.

Health and Life Insurance

  • Refine your search with easy filters.

We have relied on Moneysmart to get easy to understand suggestions. Their site has lots of helpful resources to simplify the jargon of Insurance for us.


Health and Life Insurance should be a mandatory part of our life because they offer protection against health hazards and any untowardly incidents. It’s like an investment for a better future of yourself and your loved ones. Covid-19 pandemic has reemphasized the crucial fact that health is wealth and Life insurance is like a “love insurance” that helps to leave a legacy for loved ones. Do you agree? Which Health and Life Insurance policies you rely on? Do tell us in comments.


 

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