As we begin the new year with hopeful intentions, it matters that we follow through with the right plans for ourselves and loved ones. Starting the year off on the right foot can be indelibly important in setting the stage for a productive, healthy and prosperous year. This 2020 has highlighted the importance of having your security and safety in check – an aspect we commonly overlook and only pay attention to when we run into unprecedented problems. It’s time to change that, and one foolproof way to do so involves insurance planning. The Expat Insurance team in Singapore will be able to support you in this aspect.
Although insurance premiums understandably increase with age and other combined factors – such as pre-existing conditions – it’s still essential for you to understand the process. Knowing what to expect makes for better planning and decision making. Because it is a good idea to review existing policies yearly, there is no better time than now.
A health insurance broker’s guide
If you’re new or unsure about the process, we’ve compiled guiding questions for you. Knowing the right questions to ask can be instrumental to finding the right policy for you and your loved ones. What are some of the guiding pillars you should look to?
1. Understanding the insurance broker
Because you’ll be liaising with the insurance broker throughout the course of your policy, it’s prudent that you get along with them. Being able to ask questions comfortably, converse easily and effectively as well as verify their credentials and experience qualifies importantly in a checklist.
You could ask for referrals, check the range of experience they have as well as review available client testimonials and references wherever possible. Given its sensitivity, it’d be ideal to have a dedicated agent with whom you’ll be liaising with throughout. Going for an insurance broker that is dedicated to excellent customer service is pivotal to a smooth journey for you.
2. Consider the range of plans offered
Being able to have all your insurance needs secured with one agent keeps your affairs streamlined. It’ll be much easier for you to check on any pending issues or concerns that arise when all of your policies are registered with one broker.
That said, we recognise that it still comes down to preference. For instance, you may have already bought other insurance policies from another provider and are simply looking to add on a different plan. In this case, it will be useful to do your research in the range of plans the broker might be offering.
Expat Insurance Singapore offers tailored and general package plans for both corporations and individuals. The coverage spans across corporate policies such as employee benefits, group health and professional indemnity plan to individual term life and medical insurance policies.
3. Evaluate enrolment and update processes
If there’s one thing that catches up to you years later in your insurance profile, its processes. Years after purchasing a policy, you may find yourself needing to enquire on a certain aspect, a claim or simply need to reevaluate your plan. The ease of conducting this process is highly dependent on your insurance broker’s processes.
Are they hassle free? Easy to liaise with? How contactable is your agent? Figuring out how to communicate changes and developments as the market evolves is an essential touchpoint of the journey.
4. Check capacity for tailored or specialised plans
If you’re buying insurance plans for the company, it makes sense to check on their offerings for tailored or specific plans. A broker who is able to offer varying segments of insurance policies is one that might be more convenient to liaise with, especially if it’s corporation-wide. Check if they offer underwriting experts and bundled packages to cater to specialised businesses or smaller start-ups.
Consult Expat Insurance Singapore for health cover options
As a leading insurance broker in Singapore, Expat Insurance Singapore can offer a wide range of health cover options – for expats and locals alike. With variants of business insurance plans, corporations can also purchase their policies here. Seek the expert help of our team of insurance brokers to see what type of policies best meet your needs.