Wondering which card is better for overseas use - Trust card vs YouTrip? We compared the fees and exchange rates and also included an alternative option Wise
Travel may not be what it used to, but travel insurance is one way to safeguard against unexpected situations. It is a way to not only have some peace of mind during a new trip but also to get bills covered or compensated from unforeseen events like medical emergencies or flight cancellations. And now there are even more packages, perks, and add-ons to make travel insurance fit your specific needs.
Let’s take a look at the best options for travel insurance in Singapore and dive into what makes them similar and different. Read on to see which travel insurance would be the right fit for your next holiday.
Make your next holiday abroad easier with Wise’s multi-currency card. It is a multi-currency account that you can use as a normal debit card in over 40+ local currencies. Just load up your free online account through the app, and you can spend without paying any additional fees. Plus free cash withdrawals up to S$ 350 at any ATM around the world. Sign up now and make payments a breeze while you are overseas.
NTUC Income doesn’t have the most extensive options of the group, but it can be a good option for those with big families or those who prefer Chinese medicine practitioners.
With NTUC Income, you can get coverage for all trips that start and end in Singapore, either as a single trip or an annual multi-trip package. NTUC Income’s travel insurance comes in Classic, Deluxe, and Preferred packages. And each package has an individual option or a family option. For families that are traveling, it is required that everyone within coverage travels together to get the full single trip coverage. If you are looking for more flexibility or if you have a form of pre-existing conditions, you can also look at their EnhancedPreX Plan.¹
MSIG’s travel insurance plans offer you flexibility and coverage for even those with qualifying pre-existing medical conditions. And if you are a student, you can get covered too with travel insurance through MSIG for when you study overseas.
MSIG offers different plans for the type of traveler you are. You can buy a regular Travel Easy plan, TravelEasy Pre-Ex for those with pre-existing conditions, or Global Study for students. With either TravelEasy plan, you can get up to S$1,00,000 in coverage for overseas medical expenses if you’re under 70, and up to S$500,000 for personal accident insurance. If you are traveling as a family, TravelEasy covers families up to a total number of 7 people. And as a student, you can get 1 month to 12 months of coverage for however long your course or program is. An additional perk with the TravelEasy plan is that you can get coverage for even adventures that take you dog sledding, tobogganing, sledging or ice-skating.²
AXA’s Smart Traveller is a strong option if you are looking for more of a standard travel insurance. There are limited perks for families and none for those with pre-existing conditions, but there is high individual overseas medical coverage.
AXA’s Smart Traveller Insurance only offers two plans, the Essential and the Comprehensive. The Comprehensive has everything the Essential does but just with extended coverage. The AXA Smart traveler policy does cover travel inconveniences and loss of personal belongings, personal accidents, emergency medical evacuation, and adventurous activities. You can get a quick quote from the AXA Smart Traveller website and see if you want add-ons like coverage for pets or sports equipment.³
You have an option to choose from 3 different plans with Aviva, as well as add-ons to your policy. But unlike other policies, adventure travel does not come included.
Aviva Travel Insurance offers 3 different travel insurance packages, Travel Lite, Travel Plus, and Travel Prestige. Travel Prestige has the highest coverage and protection, while Travel Lite is a standard package, with Travel Plus falling in between. Travel Lite covers your overseas medical and personal accident expenses, while the other two also offer insurance for trip date changes. Unlike other companies, Travel Prestige offers unlimited overseas medical coverage. Aviva also offers add-ons for an overseas wedding, golf holiday, winter sports like skiing and adventurous activities. You can get an immediate and no-obligation quote right from the website to get started.⁴
DirectAsia offers a few additional perks and add-ons that can’t be found elsewhere, but otherwise, their packages aren’t suitable for people that are looking for medical coverage above S$500,000.
DirectAsia offers 4 different travel insurance plans across their single trip or annual options. The most coverage, DA 1000, however, is only available under the annual option. Single trips are capped at a max of 182 days, while trips within an annual plan are capped at 90 days per trip. Beyond the standard overseas medical coverage, accident, and loss of baggage, DirectAsia travel insurance also will pay for a family member to be with you if you are alone and hospitalized abroad for more than 5 days. You can also buy additions to your coverage such as for sports equipment, extreme sports and activities, as well as coverage for maids.⁵
Want to stay safe as you travel? Then leave carrying currencies in cash behind, and check out Wise’s multi-currency card. It is a multi-currency account from Wise that lets you spend across the globe. In this free account, you can hold over 40 currencies at one time, and then send, swipe or spend as you like.
How it works is that once you have signed up for the borderless multi-currency account and gotten your multi-currency card, you can purchase into 40+ currencies from your Wise account online. Or through the Wise award-winning app. Then when you find yourself in Thailand, or Europe or Mexico, and you swipe the card locally or draw cash from an ATM the card will draw from the respective currency in your account.
But say you’d rather shop from Qoo10 or Amazon in the US, you can buy straight from your Wise account. The only cost will be a small transfer fee when you buy from Singapore dollars into the currency. You will always get the mid-market exchange rate, which is the transparent rate banks use and the one you see on Google, on every exchange. And it is all done digitally with smart technology, to make things easy, fast, safe, and secure for your travels abroad or just on the internet at home.
- NTUC Income Travel Insurance
- MSIG Travel Insurance
- AXA Travel Insurance
- Aviva Travel Insurance
- DirectAsia Travel Insurance
All sources checked as of 11 June, 2020
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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