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Travel Insurance Singapore Guide (2024): Must-Knows for Choosing the Best Travel Insurance

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Travelling is a favourite Singaporean pastime. A national sport, if you will. But while we all love travel and wanderlust, most of us don’t give much thought to buying travel insurance .

Buying travel insurance in Singapore is something a lot of us take for granted. Few of us bother to buy travel insurance ahead of time, and even fewer compare policies to find the best travel insurance in Singapore .

Here is everything you should look out for before buying travel insurance in Singapore.

Key features to look out for in travel insurance

  • What does travel insurance cover?
  • How to choose travel insurance
  • Travel insurance prices
  • Best travel insurance in Singapore
  • Common mistakes when buying travel insurance
  • Travelling with pre-existing health conditions 
  • When should I buy travel insurance?
  • Single trip or annual travel insurance?
  • Compare travel insurance before buying

1. What does travel insurance cover you for?

A good travel insurance policy covers you for a whole series of situations, from the small inconveniences to the most terrible.

Trust me, you never want to be in a situation that you’re not covered for.

It could be a minor inconvenience, like having your luggage delayed and being forced to spend  at least one night in the same clothes you wore on the entire flight. Or it could be a serious medical emergency, like getting stung badly by jellyfish in the middle of a remote island adventure and needing immediate medical attention.

travel-insurance-singapore-guide-what-does-travel-insurance-cover

These days, almost all travel insurance in Singapore automatically includes COVID-19 coverage. That means, you’ll be able to claim from your travel insurance if you get Covid-19 while travelling .

You should also have coverage for everything from lost and delayed luggage, flight delays and cancellations, all the way to medical treatment, medical evacuation and even repatriation in case of serious illness and death. All these different situations have different claim limits, of course.

Travel insurance also covers things like reimbursing deposits if your travel agent goes bust, if your credit card is used fraudulently overseas, or if you  damage your rental car . Some policies even pay you if you are kidnapped while overseas!  And the best part is that travel insurance is relatively cheap and convenient to buy.

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2. How to choose travel insurance

With so many different benefits in a travel insurance plan, it can be tough to decide if a particular travel insurance plan is worth your money. You should look out for how much you are reimbursed for common travel hiccups.

travel-insurance-singapore-guide-flight-delay

  • Find a travel insurance that covers flight delays and cancellations:  Flight delays happen more often than you realise. They can be extremely inconvenient, especially if it ends up causing you to miss your connecting flight. Ensure that your policy covers you for a decent period of time. For example, if your flight is delayed, some policies pay you $100 for every 6 consecutive hours of delay. There’s usually a cap of around $200-$500, but if you want more coverage DirectAsia Voyager 150 pays out up to $1,000 for travel delay.

DirectAsia logo

Total Premium

DirectAsia Voyager 150

[ Win a Rolex, Samsonite Luggage & More!   | FLASH DEAL]    • Enjoy 40% off your policy premium • Receive up to S$25  via PayNow and up to S$20 iShopChangi e-voucher with eligible premiums spent. T&Cs apply.    BONUS: For a limited time only, there are over   S$11,000 worth of prizes  to be given away in our Grand Draw . Stand a chance to score: • 1x   Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000) • 1x   Samsonite Robez 68/25 EXP  (worth S$550) weekly    Increase your chances of winning when you refer friends  today. T&Cs apply

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Key Features

Additional coverage for Travel Insurance - Sports equipment, Maid and COVID-19. Extreme Sports add-on only available for Annual Plans.

Kids go free – up to four kids travel for free with a Family policy only (2 adults)

Matching kids limits – children enjoy the same coverage limits as adults

Emergency Dental – Accidental Dental treatment can be costly, so it is covered under the main medical expenses coverage which is higher than a separate dental benefit

Optional COVID-19 coverage on trip cancellation, medical expense, and emergency evacuation. Only for Single Trip.

  • Lost   or delayed baggage:  Make sure your policy covers you well for such situations. Many policies pay $100 for every 6 consecutive hours your baggage is delayed, including Bubblegum Travel Insurance  which pays up to $3,000 for lost or damaged baggage. Don’t forget to also pay attention to the maximum amount you’re covered for.

Bubblegum logo

Bubblegum Travel Insurance

[Receive your cash as fast as 30 days*]    • Enjoy 10% off your policy premium • Get an Eskimo Global 1GB eSIM with every policy purchased. • Additionally, receive up to S$25  via PayNow and up to S$20 iShopChangi e-voucher with eligible premiums spent.  T&Cs apply.

maybank singapore travel insurance

Bubblegum offers just 1 affordable plan to suit all your travel needs to maximise your savings

Overseas medical expenses up to $150,000 SGD (Covid-19 sub-limit of $65,000 included)

24-Hour global Emergency Assistance services including Emergency Medical Evacuation and Repatriation

Covid-19 trip related cancellation/curtailment up to $600 SGD included

Adventurous activities like scuba diving and hot air ballooning are covered with no limit on depth or height.

  • Medical coverage overseas: Since you can never predict what might happen on your trip, it literally pays to be safe than sorry. A good travel insurance policy covers you for at least $200,000 for overseas medical coverage and unlimited coverage for emergency medical evacuation and repatriation. One value-for-money insurance policy that fits the bill is  Starr TraveLead Comprehensive Bronze .

Starr logo

Starr TraveLead Comprehensive Bronze

[ Win a Rolex, Samsonite Luggage & More!   | FLASH DEAL]   • Enjoy 50% off your policy premium • Get an Eskimo Global 1GB eSIM with every policy purchased. • Additionally, receive up to S$50 via PayNow OR 1 x Apple AirTag (worth S$45.40) and up to S$20 iShopChangi e-voucher with eligible premiums spent.  T&Cs apply.    BONUS: For a limited time only, there are over   S$11,000 worth of prizes  to be given away in our Grand Draw . Stand a chance to score: • 1x   Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000) • 1x   Samsonite Robez 68/25 EXP  (worth S$550) weekly    Increase your chances of winning when you refer friends  today. T&Cs apply

maybank singapore travel insurance

For Cruise to nowhere insurance: Find out more here

Personalise your travel insurance-Flexible coverage allows you to create a travel insurance plan with different types of coverage and addon that can adapt to your needs

Overseas Covid-19 related medical expenses of up to $15,000 SGD included (Excluding China).

No sublimit or restriction on outpatient expenses and number of visits

24 hours Global Emergency Assistance Services help you when you need it most, connecting you with medical treatment and transportation

Seamless and Cashless claims via PayNow

Covers travel expenses for sending back an unattended child during the hospitalisation of the insured person

Please note that travelling to Russia and Ukraine is not covered in Starr’s insurance with immediate effect.

  • Travel insurance with COVID-19 coverage:  Ideally, your policy should offer coverage for a range of COVID-19 expenses you might encounter during your travels (and even before you fly!). Look out for the travel insurance policies’ coverage for trip cancellation and postponement and medical expenses due to Covid-19. Overseas quarantine cash allowance is an added bonus. For example,  AIG Travel Guard® Direct – Enhanced covers $100 per day for 14 days if you’re quarantined overseas due to COVID-19.

AIG logo

AIG Travel Guard® Direct - Enhanced

[Receive your cash as fast as 30 days*]    • Get up to S$220 worth of cash and rewards with eligible premiums spent. • Additionally, receive an Eskimo Global 1GB eSIM with every policy purchased.  T&Cs apply.

maybank singapore travel insurance

Voted TripZilla's Best Travel Insurance (Single Trip).

Up to S$250,000 in overseas COVID-19 related medical coverage if you are diagnosed with COVID-19 overseas.

Overseas quarantine allowance of up to S$100 per day per person for up to 14 days if you test positive for COVID-19 overseas and are unexpectedly placed into mandatory quarantine.

Up to S$1,500 if you are diagnosed with COVID-19 and have to postpone your trip.

Up to S$7,500 in curtailment costs if you are diagnosed with COVID-19 while travelling and need to return to Singapore earlier than planned.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact AIG Asia Pacific Insurance Pte. Ltd. or visit the AIG, GIA or SDIC websites (www.AIG.sg or www.gia.org.sg or www.sdic.org.sg).

Purchase your travel insurance with confidence and enjoy unlimited flexibility with AIG's Travel Guard® Direct

3. Travel insurance prices in Singapore

Travel insurance in Singapore is very price-sensitive, and sometimes insurers can compete to shave off even $1 from their premiums to make their policies more enticing (yay for us!).

travel-insurance-singapore-guide-prices

One way to get a cheaper plan is to see which insurers offer regional travel insurance . If you are only travelling to Thailand, for example, it is usually cheaper to get a policy that covers only SEA or ASEAN countries, rather than a worldwide coverage policy .

However, price is not the only factor—especially since cheap insurance policies often mean significantly less coverage. Buying travel insurance is not like buying a “warehouse sale” LV bag in Chatuchak Market. You don’t just shop around, look for the stall owner with the weakest bargaining skills, and haggle the price down as low as can get.

Look at other aspects of the policy when buying travel insurance . There are many other factors to consider—for example, how much coverage you’re eligible for, and how quickly your claims can be processed. Make sure that you don’t have to wait till the next blue moon before you can see the results of your claims.

4. Which travel insurance to buy in Singapore?

Like anything else you purchase, the best travel insurance is what gives you the most value for money. Say you are only travelling to Thailand for a weekend shopping trip, for example. You’re probably travelling light and don’t need more than $3,000 coverage for loss of baggage, even if you can pay just $3 more for significantly more coverage. Save that $3 and treat yourself to all the Thai milk tea you can drink!

As we said earlier, you shouldn’t be so stingy  and only buy the cheapest. The cheapest may have lots of terms and conditions when it comes to claims . For example, an insurer might not cover delayed luggage if it is only delayed returning to Singapore. If this is the only inconvenience you face in your entire trip, you might be understandably upset that it’s not claimable.

The important thing is to read the terms and conditions of your preferred policy carefully and make sure you’re not caught unawares. This is especially important when it comes to medical pre-existing conditions.

5. Common mistakes when buying travel insurance

How many of us actually know how to go about buying a good travel insurance that is suitable for our needs? Here are five common mistakes to avoid when buying travel insurance:

  • Buying the most “convenient” travel insurance : Do you just buy the first travel insurance you see on Google? It is important to read the details of the coverage provided to see if they are adequate for your needs or to cover the risks of the destination you’re travelling to, eg. medical coverage and loss of personal belongings.
  • Buying travel insurance at the last minute : Do you often buy your travel insurance when waiting to board your flight or while making your way to the airport? Yes, better late than never. However, you should be aware that some of the benefits of the travel insurance are applicable (eg. natural disasters , airline strike, tour agency bankruptcy) if you buy travel insurance ahead of your trip.
  • Not buying travel insurance for the entire length of your trip : Should you purchase travel insurance only for the days you are actually overseas? No. You should include flights to and from your holiday destination. In the event of baggage delays, loss or damage, or overbooking of flights, you’d then be able to make a claim. For long haul trips, do remember to cater for the +1 or +2 days that it takes for your flight to reach Singapore.
  • Not reading your travel insurance policy : Not all travel insurances are created equal. In fact, the policy document and terms of coverage makes for rather interesting reading. Do go through the policy document for what’s included and excluded, claim limits, and what you gotta do in order to make a claim.
  • Assuming travel insurance is “one size fits all” : If your holiday includes adventurous elements like skydiving or scuba diving, check to ensure that the travel insurance you are considering covers these activities. MSIG TravelEasy Elite covers a whole range of activities, including sky diving, hot air ballon rides, and bungee jumping. Alternatively, check to ensure that adventurous activities are not excluded from the claims.

MSIG logo

MSIG TravelEasy Elite

[ Win a Rolex, Samsonite Luggage & More!   | MoneySmart Exclusive]     • Enjoy up to 40% off your policy premium • Get an Eskimo Global 1GB eSIM with every policy purchased. • Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) and  up to S$20 iShopChangi e-voucher with eligible premiums spent.  T&Cs apply.     BONUS: For a limited time only, there are over   S$11,000 worth of prizes  to be given away in our Grand Draw . Stand a chance to score: • 1x   Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000) • 1x   Samsonite Robez 68/25 EXP  (worth S$550) weekly     Increase your chances of winning when you refer friends  today. T&Cs apply

maybank singapore travel insurance

COVID-19 coverage of up to $300,000 medical cover and up to $5,000 travel inconvenience benefit for your trip protection.

Stay protected and enjoy a wide range of adventurous activities from sky diving, scuba diving, white-water rafting to winter sports like dog sledding, tobogganing, sledging and ice-skating.

Get covered across all TravelEasy Plan types with a high limit of S$1,000,000 for emergency medical evacuation & repatriation

MSIG provides cover for insolvency of licensed travel agencies registered with the Singapore Tourism Board (includes NATAS registered travel agencies)

6. Will pre-existing conditions affect my travel insurance?

One of the biggest travel insurance stories in 2017 was when a Singaporean man had a heart attack in Tokyo and fell into a coma. The medical costs alone cost $120,000 and bringing him back to Singapore via medical evacuation would cost another $120,000.

Because the man had been diagnosed with heart failure in 2012, his insurer considered it a pre-existing condition and therefore no claim was possible. Currently, one insurer that covers pre-existing conditions is MSIG TravelEasy Pre-Ex travel insurance.

MSIG TravelEasy Pre-Ex Standard

travel-insurance-singapore-guide

7. When should I buy travel insurance?

There are many, many things that can go wrong when you’re travelling. Half of these things could happen even before you leave the country!

Waiting to buy your travel insurance policy on the day you travel (or worse, after you’ve already crossed into international waters) puts you at risk for travel inconveniences big and small like delays or postponement.

A good travel insurance policy also covers you for your entire trip being cancelled unexpectedly.

You should buy a travel insurance online as soon as you’ve planned your trip. Getting your travel policy as early as possible does not make you “ kiasu ”. It makes you smart.

This is because you’ll want to maximise the coverage you can get from the policy. For example, if you haven’t bought a policy yet and the travel agency you’re booking with closes down a week before your travel, you won’t be able to claim anything. The same goes for flight delays and flight cancellations.

travel-insurance-singapore-guide-when-to-buy

There is no penalty for buying travel insurance earlier, except maybe missing out on promotions that often happen around the travel season. But what’s the point of saving a few dollars and risk losing hundreds due to cancelled flights and hotel deposits?

8. Buy single trip or annual travel insurance?

In the past, it made more sense to buy single trip travel insurance plans when you leave Singapore. That’s because in the past, most people only travel once or twice a year. With the greater nomad and remote working culture … and travels over long weekend, though? It might actually be more convenient to buy an annual plan for your travel insurance.

A good gauge to determine whether to choose between a single trip plan and an annual plan is to ask yourself if you’re going to be travelling more than 3 times a year . And we’re not just talking about weekend getaways either!

Whether you’re just going across the Causeway or travelling further overseas for work, an annual plan definitely makes more sense to your wallet.

travel-insurance-singapore-guide-single-trip-vs-annual-plan

Depending on how often you travel and how far you travel, it might be worthwhile to consider buying annual travel insurance .

If you are a frequent traveller, you not only save money by buying an annual policy, but you’ll never have to spend time buying insurance every time you fly overseas. Of course, just like single trip travel insurance, you should still compare the various policies online before you commit.

Annual travel insurance has a flat premium and covers you for an entire year of travel. It usually costs about $200-$300 a year, so only buy it it you are a frequent traveller. That is, it only makes sense if you are going to travel overseas more than 7-8 times a year, at least.

9. Why should I compare travel insurance before buying it?

Comparing allows you to choose the best travel insurance policy for your needs. You’ll be able to see at a glance what coverage policies have for various situations, such as medical costs, and compensation levels for lost, delayed and damaged baggage.

But of course, comparing travel insurance in Singapore allows you to see that the cheapest travel insurance policy may not be the best. This is because the cheaper policies usually have significantly less coverage, naturally. While that may be a good thing for some travellers – there’s no need to get a $1,000 coverage for lost luggage if you’re only bringing the bare minimum to a staycation in Bangkok, for example.

ALSO READ: Best Travel Insurance in Singapore: AIG vs AXA vs FWD vs NTUC

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Are you headed overseas? Compare the cheapest travel insurance here .

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Maybank and Etiqa Singapore offer complimentary COVID-19 and dengue fever special insurance coverage to all customers

Maybank and Etiqa Singapore offer complimentary COVID-19 and dengue fever special insurance coverage to all customers

SINGAPORE , Feb. 25, 2020 /PRNewswire/ -- In light of the on-going threat of the Coronavirus Disease 2019 (COVID-19) and recent developments and rise of dengue fever cases in Singapore , Maybank and its insurance arm Etiqa Singapore are stepping up and pledging to provide a 30-day special insurance cover [1] to all eligible customers of Maybank and Etiqa Singapore, free of charge.

Available for enrolment online from 26 February till 20 March, the special coverage provides a lump sum S$3,000 Diagnosis Benefit if the customer is diagnosed with the Coronavirus Disease (COVID-19) or dengue fever. The 30-day complimentary cover commences on the date of successful enrolment and will expire automatically on the 30 th day of enrolment, or upon maximum payout.

In the event that the customer is diagnosed with both COVID-19 and dengue fever within the 30-day coverage period, Etiqa is providing a lump sum payout of S$3,000 each. The total maximum payable amount is S$6,000 per eligible customer.

Customers who wish to continue their coverage beyond the 30-day complimentary coverage period may consider purchasing an enhanced personal accident policy from Etiqa for an extended cover for COVID-19 and dengue fever.

Sue Chi Kong , Chief Executive Officer of Etiqa Singapore said, "The health and well-being of our customers, people and community is important to us. In view of the fast - evolving situations with the coronavirus and the mosquito-borne dengue disease, we are committed to supporting our people during this challenging period."

"We believe this special COVID-19 and dengue fever cover, in addition to the Financial Assistance Benefit we rolled out earlier for our eligible life customers, will provide adequate protection and assurance to our people. In the unfortunate event in which they catch either or both virus and/or disease, their financial impact can be minimised so they can maintain their normal lifestyles as much as possible," added Sue.

For more information, please visit www.etiqa.com.sg .

About Maybank Singapore

Maybank is among Asia's leading banking groups and South East Asia's fourth largest bank by assets. Maybank Group has an international network of 2,600 retail branches in 18 countries including all 10 ASEAN countries, with 43,000 employees serving customers worldwide. Maybank Singapore is one of the Group's largest overseas operations and a Qualifying Full Bank in Singapore . As at 31 December 2018 , the bank's net asset size in Singapore was approximately S$73.3 billion . With strategically located banking branches and over 2,000 employees in Singapore , Maybank is well-positioned to provide highly personalised services and locally-oriented solutions that will deliver more value to customers. For more information, please visit maybank2u.com.sg.

Etiqa Insurance - A Singapore Insurance Company with Asian and International Expertise

Protecting customers since 1961, Etiqa is a licensed life and general insurance company registered in the Republic of Singapore . We are regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act.

With a comprehensive suite of protection, savings, retirement and legacy planning solutions, we are committed to helping our customers plan for a better future. Rated 'A' by Fitch in April 2019 for our financial strength and stable outlook, we humanise insurance by placing people over policies.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia , and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.

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Travel insurance Singapore with Covid 19 Add ons | Tiq Singapore

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The Ministry of Foreign Affairs has put up a travel advisory against non-essential travel to Israel and Palestinian Territories in view of the ongoing conflict. If you have purchased a Tiq Travel policy... Before 07 October for travel to Israel and Palestinian Territories and do not wish to travel at this point in time • You may cancel the trip and file for trip cancellation / trip postponement Before 07 October for travel to Israel and Palestinian Territories and are already in Israel and Palestinian Territories at this point in time • You will still be covered for benefits like Travel Delay, Baggage Delay, Flight Diversion, Trip Curtailment After 07 October for travel to Israel and Palestinian Territories • There will be no coverage as the ongoing conflict is a known event

Travel Advisory

The Ministry of Foreign Affairs has put up a travel advisory against non-essential travel to  Israel  and  Palestinian Territories  in view of the ongoing conflict. If you have purchased a Travel Infinite policy…

Before 07 October 2023 for travel to Israel and Palestinian Territories and do not wish to travel at this point in time • You may cancel the trip and file for trip cancellation / trip postponement

Before 07 October 2023 for travel to Israel and Palestinian Territories and are already in Israel and Palestinian Territories at this point in time • You will still be covered for benefits like Travel Delay, Baggage Delay, Flight Diversion, Trip Curtailment

After 07 October 2023 for travel to Israel and Palestinian Territories • There will be no coverage as the ongoing conflict is a known event

Please note that all claims are subject to Policy terms and conditions.

Before 03 April 2024 for travel to Taiwan and do not wish to travel at this point in time • You may file claim for trip cancellation / trip postponement.

Before 03 April 2024 for travel to Taiwan and are already in Taiwan at this point in time • You may file claim for benefits like Travel Delay, Baggage Delay, Flight Diversion, Trip Curtailment.

On or After 03 April 2024 for travel to Taiwan • There will be no coverage as the ongoing conflict is a known event.

Please note that all claims are subject to Policy terms and conditions.

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Why Tiq Travel Insurance?

More value-added services specially for you, what are the covid-19 add-on coverages new.

We know that you are eager to travel, and we want to ensure that you are well covered against COVID-19.

With our COVID-19 add-on, power up your travel insurance coverage as we cover you comprehensively before you start your overseas trip, during and after you come back to Singapore.

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Before your trip

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During your trip

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After your trip

Benefits are provided in the event if you are diagnosed with COVID-19

Travel delay? No sweat with automated flight delay benefit!

Input your flight details when purchasing

Get paid upon a 3-hour flight delay, even without a submitting claim

Receive payout in your eWallet and encash via PayNow

Watch this video to learn more!

What are Pre-Existing Medical Conditions?

If you have a medical illness or injury before your trip, it may be considered as a pre-existing medical condition. Please note that most travel insurers do not cover claims resulting from pre-existing medical conditions while you're overseas. Thankfully, we do.

Example of pre-existing medical conditions

Non pre-ex plans, view pre-ex plan, don’t worry, we’ll wait for you.

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Let us know when your policy ends and we’ll send you a reminder to switch to Tiq by Etiqa Insurance. Set. Relax. No Regrets!

Frequently Asked Questions

No, your period of insurance must include your entire trip from the date of departure from Singapore to the date of arrival in Singapore.

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This policy is underwritten by Etiqa Insurance Pte. Ltd . This content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract. This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the GIA/LIA or SDIC web-sites ( www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg ). Information is accurate as at 23 May 2024.

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Maybank q1 2024 net profit rises by 9.8% to myr2.49bn.

Maybank, Southeast Asia’s fourth largest bank by assets, reports a first quarter 9.8% increase in net profit to MYR2.49bn ($528.8m). Profit before tax rises by 12.6% y-o-y to MYR3.44bn.

Highlights include a 79.2% y-o-y increase in non-interest income to MYR2.74bn boosted by improved core fees which rose 17.3% as well as better investment & trading income.

On the other hand, net interest margin dips by 19 basis points y-o-y as a result of higher funding cost across its home markets.

President & Group CEO, Khairussaleh Ramlisaid that the first quarter earnings are supported by robust topline, good deposit growth and stable asset quality.

“We remain resolute, adapting and advancing the agile ways of working to continue our progress on strategic initiatives towards meeting customer expectations. Our leadership in sustainability puts us in a good position to exceed our set targets to deploy sustainable financing and decarbonisation solutions not only to our large corporate customers but also to the mid-sized and small firms.”

Group gross loans rise by 11.2% y-o-y lifted by increases in its home markets of Malaysia, Singapore and Indonesia by 8.2%, 12.2% and 13.6% respectively. The group’s deposits rise 8.9% on growth across its Indonesia 13.1%, Singapore 9.8% and Malaysia markets of 6.2%.

Maybank Singapore’s first quarter net income rises by 11.1% y-o-y to S$304.42m ($225.6m). Maybank Indonesia records a pre-provisioning operating profit of IDR609bn ($38m) as the bank booked higher interest income up 10.7% y-o-y. Loans increase by 14.0% to IDR122.28trn with corporate loans +18.2% and retail +9.6%.

"Maybank Q1 2024 net profit rises by 9.8% to MYR2.49bn" was originally created and published by Retail Banker International , a GlobalData owned brand.

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Association Says Travel Insurance ‘Will Likely’ Cover Injuries Sustained in Singapore Airlines Incident

maybank singapore travel insurance

Travel insurance policies “will likely” cover injuries sustained by aircraft turbulence, but policies may vary, the Association Of British Insurers said following the Singapore Airlines SIAL.SI incident on Tuesday.

One passenger died of a suspected heart attack, and 30 were injured after a Singapore Airlines flight hit severe turbulence on Tuesday, flinging passengers and crew around the cabin and forcing the plane to land in Bangkok, officials and the airline said.

The primary purpose of travel insurance is to cover the costs of emergency medical treatments or repatriation should the worst happen, the ABI said.

Compensation for Injured Passengers on Singapore Airlines Could Vary Dramatically

Most travel insurance policies also cover medical repatriation, where necessary, or an alternative flight home if passengers are fit and able.

“If you’re injured because of turbulence on a flight, as with other emergency medical needs, your travel insurance will likely apply in the usual way. Policies may vary, so it’s important to check the details of what you’re covered for …” a spokesperson for ABI said on Wednesday.

Twenty people onboard the flight are currently under treatment in intensive care facilities, Bangkok’s Samitivej Hospital said in a statement on Wednesday.

The flight from London and bound for Singapore fell into an air pocket while cabin crew were serving breakfast before it encountered turbulence, prompting the pilots to request an emergency landing, Bangkok Suvarnabhumi Airport general manager Kittipong Kittikachorn told a press conference.

(Reporting by Cruise in London and Zainab Hussain in Bengaluru; editing by Tasim Zahid)

Top photo: A Singapore Airlines Boeing 777-312ER readies to take off from Paine Field Tuesday, on Sept. 17, 2013, in Everett, Washington. (AP Photo/Elaine Thompson)

  • ‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence Terror

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    FWD Travel Insurance. $33 - $57 (Add $11 - 22 for COVID-19 coverage) - Overseas medical expenses: $200,000 - $1,000,000. - Trip cancellation: $7,500 - $15,000. - Trip cancellation or disruption: $5,000. - Overseas quarantine allowance: $50/day up to 14 days. - Medical expenses (Singapore or overseas): $200,000. Tiq by Etiqa ...

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    Etiqa Insurance Berhad, Singapore Branch is a member of the Maybank Group and it is a fully owned subsidiary of Maybank Ageas. The company's general insurance business started in Singapore back in 1961 under the name of United General Insurance Company Ltd. At the end of 2007, the group was rebranded - Etiqa. Learn more about these policies ...

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  18. Etiqa Insurance Singapore

    Personal Data Protection Terms & Conditions . I expressly authorise and consent to Etiqa, its officers and employees at their sole discretion, to disclose any and all information relating to me, including my personal particulars, my transactions and dealings and my policies of insurance with Etiqa, to any of the following persons, whether in Singapore or elsewhere:

  19. Maybank Q1 2024 net profit rises by 9.8% to MYR2.49bn

    Maybank, Southeast Asia's fourth largest bank by assets, reports a first quarter 9.8% increase in net profit to MYR2.49bn ($528.8m). Profit before tax rises by 12.6% y-o-y to MYR3.44bn.

  20. Association Says Travel Insurance 'Will Likely' Cover Injuries

    Travel insurance policies "will likely" cover injuries sustained by aircraft turbulence, but policies may vary, the Association Of British Insurers said following the Singapore Airlines SIAL ...