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MSIG insurance Singapore– All you need to know about the company and the policies they offer in Singapore

ZUU Online SG logo ZUU Online SG 17/6/2021 Swati Bansal
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MSIG Insurance Singapore is an MSI subsidiary offering insurance services in the country. The company has a solid presence in Singapore, and over the years, it has grown its reputation in the region as a provider of customer-centric and digitally innovative solutions. Here is a guide to the policies that MSIG Insurance Singapore offers.

Home insurance

The MSIG Home insurance Singapore plan covers armed robbery or burglary, fire, and pipe bursts. The home insurance plan comes in two forms (home insurance and Enhanced HomePlus® home insurance). Home insurance seeks to meet client needs for buildings insurance, content insurance, or both. Thus, it offers personal liability protection against property damage. On the other hand, the Enhanced HomePlus® home insurance plan protects home contents and renovations. You get up to $1 million in personal legal liability and coverage of up to $270,000 for renovations, household contents, personal belongings, and movable items.

Car insurance

MSIG Motor Insurance  Singapore is among the most popular car insurance in Singapore, and this product is divided into the basic MotorMax plan and the UMax plan. The difference in the plans depends on your driving lifestyle.  The advantage of choosing MSIG Car Insurance is that you enjoy 24/7 roadside assistance, windscreen covers, and an app tracking your score for UMax insurance holders. Other benefits of the plan include motor vehicle loan protection, transport allowance if repairs take long. New for old replacement when your car cannot be repaired after an accident, provided your vehicle is one year old.

Travel Insurance

MSIG travel insurance is among the best travel insurance plans in Singapore, and it covers loss of baggage or money, flight delays, sickness, and accidents. The plan comes in three forms: TravelEasy®, TravelEasy Pre-Ex®, and Global Study. TravelEasy® covers most things such as travel cancellation, stolen documents, medical la expenses, and follow-up medical treatment after the trip. Equally, TravelEasy covers adventurous activities like scuba diving, sky diving, tobogganing, sledding, and skating.  TravelEasy Pre-Ex is comprehensive with over 50 benefits, and it covers pre-existing conditions, overseas hospitalization expenses, and repatriation or emergency medical evacuation. Global Study is for students going to study abroad, and it covers study interruptions, holiday travels, illness, and accidents.

Maid Insurance

Your domestic helper is an indispensable family member, and you can cover them against illnesses, medical emergencies, and accidents by taking a maid insurance Singapore. MaidPlus insurance offers $60,000 personal accident cover for your maid annual and up to $3,000 for medical expenses due to accidents. Interestingly, you can purchase a 26-month MaidPlus policy. The plan also covers surgical, and hospitalization costs up to $50,000 plus 90 days pre-and post-hospitalization and maid replacement hiring expenses, especially if your maid is foreign.

Health insurance

The company offers four health insurance policies covering outpatient and hospital fees. The plans include the Freelance CashPlus, CancerCare Plus, Prestige Healthcare, and Hospital Cash Plus. The Freelance CashPlus plan offers $120 daily outpatient cash benefit up to 21 days and hospitalization cash benefit of $120 for up to 60 days. It is affordable, and premiums start at $6.89 per week. The CancerCare plan offers a lump sum payment of up to $100,000 once diagnosed with cancer and an early-stage cancer benefit of $50,000 lump sum payout once diagnosed with early-stage cancer.  Prestige Healthcare insurance covers repatriation and overseas medical evaluation for up to $1 million with expanded international cover if hospitalized overseas. The plan covers cancer treatments, outpatients and inpatient treatments, casualty ward accident services, and organ transplants. Lastly, the Hospital CashPlus plan offers daily cash payouts to clients as they get their health on track.

Personal accident insurance

MSIG Insurance’s ProtectionPlus plan is personal accident insurance that covers against income loss in case of an accident.  The plan offers a $200 daily hospital cash benefit for 50 days, a total or permanent disablement cover in case of an accident for around $375,000. Equally, there is a temporary disablement cover for you and your family in which you will receive a monthly income of $2,400 for two years if you can’t work because of the temporary disablement.  There is a bonus free cover for three kids if you and your spouse take the cover.  Its $10,000 bereavement grant is among the most generous in the insurance market.

Property insurance

There are three categories of MSIG property insurance: All Risks, Fire & Perils, and Business interruption.  The All Risks plan covers financial and physical assets under comprehensive covers against business interruption, material damage, and accidental damage or loss. The Fire & Peril plan covers material damage due to fire or any other natural catastrophe but doesn’t cover accidental loss or damage and burglary. The last category is the business interruption cover which protects the business against income loss in water damage, explosion, fire, and natural disasters.

Other insurance types

Interestingly MSIG offers insurance for employers to protect their employees against any accidents through three categories of MSIG employee compensation plans. The Work Injury Compensation plan covers employer liability under the Work Injury Compensation Act against any liability claims for employees. The plan covers all expenses and costs incurred. Also, the MSIG Group Personal insurance covers medical employee’s expenses with higher compensation limits for permanent disablement. However, the plan doesn’t cover medical treatment for personal injury that is not accidental.  Group healthcare insurance will keep your employees covered for up to  $3 million for overseas hospitalization per person. Optional benefits include maternity, outpatients, and dental to supplement other insurance plans. If the employer has overseas employees, they can extend coverage to them. Group Healthcare plan offers 24/78 medical assistance with payment guarantees for inpatient treatment.

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