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Credit Cards Giving Complementary Travel Insurance in Singapore

Loss of baggage and missing connecting flights have become common issues today. With thousands of flights operating from busy airports on a daily basis, errors are bound to happen. In case your first flight is delayed for a long time, you may miss your connecting flight. Investing in a new ticket will be expensive. Similarly, if your luggage gets lost, you will have to spend extra for at least the essentials in a foreign country where the currency may be of higher value, creating a dent in your spending capacity. A travel insurance policy will come in handy in such situations, as it offers reimbursement for your losses. Travel insurances also cover medical emergencies. Medical facilities are generally quite expensive. You may be thinking that buying travel insurance itself is expensive. However, you do not have to worry about it because you can get complimentary travel insurance by purchasing and using some credit cards. Many banks provide such offers. Let’s take a look at some of them.

Citi PremierMiles Visa Card

The Citi PremierMiles Visa Card gives you free travel insurance for trips from Singapore if you get back within 90 days. You can claim insurance in case of inconveniences faced during travel such as baggage loss, baggage delay, flight delay, trip interruption, and cancellation. Medical expenditure, including dental, permanent disability, and accidental deaths occurred during the travel will also be covered.

Card Highlights:

  • Coverage up to S$1 million for adults (cardholder & spouse) and S$50,000 for children in case of death/disability while in a common carrier.
  • Coverage up to S$100,000 for medical emergencies for cardholder and family.
  • Coverage up to S$1,000 for inconveniences during a flight.

HSBC Visa Infinite Credit Card

Every HSBC Visa Infinite Credit Card customer who purchases tickets using the card, automatically gets covered under travel insurance. You should claim for medical emergencies and injuries within 30 days from the event. In case there has been a death, you will have 180 days to make the claim. For persons above 70 years of age, you will receive between 10% and 50% of the insured amount, depending on the nature of the claim. Children will receive up to 50% of the insured amount.

Card Highlights:

  • Up to US$2 million for death and total or permanent disablement during conveyance and up to S$100,000 on land, per person.
  • Up to S$100,000 for medical expenditure, per trip per family.
  • Up to S$10,000 coverage for inconveniences.

Standard Chartered Visa Infinite Credit Card

Standard Chartered Visa Infinite Credit Card provides its customers with medical and inconvenience insurance for unfortunate events during the trip. It also covers post-travel expenditure as long as the trip was of 30 days or less. The insurance policy also covers outpatient and inpatient charges. However, you will have to bear the first S$150 of the bill. If your age is 70 years or more, you will be eligible to claim only S$25,000 for medical bills.

Card Highlights:

  • Coverage up to S$50,000 provided for medical bills for the cardholder.
  • Coverage up to S$100,000 for assistance services.
  • Emergency dental services of S$500 covered.

DBS Altitude Visa Infinite Card

When you buy your tickets using the DBS Altitude Visa Infinite Card, you and your family will receive a travel insurance policy of up to S$1 million, provided the unfortunate event occurred during the journey in public transport. There is no cover for events associated with pregnancy and childbirth. Events occurred during a war or foreign invasion are not covered as well.

Card Highlights:

  • Children receive coverage of up to S$250,000.
  • 100% coverage for permanent disablement or accidental death.
  • Annual fee waived for the first year.

American Express Singapore Airlines KrisFlyer Ascend Credit Card

The American Express KrisFlyer Ascend Credit Card covers multiple trips in a year, up to a maximum of 90 continuous days. You can purchase it at a discounted rate, along with a card. While pre-existing conditions are not covered, events occurring due to terrorism are covered. Senior citizens who are more than 70 years old will receive only 50% of the insured amount. Coverage of up to S$125,000 is available for permanent disability and accidental death. For travel inconvenience, you can receive insurance up to a maximum of S$5,000.

Card Highlights:

  • Women get a special benefit of up to S$2,000.
  • Extension of insurance cover of 30 days in case of illness or injury.
  • For emergency medical care and personal liabilities, you can receive up to S$500,000.

Maybank Horizon Visa Signature Card

With the Maybank Horizon Visa Signature Card, you will receive insurance for accidents during your trip, missed connecting flights, delay of luggage, loss of luggage and of repatriation of remains of the deceased. You can claim for luggage delay if it doesn’t arrive within 12 hours after you landed. Similarly, you can claim for loss if the luggage doesn’t arrive within 48 hours after you reached your destination. The insurance is valid for children under the age of 23.

Card Highlights:

  • Coverage up to S$1 million for permanent disablement or accidental death.
  • Coverage up to S$400 for missed connecting flight and luggage delay.
  • Coverage up to S$1,000 for loss of luggage.

OCBC Voyage Card

If you use your OCBC Voyage Card to get tickets for a trip of a maximum of 30 days, you will be eligible for complimentary travel insurance. If your flight is delayed for more than 4 hours, you can claim up to S$200. If your baggage is delayed for more than 6 hours, you can claim up to S$200. If you don’t receive your luggage for more than 48 hours, you can claim S$400. The scheme is applicable only for people who are 65 and below.

Card Highlights:

  • Accident coverage up to S$1.5 million, if it occurs while travelling in a common carrier.
  • Overseas medical coverage up to S$35,500.
  • Claims must be made within 90 days from the date of the incident.

Benefits of a Travel Insurance Policy

When you have a travel insurance policy, you can get the extra expenses back which you had to spend due to an unfortunate event or get compensated for it.

  • Suppose you get injured or fall ill in a foreign country, you will be able to get medical help without shelling out money from your pocket. In case the right treatment is not available at the place you are in, the expenses to evacuate you may also be covered.
  • Some insurance policies also cover medical expenses that you might incur post your return to Singapore.
  • If you or a family member suffer from permanent disablement while in a public transportation vehicle or any other time during your vacation, you will receive compensation from the insurance company. The same will apply if any of the travellers die.
  • If you want to change or cancel your schedule and tickets, you will be reimbursed and will not lose the entire amount.
  • In case your travel documents are stolen or lost, and your baggage is delayed or lost,  you can claim for compensation.

For Making Claims

To make a claim, you’ll have to produce the required documents, without which your case will not be considered by the insurance companies. These may differ from one insurer to another, but here are a few points that you need to generally consider:

  • Any event must be reported to the police or the management concerned or the relevant authorities within 24 hours, and you must get a written proof by them confirming the event.
  • A written complaint to the insurance company within 30 days from the incident. For some claims like death and disability, the claim can be made within 180 days, but depends on the company rules.
  • Proof of travel like the boarding pass or the flight ticket and identity proof.
  • Bills, documents and other proofs showing expenditure incurred due to the event.

How to Choose the Right Credit Card?

You should go for a credit card with free travel insurance if your work demands travelling regularly. There are a number of factors you need to consider before choosing the card.

Coverage amount: Most banks offer up to S$1 million or more in terms of total coverage. In addition, there is a limit to the claims you can make for every unfortunate incident. The claim amount for travel inconveniences is generally up to S$5,000. You can also pick a card based on whether you take trips abroad or within Singapore.

Equally insured amount for everyone: Many companies have a limit on the amount that you can claim for senior citizens above the age of 65 years. You can claim only 50% of the insured amount for them. Choose a card with a plan that allows you to claim a maximum percentage for everyone in your family.

Trip duration: While some companies offer to cover trips of up to 90 days, some only cover only 30 days. You can choose a card depending on the general duration of your travels.

Annual fee: The annual fee for a credit card with travel insurance may range between S$180 and S$650. However, there also are annual fee waivers for 1 year to 3 years available for many cards.

Now you know that by purchasing any of the aforementioned credit cards, you have a good chance of being able to make up for any losses incurred during a trip in Singapore or overseas. Go for a plan that suits you and falls within your budget. Travel with peace of mind knowing that you will get compensation if something untoward happens during your travels.

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