DBS Travel Insurance Singapore
DBS, one of Singapore’s leading banks, also offers insurance products. The bank’s portfolio of insurance products includes travel insurance, car insurance, overseas education insurance, home insurance, life insurance, money back plans, endowment plans, and retirement policies. DBS Travel Insurance is underwritten by MSIG insurance.
Types of Travel Insurance provided by DBS
DBS offers its customers two main kinds of travel insurance:
- BBM Travel Insurance: This policy covers your holidays to Batam, Bintan and Malaysia. This plan does not have an annual policy option.
- TravellerShield: This is a comprehensive travel policy for worldwide trips. There are 3 sub-divisions of this plan:
- TravellerShield Platinum
- TravellerShield Premier
- TravellerShield Classic
The policies cover a wide range of travel situations, with the TravellerShield Platinum offering the highest protection, Premier offering moderate protection, and Classic offering affordable insurance. TravellerShield gives more options than BBM Travel Insurance, which is a basic policy for short-distance travel. You can buy single trip plans and annual plans, as well as individual cover, family cover and group cover under each type of policy. The area-wise division of the policy is as follows:
- Area 1: Cambodia, Laos, Myanmar, Indonesia, Brunei, Malaysia, Thailand, Philippines and Vietnam
- Area 2: New Zealand, Australia, Japan, Hong Kong, Macau, China (excluding Inner Mongolia and Tibet), Korea, Taiwan, India, Sri Lanka and Area 1
- Area 3: Worldwide including Area 1 and Area 2
DBS travel insurance include Coverage:
- Personal accident
- Extension to personal accident due to war, civil unrest or revolution
- Double indemnity on public transport
Overseas medical expenses
- Medical expenses in Singapore
- Emergency dental treatment because of accident
- Treatment with Traditional Chinese Medicine
- Hospitalisation cash benefit (overseas)
- Hospitalisation cash benefit (in Singapore)
- ICU cash benefit (overseas)
- Medical evacuation
- Repatriation after medical evacuation
- Medical and travel assistance
- Repatriation of mortal remains
- Compassionate hospital visit by relative
- Child guard
- Reimbursement of emergency phone charges
- Personal and legal liability
- Loss of travel documents
- Loss of cash
- Loss of or damage to baggage
- Baggage delay
- Journey cancellation
- Journey curtailment
- Journey disruption
- Journey postponement
- Journey delay
- Flight diversion
- Missed flight
- Overbooked flight
- Bankruptcy or closing down of travel agency
- Trip delay because of hijacking
- Home contents insurance
- Extension of insurance in case of illness overseas or public transport delay
The bonus covers available on the TravellerShield are:
- Kidnap cover
- Funeral expenses
- Child education cover
- Rental vehicle excess
- Return of rental vehicle
- Loss or fraud of credit card
- Golf instruments cover
- Hole-in-one insurance
- Adventurous activities cover
DBS travel insurance coverage Plans
The maximum coverage available for different travel situations is listed below:
|Coverage||TravellerShield Platinum||TravellerShield Premier||TravellerShield Classic||BBM Travel Insurance|
|Personal accident||S$1.5 million (max. family cover)||S$800,000 (max. family cover)||S$400,000 (max. family cover)||S$150,000 (max. family cover)|
|Death in public transport||S$3 million (max. family cover)||S$1.6 million (max. family cover)||S$800,000 (max. family cover)||NA|
|Overseas medical expenses||S$3 million (max. family cover)||S$2 million (max. family cover)||S$1 million (max. family cover)||S$50,000|
|Medical expense in Singapore||S$250,000 (max. family cover)||S$200,000 (max. family cover)||S$100,000 (max. family cover)||S$1,000 (max. family cover)|
|Personal liability||S$1 million||S$1 million||S$500,000||S$250,000|
|Trip cancellation cover||S$45,000 (max. family cover)||S$30,000 (max. family cover)||S$15,000 (max. family cover)||NA|
|Lost baggage cover||S$8,000||S$5,000||S$3,000||S$1,000|
|Lost document cover||S$5,000||S$5,000||S$3,000||S$500|
|Hostage and hijacking cover (more than 12 hours)||S$15,000||S$10,000||S$5,000||S$750|
|Terrorism||S$1.5 million (max. family cover)||S$800,000 (max. family cover)||S$400,000 (max. family cover)||S$150,000 (max. family cover)|
DBS Travel Insurance promotion
Up to 30th June, 2017, DBS is offering a 50% discount on premiums for TravellerShield Single Trip policies. Annual plans are available at 20% concession on premiums.
Key benefits of buying DBS Travel Insurance
The following are the advantages of buying a travel insurance policy from DBS:
- DBS has a wide variety of coverage options that you can select as per your needs and affordability.
- The comprehensive package by DBS includes around 45 travel situations, which is one of the best available in Singapore today.
- You can also add cover to adventure sports and activities, a condition that is usually excluded by most travel insurance providers.
- DBS also offers ICU cash benefit, funeral expenses and home contents insurance, which is not very common among other insurance companies.
- The insurance cover for most activities is among the highest offered in Singapore (see table above for information).
- The premiums are as low as S$17.25.
- You can buy a DBS travel policy and pay its premiums online, conveniently and easily.
- Claims process of DBS travel insurance is quite simple and problem-free.
Check your eligibility for DBS Travel Insurance
DBS travel insurance can be bought by the following persons:
- You should be a Singapore citizen, Permanent Resident or foreigner living in Singapore to buy DBS travel cover.
- You should be at least 18 years old.
- You should be travelling from Singapore to another country and returning to Singapore.
- Individual cover can be bought by one adult and up to 5 companions travelling together. They need not be related to each other.
- Family policy can be bought by a family, including the policyholder, his or her legal partner, and their legal children.
- Children accompanying their parents should be at least 1 year old, and not more than 18 years. Children between ages 18 and 23 can travel as dependent with adults if they are students of a reputed institution.
How to apply for DBS Travel Insurance
To buy a DBS travel insurance plan, you need to do one of the following:
- Go to DBS website and buy the policy online. BBM Travel Insurance is available only through the website.
- Go to your nearest DBS bank branch and make your purchase there.
- You can pay your premiums online or at DBS bank. You can use your debit or credit cards, DBS PayLah wallet, or cash to pay your premium.
How to make a claim for DBS travel insurance
You can make an insurance claim on your DBS travel policy either online or offline. To do it online, you need to go to the claims section of the DBS website, and for offline claims, you need to download the claims form (or get it from your nearest DBS branch), fill it up and send it to this address:
MSIG Insurance (Singapore) Pte. Ltd.
4 Shenton Way #21-01
SGX Centre 2
Here are some things you need to remember about making a claim:
- You need to make your claim within 30 days of coming back to Singapore.
- In case of emergency, call the MSIG hotline.
- You need to submit the following documents when you make a claim:
- Claims Form
- Boarding pass/flight ticket
- Travel itinerary
- Original medical reports and receipts for medical claims
- Airline’s letter stating reason in case of missed flight journey cancellation, curtailment, delay, postponement or disruption
- Hotel invoices in case of trip curtailment, delay or disruption due to accommodation issues
- Travel deposit receipts in case of insolvency of travel agent or loss of deposit
- Warranty card and photographs of damaged items
- Loss or Damage Irregularity Report from airline in case of baggage loss or damage
- Purchase or repair receipts in case of damage
- Police report in case of theft of documents, cash or baggage
DBS travel insurance hotline
|Service Centre Hotline||
1800 222 3333 (DBS 24x7)
+65 63238288 (MSIG 24x7)
+65 68277607 and +65 68277660 (MSIG, between Monday and Friday from 8.45am to 5.30pm)
DBS Travel Insurance FAQs
- Can I buy an insurance policy only for a child?
Yes you can. But if the child is less than 12 years old, a legal guardian or parent should travel with the child in order to buy a travel insurance plan.
- Does my age affect the policy?
Yes. You can only buy a policy if you are at least 18 years old, and if you are over 70 years old, the coverage on benefits such as personal accident, public transport cover, overseas medical expenses, etc. are much lower than those given to persons below the age of 70.
- How much earlier before I go on my trip can I buy a travel insurance policy?
You need to travel within 90 days of buying a BBM policy, and within 182 days of buying a TravellerShield policy.
- Can I make changes to my policy any time?
You can amend the policy only if you inform MSIG Insurance before your trip or policy commencement period begins. After the journey begins, you can only make trip extension requests.
- What are the exclusions of TravellerShield?
The following are some of the conditions that are not covered by TravellerShield:
- Pre-existing conditions that needed consultation in the 1 year before start of the trip
- Adventure sports and activities apart from those listed above
- Travel to a location against media or government advice
- Professional sports and competitions
- Manual work such as mining
- Aerial photography and other flying activities
- Participation in military operations
News About DBS Travel Insurance
DBS Launches Instant e-payment Service for Travel Insurance
Travelling can be an unnerving experience and the lack of streamlined travel insurance policies can cause a lot of unrest. Making a claim can be a nightmare but with DBS and MISG’s venture, they have recently announced a launch of their instant electronic payment service for travel insurance claims, which is the first of its kind in Singapore. The new initiative by DBS and MSIG will reduce the time taken for a travel claim to be settled by almost 4 days.
The DBS or POSB accountholders who have purchased travel insurance plans issued by MSIG through either the DBS or the POSB website and have registered themselves as a member with a login account on the MSIG customer portal can enjoy the benefit of real-time claims payment service.
The real-time claims payment and instant electronic payment service is possible through DBS’s new API. This API is called DBS IDEAL RAPID and with the help of this API, MSIG has become the first company in Singapore to launch this service. MSIG is a general insurer and offers a vast array of products to DBS customers through its websites. One out of every two policies were purchased online last year and this real-time electronic claims payment service is bound to increase this number.
18th July 2017
DBS Bank Ties-Up with Canadian Insurance Company Manulife
Singapore-based DBS Bank, one of the largest banking and financial institutions in the world, has tied-up with Canadian insurance company Manulife. The two companies intend to take advantage of the rising demand of insurance products in Asian markets. Despite massive economic growth experienced by Asian economies in the last few decades, the number of people insured has remained low compared to other economies. The population of most Asian countries is aging and so the demand for insurance products will only increase with time. Both DBS Bank and Manulife will benefit from this partnership and will be able to expand their customer base in the process.
05th January 2016