Travel insurance provides the vital coverage you need when you undertake a trip. While many of us feel that such a policy may not be a worthy investment, it gives you the protection required in case of any accidents, travel inconveniences or unprecedented events that could otherwise prove expensive while you are on a foreign land.
Like most other banks in Singapore, POSB also offers travel protection plans. The travel cover offered by POSB is underwritten by Chubb Insurance Singapore Limited.
Types of travel insurance provided by POSB
POSB offers the TravellerShield Plus protection plan for Singaporeans. This scheme offers comprehensive coverage for you and your family members. POSB TravellerShield Plus is available in Basic, Standard, and Premier tiers. Whether you are going on a holiday or for an adventure sports activity, TravellerShield Plus will give you the complete coverage you need.
Key benefits of buying a POSB travel insurance
Some of the important covers you get with the POSB TravellerShield Plus are listed below:
- Personal accident and disability cover
- Accidental dental cover
- Personal liability coverage
- Emergency medical evacuation benefit
- Overseas medical visit benefit
- Overseas medical expenses
- Coverage for adventurous activities (depending on the plan)
- Baggage loss and delay coverage
- Cover for cancellation of journey, airport closure or travel agency insolvency
- Travel curtailment, postponement and disruption benefits
Note: The coverage is not limited to the list above; there are several other related benefits available. The amount for the above-mentioned benefits will vary from one plan to another. The cover you get will depend on the policy you have chosen. For a detailed list of inclusions, exclusions, and the cover offered, you will need to refer to the policy brochure.
Coverage provided by POSB TravellerShield Plus
|Coverage||POSB TravellerShield Plus|
|Death in public transport||S$1 million||S$400,000||S$300,000|
|Overseas medical expense||S$1 million||S$500,000||S$300,000|
|Personal liability||S$1 million (Max limit)||S$1 million (Max limit)||S$500,000 (Max limit)|
|Trip cancellation cover||S$15,000||S$10,000||S$5,000|
|Lost baggage cover||S$8,000||S$5,000||S$3,000|
|Lost document cover||S$5,000||S$5,000||S$3,000|
|Terrorism and hostage crisis cover||S$500,000||S$200,000||S$150,000|
How to apply for POSB travel insurance
You can buy a travel policy on the POSB website in the following way:
- Go to the website and browse to the travel insurance section of the website.
- Select the desired plan and click on “Quote now”.
- You will be taken to the policy page where you can fill in the form and proceed with buying the policy.
How to make a claim
To submit a claim, you can do either of the following:
- Go to chubbclaims-dbs.com.sg to file a claim online. Ensure that you are providing a valid phone number and email address for Chubb to get in touch with you. You may also need to upload the required proofs to back your claim.
- Call Chubb hotline or send an email with the relevant documents to firstname.lastname@example.org.
Please keep the following things in mind before making a claim:
- Claims need to be submitted within 30 days of your return to Singapore.
- Make sure you have documents to support your claim. This can include photographs, relevant bills, quotes, or other papers. The company may contact you for more documents if they require further verification.
TravellerShield Plus is a comprehensive travel policy that can be opted by any individual who is planning for a trip. If you are aged above 70 years, you may receive fewer benefits.
How to contact POSB travel insurance
You can contact Chubb Insurance by calling the hotline number, which is +65 6398 8797. A representative will assist you from Monday through Friday (between 9:00 a.m. to 5:00 p.m.). You could also go to POSB website Here – www.posb.com.sg/Contact/posb/insurance/default.page – and fill in the general insurance contact form.
Compare POSB Travel Insurance With Other Insurance Companies Offering Travel Insurance in Singapore
Q. I am into adventure sports. I would like to know whether bungee jumping is covered.
A. Yes, leisure adventure sports are covered under TravellerShield Plus Premier and Platinum plans. You will need to refer to the policy document for a detailed list of inclusions and exclusions.
Q. How will I receive the policy?
A. Once your policy is successfully approved, you should receive your it through email.
Q. What is the accepted mode of payment for my policy?
A. You can pay for your plan using credit or debit cards, and DBS PayLah! Mobile Wallet. However, if you are using a credit card, you will need to ensure that pop-up blocker is disabled in your browser. For payments through DBS PayLah!, you will need to ensure that you have the app installed on your phone. You should also have a registered wallet account for a transaction.
Q. Will I save any money if I buy an annual policy?
A. Yes, if you are a frequent traveller, buying an annual trip plan can help you save money.
Q. I have a TravellerShield Plus annual plan. How many trips can I undertake in a year?
A. During your protection period, you can make as many trips as you want. However, you will need to ensure that each trip should not exceed the 90 day period from the date your journey was commenced.
Q. I have a comprehensive family policy. Are all the family members required to travel together for a journey in order to be eligible for coverage?
A. If your family members are covered under the family plan, you are not required to travel together for a journey. If you are travelling with an (insured) child, you will need to make sure that a guardian is accompanying the child at the time of the journey.