Glossary of Singapore insurance terms for expats (English–Chinese)

Singapore's central bank and integrated financial regulator. MAS regulates insurers, insurance brokers and financial advisers under the Insurance Act 1966 and the Financial Advisers Act, licensing or registering them or exempting some, such as banks and insurers that may advise without a separate licence; it sets conduct rules such as the Fair Dealing Guidelines and runs the MoneySense programme. Regulation means an institution must meet MAS requirements; it does not mean MAS has reviewed or endorsed a particular insurance product.

The not-for-profit trade body of life insurers and life reinsurers in Singapore, established in 1962 (LIA, 2026). LIA is not a regulator. It publishes industry standards and consumer guides that shape policies sold locally, including the Critical Illness Framework, guidance on claim and complaint timelines, and guides on nominations and death claims. It does not decide individual disputes.

The trade association of general (non-life) insurers in Singapore, established in 1966. Its members write motor, travel, property, maid, personal accident and many health policies. GIA publishes consumer guides and dispute guidance, including expected complaint response times and the route to FIDReC. Like LIA, it is an industry body, not a regulator, and does not adjudicate claims.

The statutory body that administers the Deposit Insurance Scheme for bank deposits and the Policy Owners' Protection Scheme for insurance policies. If a scheme member fails, SDIC pays protected amounts up to the limits set by law. For insurance, its role is to protect policy owners of member insurers within defined scope and caps; it does not supervise insurers' day-to-day business, which is MAS's role.

The scheme that protects policy owners if a member insurer fails. For life policies, SDIC states it covers policies issued in Singapore by a licensed life insurer to both residents and non-residents, capped at S$500,000 aggregated guaranteed sum assured and S$100,000 aggregated guaranteed surrender value per life assured per insurer. Accident and health policies have no cap. Fund-linked investment-linked benefits are not covered (SDIC, accessed 24 Oct 2026).

An independent body that resolves disputes between consumers and its member financial institutions, including insurers. Filing is free, and FIDReC states a limit of S$150,000 per claim for adjudication (FIDReC, accessed 24 Oct 2026). Consumers normally complain to the insurer first and may approach FIDReC within six months of the insurer's final reply.

MAS's online directory of regulated financial institutions, showing each institution's licence type and the regulated activities it is authorised to carry out. Use it to check whether an insurer, broker or adviser firm is regulated in Singapore before buying. Individual representatives are checked separately on the MAS Register of Representatives.

Singapore's national financial education programme, run by MAS. Its website publishes plain-language guides on insurance basics, health insurance terms, the free-look period and the risks of dealing with unregulated or overseas entities. Many definitions on this site follow MoneySense wording because it is the official consumer reference.

Singapore's mandatory social security savings system for Singapore Citizens and Permanent Residents, funded by employee and employer contributions. CPF accounts finance retirement, housing and healthcare (through MediSave) and underpin schemes such as MediShield Life, CareShield Life and the Dependants' Protection Scheme. Foreign employees on work passes do not contribute (CPF Board, 2026).

The CPF account used for approved healthcare expenses and health insurance premiums. Citizens and PRs can use it to pay MediShield Life premiums and, within annual withdrawal limits, premiums for Integrated Shield Plans. CPF Board also allows MediSave to pay for a similar non-integrated plan for a member's foreign dependant (CPF Board, 19 Jun 2024). Work-pass holders have no MediSave account of their own.

National basic health insurance covering all Singapore Citizens and PRs for life, regardless of age or pre-existing conditions, designed around B2/C-class wards in public hospitals (MOH, 2025; CPF Board, 2026). Following the 2024 review, the policy-year claim limit was raised from S$150,000 to S$200,000 (MOH, 15 Oct 2024). Work-pass and Dependant's Pass holders are not covered.

A health plan for citizens and PRs made of two parts: the MediShield Life component run by CPF Board, and an additional private layer from an insurer covering higher ward classes or private hospitals. MOH lists seven IP insurers (April 2026). MediSave can pay the additional premium up to S$300, S$600 or S$900 a year depending on age next birthday (MOH, 30 Apr 2026).

A national long-term care insurance scheme for citizens and PRs, providing monthly payouts if the insured becomes severely disabled. Citizens and PRs born in 1980 or later are covered automatically from 1 October 2020 or age 30, whichever is later. For those insured in 2026 the monthly payout is S$689 (CPF Board, 2026). It does not apply to work-pass holders.

A term life scheme for CPF members. Citizens and PRs aged 21 to 65 are covered automatically on a valid working CPF contribution. The scheme is optional: members can opt out, and eligibility is subject to good health, with a health declaration required (Great Eastern Life DPS leaflet). The sum assured is S$70,000 up to the policy year in which the member turns 60, and S$55,000 from 60 to 65; Great Eastern Life administers the scheme under a contract extended to 30 September 2028 (CPF Board, 2025).

The law under which employees can claim compensation for work-related injury or disease without suing the employer. Employers must insure all manual workers and non-manual employees earning S$2,600 or less a month (MOM, 11 Jul 2024). From 1 November 2025 the maximum compensation is S$269,000 for death and S$346,000 for permanent incapacity, with medical expenses up to S$53,000 (MOM, 2024).

The work pass for foreign professionals, managers and executives. EP holders do not contribute to CPF and are outside MediShield Life. MOM states that providing medical insurance is not a requirement for employing EP holders (MOM FAQ, 30 Sep 2021), so their health cover depends on the employment contract and any personal policies. MOM counted 204,300 EP holders as at June 2026.

The work pass for mid-level skilled foreign staff. Employers must buy medical insurance of at least S$60,000 a year per S Pass holder, covering inpatient care and day surgery, with an insurer–employer 75:25 co-payment above S$15,000 (MOM, updated 18 Sep 2026). S Pass holders are outside CPF and MediShield Life. MOM counted 177,300 S Pass holders as at June 2026.

The work pass for semi-skilled foreign workers in sectors such as construction, manufacturing, services and domestic work. Employers must provide medical insurance of at least S$60,000 a year for inpatient care and day surgery (MOM, 18 Sep 2026), and work injury compensation insurance where required. As at June 2026, MOM counted 1,243,600 Work Permit holders, including 323,800 migrant domestic workers.

The pass for the legal spouse and unmarried children under 21 of an eligible EP or S Pass holder who earns a fixed monthly salary of at least S$6,000 (MOM, updated 14 Mar 2024; thresholds change). DP holders are outside national schemes, so their insurance comes from the main pass holder's group plan, if it includes dependants, or from personal policies.

A pass that lets certain family members of citizens, PRs and eligible pass holders, such as common-law spouses, stepchildren or parents, stay in Singapore for an extended period. For insurance, LTVP holders are in the same position as other foreigners: they are outside MediShield Life and need cover from a family or personal policy. Eligibility rules are set by MOM and ICA.

A foreigner granted permanent residence in Singapore. PRs who work contribute to CPF, at graduated rates in the first two years unless the employer opts for full rates (CPF Board, 2026), and come under MediShield Life, DPS and, depending on birth year, CareShield Life. Renouncing PR ends these schemes and allows full withdrawal of CPF monies (MOM, 24 Sep 2025).

A foreign domestic helper on a Work Permit. The employer must buy medical insurance with an annual claim limit of at least S$60,000 and personal accident insurance of at least S$60,000 a year, and must not pass the cost to the helper (MOM, updated 18 Sep 2026). Maid insurance is excluded from the standard 14-day free-look period (MoneySense, 2026).

For Singapore income tax, a foreigner is generally a tax resident for a year of assessment if they stayed or worked in Singapore for 183 days or more in the preceding calendar year; administrative concessions cover some stays spanning two or three years (IRAS, 12 May 2026). Only tax residents can claim personal reliefs such as life insurance relief (IRAS, 14 Aug 2026).

Health cover bought by an employer for its employees, sometimes extended to dependants. Benefits, limits and exclusions are set by the group contract. Because the employer owns the contract, cover usually ends when employment ends (see group vs personal cover). It is typically the main health cover for EP holders, but it is a contractual benefit, not a legal requirement.

Health insurance designed for people living outside their home country, covering treatment within a chosen area of cover such as a region or worldwide. IPMI can usually continue when you move country. Whether it is issued by a Singapore-licensed insurer or an overseas entity affects regulatory protection: MoneySense says dealing with unregulated persons, including overseas, means forgoing MAS protection (2 Jul 2026).

The geographic region in which a health policy, particularly IPMI, will pay for treatment, for example Singapore only, Asia, worldwide excluding the United States, or worldwide. Premiums usually rise with wider areas. The area of cover also determines what happens when you travel or relocate, so it should match where you are likely to seek treatment over the next few years.

The amount you pay before the insurer starts paying a claim. MoneySense explains that a health insurance deductible usually applies once per policy year (28 Sep 2026). For Integrated Shield Plans, MOH sets minimum deductibles, and from 1 April 2026 new IP riders can no longer cover them (MOH, 2025). Higher deductibles usually mean lower premiums.

The percentage of a claim, after the deductible, that you pay yourself, for example 10%, with the insurer paying the rest (MoneySense, 28 Sep 2026). Some plans cap the amount of co-insurance you pay in a year. For new IP riders sold from 1 April 2026, the annual co-payment cap was raised to at least S$6,000 (MOH, 2025).

An illness or injury you had, had symptoms of, or received treatment for before a policy started, as defined in the policy wording. MoneySense notes that pre-existing conditions are usually excluded (28 Sep 2026); in general underwriting practice an insurer may sometimes accept one with a loading or limited cover instead. They matter most when moving from group cover to a personal policy, which is underwritten afresh.

A period after a health policy starts during which certain benefits cannot be claimed. MoneySense says most health policies impose a general waiting period of 30 to 90 days from approval of cover (28 Sep 2026); specific benefits such as maternity can have longer ones under the policy wording. A waiting period can leave a gap if personal cover starts only after group cover has ended.

A letter from an insurer to a hospital stating how much of the bill the insurer will cover, so that the patient pays a lower deposit on admission (MoneySense, 28 Sep 2026). It is not a guarantee that the whole bill will be paid: the final claim is assessed against the policy, and deductibles, co-insurance and excluded items remain payable by the patient.

An underwriting method, common in IPMI, where the insurer does not ask for a full medical history at application. Instead, conditions you had within a look-back period before cover started are excluded until you have gone a set period without symptoms, treatment or advice. Terms vary by insurer; claims may involve checking your medical history at the time of claim.

An underwriting method where you disclose your full medical history at application, and the insurer decides before issuing cover whether to accept at standard terms, apply a loading or exclusion, postpone or decline. It gives certainty about what is excluded from the start, but depends on complete and accurate disclosure; non-disclosure can lead to a claim being refused.

An optional add-on to a base policy that adds or changes benefits for an extra premium, for example an IP rider that reduces deductible and co-insurance, or a critical illness rider on a life policy. Riders have their own terms and can usually be dropped separately. MOH changed the rules for new IP riders from 1 April 2026 (MOH, 2025).

A benefit, often found in IPMI and travel insurance, that pays to transport a patient to the nearest suitable medical facility, or sometimes back to their home country, when adequate treatment is not available locally. Policies differ on who decides whether evacuation is necessary, the destination and whether repatriation is included, so the wording matters.

Life insurance that pays a sum assured on death, and often on total and permanent disability, during a fixed term, with no cash value at the end. It is usually the lowest-cost way to buy a large amount of protection. Expats should check whether a term policy continues if they leave Singapore. Product mechanics are covered in detail on term.com.sg.

Life insurance that covers the insured for life and usually builds a cash value. Participating whole life policies add bonuses that are non-guaranteed; benefit illustrations are not a forecast of future results. Cash-value policies are reportable under CRS. This site covers only expat-specific issues; product mechanics are covered on wholelife.com.sg.

Insurance that pays a lump sum on diagnosis of a defined serious illness. In Singapore, severe-stage definitions follow the LIA Critical Illness Framework 2024, which standardises 37 critical illnesses; products using the 2019 definitions may no longer be sold from 1 October 2025 (LIA, 13 May 2025). Early- and intermediate-stage definitions are insurer-specific.

A benefit that pays when the insured is totally and permanently unable to work, or meets other conditions defined in the policy, such as loss of limbs or sight. Definitions and age limits differ between policies. The MAS Basic Financial Planning Guide suggests death and TPD cover of about nine times annual income as a starting point (MAS, Oct 2023).

The amount an insurer agrees to pay when an insured event, such as death or a covered critical illness, occurs. Only the guaranteed sum assured counts towards the PPF Scheme cap of S$500,000 per life assured per insurer for life policies (SDIC). Insurers may limit the sum assured they offer foreign applicants based on residency and financial information.

The insurer's assessment of an applicant's risk before deciding whether and on what terms to issue a policy. For foreigners, insurers may also consider the pass held, where the applicant mainly lives, ties to Singapore and plans to leave, as well as health, occupation and finances. The insurer may accept at standard terms, apply a loading or exclusion, postpone or decline.

An extra premium charged on top of the standard rate because the insurer assesses a higher risk, for example due to a health condition, occupation, hobby or country of residence. A loading is an alternative to an exclusion or decline. Ask the insurer whether a loading can be reviewed later if circumstances change.

A condition, event or circumstance that a policy does not cover. Some exclusions are standard for all policyholders, such as certain self-inflicted injuries; others are specific to you, such as a named pre-existing condition. From 1 July 2025, MOM standardised the exclusions allowed in mandatory medical insurance for S Pass and Work Permit holders (MOM, 2026).

The period after you receive a new policy during which you can cancel it by written notice and get back premiums, less any costs such as medical examinations. MoneySense states it is at least 14 days for all policies except travel, car and maid insurance (updated 11 May 2026). Refunds on investment-linked policies may reflect market value changes.

The applicant's obligation to answer application questions fully and honestly and to disclose material facts, including health, occupation, residency and other policies. If material facts are not disclosed, the insurer may refuse a claim or void the policy. Foreign applicants should disclose planned moves and their actual country of residence accurately.

A period after a premium due date during which cover continues even though the premium has not yet been paid. According to the LIA and MoneySENSE Your Guide to Life Insurance (May 2020), the grace period is usually 30 days. If the premium is still unpaid at the end, the policy may lapse. Expats who leave Singapore should keep a reliable way to pay.

Restoring a lapsed policy by paying overdue premiums, usually with interest, and often providing fresh health evidence. The LIA and MoneySENSE guide (May 2020) says reinstatement is usually possible within two years of lapse, subject to the insurer's conditions. Reinstatement is not guaranteed, so avoiding a lapse is generally simpler than restoring a policy.

The policy owner holds the rights under the policy, such as paying premiums, making nominations and surrendering it; the life assured is the person whose life or health is insured. They are often the same person. Under the Insurance Act nomination rules, only a policy owner who is also the life assured and at least 18 can make a nomination (LIA, March 2026).

A formal instruction naming who receives policy proceeds. A trust nomination can name only a spouse and/or children, is generally protected from creditors and cannot be changed freely. A revocable nomination can name anyone and is revoked if the policy is assigned. Without a nomination or will, an insurer may pay up to S$150,000 to a proper claimant under section 150 (LIA, March 2026).

Court documents authorising an executor (probate, where there is a will) or administrator (letters of administration, where there is not) to deal with a deceased person's estate. LIA's death claim guide (November 2025) notes that grants from Commonwealth countries or Hong Kong must be resealed in Singapore, and grants from other countries require a fresh Singapore application.

International tax reporting regimes. Under CRS, an insurer that issues cash value insurance or annuity contracts is a Specified Insurance Company that must register with IRAS (IRAS, 19 Aug 2026) and reports account information for exchange with other tax authorities; amended CRS requirements apply from 1 January 2027 (IRAS, 9 Sep 2026). Under the Singapore–US FATCA agreement in force since 18 March 2015, information on US persons' accounts is passed to the US IRS.

The IRAS process for non-citizen employees who stop working in Singapore, are posted overseas or leave for more than three months. The employer must file Form IR21 or notify IRAS at least one month beforehand and withhold monies due to the employee until clearance (IRAS, 2026). It does not cancel insurance, but it may affect cash available for premiums.