Insurance in Singapore: What You Have and What to Add

Public cover in Singapore, how much life and income cover fits you, and plain pros and cons of each type of insurance. Private, free calculator.

How Cover Works in Singapore

Every citizen and PR already has basic hospital and long term care insurance through CPF. Private plans add better wards, higher limits and life and income cover.

What You Already Have

MediShield Life

Basic health insurance for all citizens and PRs for life, for large hospital bills and some costly outpatient treatment, paid from MediSave.

Official site

MediSave

Part of your CPF for hospital bills, some outpatient care and insurance premiums.

Official site

CareShield Life

Long term care insurance paying a monthly cash payout for life if you cannot do three or more daily living activities ($689 a month for claims in 2026). Automatic for citizens and PRs born in 1980 or later, from age 30.

Official site

Dependants' Protection Scheme

Low cost term life cover for CPF members aged 21 to 65, started automatically with your first working contribution unless you opt out: $70,000 up to age 60, then $55,000 to 65.

Official site

MediFund

A safety net for citizens who cannot afford their medical bills after subsidies, MediShield Life and MediSave.

Official site
Health cover
MediShield Life is sized for subsidised B2 and C wards. An Integrated Shield Plan adds cover for A class wards or private hospitals, and its premium can be partly paid from MediSave within yearly limits. Riders that remove co-payments cost much more and must be paid in cash.

Types of Insurance, Pros and Cons

Integrated Shield Plan

A private plan that sits on top of MediShield Life for higher ward classes and private hospitals.

Pros

  • Choice of ward and specialist
  • Part of the premium can be paid from MediSave
  • Higher claim limits

Cons

  • Premiums rise steeply with age
  • Cash outlay above MediSave limits
  • Riders add a lot of cost

Term Life Insurance

A lump sum if you die or become totally and permanently disabled during the term.

Pros

  • Large cover for a low premium
  • Easy to match to a home loan
  • Can be combined with critical illness

Cons

  • No value at the end of the term
  • Whole life plans cost far more
  • Premiums depend on health and smoking

Critical Illness and Early Critical Illness

A lump sum on diagnosis of a covered illness, at early or severe stages depending on the plan.

Pros

  • Money during recovery
  • Early stage plans pay sooner
  • Pays regardless of work status

Cons

  • Only listed conditions
  • Early stage cover costs more
  • Multi pay features add cost

Disability Income

Monthly income replacement while you cannot work.

Pros

  • Protects your largest asset
  • Covers illness and injury
  • Payouts can last to retirement age

Cons

  • Fewer products on the market
  • Waiting periods apply
  • Payout capped at a share of income

Personal Accident

Pays on accidental death, disablement and accident medical costs.

Pros

  • Cheap
  • Covers minor accident bills
  • No medical check usually

Cons

  • Does not cover illness
  • Limited payouts
  • Overlaps with other cover

Checked October 2026. Rules and amounts change, so confirm on the official page before you rely on a figure. Who to check with in Singapore.