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What is a short term health insurance plan?
As the name suggests, short term health insurance is designed to cover you for a short period of time, between 1 and 12 months. You’ll find that the plans are extremely flexible, with many insurance providers also giving you the option to turn your custom short term medical insurance plan into a long term one.
For many travelers, short term health insurance is an attractive option. If you happen to require extensive treatment whilst abroad, the plan enables you to choose where you want to receive treatment: in the country you’re visiting, a neighboring country with better health facilities, or returning home for the sake of familiarity.
On the other hand, travel insurance may simply focus on bringing you back to your home country, after which the insurer will cease to provide coverage. In this case, you’ll be required to have a valid health insurance plan for your home country or pay for medical expenses out of pocket.
Short Term Insurance vs Travel Insurance
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Short Term Health Insurance |
Travel Insurance |
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Benefit Options |
Fully customizable coverage, with as little or as much covered as you want. |
Limited coverage: excluding pre-existing conditions and limited inpatient/outpatient coverage. |
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Area of Coverage |
Choose where to be treated. You can stay in the country you’re in, opt for a neighboring country, or can be relocated home for more long term treatment. |
Limited area of coverage. Insurers will attempt to return you home for treatments so that you will be covered on your home health insurance plan and not on your travel insurance. |
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Billing |
Payment options include the ability to pay through direct billing, meaning your insurer will cover the costs up front. |
Direct billing is unavailable on most travel insurance plans, meaning you must pay for treatment yourself up front |
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When to Purchase |
Short term health insurance plans can be bought at any time and from any country with immediate effect. They also offer the option of being extended beyond 12 months. |
Travel insurance plans must be purchased before the start of your journey. |
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Price |
The customizability of short term plans mean that premiums can range in price depending on the extent of the benefits and area of coverage |
Travel insurance plans are typically cheaper than short term health insurance plans, but this is because they offer fewer options regarding benefits and where you can be treated. |
Should you opt for a short term health insurance or a travel insurance plan?
If your plans for travel will be less than three months, travel insurance may be a better option for you than short term health insurance. Likewise, those going on longer trips stand to gain from short term health insurance plans.
Whatever your needs or budgets, Pacific Prime Singapore offers you the most suitable plans. Our strong partnerships with top insurers gives us access to a wide range of quality plans, while our expert insurance consultants provide impartial advice and plan comparison.
