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The average cost of an annual travel insurance policy in Singapore typically ranges from $200 to $400 per year for basic to mid-tier coverage, and $400 to $1,300 or more for comprehensive plans. The actual premium you pay depends on the type of coverage you select (basic vs. premier) and the geographic region covered, such as Asia-only or worldwide—including if your plan covers or excludes trips to the US, which raises costs due to higher overseas medical bills.
Annual travel insurance costs depend on several important factors:
Coverage tier: “Basic” or “lite” plans are at the lower end of the price range. "Premier" or "gold" plans come with higher coverage limits for things like overseas medical treatment, trip cancellation, and baggage loss, which drive premiums higher. For example, the MSIG TravelEasy Standard annual plan offers medical coverage up to $250,000, while FWD Premium covers up to $200,000.
Destination: Plans that only cover Asia or the Asia-Pacific region are often cheaper. Worldwide plans—including coverage for the USA—have higher starting premiums due to expensive healthcare in some countries.
Insurer and promotions: Prices vary by provider. Local insurers such as FWD and Income offer well-priced options for annual plans, while frequent promotions can materially lower your net premium.
Age and pre-existing conditions: Premiums increase with age. If you opt for a “Pre-Ex” plan catering for users with declared pre-existing medical conditions, expect a higher base price.
Other factors: Adding cover for family members, adventure sports, high-value gadgets, or rental car excess will also impact your annual premium.
For frequent travellers, annual travel insurance typically becomes more cost-effective after about three to four trips a year. If you expect to travel multiple times in 12 months, compare the total cost of annual coverage against the combined price of several single-trip policies. You’ll also save time and enjoy continuous cover throughout the year.
Annual Travel Insurance Plans to Consider (2026)
Insurer | Overseas medical expenses | Covid-19 cover | Emergency evacuation | Typical annual premium |
Up to S$250,000 (under 70 y/o)
Up to S$50,000 (aged 70+) | Up to S$75,000 | Up to S$1 million | From S$268 | |
Up to S$200,000 | Covered as add-on | Unlimited | From S$206.70 | |
Up to S$500,000 (under 70 y/o)
Up to S$75,000 (70+) | Included | S$1 million | From S$233.84 |
Disclaimer: Estimated premiums shown include current MoneySmart Exclusive discounts (Mar 2026) and are calculated based on an annual plan coverage for Japan. Actual costs vary by insurer, coverage tier, and age. See individual policy pages for full T&Cs.
