Income Travel Insurance: Is It a Good Deal?

Income Travel Insurance: Is It a Good Deal?

Income's travel insurance policy is the one of the few in Singapore that provides coverage for pre-existing medical conditions

Good for

  • Travellers who need coverage for pre-existing conditions
  • Travellers seeking decent, middle-of-the-road coverage

Bad for

  • Travellers seeking great bang for your buck
  • Travellers seeking great coverage for personal accident/death and medical expenses

Editor's Rating

3.5/5.0

Like many other insurers, Income offers three levels of travel insurance policies to cater to the tastes and budgets of all kinds of consumers. Ultimately, its plans tend to be priced quite close to the industry average and feature a medium degree of coverage in most areas with two main weak points. While Income's plans are priced fairly given the level of coverage provided, deal-seekers will not be particularly wowed. However, Income's travel insurance policies stand out because they are one of the only insurers in Singapore that cover pre-existing medical conditions.

Summary of Income Travel Insurance
Quite low coverage for personal accident/death & medical expenses and medium coverage in other areas for prices close to the industry average
Pre-ex plans cover pre-existing conditions.
Promotion: 40% off Single Trips + Hello Kitty umbrella* for first 200 customers (*min. purchase S$50)

Table of Contents

Income Travel Insurance: What You Need to Know

First, the most distinct feature of Income's travel insurance policies is that they are the only ones in Singapore that provide coverage for pre-existing medical coverage with their Enhanced PreX Plans. However, the prices for these are about 3 times as expensive as Income's regular plans, with the basic plan costing double the basic-plan average. For other consumers, Income's policies represent a rather standard amount of protection for a reasonable price. Income's budget-tier Classic Plan, mid-tier Deluxe Plan and premium-tier Preferred Plan share prices and benefits that are close to the industry average for their respective coverage tiers.

This graph compares the price of all the major travel insurance policies in Singapore for a 1-week trip in the ASEAN region in order to help consumers find the cheapest travel insurance for their trip.

However, there are a few notable exceptions: each of Income's travel insurance plans features coverage for medical expenses is below-average. Also, Income's annual policies tend to cost somewhat more than the industry average for its cheapest Classic Plan and most fully-featured Preferred Plan, though the mid-tier Deluxe Plan maintains its average pricing for annual policies.

Although Income's policies are quite standard in terms of their value, people without pre-existing medical conditions may find better deals with other insurers. Within the entry-level and middle tier of travel insurance plans, you can get equivalent or significantly better coverage in every category except personal accident/death for fewer dollars with Allianz Global Assistance's Bronze and Silver Plans. For about the same amount of money—and substantially less for annual policies—the AXA Essential Plan outperforms Income Classic in every coverage area. Compared to the mid-tier Income Deluxe, the similarly-priced Aviva Travel Plus Plan will give you much better coverage than Income Deluxe in medical expenses and trip cancellation, though Aviva does offer slightly less coverage in personal accident, emergencies and trip delays. Within the premium tier of travel insurance plans, Aviva's Travel Prestige Plan gives you more protection in every area and much better bang for your buck than Income Preferred, despite costing around the same amount of money (or occasionally slightly less).

Notable Exclusions

Unlike all other insurers, Income covers pre-existing conditions—as long as you purchase their Enhanced PreX plans. Besides that, the exclusions are pretty standard, including no cover for travelling for medical conditions, items lost or damaged while unattended, travelling to participate in professional or compensated sports, being a victim of war, riots, or rebellion and travelling against the advice of the Singapore Government.

Medical ExclusionsTrip Inconvenience Exclusions
Pe-existing conditions (unless insured under PreX plan)Engaging in sport for compensation
Pregnancy-related eventsItems taken by customs officials
Suicide and mental illnessBaggage sent separately or items left unattended
Cosmetic or elective surgeryFragile articles, business goods, sports equipment
Travelling when you are medically unfitInability to travel due to business or contractual obligations
Metastatic or terminal illnessExtreme sports (bungee jumping, skydiving, mountaineering, etc.)

Sports Coverage

Income includes medical coverage for adventure and sports including skiing, scuba-diving, white water rafting and motorcycling. There's no golf coverage and no cover for extreme sports such as bungee jumping, skydiving and mountaineering.

Claims Information

To submit a claim, you have to print and complete the travel claim form, and along with the supporting documents, email it to the email provided below. If your claim includes reimbursement for medical expenses, you can submit the form either at an Income Branch, to your insurance adviser, or by mail.

Contact Information
Customer Service(65) 6788 1222
24-Hour Emergency Assistance(65) 6338 1222
Claims Number(65) 6788 6616
Claims Email[email protected]
AddressProperty & Casualty Claims Income, PO Box 0132, Singapore 911802
ClaimsForm

Income Coverage & Benefits

With so many options for travel insurance plans in Singapore, it's no wonder that picking the right one for your next business trip or holiday can seem like a daunting task. Below, we've compiled a summary of Income's premiums and coverage and how it compares to the industry average. If you'd like to learn more about how Income compares to other insurers, you can read our list of the best and cheapest travel insurance plans in Singapore.

ClassicDeluxePreferredIndustry Average
1-Week ASEANS$24.70S$35.75S$51.35S$42.09
Annual ASEANS$234S$270S$405S$251.11
1-Week AsiaS$30.55S$42.25S$63.70S$50.11
Annual AsiaS$234S$270S$405S$266
1-Week GlobalS$48.10S$57.85S$81.25S$70.25
Annual GlobalS$306S$342S$540S$353.87
1 Week ASEAN Value Ratio0.941.161.390.86
Annual Global Ratio0.490.680.870.87
Coverage BenefitsClassicDeluxePreferredIndustry Average
Personal Accident & DeathS$150,000S$200,000S$500,000S$828,790
MedicalS$250,000S$500,000S$1,000,000S$312,325
Emergency Medical/Evacuation/RepatriationS$500,000UnlmtdUnlmtdS$767,647
Trip CancellationS$5,000S$10,000S$15,000S$12,937
Trip DelaysS$1,000S$1,500S$2,000S$1,327
Baggage Loss DamageS$3,000S$5,000S$8,000S$5,923
Baggage DelayS$1,000S$1,200S$2,000S$1,195

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