Insurance can feel confusing, bureaucratic, and dare we say—boring. So it’s no surprise that many people in Singapore delay buying insurance or avoid it altogether. But often, this hesitation stems from myths that simply aren’t true.
At IPG, we believe in cutting through the noise. Whether you’re a freelancer, business owner, expat, or just trying to adult more confidently, we’re here to help you separate fact from fiction—and show you what coverage really matters for your life.
Here are some of the most common insurance myths we hear in Singapore…and what you actually need to know.
💭 Myth #1: "If I’m young and healthy, I don’t need insurance yet."
Actually, the earlier, the better—especially when it comes to health and critical illness coverage.
Premiums are typically lower when you’re younger and in good health.
Waiting until you need medical care often means higher premiums or even exclusions for pre-existing conditions. In Singapore, where healthcare costs are high and rising, early protection = long-term savings.
💭 Myth #2: "MediShield Life is enough to cover all my medical expenses."
MediShield Life is a great foundation—but it’s basic.
It helps cover large hospital bills and selected outpatient treatments, but it doesn’t give you access to private hospitals, faster care, or a wider range of specialists.
For more comprehensive protection, an Integrated Shield Plan (IP) or International Health Insurance may be the smarter choice—especially for those who travel or live abroad.
💭 Myth #3: "Insurance is only useful when something really bad happens."
Insurance isn’t just about disaster relief—it’s about preventive protection and financial freedom.
Plans like health, life, travel, or even cyber insurance can help cover everyday risks. A delayed flight. A stolen laptop. A legal issue as a freelancer. The goal isn’t fear—it’s peace of mind. So you can live life fully, knowing you’ve got a safety net.
💭 Myth #4: "I can’t afford insurance right now."
You can’t afford not to have it.
Many plans—especially those tailored to young adults or SMEs—are far more affordable than people think. And considering the financial blow of an unexpected hospital bill or liability claim, it’s often the more cost-effective option in the long run.
At IPG, we specialize in customizable, modular insurance—so you can build a plan that fits your budget, your lifestyle, and your goals.
💭 Myth #5: "All insurance is the same. Just pick the cheapest one."
Like most things in life: you get what you pay for.
The cheapest plan may come with higher deductibles, limited payout caps, or narrow exclusions. Insurance isn’t just a checkbox—it’s a strategy. The right provider will help you understand what you’re buying, and how it fits into your broader financial and personal plan.
💡 Bottom line?
Don’t let myths be the reason you’re unprotected.
From mental health to international travel to cyber risks and professional liabilities, insurance today is more flexible—and more necessary—than ever.
Especially in a fast-paced, high-cost environment like Singapore.
At IPG, we’re not about fear tactics or cookie-cutter packages. We help individuals and businesses design smart, modern insurance solutions that match your real life.
📞 Ready to explore your options? Reach out to the team at IPG—we’re happy to chat.
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🔍 Common insurance myths in Singapore
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Find your answers—and your ideal coverage—at www.ipg.sg 🚀