Here is an excerpt of the conversation:
Andrea Heng, host:
When I shop around for travel insurance, I tend to go for the cheapest one, which you’ve told us not to do. We should avoid that. But what about shorter trips? I’m going for a couple of days to Melaka, something that’s not too far away.
But I’m still in a different country. So I feel like, “I don’t think anything’s going to happen. I’ll just buy the cheapest one. I should be good.” What’s your take on that?
Cherie Wang, co-founder of Planner Bee:
Possibly okay. So the way we see it is the amount of risk they are taking. What would the risk cost? So in Melaka, I assume it could be a drive there, right? The risk of transporting a person that’s sick back (home) – how much would that cost?
If I’m sick, would the hospitals there be more expensive than the ones in Singapore? If … the cost is pretty low, then maybe the basic plan would help you sufficiently in those situations.