Why this Singapore-based couple retains their Indian health insurance plan
Harshit Sharma, 37, head of operations at a trading company for heavy machinery, learned firsthand just how expensive living in Singapore can be when faced with the need for nasal surgery
“I couldn’t breathe from one side of the nose. The surgery would have cost me S$17,000 in Singapore (nearly ₹10 lakh). When I discussed the issue with a doctor in India based in Bhopal, he told me he would do it for ₹50,000," he says.“Even though I had a private health plan in Singapore, the uncovered expenses would have been 1-2% of the bill. Given the family support and the cost, I decided to do it in India during my next visit."
His wife, Prabhjot Kaur (36), associate director at a Singapore-based wealth management firm, faced a similar situation when she needed a root canal treatment. She preferred to get it done in India. “The treatment cost along with the travel cost of going back to India was cheaper than getting it done in Singapore," she says.
Despite living in Singapore for the last seven years, Harshit and Prabhjot have continued their Indian medical insurance policy. They paid ₹22,000 in 2022 for two years for ₹5 lakh cover. “Our next premium is due in November. This year, we shall add our two-year-old son Sabar to the policy," they say.
In Singapore, apart from having the employer health plan, they also have private insurance plans. “I have a separate policy for which I pay S$2000 per annum. My wife and son are covered by a different plan that costs S$3500 per annum. The coverage in both plans is S$1 million," says Harshit.
The couple is on an employment pass in Singapore and is trying to get a permanent resident or PR status. “We applied for it in 2021, but it got rejected. We are doing the paperwork to apply for it
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