Cooling-Off Period

When buying health insurance, it’s important to know that you are not locked in the moment you sign. Most insurers offer what’s called a cooling-off period—a short window of time when you can change your mind and cancel your policy without penalty. For expats, this is a valuable safety net while navigating complex international coverage options.

What Is the Cooling-Off Period?

The cooling-off period is a legally or contractually defined timeframe—usually between 14 to 30 days from the start of your policy—during which you can cancel and receive a full refund of any premiums paid. The key condition is that no claims must have been made during this period.

Why It Matters for Expats

• Peace of Mind: Moving abroad comes with many      uncertainties. A cooling-off period allows you to review your coverage in      detail after purchase.

• Avoiding Mistakes: If you discover that your plan      doesn’t cover something essential (like maternity, outpatient, or a      certain hospital), you can adjust or cancel.

• Flexibility: Some expats compare multiple      plans and may secure coverage quickly to meet visa or relocation      requirements. The cooling-off period gives breathing space to confirm      they’ve chosen wisely.

Conditions to Be Aware Of

• No Claims Rule: If you make a claim during the      cooling-off period, you generally forfeit the right to cancel.

• Administrative Steps: Cancellation usually requires      written notice to the insurer or broker.

• Refund Timing: Refunds are typically processed      within a few weeks, depending on the insurer.

• Jurisdiction Differences: Rules may vary by country and      insurer. In Singapore, for example, most insurers voluntarily apply a      14-day cooling-off period, but details differ by policy type.

Tips for Expats

1. Read the Policy Pack Carefully: Use this time to review      exclusions, deductibles, and coverage zones.

2. Consult Your Broker: If something seems unclear, your      broker can help clarify or suggest alternatives.

3. Act Quickly: Don’t wait until the last day.      If you’re considering a switch, start the conversation early.

The cooling-off period is your chance to double-check your insurance choice without financial risk. Use it wisely—review your plan thoroughly, ask questions, and make sure it aligns with your health needs and expat lifestyle.