Do You Have a ‘Dangerous’ Job? Here Are The Insurance Plans You Need

Do the insurance companies think your job is ‘dangerous’ and want you to pay more in premiums? Here are the insurance policies you need—and can get—without worrying about your occupation.

The words ‘dangerous job’ and Singapore seem to go together like oil and water. Not only is it one of the safest cities in the world, but the stereotypical image of a Singaporean worker is undoubtedly that of a white-collar executive sitting behind a desk in an air-conditioned office. 

Their number one occupational hazard? Papercuts and carpal tunnel.

But there are ‘dangerous jobs’ out there—common ones, people you interact with every day that you probably don’t think of. Your car mechanic. The nurse at the hospital. The electrician that comes to your HDB. The person who repairs your air-con. The hawker who serves you chicken rice.

Don’t think these jobs are actually ‘dangerous’? Understandable. But many insurers feel differently.

How ‘occupational loading’ turns your premiums into a heavy load

Occupational loading refers to the insurance practice of charging higher premiums for certain occupational classes—most commonly found in personal accident insurance.

For instance, here is something we pulled out from a personal accident product brochure from an insurance company (that shall remain nameless). It defines a specific occupational class as ‘persons engaged in occupations requiring manual labour or heavy machinery or exposure to certain hazardous conditions’.

A few examples include chefs, caterers, vets, paramedics, plumbers, painters, construction foremen, cleaners, couriers, factory workers, and bartenders. And this doesn’t include the previous examples. This is a double whammy for such workers, who are often not highly paid to begin with. Now, they have to deal with higher premiums on top of that.

Can you fully rely on workplace insurance?

If occupational loading makes your insurance premiums unbearable, perhaps you can rely on workplace insurance. It is mandatory under the Work Injury Compensation Act, and employers must purchase the necessary coverage.

But it is often not enough. Consider that:

• Independent contractors and the self-employed are not covered, which includes many of the occupations listed above like hawkers, electricians, and plumbers
• Medical expenses coverage is limited to $45,000 per year

You can see how this can easily lead to a protection gap for many of such workers. This makes getting additional coverage—in particular, personal accident, medical, and life insurance—of paramount importance.

The simple and obvious solution that makes you go “duh!”

The solution for such workers sounds deceptively simple: just get the insurance that gives you the coverage you need, but also doesn’t have occupational loading (premiums stay the same regardless of occupation).

Easier said than done. But that’s what SingSaver is here for—to highlight the insurance plans that suit you and your unique circumstances the best. In the following sections, we will highlight a few personal accident, medical, and life insurance plans that we think would be a good fit if you fall into one of these occupations.

Personal accident insurance for those in ‘dangerous jobs’

Good news: not all insurers impose occupational loading. While we keep the identities of those who do private, we will gladly share those that don’t. Here’s a few to note:

*Note that this list is non-exhaustive

Boosting medical insurance coverage

Singaporeans and PRs are automatically covered by the basic CPF-administered MediShield Life. But many opt to add on a private insurance component to strengthen coverage, especially if they prefer private hospital treatment.

For those in higher-risk jobs—which often rely on manual physical skills—this higher quality of care could mean the difference between being able to return to work after any unfortunate incidents. Depending on the Shield plan of choice, you might also enjoy some measure of coverages beyond the ward stay. 

Here are a few considerations.

*Note that this list is non-exhaustive

Protecting your family with life insurance

Many of these higher-risk jobs are of the self-employed/contractor variety, which can place a financial strain on your family should anything tragic happen. Basic term life insurance is thus a necessary addition to help protect your dependents.

Three plans to look at are:

*Note that this list is non-exhaustive

Choose better with SingSaver

There are many insurance plans out there. And not all of them will be suitable for your individual circumstances. That’s why SingSaver is here—to help you make the most informed choices possible for your unique needs.

Protected up to specified limits by SDIC.

Note: This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that are not suitable for you may impact your ability to finance your future healthcare needs.

If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.

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