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Best Health Insurance in Singapore

7 insurers ranked and reviewed Β· Updated May 2026

Sources:SeedlyMOH IP Comparison TablesAM BestS&P Global RatingsMoody's Investors ServiceFitch Ratings

Healthcare System Overview

Singapore operates a multi-layered health financing system anchored by MediShield Life, a compulsory national health insurance administered by the CPF Board covering basic hospitalization at public hospitals. Citizens can purchase Integrated Shield Plans (IPs) from seven authorized private insurers for enhanced coverage including private hospital stays. MediSave (a CPF account) can be used to pay premiums.

#1

AIA Singapore

private1.5M members
89.2Score
S&P: AA- (AIA Group)(2025)Moody's: Aa2 (AIA Group)(2025)Seedly: Top IP Provider(2026)
β˜…β˜…β˜…β˜…β˜†4.3satisfactionFinancial strength: S&P AA- / Moody's Aa2

Ip Plan

AIA HealthShield Gold Max

Annual Limit

Up to S$2M

Claims Processing

Same-day median

  • AIA HealthShield Gold Max β€” up to S$2 million annual limit
  • Same-day median claims processing (fastest among major IP providers)
  • AIA Vitality wellness program with rewards and discounts
  • Comprehensive coverage for private hospital stays
View DetailsGet Quote→
#2

Prudential Singapore

private1.2M members
87.5Score
S&P: AA-(2025)Moody's: Aa3(2025)
β˜…β˜…β˜…β˜…β˜†4.1satisfactionFinancial strength: S&P AA- / Moody's Aa3

Ip Plan

PRUShield

Tcm Coverage

Yes (post-surgery)

Market Position

2nd largest life insurer

  • PRUShield Integrated Shield Plan β€” well-regarded across comparison sites
  • Unique TCM (Traditional Chinese Medicine) coverage post-surgery
  • Strong critical illness and cancer rider options
  • Digital PRUForce platform for agents and customers
View DetailsGet Quote→
#3

Great Eastern Life

private3.8M members
87Score
Fitch: AA(2025)S&P: AA-(2025)Seedly: #1 Market Share in Singapore(2026)
β˜…β˜…β˜…β˜…β˜†4.2satisfactionFinancial strength: Fitch AA / S&P AA-

Ip Plan

GREAT SupremeHealth

Market Share

~25.5%

Pre Hospitalization

365 days for chronic conditions

  • GREAT SupremeHealth IP β€” 365-day pre-hospitalization for chronic conditions
  • Largest life insurer in Singapore by gross written premiums
  • Backed by OCBC Bank for strong financial stability
  • Extensive agent network of approximately 5,000 in Singapore
View DetailsGet Quote→
#4

Income Insurance (NTUC Income)

Income Insurance Limited

hybrid2.0M members
82.7Score
S&P: A+(2025)Fitch: A+(2025)Seedly: Best Value IP Provider(2026)
β˜…β˜…β˜…β˜…β˜†4.2satisfactionFinancial strength: S&P A+ / Fitch A+

Ip Plan

Enhanced IncomeShield

Premium Level

Lowest in market

Tiers

Basic / Advantage / Preferred

  • Enhanced IncomeShield β€” consistently lowest premiums across all IP tiers
  • Three-tier IP offerings: Basic, Advantage, and Preferred
  • Social enterprise heritage β€” mission to make insurance accessible
  • Snack by Income digital platform
View DetailsGet Quote→
#5

HSBC Life Singapore

private300K members
82.5Score
S&P: A+ (HSBC Group)(2025)Moody's: A1 (HSBC Group)(2025)
β˜…β˜…β˜…β˜†β˜†3.8satisfactionFinancial strength: S&P A+ / Moody's A1 (HSBC Group)

Ip Plan

HSBC Life Shield Plan A/B and Standard

Target Demographic

Younger policyholders

Distribution

HSBC bancassurance

  • HSBC Life Shield Plan A/B and Standard Plan options
  • Competitive premiums for younger demographics
  • HSBC banking integration for seamless payments
  • Digital-first application and claims process
View DetailsGet Quote→
#6

Singlife (with Aviva)

Singlife

private1.0M members
72.5Score
AM Best: A- (Excellent)(2025)Fitch: A(2025)
β˜…β˜…β˜…β˜…β˜†4.0satisfactionFinancial strength: AM Best A- / Fitch A

Ip Plan

Singlife Shield

Approach

Digital-first

Merger

Merged with Aviva Singapore (2022)

  • Singlife Shield β€” competitive Integrated Shield Plan
  • Digital-first insurance platform
  • Innovative Singlife Account savings product
  • Merger with Aviva expanded product range and distribution
View DetailsGet Quote→
#7

Raffles Health Insurance

private50K members
70Score
Seedly: Healthcare-Backed IP Provider(2026)
β˜…β˜…β˜…β˜†β˜†3.5satisfaction

Ip Plan

Raffles Shield

Unique Feature

Only IP backed by a healthcare group

Parent Group

Raffles Medical Group

  • Only IP provider backed by a healthcare group (Raffles Medical)
  • Integration between insurer and hospital network
  • Unique care coordination benefits
  • Competitive pricing for certain demographics
View DetailsGet Quote→

About Health Insurance in Singapore

Singapore operates a multi-layered health financing system anchored by MediShield Life, a compulsory national health insurance administered by the CPF Board covering basic hospitalization at public hospitals. Citizens can purchase Integrated Shield Plans (IPs) from seven authorized private insurers for enhanced coverage including private hospital stays. MediSave (a CPF account) can be used to pay premiums.

Our editorial team has evaluated and ranked the top 7 health insurers in Singapore based on editorial ratings from trusted sources, customer satisfaction, financial strength, and coverage quality. Rankings are updated regularly to reflect the latest market changes.

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