Hi Guys
I am planning to apply for PR. I was suggested by one of my friends to have a insurance policy in Singapore. This helps govt. to understand that the candidate has backup insurance when needed. My question is it really required to have an Insurance policy for the purpose of PR. Does this add value to the PR application ?
Any suggestions and views are appreciated.
Regards
Jay K
Typically, having an insurance policy in Singapore may not be a formal or mandatory requirement for obtaining Permanent Residency (PR). PR applications are usually assessed based on various factors, including but not limited to:
Employment history and stability
Educational qualifications
Income level
Contributions to the local community
Length of stay in the country
Family ties to Singaporean citizens or permanent residents
Skills and expertise that align with Singapore's economic needs
While having insurance might not be a strict requirement, it could potentially demonstrate financial responsibility and stability, which might indirectly add some value to your PR application. However, the primary focus of the application will be on the factors mentioned above.
What do you want to be insured for (or against)? There is no insurance for PR rejection!
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