Chubb, DBS to provide free cover for COVID-19 vaccination

Chubb, DBS to provide free cover for COVID-19 vaccination | Insurance Business Asia

Chubb, DBS to provide free cover for COVID-19 vaccination

DBS and Chubb Insurance Singapore have partnered to provide DBS and POSB customers with complimentary insurance cover for complications caused by vaccinations against COVID-19.

According to the firms, the move is in support of Singapore’s national COVID-19 vaccination drive. Known as COVID-19 vaccine protect, it is a 14-day free product that provides a daily cash benefit for hospital confinement and a lump sum pay-out for ICU confinement in case of any complications arising from each of the two vaccine doses a customer will receive.

It also comes with 30-day cover providing cash pay-outs if the policyholder contracts COVID-19. These coverages will apply on top of any existing policies the customer may already have. A two-year partnership between DBS and healthcare provider Parkway Shenton will also give policyholders access to medical services such as teleconsultation, health screenings, and COVID-19 testing.

The offer is open to all DBS and POSB customers who are Singapore residents and 18 years old or above. Immediate family members can also be included as additional insured persons. All of DBS’ 12,000 employees in Singapore will also receive the insurance.

In February 2020, DBS and Chubb launched a complimentary COVID-19 insurance policy, which saw roughly one million customers and family members sign up.

“Our national COVID-19 vaccination programme seeks to protect lives and livelihoods as we progressively re-open Singapore,” said Shee Tse Koon, DBS Singapore country head. “Progress is already well underway to vaccinate majority of the population as more vaccination centres open.

“We are grateful to be able to partner Chubb and Parkway Shenton, as part of our latest COVID-19 community support initiative, to support the national vaccination drive. This demonstrates a whole-of-country effort to provide additional peace of mind for our customers and employees who are receiving their vaccinations. We remain firmly committed to standing by the people of Singapore as we emerge from this crisis stronger together.”