Insurers continue pledging support to battle against coronavirus

Aside from financial assistance to customers, some firms are providing help to the wider community

Insurers continue pledging support to battle against coronavirus

Insurance News

By Gabriel Olano

As more cases of the novel coronavirus, now known as COVID-19, come to light, the insurance industry continues to respond, providing assistance, not just to customers but to the community as a whole.

In Singapore, Great Eastern has pledged a SG$1 million support package to help its customers should they be affected by COVID-19. Until the end of the year, Great Eastern customers and their immediate family members who are hospitalised due to contracting the virus will receive a cash benefit of SG$200 per day of hospitalisation, with a maximum of 60 days. In the unfortunate event that death occurs, a SG$20,000 lump sum will be paid out.

Furthermore, the insurer will contribute SG$200,000 to provide financial assistance to those in Singapore affected by COVID-19 through the Courage Fund, facilitated by the National Council of Social Service (NCSS) and Community Chest, it said in a statement. Financial support for the company’s agents has also been announced.

Another Singaporean insurer, Etiqa Singapore, has pledged to provide a hospitalisation benefit of SG$100 a day, up to 10 days. Additionally, if the patient is admitted to the intensive care unit (ICU), an ICU benefit of SG$200 a day will apply, up to five days.

Meanwhile, in Macau, life insurer Fidelidade announced that it will provide a daily hospital allowance of MOP600 (SG$104.30) for a maximum of 50 days, up to May 31.

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