Insurers continue pledging support to battle against coronavirus

Insurers continue pledging support to battle against coronavirus | Insurance Business

Insurers continue pledging support to battle against coronavirus

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.