Etiqa Insurance Singapore protects customers with Financial Assistance Benefit amid COVID-19 Outbreak
Singapore, 13 February 2020 – Etiqa Insurance Singapore is providing Financial Assistance Benefit1 to those insured with their life insurance policies in light of the Novel Coronavirus (COVID-19) outbreak. All existing and new insured persons of Etiqa life protection and insurance savings plans will receive complimentary coverage for hospitalisation and additional death benefit.
Staying committed to their mission to make the world a better place, the local insurer will provide hospitalisation benefits of S$100 daily (up to 10 days) for patients in stable condition and S$200 daily (up to 5 days) for those in the Intensive Care Unit (ICU), including a lump sum payment of S$50,000, in the event of death, as a result of the COVID-19 viral infection.
“The insurance industry plays a vital role in protecting communities and those who live in them. In this critical period, Etiqa is fully committed to support and stay united with our customers in this fight against the Novel Coronavirus. We’d like to assure our customers that in the unfortunate event that they are diagnosed with COVID-19, they will be provided with financial aid to tide them and their family through, reducing their financial impact and disruption to their daily lives as much as possible to allow them to fully focus on recovery”, said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Pte. Ltd.
| For new and existing insured persons of Etiqa life insurance policies | Financial Assistance | Maximum Payout |
| Hospitalisation Benefit | S$100/day | S$1,000 |
| Intensive Care Unit (ICU) Benefit | S$200/day | S$1,000 |
| Death Benefit | S$50,000 | S$50,000 |
Those insured with Etiqa life insurance policies are entitled to the complimentary Financial Assistance Benefit with a maximum payout of S$52,000 per life insured. Sue added, “Protecting people’s lives and assets, especially vulnerable communities, and helping them maintain their lifestyles through tough times is something close to our hearts. By remaining true to our brand promise to humanise insurance and place people over policies, we believe in making a positive difference by acting swiftly with integrity and empathy.”
The World Health Organisation (WHO) has declared the COVID-19 outbreak a public health emergency of international concern. To date, there are more than 40,000 infected people and more than 1,000 fatal cases. In Singapore, local transmissions of the Novel Coronavirus started appearing last week, and there are 50 confirmed cases as of 12 February 2020.
For more information, please visit www.etiqa.com.sg.
1The Financial Assistance Benefit is eligible for insured persons who are diagnosed with COVID-19, 14 days after the policy issuance date or the policy effective date (whichever is later), and excluding those who show symptoms of the virus strain before applying for the policy.
Etiqa reserves the discretion to make amendments to the benefits and its validity at any time.
Etiqa Insurance – A Singapore Insurance Company with Asian and International Expertise
Protecting customers since 1961, Etiqa is a licensed life and general insurance company registered in the Republic of Singapore. We are regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act.
With a comprehensive suite of protection, savings, retirement and legacy planning solutions, we are committed to helping our customers plan for a better future. Rated ‘A’ by Fitch in April 2019 for our financial strength and stable outlook, we humanise insurance by placing people over policies.
Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.
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