12 firms in Singapore are giving free coronavirus coverage: here’s what you can claim

Many insurers in Singapore are extending their policies to cover hospital stays and death due to to the new disease.
The Straits Times

This story was updated on Wednesday (Feb 26).

As fears of the coronavirus continue, insurers in Singapore are extending their policies to cover hospital stays and death due to to the new disease.

In a statement on Feb 11, the General Insurance Association of Singapore and Life Insurance Association Singapore said that all Integrated Shield Plans and riders under member companies would provide coverage for hospitalisation expenses related to the virus.

It added that many firms were also altering their non-Integrated Shield Plans for individual policies to provide coverage for virus-related medical expenses.

Business Insider compiled a list of the free individual coverage local insurers are offering:


AIA

  • Who: All 1.4 million existing customers, and those whose policies are being issued up to July 31

  • How long: Until Dec 31, or 30 days after the Dorscon level goes back to green

  • How much: S$1,000 upon hospitalisation and S$25,000 if the policyholder dies


AXA

  • Who: All individual life and general insurance policyholders

  • How long: Until Sep 30, or when the Dorscon level goes back to Green

  • How much: S$200 per day of hospitalisation (for up to 90 days) and $20,000 if the policyholder dies.

    Customers who are frontline healthcare workers get S$400 per day of hospitalisation (for up to 90 days) and $40,000 if the policyholder dies.


NTUC Income

  • Who: Income Personal Accident and Income Family Micro-Insurance Scheme (IFMIS) policyholders

  • How long: Until Aug 31

  • How much: Income Personal Accident: $100 per day of hospitalisation (up to 30 days) and $10,000 if the policyholder dies. Amounts are on top of existing policy benefits

    IFMIS: S$200 per day of hospitalisation (for up to 30 days) and $5,000 if the policyholder dies or suffers permanent disability. Amounts are on top of existing policy benefits


Manulife

  • Who: All existing policyholders and life insured customers

  • How long: Until June 1

  • How much: S$1,500 upon diagnosis, S$2,000 upon hospitalisation for 5 days or more, and $30,000 if the policyholder dies. Amounts are on top of existing policy benefits

  • T&Cs: Does not cover those whose policies are issued or renewed after Feb 17, and caught the virus within a two week timeframe


DBS

  • Who: All the bank’s 5 million customers. Partners and children can be included in the application, even if they are not existing customers

  • How long: Lasts 30 days from the date of application, starting Feb 24

  • How much: S$100 per day of hospitalisation (up to 14 days), and S$1,000 upon admission to the Intensive Care Unit (ICU)

  • T&Cs: Worldwide coverage, except in Mainland China and US-sanctioned countries. Customers must declare that they do not have any flu-like symptoms, or visited China in the 14 days before applying


Great Eastern

  • Who: Policyholders, their spouses and children under 18

  • How long: Until the end of the year

  • How much: S$200 per day of hospitalisation (up to 60 days), and S$20,000 if the policyholder dies. Amounts are on top of existing policy benefits


Tokio Marine Life

  • Who: The first 50 individual life policyholders to be diagnosed with the virus

  • How long: Apply by April 30

  • How much: S$5,000


HSBC

  • Who: All HSBC Life policyholders who buy their policies before April 30, plus their spouses and children under 18

  • How long: One year, starting Feb 7

  • How much: S$1,000 upon diagnosis, S$200 per day of hospitalisation (up to 45 days), and S$10,000 if the policyholder dies

  • T&Cs: Excludes customers who contracted or are suspected to have the virus before Feb 7.


Etiqa/Maybank

  • Who: All life protection and insurance savings plans policyholders

  • How long:Did not state

  • How much: S$100 per day of hospitalisation (up to 10 days), S$200 per day of hospitalisation in the ICU (up to 5 days)and S$50,000 if the policyholder dies. Payouts capped at S$52,000

  • T&Cs: Excludes customers who showed symptoms, contracted or are suspected to have the virus before Feb 13, and those whose policies were issued or renewed after Feb 13 and caught the virus within a two week timeframe


China Life

  • Who: All existing policyholders

  • How long: Until Aug 31, or 30 days after the Government announces that the outbreak ceases to be a health threat, or when the company has paid out S$620,000 in claims

  • How much: S$800 upon diagnosis and quarantine, S$130 per day of hospitalisation (up to 60 days), and S$80,000 if the policyholder dies. Payouts capped at $88,600

  • T&Cs: Excludes those whose policies were issued after Feb 10 and caught the virus within a two week timeframe, or showed symptoms of the virus before applying.


Prudential

  • Who: Policyholders and their immediate family members

  • How long: Jan 23 to June 30

  • How much: S$500 upon diagnosis and quarantine, S$200 per day of hospitalisation (up to 3 months).


Maybank

  • Who: All customers

  • How long: 30 days from date of application. Apply between Feb 26 to Mar 20

  • How much: S$3,000 upon diagnosis of coronavirus, S$3,000 upon diagnosis of dengue fever


Read also: