SINGAPORE, Feb 18 — DBS Bank announced yesterday that it will be partnering with Chubb Insurance Singapore to offer all its five million DBS and POSB customers 30 days of free Covid-19 coverage.
From next Monday until March 15, customers aged 18 and above who sign up for the Covid-19 Hospital Cash policy will receive 30 days of free Covid-19 coverage. Family members can be added by the main policyholder even if they are not bank customers.
Then once they are signed up, if they are diagnosed with Covid-19, they will receive S$100 (RM298.32) per day of hospitalisation and a lump sum of S$1,000 if they are admitted to the intensive care unit.
The policyholder also receives worldwide coverage if they must travel during the period of coverage, DBS said in its media statement yesterday.
Customers can apply for the policy online, or at any DBS or POSB branch islandwide. Children must be at least one-month old to be covered. Customers can extend coverage beyond the free 30 days by purchasing additional coverage.
“On the back of the liquidity relief measures we introduced last week, we wanted to further enhance the community support measures for our customers and the public in Singapore,” said Mr Shee Tse Koon, DBS Singapore’s country head.
He added that DBS hoped that the coverage “will help to further cushion affected patients’ healthcare expenses during a difficult period”.
Various insurers are also offering coverage for Covid-19 to eligible policyholders.
For instance, AIA Singapore said yesterday it will provide its existing 1.4 million eligible policyholders with free Covid-19 coverage until the end of 2020, or 30 days after the Disease Outbreak Response System Condition (Dorscon) level is stepped down to Green, whichever is earlier.
AIA policyholders will receive a lump sum of S$1,000 should they be hospitalised and S$25,000 if the insured person dies from Covid-19.
On February 11, the General Insurance Association of Singapore and Life Insurance Association, Singapore, said that their member companies’ Integrated Shield Plans (IPs) and IP riders will provide coverage for hospitalisation expenses related to Covid-19.
The associations added that many non-IP individual and group health insurance policies will also provide coverage for medical expenses related to Covid-19. Policyholders should check with their insurer, they added.
Another insurer, Great Eastern, said on February 14 that it has set aside S$1 million to support its policyholders on top of the S$200,000 it contributed to the Courage Fund facilitated by the National Council of Social Service and Community Chest.
Great Eastern policyholders and their immediate family members who are infected with Covid-19 will receive S$200 per day of hospitalisation in Singapore for up to 60 days and a lump sum of S$20,000 if the insured person dies. The coverage applies until the end of the year. ― TODAY
