Great Eastern has rolled out a S$1 million holistic support package to help its customers should they be affected by COVID-19. It is also contributing S$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.
Info at a glance:
- The support package is effective 14 February 2020 until end-2020.
- It covers Great Eastern customers and/or their immediate family members – defined as spouse & children aged 18 and under.
- If hospitalised, a cash benefit of S$200 per day of hospitalisation up to a maximum of 60 days will be paid out.
- In the unfortunate event that death occurs, a S$20,000 lump sum will be paid out.
For its travel insurance customers, the company is also offering a full premium refund for those who have purchased policies from 6 February to 30 June 2020 should they decide to cancel their plans.
The company’s COVID-19 support package supplements the insurance coverage it offers customers through their existing policies. Find out more about General Insurance Association and Life Insurance Association member companies' medical coverage relating to 2019 Novel Coronavirus here.
Mr Khor Hock Seng, Group Chief Executive Officer of Great Eastern, said: “As the Life Company, with a 112-year old history in Singapore, we want to do our part in this time of need. By contributing to the Courage Fund, we are strengthening the national effort to ensure that vulnerable groups are addressed.”
Great Eastern will also provide monetary support for its financial representatives and their families, should they be affected by COVID-19. “The health and well-being of our financial representatives is important to us and it is essential that we support them as best as we can,” he said.
The Courage Fund aims to support vulnerable individuals and groups such as patients, healthcare workers and members of the community affected by serious infectious diseases.
Find out what the insurance companies and the industry in Asia are doing as a whole in response to the Coronavirus in this comprehensive list here.
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