SINGAPORE – Media OutReach – 13 February 2020 – Etiqa Insurance Singapore is providing Financial Assistance Benefit1 to those insured with their life insurance...

SINGAPORE – Media
OutReach
– 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.

Source:: Media Outreach

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