Last Friday (14 Feb), leading insurer Great Eastern announced that it is providing a holistic support package to help its customers should they be affected by COVID-19.
The company has put aside S$1 million to support its customers in Singapore. Effective 14 February until end-2020, Great Eastern customers and/or their immediate family members* who are hospitalised due to COVID-19, will receive a cash benefit of S$200 per day of hospitalisation up to a maximum of 60 days. In the unfortunate event that death occurs, a S$20,000 lump sum will be paid out.
“With our support package, we want to give our customers peace of mind when they seek medical treatment, so that they can focus on recovery with less worry, in the event the unforeseen occurs,” said Khor Hock Seng, Group Chief Executive Officer of Great Eastern.
What’s more, on a national level, 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.
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.
“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,” commented Mr Khor.
The company’s COVID-19 support package supplements the insurance coverage it offers customers through their existing policies**.
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.
As a leading insurer, Great Eastern is also providing monetary support for its financial representatives and their families, should they be affected by COVID-19.
Mr Khor added, “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.”