NTUC Income has announced it is extending COVID-19 protection to over 550,000 individuals in response to evolving outbreak situation. Starting today, close to 27,000 individuals insured by Income’s Personal Accident (PA) plans with infectious disease cover, and over 500,000 employees of organisations insured by its Group Employee Benefits policies, will automatically enjoy additional COVID-19 cover at no additional premium.
To further support lower-income households in Singapore, Income is also extending COVID-19 benefits to Income Family Micro-Insurance Scheme (IFMIS). Almost 29,000 individuals are eligible for the IFMIS, which offers insurance protection, at no premium to parents or guardians of a child or ward studying in a local primary school and a recipient of the Ministry of Education’s Financial Assistance Scheme. The Scheme also covers families whose child is enrolled in NTUC First Campus’ My First Skool and have a gross household income that does not exceed $4,500 a month, or a monthly per capita income that is not more than $1,125.
Said Income’s Chief Executive, Andrew Yeo, “We hope that through these measures, our policyholders will have better peace of mind knowing that they are better financially supported if they were diagnosed with COVID-19, and can stay focused on getting well. We will continue to stay responsive to the developing outbreak situation, both for our staff as well as for our policyholders, and extend necessary support wherever possible.”
Re-disseminated by The Asian Banker