SINGAPORE, 15 January 2021 – Leading insurer Great Eastern today unveiled a SGD 1 million ($755,585)  GREAT Vaccine Fund. The Fund provides a daily hospital cash benefit of SGD 300  ($226.64) per day up to a maximum of seven days, if one is hospitalised due to COVID-19 vaccinations. Coverage will be valid for three months from the day of the first dose of Health Sciences Authority (HSA)-approved vaccinations.

The GREAT Vaccine Fund is effective until end-December 2021, or when the Fund is fully utilised, whichever is earlier. 

This Fund is for the benefit of all existing Great Eastern customers*, including the policyholders of the Dependants’ Protection Scheme and Eldershield plans, administered by the state-run Central Provident Fund (CPF).

Great Eastern Group CEO Khor Hock Seng said: “As a leading insurer in Singapore, we have always had the community at heart. Since the onset of COVID-19, we have put together a number of initiatives to do our part to Lifeproof Singaporeans. The GREAT Vaccine Fund is another such initiative and this complements the government’s financial assistance programme to give peace of mind to those taking the vaccination.”

This follows the insurer’s recent move to extend hospitalisation cover and/or inpatient treatment arising from all vaccinations (including COVID-19) for policyholders of its medical plans.

The GREAT Vaccine Fund is in addition to its SGD 1 million COVID-19 Customer Care Fund announced last year. The insurer was among the first to contribute SGD 500,000 ($377,731) to help the vulnerable through local charities and the Courage Fund (facilitated by the Community Chest). To further support the community in the past year, Great Eastern has hired close to 2,000 for corporate and financial advisory positions, and through the SG Traineeship programme.