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Singapore regulator extends health benefits for coronavirus

By Cristian Angeloni, 5 May 20

Both individual and group policyholders are included in the measure

The city state’s Life Insurance Association (LIA) and the General Insurance Association of Singapore (GIA) have confirmed that health cover holders admitted to a community care facility or community recovery facility will see their daily cash benefits extended for up to 14 days. 

The measure is effective immediately, and the period will start from when patients are transferred from a hospital. 

The extension will be available until the closure of the last facility of either type in Singapore, the regulators said. 

Benefits will be subject to existing policy conditions of the respective health insurers, but outpatient telemedicine are included in the measure. 

Respect the rules

The move stems from Singapore’s recent extension of the ‘circuit breaker’ period to 1 June 2020 – an additional four weeks to the previous period, which was supposed to end on 4 May. 

“Policyholders should seek information on coverage benefits provided by their policies from their financial adviser, insurance broker and/or insurer via digital, email, and telephone channels,” the LIA and GIA said.  

“Employers with group policies are advised to engage their insurers about their specific corporate coverage.  

“Claims for daily hospital cash benefit from individuals who contravene government travel advisories will not be paid,” they added. 

Tags: Singapore

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.