AXA Life Insurance Singapore has been approved by the Singapore Ministry of Health as a new Integrated Shield Plan provider in Singapore.
It means AXA will launch AXA Shield, a Medisave-approved Integrated Shield Plan, offering the longest post-hospitalisation coverage in the market.
AXA Life Insurance Singapore is the sixth and newest insurer in Singapore to become an approved provider of Integrated Shield Plans. These provide additional private health insurance coverage for Singaporeans on top of MediShield Life.
AXA Shield premiums can be paid with Medisave, up to certain limits. Sales will start from 1 May 2016.
Glenn Williams, CEO of AXA Life Insurance Singapore, said: "We are extremely proud to be approved as the newest life insurer in Singapore to offer Integrated Shield Plans. This is an important milestone for us here at AXA."
Chief marketing officer of AXA Life Insurance Singapore, KwekPerroy Li Choo, added: "We were very fortunate to be able to ride on the many years of experience with existing Integrated Shield Plans in the market, and we focused on looking out for what else will be beneficial to customers."
Some of the features of AXA Shield include:
– AXA Singapore said AXA Shield is the only Integrated Shield Plan to offer the longest period of 365 days post-hospitalisation coverage in Singapore
– AXA Shield Plan A, with private hospital coverage, offers the highest annual limit in the market at S$1m
– Also AXA Shield Plan B, with coverage for single bedded ward in public hospitals, offers the highest annual limit in its category at S$550,000
– AXA is offering customers who buy AXA Shield a choice of three additional optional benefits (optional riders) with different focus areas for more complete health insurance coverage.