The digital insurer FWD Singapore has rolled out an insurance plan that offers financial support for Singapore residents who test positive for Covid-19.
The 100-day plan is offered at a price of S$28. It is available to anyone between the ages of 18 and 65, currently residing in Singapore with a valid NRIC or FIN number.
Under the plan, the policyholder will receive a daily cash allowance of S$100 for up to 14 days, if he/she is admitted into ICU.
They will also receive post hospitalisation cash benefit of S$800 upon discharge from hospital.
Additionally, the plan provides a death benefit of S$50,000, which automatically doubles to S$100,000, for critical frontliners involved in health and social services, food, transport and storage services.
FWD Singapore CEO Kee Eng said: “As our city stands united against the Covid-19 pandemic, we want to provide reassurance that should Singaporeans test positive for the virus and require hospital treatment, this plan will give them the protection and financial resources they need.
“In particular, we recognise that our critical frontliners may be at a higher risk of contracting Covid-19 so we’ve included a feature that doubles the death benefit for this group of individuals.”
The plan can be currently purchased via the FWD website.
The company has partnered with CXA Group, Mercer Singapore and ValueChampion to roll out the Covid-19 insurance plan.
Last month, FWD launched Personal Accident and Infectious Disease Coverage policy in collaboration with personal finance comparison site, SingSaver.