Premiums for the new product, known as FlexiTravel Hourly Insurance, start at S$1.80 for the first six hours, with additional hours of coverage being charged at a rate of $0.30 per hour, capped at a maximum charge of $3 per day.
The policy is currently only available to travellers visiting Malaysia and the Indonesian Bintan and Batam, and is targeted at Singaporeans planning short, impromptu regional trips such as driving to Malaysia for a few hours.
The policy is purchasable via NTUC Income’s My Income app, enabling travellers to easily activate or stop their coverage when it is no longer required. In addition, the app’s geolocation functionality enables users to receive notifications reminding them to activate the plan when it detects that they are entering or leaving Singapore. Travellers can also update their travel details via the app to terminate or extend the plan manually.
The policy is intended to make it easier for Singaporeans who feel it is expensive or a hassle to purchase travel insurance for such short trips.
Vice President and Head of Personal Lines at NTUC Income Annie Chua, said:Top of FormBottom of Form “The recent relaxation of travel-related measures has injected fresh enthusiasm among Singaporeans over the possibility of travelling again. The launch of FlexiTravel Hourly Insurance is timely in catering to the evolving needs of travellers, such as short trips to nearby destinations and travelling amidst the pandemic, so they can now travel with peace of mind as they stay protected by the hour as needed.”
A recent survey by MSIG and Ancileo, also found that three in five Singaporeans plan to travel abroad in 2022, with the vast majority also interested in purchasing travel insurance for their trip.