Both the Life Insurance Association, Singapore (LIA Singapore) and the General Insurance Association of Singapore (GIA Singapore) have announced their plans to do so in order to provide additional support for policyholders during the covid-19 pandemic – especially in light of Prime Minister Lee Hsien Loong announcing that the country’s Circuit Breaker period will be extended until 1 June 2020.
The new measure, which is effective immediately, will also apply to employers with group policies. The period of cover will start from when patients are transferred from a hospital to a CCF or CRF on the condition that their stay is deemed medically necessary (i.e. the patient has tested positive for the virus and cannot be discharged).
“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.