The Life Insurance Association of Singapore announced today that all seven Integrated Shield Plan insurers in Singapore will extend coverage to Covid-19 vaccination complications that result in hospitalisation. This applies to all ISP policyholders who receive Covid-19 vaccines approved by the Health Sciences Authority and are vaccinated in Singapore. This will be provided till 31 December 2021. As the situation evolves, extensions to the duration of the coverage will be considered in the later part of the year.
Singapore’s 7 Integrated Shield Plan insurers include AIA, Aviva, AXA, Great Eastern Life, NTUC Income, Prudential and Raffles Health Insurance.
This announcement comes weeks after Aviva Singapore announced on 4 January 2021 that it would cover its health insurance customers for side effects arising from the Covid-19 vaccination at no additional premium. It was the first insurer in Singapore to announce this. Besides offering this to its Integrated Shield Plan customers, it also covers customers under its group health insurance plans.
Great Eastern has also launched at S$1 million GREAT Vaccine Fund for hospitalisation due to Covid-19 Vaccination. The Fund will provide a daily hospital cash benefit of S$300 per day up to seven days if hospitalisation is due to allergic reactions from Covid-19 vaccination. Customers of Great Eastern’s medical plans and their immediate families will automatically enjoy this hospitalsation cover including its Integrated Shield Plan customers. Great Eastern has also extended support to its employees and representatives.
Besides covering new and existing customers of PRUShield with no change in premiums from 13 January 2021, Prudential also extends this benefit its corporate and SME Customers under the Group Hospital and Surgical plans. It also covers its over 1,400 employees.
From 26 January 2021, Prudential will support individuals who may be hospitalised for side effects arising from Covid-19 vaccinations with S$100 daily hospitalisation cash allowance for up to 14 days for 100,000 Singapore residents. PRUSafe COVIDCover will be made available to 100,000 Singapore residents including non Prudential customers. The product will be offered on Pulse by Prudential app, Prudential’s digital health and wellness app, from 26 January to 31 July 2021.