Since the launch of our free COVID-19 Hospital Cash insurance policy on 24 February, DBS has received a strong response from our customers in Singapore which, at its peak, recorded more than 52,000 sign-ups in a day.
Given the rapidly-changing Covid-19 situation over the past week, we have decided to extend the enrolment deadline of this policy to 31 March 2020. This will give some of our customers, who have yet to sign up for themselves or their family members, more time to do so.
Underwritten by Chubb Insurance, DBS’ regional general insurance partner, the 30-day free cover provides policyholders:
- A daily cash benefit for hospital confinement and a lump sum payout for ICU confinement, in relation to Covid-19.
- Worldwide coverage for policyholders who must travel during this period
Coverage commences on the date of application and will expire automatically. Sign-ups are available online, or at any DBS/POSB branch islandwide.
Said Shee Tse Koon, DBS Singapore Country Head, “We would like to encourage all of our customers to apply for the free 30-day policy, which will provide them additional cash coverage that is on top of any existing policies they may already have. Alongside our collaboration with Chubb, we also worked with our regional life bancassurance partner Manulife to offer support in relation to Covid-19 for our customers who are also their existing policyholders. Through these two partnerships, we are able to provide our customers the most comprehensive Covid-19 relief insurance coverage currently available in Singapore.”
DBS/POSB customers who are Singapore Residents aged 18 and above can apply for the COVID-19 Hospital Cash policy as the main policyholder, and include their immediate family members as additional insured persons. There is no age limit, though the policy can only insure those who are one month and above, and family members do not have to be DBS/POSB customers. Visit go.dbs.com/covid19 for more information.
The bank has since introduced similar coverage policies for customers in Hong Kong and Taiwan, also underwritten by Chubb Insurance, which were well-received.
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.