The Changi Airport Group and the Singapore Tourism Board said yesterday in a set that 3 insurance companies had developed travel insurance products covering at least $30,000 for medical remedies and hospitalization prices similar to Covid-19.
The minimum amount of policy was made a decision based on the recommendations of the Ministry of Health, which reviewed covid-19 remedy bills in personal hospitals.
The 3 insurance policies they provide are AIG Asia Pacific Insurance, Chubb Insurance Singapore and HL Insurance.
While AIG and HL Insurance have started promoting their insurance products, Chubb’s will be available from November 27.
Taking the example of a 40-year-old man arriving from China, the indexed plan on AIG’s online page would cover up to $250,000 for all Covid expenses for a five-day trip, for a premium of $6. 27, adding goods and taxes.
For the same profile and time, HL Insurance’s $123. 25 plan provides a $100,000 policy for Covid-19 expenses, as well as an additional policy for accidental hospitalizations, accidental deaths and disabilities, and related inconveniences.
Chubb will offer 4 plans with policies ranging from $30,000 to $250,000. Your premiums will start at $19. 15.
Under existing rules, incoming foreign travellers entering Singapore via various safe routes must take full charge of medical remedy, testing and isolation, if suspected of being inflamed with Covid-19 or requiring a medical remedy for the virus in Singapore. Those arriving at the airport will still have to pay for the Covid-19 tests, which charge $196.
The launch of these new insurance products precedes a pilot assignment of industry exhibitions and fairs that will begin in November.
HL Insurance said it has recently worked with a similar insurance product for those traveling outside Singapore.
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