NTUC Income adds Covid-19 insurance coverage for overseas travel, Banking News & Top Stories

(THE BUSINESS TIMES) – NTUC Income customers who buy its travel insurance will now receive Covid-19 coverage as well, for medical-related expenses while overseas.

Travellers covered by Income’s single-trip insurance will be protected for the first 90 days of each trip for Covid-19 related hospitalisation expenses of up to US$100,000 while abroad.

They will also be covered for costs incurred for medical evacuation or repatriation of up to US$100,000, if necessary.

These Covid-19 benefits are automatically included in single-trip insurance plans purchased from Thursday – including plans covering pre-existing conditions – and also for travel dates starting Thursday.

However, the Covid-19 benefits will be excluded from travel insurance for trips to countries that the World Health Organization deems as high risk for Covid-19 at the point of purchase.

Policyholders with existing annual travel insurance plans from Income can contact the insurer to find out about getting covered by these benefits for upcoming travel.

Fabian Ng, Income’s general manager for consumer business, said that there are some individuals who will need to travel for necessary business-related and other essential matters, even as overseas travel is still restricted in general.

“Nevertheless, we urge everyone to take all necessary precautions when planning your travels as there are countries that are seeing a resurgence in Covid-19 cases or are still experiencing a high number of infections,” Mr Ng added.

The Business Times reported last month that most travel insurance products do not cover Covid-19 related claims, although market leaders including Income had been reviewing some of their offerings.

Last week, Changi Airport Group and the Singapore Tourism Board announced that three insurers had each developed Covid-19 travel insurance plans for foreign visitors entering Singapore.

The three – AIG Asia Pacific Insurance, Chubb Insurance Singapore and HL Assurance – are providing at least $30,000 in coverage for Covid-19 related medical treatment and hospitalisation costs.

Source Article