DBS Offers Customers Free Covid-19 Insurance For 30 Days, Add-Ons Available

Covid-19 still looms over us, and people fear that the situation will soon take a turn for the worse.

Luckily for many, multiple insurers have announced free insurance benefits for their customers for Covid-19 matters.

DBS, in particular, has partnered with Chubb Singapore to provide all 5 million of its customers with free insurance coverage for Covid-19.

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Starting 24 Feb, all DBS and POSB customers are eligible to sign up for 30 days of Covid-19 coverage by Chubb.

Read on for more details about this promotion.

Free insurance for DBS & POSB customers aged 18 and above

Yesterday (17 Feb), DBS announced on their website that they would be partnering with insurance agency Chubb to provide all customers with complimentary Covid-19 coverage for 30 days.

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Starting next Monday (24 Feb), customers aged 18 and above can sign up for the Covid-19 Hospital Cash policy, free of charge.

There’s no higher age limit, but children have to be at least a month old to qualify for coverage.

Customers can add their immediate family members to their policies too, even if they don’t hold an account with DBS or POSB.

Hospitalisation compensation & lump sum

Under this policy, if one contracts Covid-19 and is hospitalised, they will receive S$100 for every day that they are in hospital.

If they are admitted to the intensive care unit (ICU), they will receive a S$1,000 lump sum.

Customers can extend their coverage past 30 days

Customers can sign up for the policy online, or at any DBS or POSB branch from 24 Feb – 15 Mar.

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The policy insures them for 30 days from the date of application, and customers can choose to extend it if they wish to.

To do this, they have to purchase the Recovery Hospital Cash policy, which covers them for Covid-19, dengue and other illnesses or accidental injuries.

Please refer to DBS’s website for more details on their policies.

DBS’s attempt to reduce customers’ hospital bills

This is DBS’s effort to “cushion the affected patients’ healthcare expenses during a difficult period”, country head of DBS told TODAYonline.

Chubb Singapore said in DBS’s statement that they “(recognise) the importance of aiding customers during this critical period”.

They want to give DBS’s customers “appropriate protection, peace of mind and confidence” to carry on with life while battling Covid-19.

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We certainly hope that these insurers’ efforts will help alleviate the financial burdens that come with battling Covid-19.

Featured image adapted from DBS