In response to the COVID-19 situation, Manulife Singapore has committed S$1 million to enhance the protection coverage of its customers.
Effective now until 1 June 2020, the enhancements are provided at no additional charge to customers.
The benefits include:
(1) New: Diagnosis Benefit(s)
Customers who are diagnosed with COVID-19 in Singapore will receive a one-time immediate cash benefit of S$1,500.
If the customer with a confirmed diagnosis of COVID-19 is hospitalized for 5 days or more, an additional cash benefit of S$2,000 (i.e. a total of S$3,500) would be payable.
(2) Additional Death Benefit
In the unfortunate event that death occurs as a result of the diagnosis of COVID-19, an additional lump sum of S$30,000 will be paid out on top of the death benefit from the customer’s existing policy.
Manulife Singapore also donated S$100,000 to The Courage Fund in support of those at the forefront of the fight against the coronavirus.
Find out what other insurance companies and the industry in Asia are doing as a whole in response to the Coronavirus in this comprehensive list here.
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