Etiqa Singapore debuts critical illness insurance solution
Etiqa Singapore debuts critical illness insurance solution | Insurance Business Asia
Life & Health
Etiqa Singapore debuts critical illness insurance solution
Plan targets coverage gap
Life & Health
By
Roxanne Libatique
Etiqa Insurance Singapore has introduced a new critical illness (CI) insurance policy, named Essential critical secure.
The new insurance policy aims to offer wide-ranging and cost-effective coverage for 111 CI and mental health conditions spanning different illness stages.
What is Essential critical secure?
The plan features a novel continuous care benefit, which provides monthly cash disbursements up to 200% of the insured sum, alongside a lump-sum payment for severe CI claims, offering financial support during difficult periods.
“The addition of continuous care benefit aims to alleviate the financial strain of customers during challenging times by providing continuous financial support, going beyond the conventional lump sum payout upon diagnosis,” said Etiqa Singapore CEO Raymond Ong.
The plan also incorporates provisions for psychiatric consultation for conditions such as mild depression or generalised anxiety disorder, after the first year of the policy, and offers an upfront payment of 20% of the insured sum for the diagnosis of any of five severe mental health conditions.
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