AIA Singapore launches free holistic insurance coverage

AIA Singapore launches free holistic insurance coverage | Insurance Business Asia

Life & Health

AIA Singapore launches free holistic insurance coverage

Six-month coverage aims to bridge coverage gaps

Life & Health

By
Roxanne Libatique

AIA Singapore has announced a special initiative to mark National Day by offering six months of complimentary holistic insurance coverage.

This coverage includes protection for critical illness (CI) and mortality due to sickness or accidents, as well as teleconsultations with WhiteCoat.

The offer will be available to the first 15,000 Singaporean residents who sign up starting on Aug. 5.

AIA Singapore’s holistic insurance

AIA Singapore said the initiative aims to address significant protection gaps in the country, where there is a 74% gap in CI coverage and an 80% gap in mortality protection. By providing this coverage, it hopes to enhance financial security during critical times and improve insurance literacy among Singaporeans.

The complimentary coverage provides essential protection against unforeseen circumstances, including CI and death due to sickness or accidents. Additionally, customers will have access to telemedicine services from the comfort of their homes.

This initiative is part of AIA Singapore’s broader commitment to helping individuals and families live healthier, longer, and better lives.

Complimentary holistic insurance coverage complements AIA Health360

The initiative is aligned with AIA Health360, which is based on four key pillars:

plan well
protect well
be well
live well

AIA Health360 offers financial planning and digital tools, such as AIA+ and AIA Plan360, alongside comprehensive insurance solutions that cover health, wealth, and lifestyle protection needs.

Irma Hadikusuma, chief marketing and proposition officer at AIA Singapore, highlighted the company’s dedication to closing the protection gap.

“This initiative follows the success of our flagship protection products such as AIA Guaranteed Protect Plus (IV), AIA Pro Lifetime Protector (II) and AIA Ultimate Critical Cover, which reflects our commitment to bridge the protection gap and convince more people to take action to protect themselves and their families. We are eager to play a larger role in improving the holistic well-being of our society and contribute to a more resilient and thriving Singapore that lives healthier, longer, better lives,” she said.

The six-month complimentary coverage includes:

S$10,000 for 37 critical illnesses
S$10,000 for death due to sickness
S$20,000 for accidental death
teleconsultation benefits via WhiteCoat for up to two visits

Applications for the complimentary coverage open on Aug. 5 and close on Aug. 3. Interested individuals can sign up online or speak with an AIA insurance representative. Existing customers can register through the AIA+ app.