China Life Singapore to allot up to $88,600 for nCov support

A policyholder will receive a lump sum payment of $800 (US$577) if diagnosed.

China Life Insurance Singapore will be giving up to $88,600 of financial support to those affected by the coronavirus up to 31 August, according to a news release.

If a new or existing policyholder has been diagnosed and is under quarantine, they are eligible to receive a lump sum payment of $800 (US$577). They will get $130(US$93.78) per day upon in-patient hospitalisation.

Upon death, a lump sum payment of $80,000 (US$57,710) will be given out.

For insured employees, a lump sum payment of $8,000 (US$5,771) will be received if diagnosed with the virus. Upon death, $80,000 (US$57,710) will be given out.