China Taiping Singapore floats new financial aid against COVID-19

A recovery bonus of $1,000 will be given.

China Taiping Insurance Singapore has launched new financial initiatives for new and existing clients against COVID-19, according to a news release.

The Financial Aid Campaign offers additional benefits of $1,000 upon diagnosis of the virus, daily hospitalisation aid of $100/day for up to 30 days, a recovery bonus of $1,000, and an additional $10,000 death payout on top of an existing policy’s death coverage.

An enhanced Personal Accident Safe will grant a daily quarantine benefit of $100/day for up to 14 days, medical expenses benefit of up to $500 per policy year, and a $10,000 COVID-related death benefit.

Its parent company China Taiping Insurance Group has provided $1.9m (RMB10m) worth of free insurance coverage to Wuhan frontline medical staff as well as a cash donation of the same amount to Hubei province to combat the epidemic.