Those insured will receive additional cash benefits for unexpected complications arising from the COVID-19 vaccine. Apart from employees, this insurance is also being offered to all DBS/POSB customers in Singapore.
DBS has announced that its entire 12,000-strong workforce in Singapore will be automatically covered by its new, complimentary COVID-19 vaccination insurance.
"This will provide the bank’s employees added assurance when making the decision to take the COVID-19 vaccination when offered," it noted in a press release on Thursday (25 March).
The vaccination insurance coverage, known as the COVID-19 Vaccine Protect, is the product of a partnership between DBS and Chubb Insurance, to provide those insured with additional cash benefits for unexpected complications arising from the COVID-19 vaccine. Apart from employees, this insurance is also being offered to all DBS/POSB customers in Singapore.
At the same time, under a two-year DBS Parkway programme, applicants will also be able to access medical services provided by Parkway Shenton, such as teleconsultations, COVID-19 swab tests and health screenings.
Details on the COVID-19 Vaccine Protect
Launched on 25 March 2021, COVID-19 Vaccine Protect is a 14-day free cover which extends a daily cash benefit for hospital confinement and a lump sum payout for ICU confinement in case of any complications arising from each of the two vaccine doses received.
To give customers greater peace of mind, the policy also includes an additional 30-day cover which provides a daily cash benefit for hospital confinement and a lump sum payment for ICU confinement in relation to COVID-19.
These coverages will apply on top of existing policies a customer may already have which afford protection against COVID-19 or post COVID-19 vaccination.
DBS/POSB customers who are Singapore Residents aged 18 and above can apply for the policy. As the main policyholder, they can also include their immediate family members as additional insured persons. These family members do not have to be DBS/POSB customers.
There is no age limit, though the policy can only insure those who are aged one month and above.
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