DBS extends enrolment deadline of its free 30-day COVID-19 relief insurance cover for customers in Singapore to 31 March 2020
Singapore.17 Mar 2020
Singapore, 17 Mar 2020 - Since the launch of our free COVID-19 Hospital Cash insurance policy on 24 February, DBS has received a strong response from our customers in Singapore which, at its peak, recorded more than 52,000 sign-ups in a day.
Given the rapidly-changing Covid-19 situation over the past week, we have decided to extend the enrolment deadline of this policy to 31 March 2020. This will give some of our customers, who have yet to sign up for themselves or their family members, more time to do so.
Underwritten by Chubb Insurance, DBS’ regional general insurance partner, the 30-day free cover provides policyholders:
Coverage commences on the date of application and will expire automatically. Sign-ups are available online, or at any DBS/POSB branch islandwide.
Said Shee Tse Koon, DBS Singapore Country Head, “We would like to encourage all of our customers to apply for the free 30-day policy, which will provide them additional cash coverage that is on top of any existing policies they may already have. Alongside our collaboration with Chubb, we also worked with our regional life bancassurance partner Manulife to offer support in relation to Covid-19 for our customers who are also their existing policyholders. Through these two partnerships, we are able to provide our customers the most comprehensive Covid-19 relief insurance coverage currently available in Singapore.”
DBS/POSB customers who are Singapore Residents aged 18 and above can apply for the COVID-19 Hospital Cash policy as the main policyholder, and include their immediate family members as additional insured persons. There is no age limit, though the policy can only insure those who are one month and above, and family members do not have to be DBS/POSB customers.
The bank has since introduced similar coverage policies for customers in Hong Kong and Taiwan, also underwritten by Chubb Insurance, which were well-received.
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 28,000 staff, representing over 40 nationalities. For more information, please visitwww.dbs.com.
Given the rapidly-changing Covid-19 situation over the past week, we have decided to extend the enrolment deadline of this policy to 31 March 2020. This will give some of our customers, who have yet to sign up for themselves or their family members, more time to do so.
Underwritten by Chubb Insurance, DBS’ regional general insurance partner, the 30-day free cover provides policyholders:
- A daily cash benefit for hospital confinement and a lump sum payout for ICU confinement, in relation to Covid-19.
- Worldwide coverage for policyholders who must travel during this period
Coverage commences on the date of application and will expire automatically. Sign-ups are available online, or at any DBS/POSB branch islandwide.
Said Shee Tse Koon, DBS Singapore Country Head, “We would like to encourage all of our customers to apply for the free 30-day policy, which will provide them additional cash coverage that is on top of any existing policies they may already have. Alongside our collaboration with Chubb, we also worked with our regional life bancassurance partner Manulife to offer support in relation to Covid-19 for our customers who are also their existing policyholders. Through these two partnerships, we are able to provide our customers the most comprehensive Covid-19 relief insurance coverage currently available in Singapore.”
DBS/POSB customers who are Singapore Residents aged 18 and above can apply for the COVID-19 Hospital Cash policy as the main policyholder, and include their immediate family members as additional insured persons. There is no age limit, though the policy can only insure those who are one month and above, and family members do not have to be DBS/POSB customers.
The bank has since introduced similar coverage policies for customers in Hong Kong and Taiwan, also underwritten by Chubb Insurance, which were well-received.
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 28,000 staff, representing over 40 nationalities. For more information, please visitwww.dbs.com.
