Fintech News Singapore
March 14, 2024
Singlife, the country’s first digital insurer, today announced the launch of two revised insurance plans – Singlife Elite Term II and Singlife Cancer Cover Plus II – aimed at improving the financial security and peace of mind of Singaporeans.
The plan aims to address changing protection needs and fill gaps in coverage faced by many Singaporeans. Reflecting on the findings of Singlife’s 2023 Financial Freedom Index, it was found that a significant proportion of Singaporean individuals expressed concerns about their ability to pay hospital bills and financially support their dependents during unforeseen circumstances.
Singlife Elite Term II, launching on March 14, 2024, seeks to alleviate these concerns by offering a flexible and comprehensive plan. These plans include a variety of coverage conditions and add-ons, including total and permanent disability and critical illness coverage, ensuring policyholders feel secure about their family’s financial future.
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Singlife’s head of lifestyle products, Stanz Tan, highlighted the company’s approach to adapting to customers’ changing needs, saying:
“As Singapore’s population ages, our enhanced plans are tailored to individual needs, providing strong protection and easing the financial burden on themselves and their families.”
Additionally, the introduction of Singlife Cancer Cover Plus II is an important step forward in addressing cancer protection gaps. Available from 14 March 2024, the plan provides comprehensive coverage for outpatient cancer treatment, including advanced and standard treatments, both domestically and internationally, with up to S$1.5 million covered per policy year.
Singlife will partner with IHH Healthcare Singapore to provide a free cancer screening package to the first 50 eligible policyholders of this new plan, highlighting the importance of accessible healthcare.
Featured image source: Edited from Freepik