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China Taiping Insurance Singapore launches Two Financial Aid Initiatives

China Taiping Insurance Singapore has announced the launch of two new initiatives providing financial aid to help its existing and new life insurance customers, to better protect against COVID-19.

Under the shadow of COVID-19, according to China Taiping Insurance Singapore (CTPIS), everyone is concerned over their well-being. This has led CTPIS to launch these initiatives to show its customers that it cares for their wellbeing.

Lance Tay, General Manager, Life Insurance, China Taiping Insurance Singapore, said “Customers are our top priority. We want to give all our existing and new Life Insurance customers additional peace of mind during this challenging time with our complimentary insurance coverage which provides financial aid upon diagnosis, hospitalization and recovery from COVID-19. Our recovery bonus is unique to CTPIS, something that a COVID-19 patient can look forward to celebrating after winning the battle.”

The first initiative, the Financial Aid Campaign for Life Insurance customers, offers Complimentary insurance coverage for existing and new Life Insurance customers. This includes a Diagnosis Benefit, Hospital Cash Benefit, Recovery Bonus and Death Benefit.

The second initiative, the Personal Accident Safe initiative, is an Enhanced Personal Accident Safe plan allowing customers to enjoy greater financial security, according to a CTPIS press release. This initiative includes a Daily Quarantine Benefit, Medical Expenses Benefit and Death Benefit.

As China and the rest of the world combat the COVID-19, CTPIS’ parent company, China Taiping Insurance Group, is providing free insurance coverage to all frontline medical staff in Wuhan to a total of RMB10 million. In addition, the Group made a cash donation of RMB10 million to Hubei Province to combat the epidemic.