Singlife Unveils Upgraded Insurance Plans to Address Coverage Gaps – Fintech Singapore

Homegrown digital-first insurer Singlife today announced the roll-out of two revised insurance plans: Singlife Elite Term II and Singlife Cancer Cover Plus II, aimed at enhancing the financial stability and peace of mind for the Singaporean populace.

This initiative aims to address the changing protection needs and fills the gaps in coverage that many Singaporeans face. Reflecting on the findings from Singlife’s 2023 Financial Freedom Index study, it was revealed that a significant portion of individuals in Singapore express concerns over their ability to cover hospital bills and support dependents financially during unforeseen events.

The Singlife Elite Term II, launching on 14 March, 2024, seeks to alleviate such concerns by offering plans that is both flexible and comprehensive. This plan includes various coverage terms and add-on riders, such as total and permanent disability and critical illness cover, ensuring that policyholders can feel secure about their family’s financial future.

Stanz Tan

Stanz Tan, Head of Life Products at Singlife, highlighted the company’s approach towards adapting to the evolving needs of its customers, saying,

“As Singapore’s population ages, our enhanced plans are tailored to cater to individual needs, providing robust protection and alleviating the financial strain on themselves and their families.”

Additionally, the introduction of Singlife Cancer Cover Plus II marks a significant step towards addressing the cancer protection gap. This plan, available from the 14t March, 2024, will offer comprehensive coverage for outpatient cancer treatments, including advanced and standard therapies, both locally and abroad, with coverage up to S$1.5 million per policy year.

In collaboration with IHH Healthcare Singapore, Singlife will offer a complimentary cancer screening package to the first 50 eligible policyholders of this new plan, underlining the importance of accessible healthcare.

Featured image credit: Edited from Freepik

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• Source: https://fintechnews.sg/93119/insurtech/singlife-unveils-upgraded-insurance-plans-to-address-coverage-gaps/