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New COVID-19 insurance available for inbound travelers to Singapore

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Visitors to Singapore can now buy travel insurance that covers them for COVID-19 related costs incurred whilst in the city state.

Three insurance companies - AIG Asia Pacific Insurance, Chubb Insurance Singapore and HL Assurance - have developed travel insurance products which provide at least S$30,000 in coverage for COVID19 related medical treatment and hospitalisation costs.

A minimum of S$30,000 in coverage is recommended by the Ministry of Health based on COVID-19 bill sizes at private hospitals, which is where inbound travelers typically receive care.

Inbound foreign travelers entering Singapore via the various Safe Travel Lanes are required to bear the full cost of medical treatment, tests and isolation, should they be suspected of being infected with COVID-19, or require medical treatment for COVID-19 while in Singapore. With immediate effect, they will be able to purchase a travel insurance plan to help them cover some of the costs.

“We have been actively engaging the insurance community since August this year, through an Expression of Interest (EOI) exercise, to develop inbound travel insurance products as Singapore progressively reopens. We noticed such products were not available in the market, and wanted to encourage insurers to develop such products and offer them to travelers at a reasonable price,” said Lee Seow Hiang, Changi Airport Group’s Chief Executive Officer.

Premiums for the inbound travel insurance plans start from S$5.35 (inclusive of GST) and can be purchased directly from the insurers through their respective websites.

Keith Tan, Singapore Tourism Board’s Chief Executive, said, “As we gradually re-open for safe travel, COVID-19 insurance coverage is a key enabler to rebuild traveller confidence and provide peace of mind. We are heartened that the public and private sectors have come together to provide solutions, and we look forward to more collaborations that will help Singapore lead the way as a safe, trusted and innovative destination.”

© Asia Travel Tips

©2021 GPlusMedia Inc.

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