Singapore – Singlife has launched an innovative personal accident insurance product that allows families to share a common coverage pool—marking a first in the Singapore insurance market.
The new plan, Singlife Family Accident Care, enables up to six family members to be covered under a shared sum insured of either US$380,996 (S$500,000) or US$760,000 (S$1 million) for accidental death and dismemberment. Singlife described the offering as a market-first in shared-limit personal accident coverage.
To encourage broader protection among families, the insurer is offering a premium discount of up to 50% when children are included in the policy.
Alongside this launch, Singlife also introduced Singlife Accident Care, a standalone personal accident plan for individuals, with coverage of up to S$3 million. The plan provides protection up to the age of 99.
Both insurance products come with a suite of additional benefits, including the Life Stage Event Benefit, which provides a lump-sum payout in cases of accidental death or total and permanent disability occurring within 12 months of a significant life milestone.
Another key feature is the Annual Leave Compensation Benefit, which offers S$100 per day if a caregiver is required to take annual leave after the insured has been hospitalized for four or more days.
Coverage under both plans extends to a wide range of incidents, including food poisoning, 21 infectious diseases, and injuries resulting from recreational sports.
The new offerings aim to address evolving customer needs with flexible, family-oriented solutions that enhance financial protection in the event of unforeseen accidents.
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