Great Eastern, a leading insurer, unveiled a S$1m ($752,000) GREAT Vaccine Fund last Friday that is effective until end-December 2021, or when the Fund is fully utilised, whichever is earlier.
The Fund provides a daily hospital cash benefit of S$300 per day up to a maximum of seven days, if one is hospitalised due to COVID-19 vaccinations. Coverage will be valid for three months from the day of the first dose of Health Sciences Authority-approved vaccinations.
This Fund is for the benefit of all eligible Great Eastern customers, including policyholders of the Dependants’ Protection Scheme and Eldershield plans.
Great Eastern Group CEO Khor Hock Seng said, “Since the onset of COVID-19, we have put together a number of initiatives to do our part to Lifeproof Singaporeans. The GREAT Vaccine Fund is another such initiative and this complements the government’s financial assistance programme to give peace of mind to those taking the vaccination.”
This follows the insurer’s recent move to extend hospitalisation cover and/or inpatient treatment arising from all vaccinations (including COVID-19) for policyholders of its medical plans.