Sompo Insurance Singapore has introduced the ‘Travel (COVID-19)’ insurance policy to provide protection against COVID-19 as well as other travel-related situations. The policy is now available for purchase at the insurer’s corporate website.
As there will be a 14-day waiting period from the date of purchase, customers are encouraged to buy the policy as soon as they confirm their travel dates for pre-trip protection.
The policy provides eight essential benefits, including trip cancellation and overseas quarantine allowance to cover customers diagnosed with COVID-19 before and during the trip. Customers can choose the essential plan or a higher coverage superior plan for this policy.
“As travel bubbles are being established progressively, travellers must feel safe and confident to travel again. Our Travel (COVID-19) is specially designed to address the COVID-19 concerns of travellers who have to make important business or personal overseas trips. They should travel without worries and not to be caught with the inconvenience of trip cancellation or hefty overseas medical expenses should they be tested positive for COVID-19 prior or during the trip,” said Sompo Insurance Singapore CEO Pui Phusangmook.
Besides COVID-19 related benefits, the product also provides 21 other travel benefits such as medical expenses overseas, personal accident, travel delay and loss of personal belongings.
Travel (COVID-19) covers individuals and families for personal or business single round trips, including cruise holidays. Currently, an annual plan is not available given the less frequent travels during this period.
The insurance policy’s primary coverage includes:
· Insured person, insured person’s immediate family member staying in the same household in Singapore, or travelling companion insured with Sompo is tested positive with COVID-19 and the trip has to be cancelled or postponed
· Insured person or a travelling companion is diagnosed with COVID-19 resulting in trip curtailment or disruption
· Protection against high medical costs if the insured person is diagnosed with COVID19 during the trip
· Up to 14 days of daily cash benefit if the insured person is quarantined or hospitalised overseas as a result of being diagnosed with COVID-19
However, it does not cover:
· Compulsory quarantine or stay-at-home requirements imposed by a foreign government
· The cost of compulsory polymerase chain reaction test and swab test regardless of the test results
· Trip cancellation or postponement due to the insured person’s disinclination to travel or fear of travelling