The Tokyo-headquartered insurer will offer a lump sum for policyholders that contract the coronavirus infection.
$5,000 of financial assistance will be provided to policyholders with «in-force individual life policies» as a means to «tide over challenging times», according to a release. It said that this would make Tokio Marine Life Insurance Singapore (TMLS) the city-state’s first insurer to extend a helping hand to combat the crisis which was recently flagged as a «global health emergency» by the World Health Organization.
«Life is filled with uncertainties and we may be caught off-guard especially during unexpected crises,» said TMLS CEO Christopher Teo.
«Due to the unpredictable pandemic situation, TMLS undertakes swift action in planning ahead and caring for our customers by offering financial assistance to our customers impacted by this viral outbreak. With this financial relief, they can have the peace of mind to seek medical treatment and recover well without unnecessary financial stress to the family.»
#goCare
The insurer launched the initiative under its #goCare campaign and in addition to the lump sum, it will pledge a donation of $10 for every sale closed through its «Tied Agency Channel» from February 1 to April 30 this year. Funds raised will be donated to Red Cross for medical necessities and food supplies in Wuhan.
The $5,000 lump sum offer will be limited to the first 50 submissions from diagnosed victims. To date, the coronavirus has been confirmed to globally infect 124 individuals outside of mainland China.
