AIA Singapore celebrates national day with free 6-month holistic insurance to bridge Singapore’s protection gap
In celebration of Singapore’s 59th birthday, AIA will offer six months of complimentary holistic insurance coverage for critical illness and mortality as well as complimentary teleconsultations to individuals who successfully sign up in August.
SINGAPORE - Media OutReach Newswire - 25 July 2024 - AIA Singapore today announced that as part of its national day celebration, it will offer six months of complimentary holistic insurance coverage, including critical illness (CI) and mortality coverage due to sickness and accident as well as complimentary teleconsultations[1] with WhiteCoat. This will be made available to all Singaporean residents[2], limited to the first 15,000 sign ups starting on August 5.AIA Singapore aims to tackle concerning protection gaps in Singapore with a significant 74% gap in CI coverage[3] and 21% gap in mortality protection[4] as well as help Singaporeans better achieve holistic wellness. By offering complimentary coverage, AIA Singapore hopes to strengthen the nation's social compact and ensure more Singaporeans have access to financial security during critical times, while also enhance their insurance financial literacy so that they can proactively take charge of their underinsurance gap.
This initiative aligns with AIA Singapore's ongoing commitment to enabling individuals and families to live "Healthier, Longer, Better Lives". The complimentary coverage will provide essential and holistic protection against unforeseen circumstances such as CI as well as death due to sickness and accident. Customers will also have access to telemedicine services at the comfort of their homes.
Additionally, this complimentary holistic insurance coverage complements AIA Health360 - built upon four key pillars Plan Well, Protect Well, Be Well, Live Well, which goes beyond basic insurance and offers a range of financial planning and digital tools, such as AIA+ and AIA Plan360, as well as compelling insurance solutions covering health, wealth and lifestyle protection needs to ensure individuals achieve their desired lifestyle, at every stage of life.
Irma Hadikusuma, Chief Marketing and Proposition Officer, AIA Singapore, said, "This initiative follows the success of our flagship protection products such as AIA Guaranteed Protect Plus (IV), AIA Pro Lifetime Protector (II) and AIA Ultimate Critical Cover, which reflects our commitment to bridge the protection gap and convince more people to take action to protect themselves and their families. We are eager to play a larger role in improving the holistic well-being of our society and contribute to a more resilient and thriving Singapore that lives Healthier, Longer, Better Lives."
A study commissioned by AIA Singapore[5] highlighted a concerning one in four respondents reported that their family member suffered from cancer, lacked a CI plan to rely on during such critical times. When faced with a critical illness, being inadequately protected can put a financial strain on both the patient and their family members.
The six months complimentary coverage covers:
| Benefits | Coverage per insured person |
| Coverage for 37 Critical Illnesses | S$10,000 |
| Death due to Sickness | S$10,000 |
| Accidental Death due to Accident | S$20,000 |
| Teleconsultation Benefit via WhiteCoat | As Charged, up to 2 visits (exclude medication and delivery costs of medication) |
Application opens 5 August and ends on 31 August 2024, interested applicants can sign up online, or find out more by speaking with an AIA insurance representative and receive a complimentary Godiva soft serve ice cream. Existing customers can sign-up via the AIA+ app.
(i) Must be a Singapore Resident; and
(ii) Must be aged between 18 and 55 (age last birthday); and
(iii) Is not a citizen of a sanctioned country, or a Prohibited Person.
Hashtag: #AIASingapore
The issuer is solely responsible for the content of this announcement.
About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[1], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[2], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes "1299" for HKD counter and "81299" for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol "AAGIY".
