Travellers to Singapore now have the option of purchasing insurance coverage for Covid-19 related costs incurred during their stay here.
This was announced on Nov. 18 by Changi Airport Group (CAG) and Singapore Tourism Board (STB), on behalf of the Emerging Stronger Taskforce Alliance for Action on Enabling Safe and Innovative Visitor Experiences.
Changi Airport Group’s Chief Executive Officer and co-lead of the Alliance, Lee Seow Hiang said that such travel insurance products are not available in the market yet. The Alliance encourages insurers to develop and offer such products to travellers at reasonable prices.
Travel insurance that covers Covid-19 treatment costs for foreigners
At the moment, three companies have developed travel insurance products which provide at least S$30,000 in coverage for Covid-19 related medical treatment and hospitalisation costs.
A minimum of S$30,000 in coverage is recommended by the Ministry of Health based on Covid-19 bill sizes at private hospitals where foreign travellers would typically receive care for Covid-19 infection.
The three participating insurance companies are AIG Asia Pacific Insurance Pte. Ltd., Chubb Insurance Singapore Limited and HL Assurance Pte. Ltd.
Currently, foreign travellers entering Singapore via Safe Travel Lanes will have to bear the full cost of medical treatment, tests and isolation, should they be suspected of being infected with Covid-19. This initiative will help them cover such costs when that happens.
Singapore Tourism Board’s Chief Executive Officer, Keith Tan, said that the Covid-19 insurance coverage is a "key enabler" to allow travellers to visit Singapore with a peace of mind.
Premiums for these inbound travel insurance plans start from S$5.35 (inclusive of GST) and can be purchased directly from the insurers through their respective websites.
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Top photo via Changi Airport website.