Business Daily Media

Men's Weekly

.

Etiqa Insurance Singapore Launches Essential Critical Secure, a Critical Illness Plan with Mental Health Support and Continuous Financial Care

The new Essential critical secure plan features coverage for mental health conditions and first-in-market monthly cash payouts upon diagnosis of severe critical illness

SINGAPORE - Media OutReach Newswire - 7 March 2024 – Etiqa Insurance Singapore, a leading life and general insurer, today announced the launch of Essential critical secure, a new Critical Illness (CI) plan, that offers affordable and comprehensive protection against 111 CI and mental health conditions across multiple stages of illnesses.

The new Essential critical secure plan features coverage for mental health conditions and first-in-market monthly cash payouts upon diagnosis of severe critical illness.
The new Essential critical secure plan features coverage for mental health conditions and first-in-market monthly cash payouts upon diagnosis of severe critical illness.

Many Singaporeans remain under-protected against CI, with an average CI protection gap of 74%. Coupled with rising medical costs, there is a growing need for accessible and robust insurance solutions to safeguard individuals from the financial burden associated with CI. The product's first-in-market feature, Continuous Care Benefit, aims to address this gap by providing monthly cash payouts of up to 200%1 of the original sum insured2 in addition to a 100% lump sum payout upon a severe stage CI claim to help Singaporeans amid challenging times.

"Etiqa Insurance Singapore's Essential critical secure plan reinforces our commitment to support Singaporeans through life's challenges while addressing evolving healthcare and protection needs," said Raymond Ong, CEO of Etiqa Insurance Singapore. "The addition of Continuous Care Benefit aims to alleviate the financial strain of customers during challenging times by providing continuous financial support, going beyond the conventional lump sum payout upon diagnosis."

In line with Singapore's focus to make mental health and well-being a key priority, Essential critical secure also encompasses financial support for mental health. Coverage is provided for psychiatrist consultations (up to 8 claims) upon the diagnosis of Mild Depression or Generalised Anxiety Disorder after the first policy year, and an accelerated lump sum benefit of 20% of the sum insured3 will be paid out upon the diagnosis of any 1 of the 5 covered severe mental health conditions.

About Essential critical secure
  • Comprehensive CI coverage for multiple stages: Protection against 104 medical conditions across early, intermediate and severe stages.
  • First-in-the-market Continuous Care Benefit: Additional monthly cash payout of 1% of the sum insured upon the diagnosis of any of the 36 covered severe stage CIs for up to 200%1 of the original sum insured2.
  • Support for mental well-being: Benefits across 7 mental health conditions.
  • Lump sum payout for all stages of CI4: Accelerated payout of 50% of the sum insured upon the diagnosis of early and intermediate stages of a covered CI and payout of 100%5 of the sum insured upon the diagnosis of a covered severe stage CI.
  • Premium Waiver Benefit: Secure peace of mind with all future premiums waived upon the diagnosis of a covered early or intermediate-stage CI.
  • Affordable Premiums: At just S$0.86 per day6 for coverage of S$100,000 CI Benefit and up to S$200,0001 of Continuous Care Benefit.

To learn more about Etiqa Insurance Singapore's Essential critical secure plan, please click here.

Terms apply. Protected up to specified limits by SDIC.


1 Subject to a maximum of 2 claims. The total amount payable for the Continuous Care Benefit does not exceed 200% of the original sum insured per policy.

2 Original sum insured means the sum insured of the Essential critical secure policy before the reduction in sum insured due to prior claim(s) for CI Benefit and Severe Mental Health Benefit.

3 Subject to a maximum of S$25,000 per life insured.

4 CI Benefit consists of the Early and Intermediate Stage CI Benefit and the Severe Stage CI Benefit. The total amount payable for CI Benefit does not exceed 100% of the sum insured. Maximum aggregate amount of S$2,000,000 per life insured for early, intermediate and severe stages of CI (including premiums to be waived under this policy), subject to a cap of S$350,000 per life insured for early or intermediate stages of CI, for all policies and riders issued by us and other insurance companies on the same life insured.

5 Except for Angioplasty & Other Invasive Treatment for Coronary Artery. Less any claim(s) paid for Angioplasty & Other Invasive Treatment for Coronary Artery, Early and Intermediate Stage CI Benefit and Severe Mental Health Benefit.

6 Premium is illustrated based on a female aged 1 year, non-smoker and a sum insured of S$100,000 for a premium and policy term of up to age 70 on a yearly premium frequency.

Hashtag: #Etiqa #EtiqaInsuranceSingapore

The issuer is solely responsible for the content of this announcement.

About Etiqa Insurance Pte. Ltd. (Etiqa Insurance Singapore)

Protecting customers since 1961, Etiqa Insurance Singapore is a licensed life and general insurance company regulated by the Monetary Authority of Singapore (MAS) and governed by the Insurance Act. The local insurer is the Singapore operating entity of Etiqa Insurance Group – a leading insurance and takaful business in ASEAN offering life and general insurance and family and general takaful products through its agents, branches, offices, and bancassurance network in the region. Etiqa is rated 'A' by credit rating agency Fitch for the group's 'Favorable' business profile and 'Very Strong' capitalisation.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia, and 31% by Ageas, an international insurance group with footprints across 16 countries and a heritage that spans over 190 years.

News from Asia

Rhenus 4PL Solutions Brings Digital Logistics Expertise Support To The Circular Economy Initiative Of Looper Textile Co. And REMONDIS

Circular textiles at industrial scale: Looper Textile Co. collects, sorts and processes up to 150 million garments annually for reuse and recycling. Digital coordination by Rhenus...

ISCA and SHICPA Sign MOU to Strengthen Support for Accountancy Professionals and Firms in Shanghai

SINGAPORE - Media OutReach Newswire - 8 July 2025 - The Institute of Singapore Chartered Accountants (ISCA) and the Shanghai Institute of Certified Public Accountants (SHICPA) have signed a Memora...

Proscenic Launches Major Prime Day 2025 Sale with Up to 40% Off Best-Selling Vacuums Starting at €89

SHENZHEN, CHINA - Media OutReach Newswire - 8 July 2025 - Smart home innovator Proscenic is kicking off Prime Day 2025 with one of its biggest sales yet, offering up to 40% off its top-rated vacuu...

Arrow Electronics Launches Engineering Solutions Center to Support Tech Innovation Across India and Southeast Asia

BANGALORE, INDIA - Media OutReach Newswire - 9 July 2025 - Arrow Electronics, a global provider of technology solutions, today announced the launch of its new Engineering Solutions Center(ESC) in ...

XIXILI Introduces Jelly Padded Bras: A Game-Changer in Everyday Comfort

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 9 July 2025 - Renowned for empowering women through inclusivity and thoughtful design, XIXILI announces the arrival of its latest bra collection:...

Jurassic World: The Experience Roars Into Bangkok - 8 August 2025 At Asiatique The Riverfront Destination

BANGKOK, THAILAND - Media OutReach Newswire - 9 July 2025 - Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate group, together with NEON and Universal Destinations ...

Health2Sync and Novo Nordisk Pharma Korea, Ltd. Launch Smart Cap Mallya® for FlexTouch® Insulin Pens Integration in South Korea, Enhancing insulin administration via Digital Diabetes Care

SEOUL, SOUTH KOREA - Media OutReach Newswire - 9 July 2025 - Health2Sync, Asia's leading digital chronic disease management platform, announced the successful integration of Smart Cap Mallya® for ...

E-commerce Platform Wildberries Pilots Its Own Taxi Service

MINSK, BELARUS - Media OutReach Newswire - 9 July 2025 - Wildberries, a leading e-commerce platform in Eurasia, has begun testing its own ride-hailing service in Belarus. The company expects the n...

DYXnet Awarded ISO/IEC 42001 AI Management System Certification by SGS

Leading the New Era of AI in Hong Kong's Telecommunications Industry HONG KONG SAR - Media OutReach Newswire - 9 July 2025 - DYXnet, a wholly-owned subsidiary of VNET Group, Inc...

Prince Foundation Extends Support for Children’s Healthcare in Cambodia Through Cambodia Kantha Bopha Foundation, Reflecting Commitment Guided by Neak Oknha Chen Zhi

PHNOM PENH, CAMBODIA - Media OutReach Newswire - 9 July 2025 - Prince Foundation, the philanthropic arm of Prince Holding Group under the leadership of Neak Oknha Chen Zhi, has reaffirmed its ong...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

Sell by LayBy