Insurer Tokio Marine hands out assistance funds to four coronavirus-stricken patients

SINGAPORE – Insurer Tokio Marine has disbursed $5,000 each to four of its life insurance policyholders who have contracted Covid-19, the company said on Thursday (March 19).

The initiative is part of the company’s plan to help affected customers and their family members tide through the challenging times, its statement added.

Tokio Marine was one of the first few insurers in Singapore to roll out assistance schemes aimed at alleviating the fallout from the coronavirus outbreak.

The insurer said on Jan 31 that its life insurance policyholders who had contracted the virus will receive a lump sum of $5,000 to tide them through the challenging period after they had been diagnosed by a local hospital.

The scheme, which ends April 30, is limited to the first 50 submissions.

Earlier, another insurer, Prudential, said that it had processed 66 submissions as of Feb 24 for the one-time $500 cash benefit the firm has rolled out for customers here who had been served quarantine orders amid the coronavirus outbreak.

Four of the 66 submissions include requests for the $200 daily hospitalisation allowance provided to Prudential’s customers and their family members who are warded for Covid-19.

The benefit is applicable to Covid-19 cases that occur between Jan 23 and June 30 and it extends to the customers’ family members, which include their spouses, parents and children.

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