Singtel and Etiqa Insurance Singapore launch Singtel Bill Protect on 4th May 2023, this is a first-of-its-kind complimentary insurance plan to help Singaporeans with a cushion buffer from adverse economic situations and stay connected even if they face financial difficulty.
Singtel Bill Protect
As the world exited from a global pandemic crisis, the world is facing a new set of rising economic and job uncertainties in the year ahead. This complimentary Singtel Bill Protect plan helps Singtel customers who are facing financial hardship due to a loss of employment, with waivers on their upcoming Singtel mobile and fixed broadband bills, helping them to alleviate some of their financial burden and allowing them to focus on finding new opportunities.
Ms Anna Yip, Chief Executive Officer, Consumer Singapore, Singtel, said “Staying connected has become an essential part of modern lifestyle. By offering our new Singtel Bill Protect plan to our postpaid customers for free, we aim to help ease the strain of life’s uncertainties by ensuring that our customers impacted by adverse conditions like retrenchment can stay connected with their communities using Singtel’s superior network without worrying about their bills. That frees up their mind to focus on other more pressing priorities.”
Mr Raymond Ong, Chief Executive Officer of Etiqa Insurance Singapore, said “We are excited by the Singtel-Etiqa telcoassurance partnership, which will see the launch of initiatives and plans to achieve our vision of closing the protection gap that exists in Singapore, and help customers achieve peace of mind during difficult moments in their lives. The Singtel Bill Protect is a positive step towards achieving this vision by providing coverage for retrenchment and accidental death to support affected customers and their families.”
A helping hand in times of need
According to the latest Ministry of Manpower labour market estimates (1), retrenchments in Singapore have risen for three quarters in a row.
Eligible insured persons (2) who become retrenched can get their Singtel bills mobile and fixed broadband waived for up to six months, up to a maximum of S$600. In additional to retrenchment, the Singtel Bill Protect plan also covers accidental death (3).
Singtel Bill Protect is part of a broader series of Singtel Protect telcoassurance offerings that aim to help its customers narrow potential gaps in their insurance coverage to address life’s other unexpected adversities with Etiqa Insurance Singapore’s offerings. These easy-to-access solutions include Singtel Life Protect for protection against death and permanent disability; Singtel Health Protect, which covers unexpected illnesses; and Singtel Wealth Protect, which helps customers invest and accumulate wealth.
Etiqa Insurance Singapore will leverage their digital expertise and sales force to deliver these products to Singtel customers exclusively through Singtel’s digital and physical retail channels. Other solutions dedicated to enhancing the protection needs of Singtel customers under the Singtel and Etiqa Insurance Singapore partnership will also be progressively introduced.
Additional information on Singtel Bill Protect
Q: How long is the free coverage from Singtel Bill Protect?
A: This policy offers retrenchment and accidental death coverage that lasts 12 months from your sign-up date. A 90-day waiting period applies for the retrenchment benefit. However, withdrawing consent for Etiqa marketing offers will result in early termination of your plan.
Source: Singtel Bill Protect website FAQ
Q: What happens after the 12 months free cover end?
A: We will look at the take up and demand in the first year and will evaluate whether to extend it for our customers.
For more information about Bill Protect, please visit https://www.singtel.com/billprotect.
To learn more about the partnership between Singtel and Etiqa Insurance Singapore, please visit https://www.singtel.com/singtelprotect-etiqa and https://www.etiqa.com.sg/singtelpartnership.
Notes:
- https://www.mom.gov.sg/newsroom/press-releases/2023/0428-labour-market-advance-release—first-quarter-2023
- Customers who wish to sign up for this complimentary plan must be a Singapore citizen or permanent resident residing in Singapore, aged 17 to 65 years old, and subscribed to at least one Singtel postpaid mobile line.
- For accidental death, beneficiaries of the policyholder will receive a lump sum payout that is 12 times the last Singtel bill before death, up to a maximum of S$1,200.
* Information courtesy of Singtel *