SINGAPORE – Great Eastern (GE) has rolled out an insurance plan for self-employed, freelance and gig economy workers amid the Covid-19 outbreak, in a tie-up with telehealth provider Doctor Anywhere.
GE’s GREAT Comprehensive Care is an annual renewable plan that offers hospitalisation income, personal accident coverage, and outpatient care in a single policy, while touting it as the first in the market to do so.
The plan is designed to address the concerns of gig economy workers, many of whom will find it difficult to regain their pre-pandemic income even as most businesses and activities resume in the second phase of Singapore’s reopening, said the insurer in a media release on Monday (June 29).
“Without the support of employee benefits or corporate insurance coverage, the situation is even more challenging if these individuals are hospitalised due to an injury or illness and their daily income is curtailed,” said GE, the insurance arm of OCBC.
There are two plan types – basic and deluxe – with premiums starting from 73 cents a day, or about $22 a month.
Among its benefits, the basic plan provides a daily hospital cash benefit of $100 per day and an additional payout of $100 per day upon admission to the intensive care unit (ICU). This is for up to 365 days for hospital cash and 30 days for the ICU cash benefit. There is also a sum assured of $100,000 for accidental death or total and permanent disability, or $10,000 in the event of death due to Covid-19.
The basic plan’s outpatient healthcare coverage provides for six Doctor Anywhere video consultations, which can be shared with family members and friends.
Mr Ryan Cheong, GE managing director, digital for business, said that income and health protection has become all the more important for the self-employed, gig economy workers, and employees of small and medium-sized enterprises who may not have sufficient corporate insurance coverage or employee benefits.
With the new policy, “we aim to provide more affordable and accessible protection for these groups to give them greater peace of mind in the event of the unforeseen”, he said.
Mr Lim Wai Mun, founder and chief executive officer of Doctor Anywhere, said: “The pandemic situation has highlighted the need for flexibility in outpatient medical services. We are pleased to partner Great Eastern to offer reliable and affordable access to online healthcare services anytime, anywhere, through this innovative product.”