SINGAPORE - Media OutReach - 7 December 2018 - Etiqa Insurance Singapore introduces Tiq Travel Insurance with Pre-Ex plans that cover pre-existing medical conditions for travellers, an essential feature that is not commonly offered with local travel insurance plans. Consumers can also enjoy the flexibility to customise their travel protection plan with add-ons such as child education cover and pet hotel cover.
The newly launched Tiq Travel Insurance offers three options under its Pre-Ex plans to suit varying degree of protection needs. The coverage includes overseas medical and hospital expenses of up to S$150,000, and emergency medical evacuation and repatriation of up to S$250,000 in the event a traveller suffers any illnesses due to a pre-existing medical condition during the trip.
"While awareness on travel insurance is generally higher than other life insurance products, many are unaware that most insurance companies do not cover expenses or losses that are incurred as a result of existing medical conditions during one's travel, and these costs can be substantial." said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Pte. Ltd., referring to a high-profile case in 2017 when a Singapore family incurred S$250,000 of unsubsidised hospitalisation bill in Japan after the father suffered a cardiac arrest during the vacation.
Sue adds, "With increasing cases of invisible diseases amongst young people, the ageing population in Singapore, and the high cost of overseas medical treatment, there is a need for greater awareness and more relevant protection plans for Singaporeans who love to travel."
The new Tiq Travel Insurance also offers optional add-ons, meeting the needs of travellers based on learnings from Etiqa's recent in-house consumers' study. These value add-ons such as Pet Hotel Cover, Rental Car Excess Cover, Sports Equipment Protector and Child Education Cover are designed to address concerns that travellers might have due to unexpected encounters during their trip.
In order to cater to changing travellers' demographics, travel style and party composition, Tiq Travel Insurance can be purchased for individuals, married couples, family of up to 6 adults, and group of up to 10 people. Individuals who are travelling together as a group can purchase different plans that cater to individuals' protection needs and preference under the group insurance.
Known for its customer-centric products, Etiqa Insurance is the first insurer in Singapore to offer automated flight delay claims with instant pay out in the unfortunate event of a flight delay. At present, Tiq Travel Insurance is the only travel protection plan in Singapore that offers flight delay benefits upon three consecutive hours of delay, as opposed to industry's norm of minimum six hours' delay.
To find out more about Tiq Travel Insurance, please visit: http://po.st/TiqTravel
Etiqa Insurance -- A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.
Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.
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, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.
At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow.