Singtel offers insurance plan that waives customers’ mobile bill up to $600 if they are retrenched
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Singtel’s announcement comes amid rising retrenchments in Singapore, according to the latest Ministry of Manpower labour market estimates.
PHOTO: ST FILE
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SINGAPORE – Singtel postpaid mobile users who are eligible can get one year of free insurance coverage for their bills in the event of retrenchment or accidental death.
The local telco and Etiqa Insurance Singapore launched the Singtel Bill Protect insurance plan on Thursday to cushion Singaporeans from adverse economic situations.
In the event of retrenchment, those eligible for the plan can get their Singtel bills for mobile and fixed broadband plans waived for up to six months, up to a maximum of $600.
Singtel’s announcement comes amid rising retrenchments in Singapore,
The plan also covers 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 $1,200.
Singtel postpaid mobile subscribers who are Singapore citizens or permanent residents aged 17 to 65 are eligible for this plan. Starting from Thursday, new and existing customers can sign up for the plan as long as they are subscribed to at least one Singtel postpaid mobile line. The telco currently has more than two million postpaid mobile subscribers.
Said Ms Anna Yip, CEO of Consumer Singapore, Singtel’s consumer business arm: “We aim to help ease the strain of life’s uncertainties by ensuring that our customers impacted by adverse conditions like retrenchments can stay connected without worrying about their bills.”
Singtel Bill Protect is part of a broader series of Singtel Protect telco assurance offerings, which include a plan for protection against death and permanent disability, a plan that covers unexpected illnesses and a plan that helps customers invest. All these plans cost extra for subscribers.
Telco StarHub also has a cyber protection policy called CyberCover that provides financial support for its mobile and broadband customers affected by cyber bullying, identity theft, unauthorised transactions, and undelivered or discrepancies in online purchases. It costs $10.08 a month for individual coverage and $13.11 a month for family coverage.
If legal consultation, tech support, counselling for trauma, or support against online harassment is required, StarHub customers can submit a claim to cover the incurred expenses.
Singtel is currently the only telco that Etiqa is partnering with, said Mr Raymond Ong, chief executive officer of the insurer.
Etiqa started collaborating with Singtel through mobile e-wallet Singtel Dash in 2020 by becoming the underwriters for their insurance component, focusing on wealth accumulation, he said.
Mr Ong added: “The partnership’s take-up rates have been quite encouraging so far, given that we still within the early days of the products being available to Singtel’s customers.”
