Insurance for freelancers to guard against income loss

GigaCover founders Chua Cheng Xun (left) and Amerson Lin. The local start-up has launched the Freelancer Income Protection (Flip) policy.
GigaCover founders Chua Cheng Xun (left) and Amerson Lin. The local start-up has launched the Freelancer Income Protection (Flip) policy. PHOTO: LIN ZHAOWEI FOR THE STRAITS TIMES

Policy launched recently among suggestions by group looking into needs of self-employed

Freelancers such as private-hire car drivers, sport coaches and tutors can now purchase insurance to mitigate the loss of income during long periods of illness or hospitalisation.

The first of such products - underwritten by Etiqa and created by local start-up GigaCover - hit the market earlier this month, while NTUC Income is said to be keen to put out a similar scheme.

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A version of this article appeared in the print edition of The Straits Times on June 22, 2018, with the headline 'Insurance for freelancers to guard against income loss'. Print Edition | Subscribe