Singtel and Etiqa Insurance Singapore have launched Singtel Bill Protect, a complimentary insurance plan to cushion Singaporeans from adverse economic situations and stay connected even if they face financial difficulty. Retrenchments in Singapore have risen for three quarters in a row, according to the latest Ministry of Manpower labour market estimates*.
Against the backdrop of rising economic and job uncertainty, the Bill Protect plan helps Singtel customers who face financial hardship due to a loss of employment with waivers on their upcoming Singtel mobile and fixed broadband bills.
Anna Yip, CEO, 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.”
Raymond Ong, CEO, 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.”
Eligible insured persons** 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 addition to retrenchment, the plan also covers accidental death***.
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 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.
*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.
