Etiqa Launches Tiq Travel Insurance With Coverage For Pre-Existing Medical Conditions And Optional Add-Ons

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.