src=9396587;type=ctpma0;cat=china0;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;npa=;ord=1? Financial Aid Initiatives to Combat against COVID-19_EN newsroom


Singapore, 25 February 2020: China Taiping Insurance (Singapore) Pte. Ltd. (“CTPIS”) has launched new initiatives providing financial aid to help its existing and new life insurance customers, to better protect against COVID-19.

Under the shadow of COVID-19, everyone is concerned over their well-being. At China Taiping, our mission is to build a safe, healthy and wealthy life for all. We express our care through our new financial aid initiatives.

Mr. Lance Tay, General Manager, Life Insurance, China Taiping Insurance Singapore said, “Customers are our top priority. We want to give all our existing and new Life Insurance customers additional peace of mind during this challenging time with our complimentary insurance coverage which provides financial aid upon diagnosis, hospitalization and recovery from COVID-19. Our recovery bonus is unique to CTPIS, something that a COVID-19 patient can look forward to celebrating after winning the battle.”

About Financial Aid Initiatives


Key Benefits

1. Financial Aid Campaign
   (for Life Insurance Customers)

Complimentary insurance coverage for existing and new Life Insurance customers. New policies submission by 29 May and coverage till 31 July 2020.

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  • Diagnosis Benefit

Lump –sum payout of S$1,000 upon diagnosis of COVID -19 in Singapore.

  • Hospital Cash Benefit

Daily hospitalization benefit of $100/day up to 30 days.

  • Recovery Bonus

Upon full recovery, the insured will receive a bonus of S$1,000.

  • Death Benefit

Additional S$10,000 payout on top of the existing policy’s death coverage.

2. Personal Accident Safe

Enhanced Personal Accident Safe plan allowing customers to enjoy greater financial security.

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  • Daily Quarantine Benefit

S$100/day up to 14 days (order issued by Ministry of Health).

  • Medical Expenses Benefit

Up to S$500 per policy year (limited to one incident).

  • Death Benefit

S$10,000 payout due to COVID-19.


As China and the rest of the world combat the COVID-19, our parent company, China Taiping Insurance Group, provides free insurance coverage to all frontline medical staff in Wuhan to a total of RMB 10 million. In addition, the Group made a cash donation of RMB10 million to Hubei Province to combat the epidemic.


About China Taiping Insurance Singapore

China Taiping Insurance (Singapore) Pte. Ltd. (“CTPIS”) is a leading insurer for both life and general insurance businesses. Established in Singapore since 1938, CTPIS has a financial strength rating of A- by S&P and A by A.M Best. We have been assuring our customers in Singapore with financial peace of mind for over 80 years.

CTPIS is wholly-owned by China Taiping Insurance Holdings Company Limited, which has been listed on the Hong Kong Stock Exchange since 2000, making it the first Chinese-funded insurer listed overseas. China Taiping Insurance Group Limited is a large transnational financial and insurance group with business network in Mainland China, Hong Kong, Macau, North America, Europe, Oceania, East and Southeast Asia. The brand has gained international recognition over the years and successfully made the rankings in the “Global Fortune 500 Companies” since 2018.


Media Contacts

China Taiping Insurance (Singapore) Pte. Ltd.

Cindy Cheng
Head, Marketing
Tel: (65) 6389 6158

Stephanie Wong
Marketing Manager
Tel: (65) 6389 6540