As the COVID-19 situation continues to cause concern in Singapore and globally, the Monetary Authority of Singapore (“MAS”) will be providing support worth $500,000 to FinTechs and encouraging them to embrace new ways of working, including by coming onboard the APIX (API Exchange) platform.
As Singapore’s first insurance company on the APIX platform and a committed partner in Singapore’s FinTech ecosystem, Prudential is pleased to be able to do our part in this effort by offering a complimentary PRUAffinity Personal Accident Plan to eligible employees of Singapore-based FinTech companies that have signed up to the APIX platform.
This plan will increase the personal accident coverage for retrenched FinTech employees from $20,000 to $50,000 and will include Prudential’s PRUCare package which covers Covid-19 quarantine and hospitalization benefits.
Benefits under the PRUAffinity Personal Accident Plan
Product Overview & Benefits
How do I sign up?
Please scroll to the bottom of this page and fill in the online form there. You can enroll anytime between 8 April 2020 and 7 July 2020 (both dates inclusive).
How do I make a claim?
To make a claim under the PRUAffinity Personal Accident Plan, please download the claims form from https://www.prudential.com.sg/services/claims/how-to-submit-a-claim and email the completed form to SGP.ES.Claims@prudential.com.sg. The original form should also be posted to Prudential Assurance Company Singapore (Pte) Limited Robinson Road PO Box 492, Singapore 900942.
To make a claim under the PRUCare Package for COVID-19 (i.e. for those under QO or claiming the Hospital Cash Benefit), please refer to https://www.prudential.com.sg/others/Coronavirus
For more information on PRUAffinity Personal Accident Plan, speak to your Prudential Financial Consultant.
Call us at 6233 3299 today.
Other Support for FinTechs and Employees of FinTechs who are existing Prudential Customers
The COVID-19 outbreak has made this a challenging time for businesses, households and Singaporeans. To support customers who are financially impacted by the COVID-19 situation, all members of the Life Insurance Association have agreed to extend the grace period to pay premiums due by up to six months or 180 days.
In giving customers more time to pay their premiums, we want to help customers stay protected during this challenging time.
This extended grace period will apply to all policies with premiums due between 1 April 2020 to 30 September 2020 (both dates inclusive). Throughout the 6-month grace period, customers will continue to receive coverage from their plans. For more information, please refer to our FAQs.
You can also refer to Monetary Authority of Singapore (MAS)’s Media Release and FAQs for individuals and SMEs.
For more information on this additional support, speak to your Prudential Financial Consultant.
Call us at 1800 333 0 333 today.
PRUAffinity Personal Accident Plan FAQs
Why is Prudential offering this complimentary PRUAffinity Personal Accident Plan to FinTechs?
As the COVID-19 situation continues to cause concern in Singapore and globally, the Monetary Authority of Singapore (“MAS”) has put together a support package for FinTechs, including an APIX Cares package.
Prudential is Singapore’s first insurance company on the APIX (API Exchange) platform and a committed partner in Singapore’s FinTech ecosystem. We would like to play our part in supporting the employees of Singapore based FinTechs during these challenging times.
What are the key features of the PRUAffinity Personal Accident Plan?
This is a Personal Accident Plan with a Between Job Safety Net. You are covered under this policy for Accidental Death & Accidental Dismemberment, up to $20,000. This increases to $50,000 if you are involuntarily terminated from your job at the FinTech. This increased coverage lasts for 6 months or when you find a new job, whichever earlier.
You are also entitled to a one-time hospital income payout of $500 if you are hospitalized for dengue haemorrhagic fever.
In addition, as a Prudential customer, you will also be covered under our PRUCare programme. If you are issued a Quarantine Order relating to COVID-19, we pay you a one-time amount of $500. We also pay $200 per day in Hospital Cash for each day you are hospitalized in Singapore because of COVID-19, up to 3 months. For more information and terms of coverage, please visit https://www.prudential.com.sg/others/Coronavirus
Who is eligible for the PRUAffinity Personal Accident Plan?
Prudential is offering this PRUAffinity Personal Accident Plan to support AFIN’s COVID-19 Care Package for its FinTech partners.
You are eligible to enroll in this PRUAffinity Personal Accident Plan if you are a full-time employee of a Singapore-based FinTech company that has signed up to the APIX platform. You must also be a Singapore resident with a valid NRIC/ FIN between the ages 18 to 64 (age last birthday).
The nature of your work must be either indoor desk-bound administrative, clerical, executive, managerial or professional duties on land of a non-manual nature (eg. Accountant, clerk, computer programmer, manager and the like), or involving light manual work without any use or control of machinery and with no exposure to extraordinary health or accidental or special hazard.
How do I enroll as an insured in this plan?
Please scroll to the bottom of this page and fill in the online form there. You can enroll anytime between 8 April 2020 and 7 July 2020 (both dates inclusive).
Do I have to pay for this policy?
No payment is required. Prudential is offering this on a complimentary basis as part of the APIX Cares package, in support of MAS’ COVID-19 response.
How long will I be covered under this PRUAffinity Personal Accident Plan?
Our Master Policy with AFIN will run from 8 April 2020 to 7 April 2021. You will be covered from the date you enroll and the coverage shall end on 7 April 2021.
What will I be covered under the Accidental Death & Accidental Dismemberment benefit:
If you suffer an injury and subsequently:
- die; or
- are dismembered but do not die within 30 days from the Accident, we pay you a percentage of the sum assured shown in the Schedule of Indemnities.
If you die within 30 days from an Accident, we will pay only the Accidental Death Benefit as shown in the Schedule of Indemnities up to sum assured of S$20,000.
The maximum sum assured of this benefit is capped at S$20,000.
For detailed information, please refer to the policy contract.
What will I be covered under the Hospital Income benefit:
If you are hospitalized due to dengue haemorrhagic fever, we shall pay a one-time hospital income amount of S$500 per policy year.
This covers Dengue Haemorrhagic Fever Stage 3 or Stage 4 with unequivocal evidence of the Dengue Shock Syndrome and confirmation of dengue infection with confirmatory serological testing of dengue.
For detailed information, please refer to the policy contract.
What will I be covered under the Between Job Safety Net benefit:
If you suffer an injury and subsequently dies or is dismembered, within 6 calendar months from the date of involuntarily termination of your current employment or when you found a new job, whichever earlier, we shall pay the Accidental Death Benefit or Accidental Dismemberment Benefit up to the maximum sum assured of S$50,000, which is an increased coverage from the original $20,000 coverage.
For detailed information, please refer to the policy contract.
How do I make a claim?
To make a claim under the PRUAffinity Personal Accident Plan, please download the claims form from https://www.prudential.com.sg/services/claims/how-to-submit-a-claim and email the completed form to SGP.ES.Claims@prudential.com.sg. The original form should also be posted to Prudential Assurance Company Singapore (Pte) Limited Robinson Road PO Box 492, Singapore 900942.
To make a claim under the PRUCare Package for COVID-19 (i.e. for those under QO or claiming the Hospital Cash Benefit), please refer to https://www.prudential.com.sg/others/Coronavirus
How do I check the status of my claim?
You may check your claim by calling our Enterprise Business hotline at 6233 3299.
Will my family members be covered under the PRUCare scheme?
Yes, immediate family members are covered under the PRUCare package. An immediate Family Member includes the customer’s spouse, parents and children who are residing in Singapore and have a valid NRIC/FIN. For more information on PRUCare, please go to https://www.prudential.com.sg/others/Coronavirus
Important Notes
Important Notes
- This website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to this insurance product in the policy contract.
- The information contained on this website is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore.
- Most benefits of this plan will only be payable upon the occurrence of an accident.
- This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
Information is correct as at 8th April 2020.
[1] This benefit will not apply in the following circumstances: (a) Individuals who travelled out of Singapore on and from 27 March 2020 (inclusive) onwards; and/ or (b) individuals who fail to adhere to travel advisories released by relevant government authorities.
[2] A Quarantine Order (QO) is a directive issued to individuals under the Infectious Diseases Act and thus has legal force with severe penalties for non-compliance. For more information, please click on this link – https://www.moh.gov.sg/covid-19/faqs. Leave of Absence (LOA) or Stay Home Notice (SHN) are not considered QO.
[3] Admission to hospitals in Singapore