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SINGAPORE – The seven insurers in the Integrated Shield Plan (IP) are expanding coverage to include hospitalization resulting from complications from Covid-19 vaccination.
This applies to all intellectual property policyholders who receive Covid-19 vaccines approved by the Health Sciences Authority and are vaccinated in Singapore, the Singapore Life Insurance Association said on Monday (January 25) ( LIA Singapore).
The special coverage will last until December 31, 2021.
“Extensions to the duration of coverage will be considered in the latter part of the year after monitoring the evolution of the situation,” the association said.
He added that the extended coverage is “in support of the nation’s measures to protect the community and allow Singapore to return to normalcy.”
Mr. Khor Hock Seng, President of LIA Singapore, said: “The life insurance industry fully supports the government’s efforts to encourage as many Singaporeans as possible to take the Covid-19 vaccine.”
“This proactive engagement by our members will give Singaporeans peace of mind that any adverse effects of the vaccine resulting in hospitalization will be covered.”
In response to inquiries from The Straits Times, LIA Singapore said that intellectual property policyholders will not incur additional premiums.
IPs are insurance plans that comprise MediShield Life, administered by the Central Provident Board (CPF), and a private insurance coverage component administered by the insurance company. The latter generally covers Class A or B1 wards in public or private hospitals.
MediShield Life, which covers all Singaporeans, is claimable for complications related to vaccination.
The association said that the private insurance segment of most PIs does not cover vaccination complications and that PI providers are expanding additional benefits to complement the coverage provided by MediShield Life.
Intellectual property insurers are AIA, Aviva, AXA, Great Eastern Life, NTUC Income, Prudential, and Raffles Health Insurance.
The Ministry of Health (MOH) is also planning to introduce a Vaccine Injury Financial Assistance Program to support people experiencing serious adverse events likely to be related to Covid-19 vaccines administered in Singapore.
Pauline Poh, 61, who works in the social services sector, said she intends to get vaccinated when the opportunity is offered and that the coverage gives her additional security.
Although he noted that coverage only lasts until the end of 2021, he welcomed the decision of the insurance companies to consider extending coverage if necessary.
Sunny Yu, who was not determined to get vaccinated, said it was good to know that you will have insurance coverage if you are vaccinated and suffer complications.
However, the 60-year-old engineer said he still had other factors on his mind, such as whether the vaccine is safe and whether the Pfizer-BioNTech injection that is approved for use here is best for him.
According to the Ministry of Health, those vaccinated can experience common side effects, similar to other vaccines. Most of the side effects are mild or moderate, and usually improve within three days.
They include pain, redness, swelling at the injection site; fever or chills; and headaches or muscle or joint pain. These can be treated with paracetamol, the Ministry of Health said on its website.
Other common side effects include tiredness or swollen lymph nodes in the neck or arms.
In very rare cases, the vaccine can cause a severe allergic reaction, the Health Ministry said. Signs include shortness of breath, swelling of the face, throat, eyes, or lips, fast heartbeat, dizziness and weakness, and a severe rash all over the body.
Those who experience such symptoms after vaccination should call 995 or go to the nearest Accident and Emergency (A&E) department immediately, the Health Ministry said.
Intellectual property policyholders with further questions are encouraged to contact their insurance representative or insurer.
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