You are here

Aviva Singapore wins Mindef-MHA joint insurance tender

30968238.3 (38652667) - 09_06_2016 - AVIVA CEO.jpg
COMPOSITE insurer Aviva Singapore has secured the multi-million dollar group-employee benefits joint tender called last Christmas Eve by the Ministry of Defence (Mindef) and Ministry of Home Affairs (MHA).

COMPOSITE insurer Aviva Singapore has secured the multi-million dollar group-employee benefits joint tender called last Christmas Eve by the Ministry of Defence (Mindef) and Ministry of Home Affairs (MHA).

From July 1, all servicemen from the Singapore Armed Forces (SAF), Singapore Police Force (SPF) and Singapore Civil Defence Force (SCDF) will receive a S$150,000 group term life and S$150,000 group personal accident insurance coverage under a core scheme, during their full-time national service (NS) or reservist duties, with premiums to be paid for by Mindef and MHA.

This coverage is not subject to underwriting and covers pre-existing medical conditions.

Named Mindef & MHA Group Insurance, it is an added benefit over and above existing welfare and compensation frameworks, the two ministries said in a joint statement released on Tuesday evening.

sentifi.com

Market voices on:

The core scheme will cease upon a serviceman's completion of full-time NS, operationally ready national service (ORNS), volunteer service or the termination of employment with Mindef or MHA.

In addition, a voluntary scheme where coverage is up to S$1 million for group term life insurance and up to S$600,000 for group personal accident insurance, will also be offered to all personnel covered under the core scheme, public officers working in Mindef/SAF, all civilian staff working in MHA, as well as Defence Science and Technology Agency employees.

Under the voluntary scheme, they can opt for higher coverage for themselves and their dependants.

The voluntary scheme will be available from July 1 and Oct 1, for MHA and Mindef personnel respectively.

The ministries said that coverage under the voluntary scheme is portable and insured persons may continue with their existing coverage after the completion of full-time NS, ORNS, volunteer service or termination of employment with Mindef or MHA.

Servicemen who are current policyholders under each ministry's existing insurance scheme will have their existing coverage ported over to the voluntary scheme. There will not be a gap in insurance coverage.

Nishit Majmudar, chief executive of Aviva Ltd, welcomed the appointment, adding that the insurer has been providing insurance coverage for the SAF servicemen since 1983.

Aviva has been the long-time insurer for Mindef and SAF while the MHA account previously came under the care of rival insurer AIA Singapore.

"We have a dedicated team of Aviva relationship consultants in place to address the servicing needs of Mindef/SAF and MHA's personnel," said Mr Majmudar. "In addition, we have an existing dedicated portal for Mindef/SAF personnel's servicing and purchase needs, which will be extended to the MHA personnel. We are also in the midst of mapping out enhancements for the portal to add new features that will benefit their personnel."

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom