Singtel and Etiqa launch free retrenchment coverage with Singtel Bill Protect

Singtel and Etiqa Insurance Singapore today launched Singtel Bill Protect, a first-of-its-kind complimentary insurance plan to cushion Singaporeans from adverse economic situations and stay connected even if they face financial difficulty.

Against the backdrop of rising economic and job uncertainty, the complimentary Bill Protect plan helps Singtel customers who face financial hardship due to a loss of employment, with waivers on their upcoming Singtel mobile and fixed broadband bills, alleviating some of their financial burden and allowing them to focus on finding new opportunities.

Anna Yip, Chief Executive Officer, Consumer Singapore, Singtel, said “Staying connected has become an essential part of modern lifestyle. By offering our new Singtel Bill Protect plan to our postpaid customers for free, we aim to help ease the strain of life’s uncertainties by ensuring that our customers impacted by adverse conditions like retrenchment can stay connected with their communities using Singtel’s superior network without worrying about their bills. That frees up their mind to focus on other more pressing priorities.”

“Staying connected has become an essential part of modern lifestyle. By offering our new Singtel Bill Protect plan to our postpaid customers for free, we aim to help ease the strain of life’s uncertainties by ensuring that our customers impacted by adverse conditions like retrenchment can stay connected with their communities using Singtel’s superior network without worrying about their bills. That frees up their mind to focus on other more pressing priorities.” Anna Yip, Chief Executive Officer Consumer Singapore, Singtel

Raymond Ong, Chief Executive Officer of Etiqa Insurance Singapore, said “We are excited by the Singtel-Etiqa telcoassurance partnership, which will see the launch of initiatives and plans to achieve our vision of closing the protection gap that exists in Singapore, and help customers achieve peace of mind during difficult moments in their lives. The Singtel Bill Protect is a positive step towards achieving this vision by providing coverage for retrenchment and accidental death to support affected customers and their families.”

A helping hand in times of need
Retrenchments in Singapore have risen for three quarters in a row, according to the latest Ministry of Manpower labour market estimates[1].

Eligible insured persons[2] who become retrenched can get their Singtel bills mobile and fixed broadband waived for up to six months, up to a maximum of S$600. In addition to retrenchment, the plan also covers accidental death[3].

Singtel Bill Protect is part of a broader series of Singtel Protect telcoassurance offerings that aim to help its customers narrow potential gaps in their insurance coverage to address life’s other unexpected adversities with Etiqa Insurance Singapore’s offerings. These easy-to-access solutions include Singtel Life Protect for protection against death and permanent disability; Singtel Health Protect, which covers unexpected illnesses; and Singtel Wealth Protect, which helps customers invest and accumulate wealth.

Etiqa Insurance Singapore will leverage their digital expertise and sales force to deliver these products to Singtel customers exclusively through Singtel’s digital and physical retail channels. Other solutions dedicated to enhancing the protection needs of Singtel customers under the Singtel and Etiqa Insurance Singapore partnership will also be progressively introduced.