COVID-19 Vaccine Side Effects: 7 Insurance Plans The Offer The Best Cover

·6-min read

In order to fight against coronavirus, Singapore has accelerated the national COVID-19 vaccination programme. According to the Ministry of Health (MOH), virtually all eligible Singapore residents would get their first vaccine dose by August.

The good news is that this list now also includes children between the ages of 12 and 15 years.

But while the vaccination push is much-needed and will bring about herd immunity, it is also making Singaporeans nervous. Especially because of the vaccine’s side effects. Which is why insurers are coming forward to solve this problem.

Best Covid Insurance Policy: What We Know About Vaccine Side Effects

best covid insurance policy
best covid insurance policy

Image courtesy: iStock

In most cases, the COVID vaccine side effects are mostly mild or moderate and will go away within a few days on their own. According to WHO, the typical side effects include pain at the injection site, fever, fatigue, headache, muscle pain, chills, and diarrhoea.

The less common side effects reported for some COVID-19 vaccines include severe allergic reactions such as anaphylaxis. However, this reaction is rare.

How the vaccine really works

After vaccination, it usually takes a few weeks for the body to build immunity against SARS-CoV-2, the virus that causes COVID-19. So it’s possible a person could be infected with SARS-CoV-2 just before or after vaccination and still get sick with COVID-19, according to WHO.

But if you have been fretting too much and worrying about the side effects, fret not. Experiencing side effects after getting vaccinated means your immune system is responding as it should.

Plus, there are insurance policies that cover hospitalisation due to Covid-19 vaccination side effects. So all you have to do is choose the best covid insurance policy.

To help you choose the best, we have compiled a list of providers who are offering this facility.

Best Covid Insurance Policy: 7 Providers Who Cover Vaccine Side Effects

best covid insurance policy
best covid insurance policy

Image courtesy: iStock

In January 2021, Life Insurance Association, Singapore (LIA Singapore) announced that all seven Integrated Shield Plan (IP) insurers are extending coverage to COVID-19 vaccination complications that result in hospitalisation.

The seven IP insurers include: NTUC Income, AXA, AIA, Aviva, Great Eastern, Prudential, and Raffles Health Insurance. There are other players who have also joined in.

Here’s a look at what these insurers offer:

1. FWD Covid-19 Plan

Eligibility criteria: Singapore residents aged 18 to 65 who sign up before June 30, 2021

Fee: $28 for 100 days of cover, starting from the date of purchase.

Phone: +65 6820 8888

Benefits:

1. One-time lump sum payout of $5,000 in the event of hospitalisation. This can be done in either the intensive care unit or high dependency ward for at least 12 hours due to Covid-19 vaccination side effects within 30 days of the vaccination.

2. It also includes a $50,000 cover in the event of death due to Covid-19. Or, $100,000 if you’re a critical frontline working in health and social/food/transportation/storage services.

Note: Valid Till December 31, 2021

2. AIA Covid-19 Vaccine Cover

Eligibility criteria: Singapore residents aged two weeks to 65 years old who apply by June 30, 2021. You don’t have to be an existing AIA policyholder to apply. Remember, only 200,000 policies are up for grabs.

Phone: 1800 248 8000

Benefits:

1. Daily hospital cash payouts of $500 per day for up to two days if you’re hospitalised due to Covid-19 vaccine complications (minimum 24-hour hospital stay).

2. Lump sum of $500 cash for hospitalisation if you get Covid-19. This coverage starts from the date of application and ends on December 31, 2021.

3. Raffles COVID Safe Cover

Eligibility criteria: All Singapore residents aged between 19 and 65 (age next birthday) are eligible. You don’t have to be an existing insurance holder to sign up for this insurance cover. All you will have to do is sign up via the Raffles Connect app any time before getting your jab.

Benefits:

1. Up to $5,000 hospitalisation coverage in Raffles Hospital if you’re hospitalised for Covid-19 vaccine complications that arise within seven days of each vaccination dosage.

2. Coverage starts automatically when you receive your Covid-19 vaccine. It is automatically terminated after seven days after the latest Covid-19 vaccine dosage.

4. AVIVA health insurance plans

Eligibility criteria: Existing Aviva customers with health insurance plans can avail this plan.

Fee: It is free

Benefits:

1. Covers medical bills including hospitalisation or in-patient treatment arising from Covid-19 vaccinations.

2. Policyholders with eligible plans do not have to apply for Covid-19 vaccination side effects coverage as it’s automatically included in their plans.

5. AXA Integrated Shield Plan

Eligibility criteria: Existing AXA Integrated Shield Plan policyholders can apply for this specific plan.

Benefits:

1. Reimbursement of daily ward and treatment charges as charged by the hospital (subject to conditions) if hospitalised due to side effects arising from Covid-19 vaccinations.

2. This coverage is valid two months from the date of Covid-19 vaccination, until December 31, 2021. You do not need to apply need for the Covid-19 cover as it is automatically extended in the existing customers’ policies.

6. Etiqa Financial Assistance Benefit

Eligibility criteria: Existing Etiqa policyholders and new and existing Maybank Singapore customers, aged between seven and 70 years old on the date of the first vaccination can applu.

Fee: It is free for those who are eligible.

Benefits:

1. If you need to get hospitalised due to reactions from Covid-19 vaccinations, you will receive daily hospital cash benefits of $100 for up to 10 days, ICU benefit of $200 for up to five days.

2. The coverage will be valid for three months from the first dose of the vaccine.

7. Great Eastern’s Great Vaccine Fund

Eligibility criteria: Great Eastern customers and their immediate family members who are Singapore residents can apply.

Fee: For existing customers who have the selected Great Eastern policies, it is free. You can check the list here to see if you are eligible for it.

Benefits:

1. This policy covers daily hospital cash benefit of $300 per day for up to seven days for hospitalisation due to Covid-19 vaccination effects. Here, your coverage will be valid for three months starting from the day of your first vaccine dose.

2. The policy is valid until December 31, 2021, or until an aggregate total of $1mil of the Great Vaccine Fund has been incurred.

It is advisable that you go through the fine prints of each policy provider and then choose the one based on your requirement.

Don’t worry about the side effects because vaccination is the only way Singapore can achieve herd immunity. Even after you get your jabs, keep following the COVID guidelines. Wash your hands with soap and water, wear a mask and stay at home.

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