Prudential Singapore commits $1.5m COVID relief package

Affected SME clients can defer their premium payments for up to three months.

Prudential Singapore has committed a $1.5m relief package to SMEs and individuals hit by the coronavirus, according to a news release.

Existing SME clients will have the option to defer their premium payments for up to three months to manage their cash flow and ensure there is no disruption to employee coverage. It will be available until the end of June 2020.

Individual customers and their family members served with quarantine orders will get a one-time $500 cash benefit, whilst those hospitalised will receive a daily $200 allowance for up to three months of hospitalisation. These are applicable to cases that emerge from 23 January to 30 June.