Aviva Singapore has announced that its health insurance products will automatically cover side effects arising from the COVID-19 vaccination, at no additional premium.
In a statement, the insurer said the coverage for vaccine side effects will be incorporated into its Integrated Shield Plan, MyShield, and group health insurance plans. This includes medical bills incurred by policyholders should they suffer side effects that require hospitalisation or inpatient treatment, such as a severe allergic reaction.
However, the vaccine must be authorised by the Health Sciences Authority (HSA) and the individual must be medically eligible to receive it for the coverage to be valid.
In December, the HSA gave interim approval for the COVID-19 vaccine developed by Pfizer and BioNTech, which claims an efficacy rate of 95% based on clinical trials on over 40,000 participants. All other COVID-19 vaccines have yet to receive approval from the HSA.
“We made this decision to assure Aviva’s policyholders who may have concerns about medical expenses should they encounter side effects from the vaccine,” said Daniel Lum, Aviva singapore’s director of product & marketing. “As an insurer, it is our responsibility to act quickly and meet the evolving needs and apprehensions of individuals, thus ensuring the country’s national vaccination effort can run smoothly.”