MINDEF employees, SAF active servicemen insured
for $100,000
By Pearl Forss,
Channel NewsAsia | Posted: 02 January 2009 0004 hrs
SINGAPORE: With effect from Jan 1, all MINDEF employees and
Singapore Armed Forces (SAF) active servicemen will be
automatically insured for S$100,000.
This initiative, which rides on the existing SAF Group Term Life
(GTL) insurance scheme, is aimed at encouraging them to have a
minimum level of insurance protection for themselves.
For a monthly
premium of S$12.80,
all
eligible MINDEF employees, regular servicemen who are aged 45 and
below, and full-time National Servicemen (NSFs),
who do not opt out of the scheme,
will be insured for the sum of S$100,000.
The insurance coverage will provide protection against personal
accidents in daily life.
MINDEF says it will
increase the monthly allowance of NSFs by S$20 to help them pay for
the monthly premium.
The increase in NSF
allowance also takes effect from January 1.
- CNA/yt