MINDEF employees, SAF active servicemen insured for $100,000
By Pearl Forss, Channel NewsAsia | Posted: 02 January 2009 0004 hrs

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SINGAPORE: With effect from Thursday, 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 the employees 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 a 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