United Overseas Bank partners with Prudential Singapore
United Overseas Bank and Prudential Singapore launched the UOB Lady’s Savings Account, “the only” financial solution for women in Singapore that combines a savings account with complimentary medical insurance for six female-related cancers.
The coverage amount is based on account holders’ monthly average balance over the past three months. For example, if the account holder saves between $50,001 to $75,000 on average over the past three months, she will receive $75,000 in coverage. If the account holder saves more than $100,000 on average, the sum assured increases to $200,000.
In 2018, over 40% of Prudential Singapore’s total critical illness claims were from females, with the top two female-related claims being for breast cancer and uterine cancer. In addition to the coverage, the account will come with additional wellness benefits such as free annual health screenings for diabetes, high cholesterol, high blood pressure, and cancer markers.
“Our experience with providing dedicated financial solutions to the women of Singapore goes back more than three decades when we launched the UOB Lady’s Card in 1989. Today, we bank one in two women in Singapore. Given that one in every four to five women may develop cancer in their lifetime, the UOB Lady’s Savings Account encourages women to grow their wealth while protecting their savings against six common female-related cancers, which are among the top ten cancers affecting women in Singapore. As they become more financially secure, we want to help them move towards securing other needs such as their health and wellness.” – Jacquelyn Tan, Head of Personal Financial Services Singapore, UOB.
“There is an 80% critical illness protection gap in Singapore, which is worrying especially against the backdrop of rising longevity and healthcare costs. As women live longer than men on average, they need to be prepared for higher healthcare-related expenses as they age. Through this collaboration with UOB, we want to continue to raise awareness about women-related diseases and to ensure our customers are able to focus on getting well in the event of a health crisis.” – Prudential Singapore’s Chief Customer Officer Goh Theng Kiat.
