LEAP201, a Singapore-based venture philanthropy organisation, and Migrant Workers’ Centre (MWC) have jointly raised $600,000 to enhance the protection of migrant workers beyond work.
The amount was revealed at a memorandum of understanding (MOU) signing between the two organisations on 30 September 2020 at the MWC Recreation Club. The agreement was witnessed by NTUC Secretary-General Ng Chee Meng and NTUC Income CEO Andrew Yeo.
The funds raised will go to subsidising the new Care4MigrantWorkers (C4M) insurance payments of the first 50,000 migrant workers who sign up, for the first two years.
The C4M is a new insurance scheme underwritten by NTUC Income that provides coverage to migrant workers beyond their working hours.
MWC Chairman Yeo Guat Kwang noted the importance of C4M, adding that heart attacks, cancers, strokes, and diabetes are some of the leading causes of death among the migrant worker community in Singapore.
“As many of these migrant workers are the sole breadwinner of their families, C4M will provide insured migrant workers with a lump sum payout should they fall ill to these unexpected medical conditions,” he said.
LEAP201 Chairman Michael Lien said before C4M, migrant workers had no affordable insurance coverage that will protect them against critical illnesses.
He added: “Not only are they no longer able to work, but they often have huge medical bills to foot and outstanding loans to pay their employment agents.
“Through this new insurance scheme, we have shown that it is feasible to protect migrant workers against critical illnesses at a low cost of 75 cents a month.”
NTUC Income’s Mr Yeo said that Income is glad to be able to offer C4M as an affordable option for employers to plug the protection gap of this community of workers.
“The payout from C4M, should the unfortunate happen, will go a long way in helping the insured migrant worker and family tide over a difficult time,” he noted.
With the subsidy, employers will only need to pay $3 per year for the first two years of coverage. Without it, C4M will cost $9 per year.
Under C4M, the policy will pay $10,000 to an insured migrant worker who passes away, suffers a total and permanent disability, or is diagnosed with one of the 37 stipulated critical illnesses.
Employers who wish to be early adopters of the new insurance scheme can contact MWC at feedback@mwc.org.sg to register their interest.
C4M will be available for purchase by 1 January 2021.
