GXS Invest embeds insurance coverage with Singlife

Coverage will be up to three times the investment amount capped at S$100,000.

GXS Bank has partnered with Singlife to embed insurance coverage on GXS Invest, the bank’s first investment product.

Eligible customers who invest in the fund through GXS Invest will automatically receive complimentary group personal accident insurance underwritten by Singlife, the Singapore-based insurer said in a press release

The policy provides coverage for accidental death and total permanent disability. Eligible GXS customers will be covered for up to three times their investment amount, capped at S$100,000.  

To be eligible, customers must be between 19 and 75 years old, and be a Singapore  citizen, Singapore Permanent Resident, or a holder of a valid Singapore Employment Pass (excluding Work Permit holders). Customers must also be residing in Singapore and must not be classified as a Prohibited Person.

Insurance eligibility will be screened by GXS Bank and are subject to approval by Singlife.

GXS Invest in the Singaporean digital bank’s first investment offering. At launch, GXS Bank is offering the Fullerton SGD Cash Fund (Class G), a money market fund.