UOB Lady’s Savings Account ending female cancer coverage

In March 2024, UOB launched a year-long promotion called The Unstoppable Pairing, offering extra rewards to UOB Lady’s Cardholders who also hold a UOB Lady’s Savings Account.

Depending on their Monthly Average Balance (MAB), accountholders can earn an extra 2-6 mpd on their UOB Lady’s Card spending, boosting the total earn rate to 6-10 mpd.

Though that was the headline attraction (in my opinion at least!), there was another perk: female accountholders received up to S$200,000 coverage for six female cancers, depending on MAB. While this shouldn’t replace a dedicated medical insurance plan, it was a nice little extra to have at no incremental cost.

Unfortunately, UOB has now decided to remove this benefit, which effectively makes the UOB Lady’s Savings Account identical for men and women. 

UOB Lady’s Savings Account removing female cancer coverage

Female UOB Lady’s Savings Accountholders currently enjoy coverage (underwritten by Prudential) for six types of cancer, namely:

• Breast
• Cervix Uteri
• Fallopian Tube
• Ovary
• Uterus
• Vagina/Vulva

The amount of coverage ranges from S$1,000 to S$200,000, depending on MAB. 

This is why even though I’ve argued that the ideal amount to place in a UOB Lady’s Savings Account is S$10,000 for an extra 2 mpd (though you might want to place more in the first month), if you’re a woman it’s better to place S$10,001, just so you can trigger the next higher band of cancer coverage.

Unfortunately, that will soon be irrelevant, as UOB has announced that it will be ending the female cancer benefit for all UOB Lady’s Savings Account customers effective 1 November 2024.

Please be informed that the Female Cancer Benefit for all female UOB Lady’s Savings Accountholders will cease from 1 November 2024.

Eligible Accountholders who are diagnosed before 1 November 2024 can continue to submit a claim within 90 days from date of diagnosis, subject to 90 days waiting period and other exclusions stated in the terms and conditions.

You can continue to enjoy up to 25X UNI$ per S$5 spent on preferred rewards category(ies) when you save with Lady’s Savings Account and spend with Lady’s Credit Card. Visit the official UOB Lady’s Savings Account website for other exciting benefits and promotions. Insured up to S$100k by SDIC.

-UOB

Accountholders who receive a diagnosis prior to 1 November 2024 can still submit a claim within 90 days to receive their payout. 

I find it quite interesting that UOB would cut this benefit, given how big a selling point it was when the account launched back in March 2020. But the upshot is that there will soon be no difference between a male and female UOB Lady’s Savings Accountholder. Both will enjoy identical benefits, though some of the birthday treats might be more female-focused (if you’re a dude who wants S$200 off Cheryl W Wellness & Weight Management, more power to you). 

Recap: Bonus miles with UOB Lady’s Savings Account

As a reminder, UOB Lady’s Cardholders will earn bonus UNI$ on their card spending based on the Monthly Average Balance (MAB) in their UOB Lady’s Savings Account. 

For example, a UOB Lady’s Solitaire Cardholder who has an MAB of S$15,000 would earn an extra 5X UNI$ (2 mpd), on top of the regular 10X UNI$ (4 mpd) earned from spending on his/her bonus categories.

The maximum bonus miles you can earn from the UOB Lady’s Savings Account follows the cap on your UOB Lady’s Card:

• UOB Lady’s Card: S$1,000 per calendar month
• UOB Lady’s Solitaire Card: S$2,000 per calendar month

Bonus categories for the UOB Lady’s Savings Account follow that of the UOB Lady’s Card, and bonus miles are credited (in the form of UNI$) on the 27th of the following calendar month. 

You can view this in the UOB TMRW app by tapping on Rewards+ > My Rewards > UNI$. You you will see a line item(s) called “UOB Lady’s Savings Bonus [X] UNI$”, where [X] is the tier you qualify for based on your MAB. 

For a detailed rundown of the UOB Lady’s Savings Account mechanics, refer to the post below.

Complete FAQs: UOB Lady’s Savings Account

Conclusion

From 1 November 2024, UOB will no longer offer female cancer coverage as a benefit for the UOB Lady’s Savings Account. That’s unfortunate, though you shouldn’t have been relying on this for primary coverage in the first place.

Instead, the real attraction is the bonus 2-6 mpd you can earn on the UOB Lady’s Card, which is currently scheduled to run till 31 March 2025.