Breaking: Covid-19 Insurance in Kenya Launched
GA Insurance Thursday launched a product that offers Sh100,000 to policy holders who contract Covid-19.
The beneficiaries will paid the cash after 16 days of paying the Sh3,000 annual premium, locking individuals who contract the disease within the set period.
Chief executive Sandeep Bhaduri said product is meant to ease medical bills and offer compensations to persons hospitalised or forced to go on quarantine after testing positive.
GA Covid-19 cover is a tailor-made Benefit Policy which will pay out KES100,000 to the Insured person or beneficiary after infection and hospitalization of at least 24 hours because of Covid.
This is a need-based policy made available for a window of time particularly, in response to the protection gap that was identified due to the COVID situation. This policy is intended to provide a coping mechanism to the financial distress / strain that one might be facing when infected with COVID and then hospitalised. The benefit beyond the threshold of 24 hours is irrespective of number of days spent in hospital and amount of hospital bills.GA Insurance
The policy will make the payout under the following conditions:
- The cover is limited to Kenyan residents staying in Kenya during the period of cover who are between the ages of 18 and 60
- The Insured must have contracted Covid-19 and hospitalized for at least 24 hours
in an accredited medical facility for the policy benefit to be paid
- The Insured must not have any pre-existing Respiratory Medical conditions
- There is a mandatory waiting period of 16 days after inception of the Covid-19 cover
Hospital bills for Covid-19 in Kenya are very high. Per patient COVID-19 case management costs in hospitals are substantial ranging from KES 21,359 per day for asymptomatic patients, KES 21,361 per day for patients with mild symptoms, KES 24,705 for patients with severe disease and KES 51,684 for critical COVID-19 patients in ICU’s
Such an insurance cover would go a long way to reduce the stress on families when they get it.
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