Prudential Life Assurance Kenya is giving Sh2,500 daily cash payouts to its customers put under compulsory government quarantine over coronavirus, setting a high bar for other insures.
The insurer will further give one-off cash benefit of Sh10,000 for its clients who test positive for coronavirus.
Those who will be admitted in hospital after testing positive for the novel coronavirus will receive Sh2,500 per night spent in hospital. The payout will double to Sh5,000 if they are placed in intensive care unit (ICU).
This means a single quarantined customer will receive payout of 35,000 given that State directive provides for at least 14 days of isolation for suspected cases.
The cash benefits set in tomorrow (April 1) but will however not be extended to customers who quarantine at home on their own volition or State direction. Customers eligible for this benefit include those who have Prudential policies through individual sales agents, group life policies through brokers, agents or those whose loans are insured through Prudential.
The insurer’s move confirms that it has waived the practice of not providing cover for pandemics as is usually the case with the insurance industry globally.
Prudential Kenya CEO Raxit Soni said the company has taken the unprecedented step to reach out to its clients by providing “support and comfort.”
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
