Prudential Myanmar provides free additional insurance cover against COVID – 19

In light of the COVID-19 pandemic, Prudential Myanmar Life Insurance Limited (Prudential Myanmar), a wholly-owned business unit of Prudential Corporation Asia, announced on April 22 that it will provide its customers with free additional COVID-19 coverage to help protect them against the threat posed by the virus.

Under the COVID-19 Free Cover initiative, Prudential Myanmar will issue lump sum benefits to any of its life insurance customers who is unfortunately diagnosed with COVID-19 or passes away as a result of the disease.

All new and existing customers will automatically benefit from the following free additional insurance cover. The offer is applicable to all customers on boarded on or before 11 July. The insurance coverage is valid for 90 days.

If the Life Insured is diagnosed with COVID-19, Prudential Myanmar will pay a lump sum benefit of 10% of the policy sum assured, capped at MMK 500,000. If the Life Insured unfortunately passes away due to COVID-19, Prudential Myanmar will pay an extra 100% of the policy sum assured, capped at MMK 5,000,000.

“With the continued spread of COVID-19 across the world, Myanmar’s socio-economic development and the livelihoods of its people have been severely impacted. In light of the urgent need for health protection, we wish to assure our customers and their families that we remain committed to protecting their health and financial well-being. Our free-of-charge COVID-19 protection coverage is aimed at providing peace of mind as we battle the pandemic together,” Mr. Asit Rath, CEO of Prudential Myanmar, said.

In November 2019, Prudential was granted a life insurance licence from the Ministry of Planning and Finance (MoPF) of Myanmar to offer life insurance products and solutions to the people of Myanmar to meet their growing long-term protection and savings needs.

(Myanmar Business Today: https://mmbiztoday.com/prudential-myanmar-provides-free-additional-insurance-cover-against-covid-19/ )

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