NAIROBI, Kenya, Jun 9 – KCB Bank Kenya customers holding residential mortgages will now be entitled to a cash benefit should they contract COVID-19 and are hospitalized.
This follows a deal between KCB Insurance Agency and UAP Old Mutual which will see customers, both new and existing, draw a free cash benefit of Sh1,500 per day up to a Maximum of 14 days.
The benefit is to be paid out on the first diagnosis of COVID-19, which has to be confirmed by a Government medical institution accredited to carry out coronavirus tests. The cover will run for a period of six months from June 1, 2020.
Speaking during the signing, KCB Agency Managing Director and Principal Officer Aggrey Mulumbi said: “We have taken various measures in playing our part in the society to cushion the vulnerable, and this is one of the ways we are showing support to our customers to ensure that everyone we count on, from staff, to customers to partners and the general public, can count on us”.
“UAP Old Mutual Group remains that certain friend in uncertain times and we are committed to honor all valid Life insurance claims related to the COVID pandemic. This partnership demonstrates the value we place in the well-being of our Customers and Kenyans as a whole,” said UAP Old Mutual Group Managing Director for the Life Business Jerim Otieno.
To ensure non-exposure to COVID 19 during the claim process, all documentation will be done online, with claims being processed within 48 hours upon submission.