NAIROBI, Kenya, July 13 -The Old Mutual Business has launched an enhanced medical cover with the inclusion of critical illness insurance benefits.
This will see customers under the Afyaimara family cover have access to a cash benefit of Shs 750,000 on the first diagnosis of a critical illness such as cancer.
This product enhancement is a collaboration between the Old Mutual General Insurance business which offers the Afya Imara family cover and the Old Mutual Life Assurance Kenya business which will underwrite the critical illness insurance benefit. The move is aimed at improving the health insurance experience for Kenyans.
Giving his remarks during the launch, the Head of Customer Experience & Retention Old Mutual General Insurance& Health Business Ken Omami said, “We believe that this new benefit further sets apart the Afya Imara customer value proposition ahead of other medical insurance plans in the market. This truly demonstrates our commitment to our purpose to transform lives and to enable the financial goals of our customers by keeping our promises,”
A critical illness benefit was in the past not embedded in the conventional medical cover, and hence customers had to seek alternatives through fundraisers and offloading their assets, which derailed their financial stability.
“As a business, Old Mutual has bridged this gap to meet customer’s needs, as critical illness insurance was designed for vulnerable moments such as receiving the news of a cancer diagnosis,” highlighted Evans Manduku, General Manager Life Distribution.
In this market-first solution, Afya Imara family cover customers will have peace of mind in the event of critical illness diagnosis, as in addition to what is already covered within the product offering for these illnesses, the enhanced cover will now provide a cash pay-out of Kshs. 750,000 on first diagnosis of specific critical illnesses including cancer, stroke, heart attack, kidney failure and paralysis.
For all levels of inpatient cover, Old Mutual Insurance will pay a cash lump sum of Kshs.750,000 if the policyholder or any of their covered family members is diagnosed with any of these illnesses. This benefit will go a long way in bridging the gap between the inpatient sub limits for newly diagnosed chronic illnesses and the costs of treatment.
Old Mutual Group rebranded in May 2022, seeing it migrate from the business name UAP Old Mutual Group. The Business seeks to drive innovation in financial service solutions, which will enable African households achieve financial stability.
