Old Mutual Malawi has announced a MK25 billion worth of free Mlera Life Cover to Malawi’s healthcare practitioners who are on the frontline in the fight against the COVID-19 pandemic.
The company announced the free cover in a statement dated May 26 and signed by Chief Executive Officer Edith Jiya.
According to Jiya, the cover will be available for six months with effect from May 1, 2020.
The cover is worth MK305 Million in premiums, which Old Mutual Life Assurance Company will forgo as health workers will not be required to pay premiums.
Eligible beneficiaries are those registered healthcare practitioners under the Medical Council of Malawi and Nurses & Midwives Council of Malawi estimated at 25,000.
Under the scheme, in the unfortunate event of losing the life of a registered healthcare practitioner registered under the cover, Old Mutual Life Assurance Company will pay MK1 Million to the healthcare practitioner’s family/beneficiaries.
COVID-19, accidental and non-accidental deaths are covered immediately barring death due to listed exclusions.
“We believe this intervention is timely and will assist in the cushioning part of the financial risk that our healthcare practitioners continue to face as they tirelessly fight this pandemic.
“Our priority is to financially safeguard the healthcare practitioners as they battle to serve the nation during this period,” said Jiya.
In addition to this initiative, Old Mutual Malawi through the Old Mutual Blantyre Foundation Trust has also contributed to the COVID19 Pandemic fight with a donation of medical equipment and resources amounting MK29.1 Million.
Other old mutual contributions include capacitation of the Mzuzu COVID-19 testing centre with items worth MK13 Million, MK4.1 Million towards procurement of test kits and other supplies to Lilongwe District Health Office and a donation of MK12 Million that will go towards procurement of assorted medical items for a national wide response.
In Malawi, 203 coronavirus cases have been registered. There have been four deaths and 42 recoveries.