Every single one of South Africa's registered healthcare workers will now be entitled to free life insurance worth R10,000 in light of COVID-19, Business Insider reports insurance group Old Mutual has announced. Old Mutual said it extended the cover to the country’s roughly 430,000 health workers in an attempt to support the critical work they are doing to fight the pandemic.
The cover has no exclusions, and will include death related to any cause. In total, the cover by Old Mutual amounts to over R4bn. Interim CEO Iain Williamson said the cover is intended to provide relief to families who may have to deal with the tragic loss of a loved one during this period. He said unlike with traditional cover offered, this is neither a product nor a policy and no premiums will be recovered on it.
Healthcare professionals registered with the Healthcare Professionals Council of South Africa (HPCSA) or the South African Nursing Council (SANC) will be entitled to the cover. The report says it will be effective from 1 April 2020 to 31 December 2020, and becomes payable in the event of the death of a healthcare worker.
[link url="https://www.businessinsider.co.za/every-healthcare-worker-in-sa-will-get-r10000-in-free-no-strings-life-cover-from-old-mutual-2020-4"]Full Business Insider report[/link]