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 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 are unfortunately diagnosed with COVID- 19 or passes away as a result of the disease.

As a trusted insurance partner and regional market leader in health and protection, Prudential is committed to safeguarding the health of people in Myanmar. In line with its “We Do” spirit, the company is stepping forward to bring greater assurance and assistance to its customers, especially during these uncertain times. Photo Source http://www.facebook.com/PrudentialMyanmarLifeInsurance

All new and existing customers will automatically benefit from the following free additional insurance cover. The offer is applicable to all customers onboarded on or before 11 July 2020. The insurance coverage is valid for 90 days. As the Diagnosis benefit, Prudential Myanmar will pay a lump sum benefit of 10% of the policy sum assured, caped at MMK 5,000,000, if the life insurance is diagnosed with COVID-19. For the Death Benefit, Prudential Myanmar will pay an extra 100% of the policy sum assured, capped at MMK 5,000,000 if the Life Insurance, if the Life Insured unfortunately passes away due to COVID-19.

Mr. Asit Rath, CEO of Prudential Myanmar, said, “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.” Photo Source http://www.facebook.com/PrudentialMyanmarLifeInsurance

In November 2019, Prudential was granted a license from the Ministry of Planning and Finance of Myanmar to operate a wholly-owned life insurance business in the country. Prudential Myanmar currently offers simple and easy-to-understand protection products that help customers meet their financial goals.

PRUGroup Life is a group term plan for companies and organizations. The insurance coverage provides protection against financial loss should death, total and permanent disability, or disability happen to any employee who is covered under the plan. PRUGroup Life is offered as an annual plan, with fees charged at just 1% of the sum insured. The plan covers:

• Death Benefit
• Total and Permanent Disability Benefit
• Injury Benefit

PRUGroup Life allows employers to provide important life coverage for employees and aids in the retention of staff. Meanwhile, employees under the plan enjoy financial security for their family members and dependents.

Prudential Myanmar’s one-year life insurance product for individuals, PRUTerm, provides protection against financial loss should death, total and permanent disability, or accident happen to the insured. It provides insurance protection at an affordable cost of just 1% of the sum insured and does not require the policyholder to undergo a medical examination. The plan covers:

• Death Benefit
• Total and Permanent Disability Benefit
• Accidental Injury Benefit
• Hospitalization Benefit due to Accidental Injury

For information about Prudential Myanmar’s life insurance products and the COVID-19 Free Cover initiative, visit www.prudential.com.mm/en/products and www.facebook.com/PrudentialMyanmarLifeInsurance.