Britam Insurance yesterday launched a product that will assist families address the heavy financial burden of treating chronic illnesses amid rising disease incidences.
The inpatient medical cover has no age limit meaning individuals who join the scheme before reaching age 70 will be covered for life. People over 70 years will also be allowed to join. The health plan, dubbed Milele seeks to cover against illinesse such Heart Attack, Stroke, Cancer, Kidney failure, Coronary artery bypasses surgery, Aortic Surgery, Heart Valve Surgery, Major organ transplant, Paraplegia, Coma, Blindness, Multiple Sclerosis, Accidental Brain Damage, Motor Neuron Disease, Dementia (including Alzheimer’s and Parkinson’s disease)
“The aim is to enhance our health insurance customer experience by improving their wellbeing through healthy lifestyle options and ensuring they are covered for life,” said Britam’s principal executive director Stephen Wandera
“Through various partners, both local and international, our customers can enjoy an array of benefits that include maternity cover, road and air evacuation, free critical illness, personal accident covers, last expense cover and support to lead a healthier lifestyle.”
It will also cover overseas treatment, stress management consultation, nutrition and family planning.
According to the Insurance Regulatory Authority medical insurance, the segment reported a 36 per cent claim rate to stand at Sh20.5 billion out of the Sh27.1 billion paid in net premiums in 2018, making it the second biggest claimant after motor vehicle insurance. In the same year, medical registered a net claimed ratio of 75.6 per cent which is above the global benchmark of 60 per cent
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