Old Mutual Group in Zimbabwe has decided to join the fight against the novel corona virus and pledged to provide Z$2 billion worth of life cover to health workers on the frontline of the coronavirus fight.
“We join the fight against the COVID-19 virus by availing ZWL$ 2 billion worth of cover to health professionals on the front line in the fight against the COVID-19 pandemic for a period of 6 months,’’ the company said in a press statement.
To qualify for the scheme, health professionals will have to register with the Old Mutual Insurance to receive free cover for six months with an offer of an opportunity to continue the cover beyond six months at a discounted cost
In the event of losing the life of a health professional, Old Mutual undertakes to pay up to 12 times monthly basic salary to the surviving family of the health professional and through this scheme, COVID-19 deaths and accidental deaths will be covered immediately whilst death from any other causes will have a three- month waiting period.
Old Mutual together with its banking subsidiary, CABS, is also spending an additional ZW$3.5 million to supply personal protective equipment kits for healthcare staff at Harare Hospital and at Thorngroove in Bulawayo. Each of the 200 kits comprises two PVC aprons, two cotton gowns, 10 respirators, 10 overshoes and one box of latex gloves.
“In this period of crisis, we have mobilised to work alongside those who are fighting the epidemic, which is why we have decided to make this practical gesture of support to our hospital staff, who are working to ensure adequate care for patients as well as universities which are innovating to produce key materials required to fight the pandemic,” said Old Mutual chief executive Sam Matsekete in the statement.
“The priority is to safeguard the health professionals as they battle to save the lives of Zimbabweans. In the unfortunate event of losing the life of a health professional, Old Mutual undertakes to pay up to 12 times monthly basic salary to the surviving family of the health professional,” Matsekete said.
CABS will also fund Africa University in Mutare and Chinhoyi University of Science Education to help them ramp up production of sanitisers and face masks.