Johannesburg 04 August 2020 – As South Africa slowly approaches its 5th month of the National Lockdown because of the COVID-19 pandemic, reported cases have surpassed 500 000 as of date. Predictions by relevant authorities are preempting a significant rise with the progression of the winter season.
A large percentage of South Africans have already started seeing a significant impact on their personal finances during this period. Salary cuts and retrenchments have taken a huge toll forcing many to scale down their monthly spending and digging into their life savings.
A new product meant to be the solution for this has been designed, it is called “The Pandemic Shield” Insurance.
The Pandemic Shield Insurance Solution has been designed to ease the worry of having to meet additional costs such as medication, transport and childcare during hospitalization, and a prolonged recovery period after hospitalization, which can place further stress on personal and family finances.
“Our Pandemic Shield policy for individuals is the first of its kind on the African continent, providing an affordable solution that pays out a lump sum or stated benefit if the policyholder is admitted to hospital as a result of being positively diagnosed with COVID-19 – or any other World Health Organization declared pandemic illness in the future. The benefit trigger is a hospital admission longer than 48 hours, with a waiting period of 21days only” says Carl Moodley, Director and Chief Underwriting and Claims Officer at Genric.
If you happen to find yourself unexpectedly admitted to hospital after been diagnosed with the Coronavirus, this policy will provide the invaluable financial safety net needed.
For more info on the policy visit :
NB: The contents of this article do not constitute financial advice and should not be construed as such. This is not a medical scheme and the cover is not the same as that of a medical scheme. This policy is not a substitute for a medical scheme membership. Pandemic Shield, is a product of Sirago Underwriting Managers (Pty) Ltd, an Authorised Financial Services Provider (FSP: 4710), underwritten by GENRIC Insurance Company Limited (FSP: 43638). GENRIC is an Authorised Financial Services Provider and registered Short-term insurer.
ISSUED BY AMAHLE COMMUNICATIONS ON BEHALF OF PANDEMIC SHIELD AND GENRIC