Following the launch of its Coronavirus (COVID-19) initiative,
Prudential Zenith Life Insurance has announced some additional benefits
designed to address the negative impact of the Coronavirus (COVID-19) pandemic,
which has claimed thousands of lives globally.
According
to a statement released by the company, the benefits which apply for a period
of 45 days – from April 3rd to May 18th 2020 – will ensure that customers who
have purchased or who intend to purchase any of the following Prudential Zenith
Life products: My Family Protection Plan, My Family Protection Plan Premier, My
School Fees Protection plan, PZL Term Assurance, PZL Hospital Plan and My
Savings Plan-Premier will enjoy a ‘Diagnosis Benefit’, which entitles the
insured who has been diagnosed with the COVID-19 virus by the State to a cash
amount of thirty-eight thousand and a ‘Treatment Benefit’ of nine thousand
daily for a maximum period of 25 days to cater for losses or incidental
expenses.
The
statement further noted that the company has reduced the normal waiting period
from 6 months to 14 days for these benefits to apply to any new customer, while
for existing customers, these additional benefits apply immediately.
Also,
for any customer who has bought a policy from the company and who is diagnosed
with COVID-19 or who is formally retrenched as a result of a business having to
close due to the COVID-19 pandemic, it will provide a three-month premium
holiday. This means that the policy will not lapse and the customer will still
enjoy the protection benefits of their policy even if they are unable to pay
their regular premiums during this period. This is in addition to any ‘Death
Benefits’ that are payable when due, as the company does not exclude death
caused by COVID-19 under any of its policies.
To
avoid any ambiguity, the company stated that it is important to note there are
policy exclusions to this offering as listed below:
We are not liable to pay claims if:
Treatment is for any reason other than the contraction of the COVID-19 virus.
On or after the start of the policy, the Covered Person travelled to any country or area included in the list of “countries/ areas with active community transmission of COVID-19” as announced by the Nigerian Ministry of Health or World Health Organisation at the time of his/her travel.
We are not liable to pay claims if:
Treatment is for any reason other than the contraction of the COVID-19 virus.
On or after the start of the policy, the Covered Person travelled to any country or area included in the list of “countries/ areas with active community transmission of COVID-19” as announced by the Nigerian Ministry of Health or World Health Organisation at the time of his/her travel.
The
covered person is in self-isolation or hospitalised but has not been officially
diagnosed and hospitalised by the State.
The
following shall apply to new clients only:
The Covered Person(s) has already officially been diagnosed with or already has signs or symptoms of COVID-19 at the time of signing on to the Plan
The Covered Person(s) was under mandatory self-isolation in the past 14 days from the time of registration due to close contact with an infected person or having demonstrated COVID-19 symptoms.
Other Important Points to Note
The benefits will be provided for all clients that qualify with active policies.
The Covered Person(s) has already officially been diagnosed with or already has signs or symptoms of COVID-19 at the time of signing on to the Plan
The Covered Person(s) was under mandatory self-isolation in the past 14 days from the time of registration due to close contact with an infected person or having demonstrated COVID-19 symptoms.
Other Important Points to Note
The benefits will be provided for all clients that qualify with active policies.
Benefit
are also available to ALL of our customers who’s employer has taken out a
Critical Illness policy with Prudential Zenith Life” to “Group Life policy with
Critical Illness rider
A claim can only be made once in respect of each Insured Life.
A claim can only be made once in respect of each Insured Life.
Covered
Lives refers to all lives covered under the policyholder’s active existing
insurance policy (ies) and includes all named individuals covered under a Group
Critical Illness policy taken out by an employer of those individuals.
An
Active Policy is a Prudential Zenith Policy which has not lapsed, been
cancelled or terminated and on which premiums are received as stipulated in the
contract of that policy.
All
claim substantiating documents, should be duly stamped and signed by the
issuing authority.
Live
life fully covered with Prudential Zenith.
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