La Capitale will provide free coverage for clients with a critical illness, who acquired insurance individually, but not through group insurance
La Capitale offers free critical illness coverage for insureds under Covid-19 hospitalisation. (Credit: fernando zhiminaicela from Pixabay.)
Canada-based La Capitale Insurance and Financial Services has unveiled its plans to offer free coverage for its insureds to help reduce the financial burden associated with Covid-19 hospitalisation.
The company said that its free coverage is aimed at clients with a critical illness, who acquired insurance individually, and not through group insurance offered by an employer.
The benefit includes a lump-sum amount of $2,000, covering the insured, the spouse and children, aged 18 or lower, who live at the same address as the insured.
La Capitale Insurance and Financial Services board chairman and CEO Jean St-Gelais said: “La Capitale is listening to what its members need, and we believe that this type of coverage can help reduce the financial stress when a family member is hospitalised.
“Our mission as a mutual company has always been to value and protect what our members hold most dear. This measure affects thousands of families in all provinces across Canada.”
La Capitale’s coverage for Covid-19 hospitalisation is a natural complement to critical illness insurance
The company said that its coverage for Covid-19 hospitalisation is a natural complement to critical illness insurance when the consequences for a family are considered.
In addition, its insurance type was designed to mitigate the financial impact on people diagnosed with a serious illness. The benefit will be automatically added to individual critical illness insurance contracts and will be available until 31 July 2020.
La Capitale said that its coverage will contribute to the gradual re-opening of the economy from the financial impact due to the hospitalisation of its clients and their family members.
Established in 1940, the company offers insurance products and financial services in Canada, through more than 2,800 employees, and has assets valuing $8.8bn.