NAIROBI, Kenya, Oct 4 – CIC Group has launched a medical insurance cover customized for cooperatives.
Dubbed CoopCare, the insurance plan which covers inpatient, outpatient, maternity, dental, optical and last expense aims to cater to the cooperative members and their affiliates with a minimum membership of 10 principal members with a maximum joining age of 70 years.
CoopCare also covers the dependants of the principal member to a maximum of 6 dependants to each category of the packages with additional charges for an extra dependant added.
Speaking during the launch CIC Group Chief Executive Officer Patrick Nyaga noted that it is wise to offer solutions that extend financial protection to members by reducing their exposure to healthcare risks, especially in an ecosystem that is dependent on cooperatives.
“Cooperatives are a huge enabler of financial inclusion and hold over 14 million members. The CoopCare cover has been designed to reduce or eliminate member risk exposure through an affordable, accessible medical insurance product,” said Nyaga.
He further noted that CoopCare is a testament to CIC’s commitment to advance cooperatives through relevant insurance products and also promote financial freedom to cooperatives.
The medical cover which was born out of the need for a credible insurance cover that caters to the needs of members of cooperatives employed deep understanding and interactions with the cooperatives to promote their financial freedom.
Commenting during the launch, CIC Managing Director General Insurance Fred Ruoro noted that patients have faced a huge financial burden of settling their medical expenses out of their pockets which sometimes leads to accumulated debts hence the need for having a medical cover.
“With CoopCare, we hope to see more cooperative members get access to quality healthcare services at low costs. While access to healthcare is a right, it can lead to high accumulated costs which present a financial burden. CoopCare has been built to ease this burden,” said Ruoro.
CoopCare cover includes benefits of up to Sh300,000 in inpatient, Sh50,000 in outpatient, Sh25,000 in maternity, Sh7,500 for dental and optical and Sh50,000 for last expense.
