CIC Group has today announced that it has a launched a medical product specifically for cooperatives in Kenya, named CoopCare.
The cover will cater to cooperative members and their affiliates with a minimum membership of 10 principal members.The maximum joining age will be 70 years. The product will cover inpatient, outpatient, maternity, dental, optical, and last expense for cooperative members within Kenya.
CIC Group Chief Executive Officer Mr. Patrick Nyaga said that in an ecosystem that is highly dependent on cooperatives, it is prudent to provide solutions that extend financial protection to members by reducing their exposure to risk in different facets, including healthcare.
“Cooperatives are a huge enabler of financial inclusion and hold over 14 million members. Used as a tool for savings and investments, cooperatives not only increase financial access, but also provide a platform for communal growth. The CoopCare cover has been designed to reduce or eliminate member risk exposure through an affordable, accessible medical insurance product.’’
CoopCare will cover inpatient, outpatient, maternity, dental, optical and last expense benefits. Beneficiaries will have the option of purchasing inpatient only or both inpatient and outpatient covers. The cover includes benefits of up to Ksh. 300,000 inpatient, Ksh. 50,000 in outpatient, Ksh. 25,000 in maternity Ksh. 7,500 for dental and optical and Ksh. 50,000 for last expense.
The product includes selected a low cost provider panel that has mission hospitals and low cost private hospitals. Members can take up the product as a family package allowing up to six dependants (M+6) or as a Member only (M+0). Any family beyond the member and six dependants category will attract a minimal additional premium to cover the extra dependants. Premium rates range from Ksh. 2,500 to Ksh. 36,000 per year depending on the package.