Free Insurance Protection Against COVID-19

Yangon, Myanmar,22April2020–In light of the COVID-19 pandemic, Prudential Myanmar Life Insurance Limited (Prudential Myanmar), a wholly-owned business unit of Prudential Corporation Asia, today announced it will provide its customers with free additional COVID-19 coverage to help protect them against the threat posed by the virus. Under the COVID-19 Free Cover initiative, Prudential Myanmar will issue lump sum benefits to any of its life insurance customers whoisunfortunately diagnosed withCOVID-19 or passes away as a result of the disease.

As a trusted insurance partner and regional market leader in health and protection, Prudential is committed to safeguarding the health of people in Myanmar. In line with its “We Do” spirit, the companyis stepping forward to bring greater assurance and assistance to its customers, especially during these uncertain times.

All new and existing customers will automatically benefit from the following free additional insurance cover. The offer is applicable to all customers onboarded on or before11 July 2020. The insurance coverage is valid for 90 days.

Diagnosis Benefit  If the Life Insured is diagnosed with COVID-19, Prudential Myanmar will pay a lump sum benefit of 10% of the policy sum assured, capped at MMK 500,000 
Death Benefit  If the Life Insured unfortunately passes away due to COVID-19, Prudential Myanmar will pay an extra 100% of the policy sum assured, capped at MMK 5,000,000 

 

Mr. Asit Rath, CEO of Prudential Myanmar, said, “With the continued spread of COVID-19 across the world, Myanmar’s socio-economic development and the livelihoods of its people have been severely impacted. In light of the urgent need for health protection, we wish to assure our customers and their families that we remain committed to protecting their health and financial well-being. Ourfree-of-chargeCOVID-19 protection coverage is aimed at providing peaceof mind as we battle the pandemictogether.”

“Prudential Myanmar is standing by thepeople during these challenging times.We would especially like to pay tribute tothose who havebeen contributing in their own waysto contain theoutbreak of the disease. Our heartful thanks goes tothe staffofthe Ministry of Health and Sports and the frontline healthcare workers. With our combined efforts, Myanmar willovercomethis situation sooner and stronger,” he added.

In November 2019, Prudential was granted a licence from the Ministry of Planning and Finance of Myanmar to operate a wholly-owned life insurance business in the country. Prudential Myanmar currently offers simple and easy-to-understand protection products that help customers meet their financial goals.  

PRUGroup Life 

PRUGroup Life is a group term plan for companies and organisations. The insurance coverage provides protection against financial loss should death, total and permanent disability or disability happen to any employee who is covered under the plan. PRUGroup Life is offered as an annual plan, with fees charged at just 1% of the sum insured. The plan covers: 

  • Death Benefit 
  • Total and Permanent Disability Benefit 
  • Injury Benefit  

PRUGroup Life allows employers to provide important life coverage for employees and aids in the retention of staff. Meanwhile, employees under the plan enjoy financial security for their family members and dependents. 

PRUTerm 

PrudentiaMyanmar’s one-year life insurance product for individualsPRUTerm, provides protection against financial loss should death, total and permanent disability or accident happen to the insured. It provides insurance protection at an affordable cost of just 1% of the sum insured and does not require the policy holder to undergo a medical examination. The plan covers: 

  • Death Benefit 
  • Total and Permanent Disability Benefit 
  • Accidental Injury Benefit 
  • Hospitalisation Benefit due to Accidental Injury 

For information about Prudential Myanmar’s life insurance products and the COVID-19 Free Cover initiative, visit www.prudential.com.mm/en/products and www.facebook.com/PrudentialMyanmarLifeInsurance 

 

END 

 

For media queries, please contact: 

Chilli Agency (for Prudential Myanmar Life Insurance) 

 

Ms. May Mya ThuMs. Hsu Myat Thet 

Mobile: +959 97326 7579Mobile: +959 97452 4690 

Email: maymyathu@chilli.agencyEmail: hsumyatthet@chilli.agency  

About Prudential Myanmar Life Insurance 

Prudential Myanmar Life Insurance (Prudential Myanmar) is a wholly-owned life insurance operation in Myanmar under Prudential Corporation Asia. In November 2019, Prudential was granted a life insurance licence from the Ministry of Planning and Finance (MoPF) of Myanmar to offer life insurance products and solutions to the people of Myanmar to meet their growing long-term protection and savings needs. 

Prudential Myanmar is focused on supporting national efforts to raise life insurance penetration and financial inclusion in the country. With its technology-enabled approach, Prudential Myanmar is committed to reach as many people as possible, and to ensure they enjoy an easy, simple and convenient experience.  

For more information, please visit Prudential Myanmar’s corporate website: www.prudential.com.mm or Facebook page: www.facebook.com/PrudentialMyanmarLifeInsurance  

 

About Prudential Corporation Asia 

Prudential Corporation Asia is a business unit of Prudential plc (United Kingdom)*, comprising its life insurance operations in Asia and its asset management business, Eastspring Investments. It is headquartered in Hong Kong. 

Prudential is a leading life insurer with operations spanning 13 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Through a robust multi-channel distribution platform, Prudential provides a comprehensive range of savings, investment and protection products to meet the diverse needs of Asian families.   

Eastspring Investments manages investments across Asia on behalf of a wide range of retail and institutional investors. It is a leading Asia-based asset manager with on-the-ground presence in 11 major Asian markets as well as distribution offices in North America and Europe. It has over US$241 billion in total assets under management (as at 31 December 2019), managing funds across a range of asset classes including equities and fixed income. 

 

*Prudential plc is not affiliated in any manner with Prudential Financial, Inc. of the United States nor with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom. 

 

Prudential plc is listed on the stock exchanges of London (PRU.L), Hong Kong (2378.HK), Singapore (K6S.SG) and New York (PUK.N). 

 

For more information, please visit: www.prudentialcorporation-asia.com  

 

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