Firm offers lump-sum hospitalization benefit to individual insureds and their relatives
Quebec-based La Capitale Insurance and Financial Services has announced that it is offering free COVID-19 hospitalization coverage for critical illness insurance policyholders and their loved ones.
“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 hospitalized,” said Jean St-Gelais, Chairman of the Board and CEO of the firm.
The free coverage is being offered to clients with individual critical illness insurance, not those who acquired CI insurance through their employer.
Under the complementary coverage, the insured, their spouse, and children under age 18 who reside at the same address as the insured are entitled to a lump-sum amount of $2,000 for hospitalization expenses related to the novel coronavirus.
The benefit is being automatically added to individual CI insurance contracts currently in effect. La Capitale clients who have individual CI coverage do not need to contact the company to avail of the free coverage, which will be available until July 31, 2020.
La Capitale’s complimentary coverage for individual CI policyholders comes as other carriers provide support through reduced premiums on certain group benefits and provide access to free mental-health services.
“Our mission as a mutual company has always been to value and protect what our members hold most dear,” St-Gelais said. “This measure affects thousands of families in all provinces across Canada.”