TOP INNOVATION: Insurance Giant Goldstar Insurance, Launches New COVID19 GROUP LIFE Extension Cover

By DailyNewsUG Health Correspondent,  

The advent of Covid19 has dictated that humanity needs Leadership and solidarity to defeat the corona-virus. With that in hindsight, Top Insurance Giant, Goldstar Insurance in Uganda has stepped in and is holding sway with a latest innovation.

The coronavirus COVID-19 pandemic is the defining global health crisis of our time and the greatest challenge today. Since its emergence in China late last year, the Corona virus has spread to every continent as cases are rapidly rising daily in Uganda.  

While Countries are racing to slow the spread of the virus by testing and treating patients, carrying out contact tracing, limiting travel, quarantining citizens, and cancelling large gatherings such as sporting events, concerts, and schools, Uganda’s Leading Insurance Company Goldstar Insurance has rolled out a new ‘innovative’ product in form of GROUP-LIFE EXTENSION Insurance cover, a trusted Plan that Covers Groups of individuals of Companies and Organisations against COViD19 Pandemic.

Goldstar and Prudential have entered into a Partnership in which prudential shall offer cover against Natural Death to all Goldstar Workman’s Compesation and GPA Policyholders.

Group Life Extension Proposal against Covid19

  • The death benefit enshrined under the traditional workers compensation and group personal accident is only payable if death is due to accidental causes and does not include death due to natural causes including Covid19;
  • Because of the above shortcoming, Goldstar Insurance has partnered with Prudential Life to offer cover against natural death to all Goldstar and GPA Policy Holders and death due to Covod19 is hereby covered.

What is a Group Life Extension Plan?

  • Upon Goldstar Insurance request, this product is underwritten by Prudential Life to cover Goldstar Workman’s Compensation (WC) and Group Personal Accident (GPA) Policy Holders against death due to natural causes.
  • This cover is an extension of your existing WC & GPA policy with Goldstar to bridge the gap left out by this class of insurance.
  • The plan covers death from COVID19;
  • The Group Life Extension Death Benefit can be expressed either as a Multiple of an employee’s gross salary of a fixed amount.
  • Under critical illness rider, the plan shall pay 30% of the Group life death benefit should the employee contract for the first time any of these conditions: Heart attack, stroke, cancer, kidney failure, major organ transplant, paraplegia, coronary artery by-pass surgery.
Above: Crane Chambers Tower that Houses Goldstar Insurance Company Headquarters on Kampala Road, Kampala, Uganda

DailyNewsUG Correspondent asked, if one is interested in this scheme what should they do?

  • Contact Gold Star Insurance on marketing@goldstarinsurance.com
  • In your request, please include the following details:
    • Number of employees/members
    • Total Gross Monthly earnings
    • Extend of cover required i.e. 3 years’ salary, 5 years’ salary
  • Upon receipt of the request, Goldstar insurance shall provide the relevant quotation.

The pandemic is moving like a wave—and COVID-19 is much more than a health crisis. Covid19 has the potential to create devastating crises for Companies and Organisations that will leave deep scars. We are in uncharted territory, and a call is here made to Organisation and Company Owners and Executives to secure COVID19 Group Life Extension Cover for their employees and staff members.

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For more information about tailored insurance services, please visit us on www.goldstarinsurance.com

About Goldstar Insurance Company

Goldstar is one of the leading Insurance Companies in Uganda. We provide all types of General Insurance services to industrial, commercial, professional firms, Government institutions, individuals and other enterprises throughout Uganda.

Goldstar Insurance is located on Plot 38 Kampala Road, Crane Chambers, Kampala. Telephone 041 4250110. Email goldstar@goldstarinsurance.com.

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