Job loss insurance cover targets employees

APA Insurance has unveiled a a product to cover employees against job loss, hospitalisation or death. Linda Salo, developed in partnership with Citadel Micro Insurance, is designed to cushion workers and their dependants from sudden job losses.

Policy holders will pay premiums as low as Ksh820 per year or around Ksh70 per month.  In the event of job loss, the employee will be compensated up to Ksh150,000 for three months.  In case of illness, the insured will receive up to Ksh20,000 as income supplement.  Upon loss of life, the next of kin will receive up to Ksh100,000.

“We are keen to rewrite the rules of insurance in the region,” said Mr Michael Oduor, the Chief Executive Officer of APA Insurance. Linda Salo targets unionised employees, Jua Kali sector and Sacco members, individuals or groups of employees aged up to 70 years.