The insurance sector is beginning to pay benefits to healthcare workers fighting against COVID-19

The policy includes 30,000 euros of capital due to death and up to 1,400 euros due to hospitalisation

Unespa COVID Protection Fund

109 insurance companies have contributed 38 million euros to finance this protection for half a year. The money not spent will be used to investigate the disease. DKV has contributed 500,000 euros. 

Insurance is beginning to pay out benefits to healthcare professionals who have been hospitalised and to the relatives of those who have died after contracting coronavirus. On 7 April, UNESPA announced the commitment of more than one hundred insurers to set up a s38-million-euro solidarity fund to protect healthcare professionals and those from nursing homes on the front line in the fight against COVID-19 in Spain. This sector-based initiative seeks to recognise the extraordinary work carried out and personal effort made by these professionals during the pandemic. 

The contributions of the insurers have allowed UNESPA to take out a free life insurance policy, on behalf of and representing 109 companies, that will cover the death of those protecting the health of all citizens affected by coronavirus, and provide an allowance for professionals who are hospitalised. The insured capital in the event of death directly caused by COVID-19 amounts to 30,000 euros per person, which will be received by the beneficiaries. Meanwhile, the hospitalisation allowance will involve the payment of 100 euros a day to professionals admitted, provided that their hospital stay exceeds three days and up to a maximum of two weeks. In other words, payments will range from 400 to 1,400 euros per person. 

The protection is valid for six months, starting from the start of the state of emergency. In other words, all the people in the insured collective who are hospitalised or who die directly from coronavirus from 14 March until 13 September 2020, both days included, will be covered. Cover is, therefore, retroactive. 

The profiles of the healthcare professionals that have this free protection are set out in the annex to this press release. The documentation that must be provided and the means of contact for sending it are set out on the website: https://www.unespa.es/en/what-we-do/coronavirus/

According to the estimates made, the life insurance and the hospitalisation allowance provides cover through this instrument to over 700,000 people nationwide. The insurance industry has established the largest joint policy of this type ever taken out in Spain's history to support those who are on the front line in the fight against COVID-19. 

In the event the accident rate is lower than the established fund, the surplus amount will be used to support research on coronavirus.