La Capitale Insurance and Financial Services has announced that it will reduce group insurance dental care premiums by 60%, to help relieve some of the financial burden SMEs and employees are experiencing due to the COVID-19 crisis.
The insurer earlier this month offered its private and commercial auto insurance customers rebates on a part of their insurance premiums. The rebate is equal to 20% of a customer’s monthly auto premium.
Now a release outlined that the dental care premium reduction will help some 3,000 SMEs and their 70,000 employees and their families with easing their financial burdens, while maintaining their insurance coverage.
“A fundamental principle of insurance is that the premiums should reflect the risk. The confinement measures ordered by the authorities and the limits on certain services are resulting in fewer dental care claims,” said La Capitale chairman of the board and CEO Jean St-Gelais.
St-Gelais added that the dental care premium reduction will apply for the months of May and June.
La Capitale’s reduction is similar to other financial relief measures recently implemented by other group benefit insurers, which also chose to cut down on dental care premiums. These insurers include Sun Life, Manulife, and Canada Life.
