Cigna Corp. and New York Life Insurance Co. started a charitable fund of $50 million for the bereaved families of health-care workers and volunteers who lose their lives to the coronavirus.

New York Life will also match an additional $25 million in individual donations to the Brave of Heart Fund, which could grow larger than $100 million through individual and corporate contributions, the companies said in a statement. Cigna will offer behavioral and emotional health support to families of medical workers.

“The brave health-care workers in our communities have families who need our help,” New York Life Chief Executive Officer Ted Mathas and Cigna CEO David Cordani said in a statement. “Our shared goal is simple: to ensure that every family who has a nurse, technician, orderly, cafeteria worker, custodian, doctor or other front-line health-care worker or volunteer who lose their lives supporting the battle against Covid-19 has a safety net to rely on.”

The fund will provide financial assistance to cover immediate needs such as housing, food, transportation, education and medical care, as well as services for emotional and behavioral health.

To contact the reporter on this story:
Lananh Nguyen in New York at lnguyen35@bloomberg.net

To contact the editors responsible for this story:
Michael J. Moore at mmoore55@bloomberg.net

Dan Reichl, David Scheer