Sagicor Life pleased with uptake of Insurance for Children
Sagicor Life says it is pleased with the number of parents who have enrolled their school-aged children in its school companion health insurance plan.
Sagicor reported that the policy, which was launched last year, has had a significantly positive uptake, with over 8000 applications received during an enrollment period last year. With yearly premiums starting at $5,810, the school companion plan provides medical expense coverage for students up to age 21.
Nicola Leo-Rhynie, vice-president of the Employee Benefits Division at Sagicor Life, said that the large take-up of the plan is significant as it highlights the need for meaningful insurance coverage for an age cohort of the population that has been traditionally underserved.
“Of the enrollees, 20 per cent were under the age of six, 42 per cent were between six and 12 years old, and 38 per cent between 13 and 21 years old,” she shared in a release from the company this week.
“As a solutions-oriented company and the market leader in the insurance industry, we are always innovating to serve the needs of our clients and the public, and the School Companion plan was developed to provide affordable health insurance coverage to the most vulnerable, our children, who have not had this type of coverage before”, she said in noting the great demand for a product of this nature.
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Adding that, “this kind of health insurance plan that provides our children with comparable levels of health insurance protection like adults is even more important now than ever as the world grapples with the COVID-19 global health crisis.”
Interested individuals are asked to enroll for the Student Companion plan which remains open up until November 30. The plan is one of several new products being offered for children by Sagicor Life, having also recently launched the Child Protector plan— a critical illness insurance plan for children
“Benefits of the School Companion plan include in-hospital services, prescription drugs, outpatient care, specialised consultation, diagnostic services, and dental and optical benefits. Each student who is enrolled will be provided with a swipe card to access health services,” the release said.
“Sagicor Bank also recently launched its star savers account, which encourages children up to age 18 years to save towards educational goals,” it also stated.