Frontline cover

Healthcare workers in Barbados and across the region are set to benefit from Sagicor’s Healthcare Heroes Group Insurance Plan.

The life insurance plan was launched today to coincide with International Nurses’ Day, and was announced by president and chief executive officer (CEO) of Sagicor Life Inc. Ravi Rambarran during a virtual press conference.

The three-tiered plan will cater specifically to medical professionals including doctors, nurses, pharmacists, orderlies, dentists, administrative staff and their families.

While describing those health care workers working during the COVID-19 pandemic as “super heroes”, Rambarran said additional plans would be rolled out for other frontline workers.

Level 1 of the plan will pay $250,000 on death including accidental death and $100,000 on diagnosis of a critical illness. Level 2 will pay $500,000 on death and $150,000 on diagnosis of critical illness while Level 3 will pay $1 million on death and $300, 000 on diagnosis of critical illness. It includes 20 per cent of complementary cover at all levels.

The monthly premium range from $95 to $340 per month.

Those critical illnesses covered by the plan are cancer, heart attacks, strokes, coronary artery bypass, multiple sclerosis, deafness, kidney failure, organ transfer, paralysis and blindness.

“The COVID-19 virus has reinforced how dependent we are on each other. We recognize that heroes don’t just exist in movies but live with us. Our heroes are on the frontline and include those in the healthcare, food, transportation, sanitation and protective services,” Rambarran noted.

“We believe that consistent with our vision of improving the lives of the community in which we operate, it is our duty to recognize our heroes… Our heroes are our people. We are one and we are honoured to serve them as they serve us. They have sacrificed to keep our communities safe and we are honoured to be here for them.”

He explained that the sole requirement to join is to be actively at work and for those over age 65, a statement of good health. Rambarran, however, explained that persons with pre-existing conditions would not be able to claim under the critical illness for those conditions but can claim for any of the other illnesses on diagnosis.

The CEO said health care workers in the Caribbean were underinsured.

“We expect a significant takeoff simply because our analysis has shown that the Caribbean is significantly underinsured and significantly under pensioned. At a time like this there are many competing demands on our various Governments who are in their own way trying to assist.

“So what we are saying is that we are all in this together and so as a private sector entity we are saying that we also have to be part of the solution,” Rambarran said.
randybennett@barbadostoday.bb