Almost overnight the world was thrown into chaos and uncertainty as a result of the COVID-19 pandemic, which significantly threatened the safety of every individual,
in addition to the financial stability of families and the viability of businesses.
As part of its ongoing efforts to provide affected individuals with relief and support to help them navigate these challenging times, Sagicor has yet again come to the rescue with another life-changing financial solution.
The company has introduced the Sagicor Life Changer, featuring benefits available under the Sagicor Life Solutions II product suite, which was developed to give individuals the financial flexibility they need today, whilst helping to prepare them for the challenges of tomorrow.
The solution offers a combination of life insurance coverage and a savings component, with an attractive interest return, along with the ability to access critical illness coverage.
Thanks to a well-designed package, individuals with existing life insurance policies managed by other providers who decide to choose Sagicor, will have the opportunity to access much needed cash from their existing policies, without having to surrender the coverage they have built up over the years.
These individuals will benefit from the ability to withdraw cash from the accumulated cash value of their policy, which is critical at this time for those who may have suffered a reduction in income, or are currently faced with business expenses that have become difficult to meet given the current economic environment.
Speaking on the launch of the solution, Executive Vice President and General Manager of Sagicor Life Inc, Paul Inniss, stated that “the COVID-19 pandemic drastically affected the lives of us all, but some have been impacted more severely than others.
Household incomes have been hit hard in many instances, with significant pressure being placed on families to meet their financial obligations.”
“A number of persons have therefore been seeking out ways to liquidate some of their assets to improve their cash position and ability to manage expenses such as mortgage payments, rent, vehicle and other loans, among others. The Sagicor Life Changer provides them with that facility”, he said.
“Apart from being able to access cash quickly without losing their insurance coverage, potential clients will also benefit from reduced premiums due to the competitive pricing of the solution, in addition to earning an attractive rate of return when compared to existing market rates.
Those in need of this life changer will be happy to know that they can access the flexibility of the solution sooner rather than later, as there are no medical underwriting requirements to cause a delay in the process. Potential clients must simply satisfy Sagicor’s basic underwriting requirements. (PR)