Wednesday 27 May, 2020

Sagicor Life e-platform improves access to insurance benefits

Vice President of the Employee Benefits Division at Sagicor Life, Nicola Leo-Rhynie.

Vice President of the Employee Benefits Division at Sagicor Life, Nicola Leo-Rhynie.

Persons covered under their employer’s Group Life or Group Health plan insured by Sagicor Life Jamaica can now benefit from improved accessibility when they register for voluntary supplemental benefits using the electronic platform, MyVoluntary.

Supplemental insurance benefits are unique and affordable products that can be purchased, as an addition to the existing benefits offered through an employer, to provide added protection for persons and their family.

The online platform available on Sagicor’s website allows persons to learn more about the available products; choose from a selection of voluntary supplemental benefits and enrol for their desired coverage option. The process can be completed in a few simple steps, which includes registration, enrollment, the addition of beneficiaries and confirmation of health status.

Vice President of the Employee Benefits Division (EBD), Sagicor Life, Nicola Leo-Rhynie, shared that the MyVoluntary platform aims to improve ease of access to Sagicor’s existing clients on employers’ life and health insurance plans.

“Not only are we partnering with employers to offer a range of products that can provide the relevant additional support, but we want you to have ease of access when you decide what coverage option is best for you. You can never be too prepared for some of the things life might throw at you, but we know that with the right support, it can help you with coping better,” she said.

Among the suite of voluntary benefits is Supplemental Life, which provides an extra financial cushion for loved ones upon your passing as well as aid with expenses, such as mortgages, transfer taxes or car payments. Parental Life, meanwhile, is designed to assist with the cost of the funeral and other related expenses after the passing of parents, which includes step-parents and parents-in-law.

Other voluntary benefits are Dependent Life, which allows the purchase of life insurance coverage for dependents, such as spouse and unmarried children; the Critical Illness plan, which pays a lump sum upon diagnosis of a heart attack, stroke, life-threatening cancer, paralysis, major burns, loss of speech, deafness, coma, blindness, multiple sclerosis and traumatic head injury; and Supplemental Health, which provides coverage to enhance existing health insurance package.

Persons can also purchase Accidental Death and Dismemberment Insurance as a voluntary benefit.

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