Saturday 24 October, 2020

Sagicor Life improves insurance access for school-aged children

Nicola Leo-Rhynie, Vice President, Employee Benefits Division, Sagicor Life Jamaica.

Nicola Leo-Rhynie, Vice President, Employee Benefits Division, Sagicor Life Jamaica.

Sagicor Life Jamaica is renewing its invitation for parents to enrol their school-aged children in its School Companion health insurance plan. 

The plan which was launched in 2019 has had a significantly positive uptake, as thousands of parents have signed up their children for the policy.

The School Companion plan, which provides medical expense coverage for students up to age 21, with yearly premiums starting at $5,810, received some 8,000 applications during the enrolment period last year.

Nicola Leo-Rhynie, Vice President, Employee Benefits Division, Sagicor Life Jamaica, said the large take-up of the Plan is significant as it highlights the need for meaningful insurance coverage for this age cohort, who have traditionally been an underserved section of the population. 

She said 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.

Leo-Rhynie further noted that the keen interest and high uptake for the plan shows that there was a great demand for a product of this nature.

“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.

Leo-Rhynie added, “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.”

The enrolment period for Sagicor Life’s School Companion Plan is open until November 30, 2020.

Benefits of the School Companion Plan include in-hospital services, prescription drugs, out-patient care, specialized consultation, diagnostic services, and dental and optical benefits. Each student who is enrolled will be provided with a swipe card to access health services.

Persons may apply online at sagicorschoolcompanion.com or complete the enrolment form, which can be collected from any Sagicor Life location or requested from Sagicor Life financial advisors. Forms should be submitted to a Sagicor Life branch, along with proof of payment. Payment can be made at any Sagicor Life or Paymaster locations.

The School Companion Plan is one of several new products for children offered by Sagicor, having recently launched the Child Protector Plan, a critical illness insurance plan for children.

Sagicor Bank Jamaica also recently launched its Star Savers account, which encourages children up to age 18 years to save towards educational goals.

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