Launch Of Sagicor Healthcare Heroes

BRIDGETOWN, Barbados – Sagicor is pleased to announce the launch of the first of its Heroes Series, the Sagicor Healthcare Heroes Group Insurance Plan.

President and CEO of Sagicor Life Inc, Ravi Rambarran said, “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 health care, food, transportation, sanitation and protective services.”

He continued, “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.”

Sagicor’s plan will cover doctors, nurses, pharmacists, orderlies, administrative staff and their families. Benefits will be payable on death including accidental death, and on the diagnosis of certain critical illnesses. Level One of the Plan will pay $250,000 on death including accident and $100,000 on diagnosis of critical illness. Level 2 will pay $500,000 on death including accident $150,000 on diagnosis of critical illness and Level 3 will pay $1,000,000 on death including accident and $300,000 on diagnosis of critical illness. The cover includes 20% of complementary cover at all levels, for example, $50,000 of life and accidental benefits and $20,000 of critical illness under Level One.

The monthly premiums vary from $85 for Level One to $340 for Level Three within the English-speaking Caribbean.

Rambarran noted, “Each year, our heroes will have the right to switch to a higher level. The sole requirement to join is to be actively at work and for those over age 65, a statement of good health. Heroes with preexisting conditions cannot claim under the critical illness for those conditions but can claim for any of the other illnesses on diagnosis. Heroes will also be eligible for discounts on property and motor insurance.”

He reiterated, “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.”

Overview of Healthcare Heroes Plan

  • Sagicor is offering all healthcare workers a complimentary offer of up to $200,000 worth of Life insurance and Accidental cover, as part of a Group plan, which has three levels
  • Eligible members: Doctors, Nurses, Pharmacists, Opticians, Dentists, Orderlies, Vets, Administrative staff and their dependents. These include self employed; employed in the private and public sector; private practices; medical associations and unions and teaching institutions and any other groups that Sagicor deems to be part of the healthcare industry.
  • The prices below are monthly and start at less than the price of a bottle of water a day!
  • Individuals except their dependents should be actively at work
  • There are no medical requirements for those under 65
  • A statement of good health is required for those over 65
  • Each level provides the same payout on death including accidental death. For example, in Trinidad, at level 1, $250,000 is payable on death or accidental death
  • Each level provides a payout on the diagnosis of certain critical illnesses. For example, in Trinidad, at level 1, $100,000 on diagnosis.
  • The first 20% of coverage is complimentary but can only be accessed if Level is accepted. For example, $50,000 under Level 1 on death including accident and $20,000 under Level 1 for critical illness
  • Payouts under critical illness shall exclude a pre- existing condition at the date of enrollment
  • Members have the rights to
  • Upgrade from one level to another once a year
  • Discounts on house and/or motor insurance

Overview of Sagicor Healthcare Heroes Plan May 2020

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