Sagicor Bank Jamaica (SBJ) credit card clients can now access health and life insurance coverage through a partnership with Sagicor Life.
The Care Shield plan provides financial assistance in the event of hospitalisation, a critical illness diagnosis or untimely death of cardholder and is the only credit card insurance plan of its kind locally.
“Sagicor Bank continues to create affordable and innovative ways of ensuring our clients are supported through different life stages,” said Sabrina Cooper, Vice President, Cards & Payments, Sagicor Bank Jamaica. “Healthcare is very important, and with costs rising, partnering with Sagicor Life to create this affordable product was another way for us to solidify that we are always in our client’s corner,” Cooper said.
Cooper also asserted that this newest offer from Sagicor Life, being solely for Sagicor Bank credit card holders and their family/dependents also provides an added level of trust and security that clients have come to expect from Sagicor Group.
“The collaboration between Sagicor Bank and Sagicor Life means that clients can expect the usual client-first experience we always deliver,” she continued.
Monthly premium rates for critical illness and life insurance start as low as $266 and $328 per month with maximum coverage of $2 million. Hospitalization benefits start at a minimum of $50,000 per day for 10 days with a premium monthly payment of $2,322. Payments are accepted online with Sagicor Bank credit cards through the Group’s online payment portal Sagicor Connect.
Nicola Leo-Rhynie, Vice President, Employee Benefits Marketing, Sagicor Life, asserted that collaborating with Sagicor Bank to create customized products such as Care Shield is about putting clients’ needs first.
“This partnership allows us to offer value-added benefits to the Bank’s customers and expand the reach of affordable insurance coverage in the market. With Care Shield, Sagicor Bank credit card holders and their families can easily access and apply for insurance coverage through a fully digitized process,” shared Leo-Rhynie.
During the open enrollment period, which ends on August 31, no medical evidence will be required, and all existing cardholders will be accepted once they meet the criteria.