Sagicor offers health and life insurance coverage to credit card customers
Sagicor Bank Jamaica (SBJ) credit card customers 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 hospitalization, diagnosis of critical illness or premature death of the cardholder and is the only credit card insurance plan of its type locally.
“Sagicor Bank continues to create affordable and innovative ways to ensure our customers are supported at different stages of life,” said Sabrina Cooper, Vice President, Cards and Payments, Sagicor Bank Jamaica. “Healthcare is very important, and with rising costs, partnering with Sagicor Life to create this affordable product was another way for us to confirm that we are still in our customers’ corner,” Cooper said. .
Cooper also asserted that this new offering from Sagicor Life, intended only for Sagicor Bank credit cardholders and their family/dependents, also provides an additional level of confidence and security that customers have come to expect from the Sagicor Group.
“The collaboration between Sagicor Bank and Sagicor Life means that customers can expect the usual customer experience that we always provide,” she continued.
Monthly premium rates for critical illness insurance 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 monthly premium payment of $2,322. Payments are accepted online with Sagicor Bank credit cards through the Sagicor Connect Group online payment portal.
Nicola Leo-Rhynie, Vice President, Benefits Marketing, Sagicor Life, said working with Sagicor Bank to create personalized products like Care Shield is about putting customer needs first.
“This partnership allows us to provide value-added benefits to Bank customers and expand the reach of affordable insurance coverage in the market. With Care Shield, Sagicor Bank credit cardholders and their families can easily access and apply for insurance coverage through a fully digitized process,” said Leo-Rhynie.
During the open enrollment period, which ends August 31, no medical evidence will be required and all existing cardholders will be accepted once they meet the criteria.