New life, health insurance plan for seniors launched
SAGICOR Life Jamaica and CGM Gallagher Insurance Brokers have collaborated to roll out an expanded comprehensive life and health insurance plan for members of the Caribbean Community of Retired Persons (CCRP).
The plan was launched yesterday in a ceremony at Police Officers' Club in St Andrew, with the commencement of an open enrollment period which runs until November 30, allowing all members aged 50 and over to sign up without the requirement of medical evidence.
Health benefits under the plan, which is underwritten by Sagicor Life and managed by CGM Gallagher, will include coverage for doctor's visits, prescription drugs, in-hospital expenses, surgical benefits, consultant fees, lab and diagnostic fees. Dental and optical coverage, as well as a major medical component. Monthly premiums start at $6,399.40.
CCRP members are also offered life insurance coverage of $500,000 per person at a monthly premium of $2,460.
Willard Brown, executive vice-president Employee Benefits Division, Sagicor Life, in his remarks at the launch, said the plan reflects a commitment by Sagicor Life to improve insurance coverage across all age groups and sectors.
“We are proud to be partnering with the CCRP, which has been such a unifying force for retirees and a meaningful voice of advocacy for its members. It is because of the value we place on this community that we believe the expansion of this plan is such an important step for us, as we want to ensure that we provide options that allow our seniors to remain in control of their lives and well-being and live with a sense of pride,” he said.
CCRP is a non-profit organisation for people 50 and over, with a mandate to provide engagement and advocacy for retirees.