ST. MICHAEL, Barbados and TORONTO, March 25, 2020 /CNW/ - In response to the challenges being faced by its clients across the region due to the continued spread of the COVID-19 virus, Sagicor has instituted two key additional measures for pensioners and mortgage holders. Firstly, the early payment of pension to pensioners to ensure they have the financial capability to meet their current needs; and secondly, the deferral of payments on both residential and commercial mortgages to existing and new clients. These measures will remain in place until June 30, 2020 in the first instance as Sagicor continues to respond to rapidly evolving conditions.
Sagicor reinforced its previous commitment that all COVID-19 related claims under health and life insurance policies shall be honored. In addition, clients shall have the option to claim three months of prescription drugs under Sagicor's health policies. The company also reiterated that no life insurance policy will be terminated within the next 90 days and encourage clients to contact their financial advisor.
President & Chief Executive Officer of Sagicor Life Inc, Ravi Rambarran said "We recognize that the circumstances of each client vary and so we encourage our clients to reach out to their Sagicor representative as we remain committed to providing financial advice and support. Owning a pension, an insurance policy, a home and a business are significant investments borne by long term sacrifice, and we want our pensioners, policy holders, home owners and business owners to know that we are with you and together we will overcome this threat to our beloved families, communities and countries."
These measures are in addition to Sagicor's recent commitment and donation of US$1Million to support COVID-19 containment and treatment efforts in the communities in which it operates.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider in the Caribbean, with almost 180 years of history, and has a growing presence as a provider of life insurance products in the United States, with over US $1.4 billion in total annual premiums. Sagicor has over 4500 employees and offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, and real estate. Sagicor's registered office is located at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St. Michael, Barbados. Additional information about Sagicor can be obtained by visiting sagicor.com
SOURCE Sagicor Financial Company Ltd.
For further information: Ingrid Card, Vice President - Group Marketing, Communications & Brand Experience, Office - 246.467.7500, Cell - 246.230.5315, Email - [email protected], Sagicor Financial Corporation, Wildey, St. Michael, Barbados