Sagicor announces deferral of payments on mortgages
Sagicor has instituted two additional measures for pensioners and mortgage holders, in light of the challenges faced by its clients across the region due to the continued spread of the COVID-19 virus.
In a statement, Sagicor explained that this would involve 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 honoured.
Clients will also 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 encouraged clients to contact their financial advisor.
President & Chief Executive Officer of Sagicor Life Inc, Ravi Rambarran said: “We recognise 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, policyholders, 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$1 million to support COVID-19 containment and treatment efforts in the communities in which it operates.