AIMED at easing the financial burden associated with cancer diagnosis and treatment, the Pan American Life Insurance Company of Trinidad and Tobago has launched its groundbreaking "cancer care cover," a specialised financial safety blanket.
A media release said the launch took place on January 23, at Pan-American Life Plaza on St Vincent Street, Port of Spain.
The release said cancer remains the second leading cause of death in the Caribbean, presenting not only a health challenge but also a significant financial burden for those affected.
"Recognising the pressing need for a dedicated solution, Pan-American Life has developed a product tailored to provide unparalleled support during the challenging journey of cancer recovery," it said.
Key benefits of the plan include a lump sum payment upon diagnosis, loss of income support, chemotherapy, brachytherapy and radiation, along with multiple medical costs and prescription drug benefits.
Robert Dicianni, president of Global Benefits and Bruce Parker, president of Global Life Insurance for Pan-American Life Insurance Group, gave a celebratory handover to the first policyholder of the cancer care cover policy, symbolising a commitment to supporting individuals on their cancer recovery journey.
When asked why this policy was chosen, the policyholder responded: "The answer is simple. In the event that I am diagnosed with cancer, I have the peace of mind knowing that I will have the funds to pay my medical expenses and that my family will not be saddled with this burden. The plan is so very affordable, but what it can do for me and my family, is priceless."
This latest policy marks a significant milestone in the insurance industry, reaffirming the company's commitment to addressing the evolving healthcare needs of the Caribbean community.
"As the only financial safety blanket dedicated to cancer recovery, the product stands as a testament to Pan-American Life's proactive approach to ensuring the well-being and peace of mind of its policyholders," the release said.