Pan-American Launches New Critical Illness Insurance Product in Barbados

BRIDGETOWN, Barbados, May 22 -- Pan-American Life Insurance Group, a provider of insurance and financial services, issued the following news release:

Pan-American International Insurance Corporation (PAIIC) a member of Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, recently announced the launch of its first critical illness product in Barbados.

Pan-American Critical Illness Cover offers valuable financial assistance to individuals and families confronted with serious illnesses.

PAIIC's Critical Illness Cover product pays a lump sum benefit when an insured is diagnosed with one (1) of twenty (20) serious illnesses or conditions, including cancer, stroke, heart attack, renal failure and multiple sclerosis. Organ transplant, traumatic brain injury, Alzheimer's Disease and Parkinson's Disease are also covered, along with a number of life-changing health conditions.

"The diagnosis of a critical illness is absolutely devastating to people and their families," says Paul Inniss, PAIIC's General Manager for Barbados. "This product helps ease both the emotional and financial stress it brings, enabling clients to focus on their health and recovery."

The plan offers a number of advantages to insureds. For one thing, the lump sum payment can be used to finance medical or long-term care costs, and there is no co-payment to be met. Furthermore, premium rates are not only competitive, but are guaranteed for five (5) years from the date of issue.

In addition, this is the only known critical illness policy that extends coverage to children, through the addition of an optional Child Rider. Coverage is available to children between the ages of 5-17, allowing parents to pursue treatments that might otherwise be beyond their financial means.

"Critical Illness Cover is an easy, affordable way to plan against the unknown. Pan-American is proud to offer health insurance protection that will help people when they need it the most," says Inniss, noting that, according to the World Health Organization, heart disease and stroke have been the leading causes of death for the last 15 years.

To learn more about Pan-American Critical Illness Cover, visit the Pan-American International Insurance Corporation Building in Cheapside, Bridgetown, or contact one of our agents at 537-1200.