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BSP Health Launches New Medical Product

BSP Health, a subsidiary of BSP Life, and a market leader in private health insurance, launched a new product, Value Health Care. Managing director, Michael Nacola said insurance coverage in
01 Sep 2021 11:00
BSP Health Launches New Medical Product
Managing Director of BSP Life & Health, Michael Nacola.

BSP Health, a subsidiary of BSP Life, and a market leader in private health insurance, launched a new product, Value Health Care.

Managing director, Michael Nacola said insurance coverage in Fiji was still low, which reinforced the need for continued innovation in products and services.

“We are confident that the attractive features of this product will allow more Fijians who currently do not have medical insurance to consider getting covered,” he said.

 

Value Health Care offers:
– Direct access to a private medical facility like Oceania Hospitals in Suva, or Zen’s Medical Centre in Nadi, amongst others, for specialist care and treatment.

Costs related to consultations, tests and admission is covered.

 

– Overseas evacuation if treatment is not available in Fiji. Cost of visas, airfares, an accompanying person (if medically necessary), transport, tests, treatment, pharmaceutical drugs, accommodation and a daily allowance, are covered.

All conditions (except for standard exclusions in the Policy Terms and Conditions), including cancer, and recurring treatment costs, are covered to the full policy limit, without extra contributions from customers.

 

Vulnerable
“Treatments for severe conditions like complex heart surgeries, or cancer, at an overseas medical facility, can go up to $300,000,” Mr Nacola said.

“Without medical insurance, individuals and families are extremely vulnerable.”

“Investing in a policy provides security in the event of unexpected serious ailments. Value Health Care individual premiums range from $300 to $800 per annum, or $6 to $16 a week, depending on your age.”

BSP Health’s claims trends highlight that the age bracket 40-44 years is now the highest claiming bracket for medical treatment, with growing numbers of deaths in the 45-54 range.

From January to July this year, BSP Health paid $6 million for medical treatments.

Around 96 per cent of claims received were approved with only four per cent declined as they were outside policy terms.

Customers continue to be evacuated to Australia and New Zealand for life saving treatment, including those who have the India option, and need emergency treatment but unable to travel there due to border closures.
Feedback: maraia.vula@fijisun.com.fj



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