The North American Life Insurance Company Ltd (NALICO) on Friday launched two, of its seven, new insurance policies:-Financial Protector 20 and 30 years, Cash Back, term plans respectively, at the Regency Hotel, Georgetown.
In his address to the audience, guest speaker Dr. Ashni Singh stressed the important nexus between securing financial loans and insurance.
Singh also pointed out that in a world where many have lost faith in the insurance sector, alluding to the failure of CLICO, it is commendable to see that Guyanese insurance companies like NALICO not compromise standards and still be able to thrive financially. He charged other insurance companies to seek out additional opportunities to ensure that all Guyanese may be able to afford proper insurance.
The focal point of the launch however seemed to be everyone’s surprise that for only $566 Guyanese can acquire policies for up to one million dollars with persons under the age of 45, applying for life insurance for the first time, not being required to undergo a medical examination.
NALICO plans to, before the end of 2011, launch five additional products ranging from life medical and educational plans to meet the growing demand for insurance by citizens.