BSP Health launches new insurance product

BSP Health has launched a new insurance product called Value Health Care that will assist people get access to affordable, tailor-made insurance products, designed specifically for local needs.

Managing Director, Michael Nacola says the COVID-19 pandemic has heightened both the awareness and the need for medical insurance.

He says a recent survey by the Reserve Bank of Fiji indicates that insurance coverage in Fiji is still low, which reinforces the need for continued innovation in products and services.

Nacola says treatments for severe conditions like complex heart surgeries, or cancer, at an overseas medical facility, can go up to $300,000 and without medical insurance, individuals and families are extremely vulnerable, so investing in a policy provides security in the event of unexpected serious ailments.

Nacola adds Value Health Care individual premiums range from $300 to $800 per annum, or $6 to $16 a week, depending on the age.

The Managing Director has also highlighted that BSP Health has paid $6 million for medical treatments from January to July this year.