Dear Member,
Please be advised that the renewal date for the LATT Group Health Plan with Sagicor is the 1st April, 2020. A copy of the Renewal Offer dated March 19, 2020 from Sagicor is attached for your attention.
Members are advised that due to the high loss ratio with the Group Health Plan, a 20% increase in the annual premium was consequently being proposed by Sagicor. However, LATT’s Insurance Broker – Genesis Insurance Brokers and Benefits Consultants Limited (“Genesis”) negotiated with Sagicor for an alternative option to the 20% increase in premium.
Arising out of those negotiations, instead of the 20% increase in health premiums for ALL members, Genesis was able to successfully negotiate as follows,:
- Premiums will remain unchanged for ALL members of the Group Health Plan with the existing Schedules of Benefits
- All Active members up to age 60 will however be required to take the ‘Life Suite option’ as outlined below:
LIFE SUITE Insurance Coverage TTD
| Coverage | Monthly cost | |
| Life | $100,000 | $ 32.00 |
| Accidental Death & Dismemberment | $100,000 | $ 8.00 |
| Critical Illness | $50,000 | $ 30.00 |
| TOTAL COST | $ 70.00 |
The net effect is that, instead of a 20% increase across the board, Active Members ONLY (up to age 60), will pay a $70.00 monthly premium for the Life, Accidental Death & Dismemberment and Critical Illness coverage in the table above. For the avoidance of doubt the existing premium remains unchanged for persons 61 years and over.No medical underwriting will be required.
Details of this additional coverage is found at page 8 “OPTION 2” of the attached Renewal Offer and the proposal attached – Life, Accident Death & Dismemberment and Critical Illness.
Premiums payable for the OPTION 2 renewal are:
Account 1 – Actives
Account 2 – Retirees
Genesis Insurance Brokers & Benefits Consultants LimitedIn order to renew your coverage you are therefore required to contact Genesis at:
Corner Henry Pierre Street and
Mucurapo Road
St. James, Trinidad
| Contact | Office | ||
| Mr. Imran Daniel Senior Business Development Associate | latt@genesistt.com | 235-5346 | 375-6910 |
| Mr. Kurt Richardson Business Development Officer | latt@genesistt.com | 235-5346 | 397-4301 |
| Mr. Shawn Mitchel Clinical Co-ordinator | latt@genesistt.com | 235-5346 | 375-0184 |
New Members wishing to now join the plan may also contact Genesis as provided above.
Any questions and/or concerns that you may have please feel absolutely free to contact Genesis as provided above.
Sincerely,
Shankar Bidaisee
Secretary
