RemitCare, an innovation in remittance protection, is an accident insurance product that provides remittance payments to a receiver for 2 months in the event that the sender sustains any accidental bodily injuries caused directly and immediately by an accident which leads to either disability (permanent or temporary) or death as a result of the accident.
“RemitCare… seeks to meet the needs of our GraceKennedy Money Service (GKMS) customers, who want to protect their remittance cash flows from being temporarily discontinued should an unforeseen circumstance arise” Jordan Tait, Manager of Innovation and Risk at GK Insurance stated. He also said that RemitCare is the first of it’s kind, anywhere in the world.
Group CEO of Grace Kennedy Limited, Senator Don Wehby underscored the thought process that goes into conceptualizing products/services that are tailored to the needs of their customers as it is well known that remittances from Jamaicans in the diaspora play a major role in the growth of our economy. Senator Wehby shared that the remittance market accounts for about 2 Billion USD or about 16% of the Jamaica’s GDP, and therefore RemitCare offers useful and practical protection for families who benefit from remittances. RemitCare policies are therefore available to receivers of remittances in Jamaica and senders from anywhere in the world.
To purchase RemitCare, a customer can go to any of the six Pilot locations (GKMS Pavillion Mall, Barbados Avenue, King Street, Church Street, Montego Bay, Port Maria and Portmore) to request an application form that can be filled out on spot. When making the purchase however, the GraceKennedy Money Services customer will choose the best plan that is aligned to their usual remittance flow.
For remittances under US$200 – for just J$250 per month a customer will get J$30,000 in coverage for 2 months. If the remittance is up to US$500, a payment of J$450 per month will result in the customer getting J$65,000 in coverage for 2 months. And for remittances over USD$500, policy owners would pay J$600 per month and the customer will get J$100,000 in coverage for two (2) months. Policies can only be purchased in Jamaica.
- end -
For More Information, contact:
Rachel McKenley, Senior Marketing Officer,
GK Insurance 19-21 Knutsford Boulevard
(876) 935 - 0471 | (876) 442 - 4653
Vinette Rowe Marketing Manager,
GK Money Services 2-6 Trafford Place, Kingston 5