Local insurance data show that more Jamaicans are purchasing critical illness policies.
The Insurance Association of Jamaica says in 2017, 25 per cent of the 101,617 new policies sold were critical illness policies as persons protected themselves against the increase in Non-Communicable Diseases.
The Life Insurance Industry paid out $21 billion in Individual Life benefits, of which $12.7 billion s comprised death benefits while $649.4 million was paid out for Critical Illness claims.
According to the IAJ, the industry also paid out $18 billion s in Medical Claims in 2017, a third of which represented payments for prescription drugs.
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