The Insurance Association of Jamaica (IAJ) says the majority of death claims in the industry are now coming from critical illnesses such as cancers, cardiovascular disease and diabetes, which has triggered a change in life insurance habits over the past three years.

Vice-president of the association, Vernon James says 25 per cent of new policies bought are for critical illnesses, which provide protection against these ailments.

“These conditions can now be managed with the advances in medical science and health care but require resources as the treatments such as chemotherapy — and radiation is expensive,” he pointed out at a recent health seminar held for underwriters and claims administrators, at Terra Nova All-Suite Hotel in Kingston.

The forum is held every two years to bring industry professionals up to date with developments in health and medicine in the island.

He said the country must take insurance more seriously as death, disability and illness can significantly impair the financial resources of even the wealthy, and drive those in lower income categories into poverty.

“Get insurance protection before it is too late. Early detection against these NCDs (non-communicable diseases) are the best defence, and as the Ministry of Health has been preaching we should all seek to know our vital health statistics before we run into the danger zone,” he cautioned.

Last year the industry paid out $20 billion in group health benefits, but only 20 per cent of Jamaicans have health insurance, more than half of whom are public sector workers.

According to health authorities, the prevalence of NCDs is placing an economic burden on the country, with data suggesting that it will cost the country approximately $77 billion over the next 13 to 15 years to address the treatment and loss of productivity associated with diabetes and cardiovascular diseases.

Health Minister Dr Christopher Tufton recently told the Jamaica Observer that of the approximately 18,000 deaths in the island per year, close to 70 per cent are those who suffered from lifestyle-related illnesses of NCDs. He said more than 6,000 Jamaicans die from cardiovascular diseases each year, and more than 4,000 from cancer.

James says the industry will work with government to ensure the success of the National Health Insurance Plan (NHIP).

“The industry has built a lot expertise over the years which will prove useful. We continue to support the well-being of Jamaica land. Our two major life companies have shown through corporate social responsibility what partnerships can do. They have partnered with the public and private corporations to raise large sums of money which have gone primarily to the health sector,” he pointed out.

The health minister recently tabled a Green Paper on the NHIP for Jamaica which the Government says forms an important part of its response to the reluctance of some 32 per cent of Jamaicans to seek health care due to financial constraints. The proposed NHIP is aimed at providing appropriate levels of access, coverage, and financial protection to the population.

Meanwhile, James also commended the Government for its addition of the Wellness brand to the ministry, noting that it represents a real repositioning strategy.

“We all were told that ‘an ounce of prevention is better that a pound of cure’ — the Jamaica Moves Campaign and recent initiatives to reduce sugar intake are commendable,” he said.

At the same time, he said the IAJ wanted to see further advancements in the public health infrastructure, and a robust maintenance programme.