'Buhuman' health insurance policy relaunched

The Government Pensions Department together with ColomboRe Insurance Brokers and relaunched 'Buhuman' - a unique health insurance policy, recently.

Introduced to the market in 2014, this policy was previously designed and developed by ColomboRe Insurance Brokers. Subsequently modifications to the product were made with the assistance of Fairfirst Insurance.

'Buhuman' which means respect, is a health insurance scheme well known to state pensioners. The product was re-designed with added benefits specifically aligned with the evolving insurance needs of pensioners. Increasing the insurer age limit for the personal accident cover up to 90 years and the addition of a coverage for expenses incurred on drugs purchased, tests, scans and X-rays are a few of the added benefits.

Existing benefits offered under 'Buhuman' include personal accident cover, hospitalization cover and critical illnesses cover. The policy is available under three insurance plans ranging from Rs. 125,000 to Rs. 500,000. Pensioners can choose from one of the three plans depending on their financial capabilities and the affordable monthly premiums offered ranging from Rs. 200 to Rs. 400. The signing of the Memorandum of Understanding took place at the Pensions Department in presence of Jagath Dias, Director General of the Department of Pensions, Dr. Sanjeev Jha, Managing Director and CEO of Fairfirst Insurance and Roshini Silva, General Manager of ColomboRe Insurance Brokers along with several other officials from the three parties. According to Jha, there is a strong need for insurance products to assist senior citizens of the country. “This is an important line of insurance for us and another step towards continuing to address the growing needs of the Sri Lankan insurance market”.

Roshini Poshitha said, “Having identified a need in the society, 'Buhuman' was redesigned specifically to provide the perfect solution to the need of the senior citizens. The Director General of the Pensions Department Jagath Dias said “We are happy to be partnering with Fairfirst Insurance for this upgraded beneficial scheme offered to pensioners."

"With the rate of senior citizens in the country on the rise, it’s imperative that we do whatever possible to uplift their social and economic status.”