Sarathi sign MoU with Guardian Life Insurance Limited
'Sarathi- Improving Financial Health' signed a Memorandum of Understanding (MoU) with Guardian Life Insurance Limited (GLIL) to facilitate access to a customized health and life-embedded insurance product for 18,000 ready-made garment (RMG) workers and their community members within November 2022.
Out-of-pocket healthcare expenditure for Bangladesh was reported to be 72.7% by the World Bank in 2019.
To improve access to regular healthcare for the low-income population, 'Sarathi- Improving Financial Health', a project co-funded by Swisscontact & MetLife Foundation, has partnered with Guardian Life Insurance Limited, the biggest life insurer of Bangladesh in terms of life coverage, read a media release.
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Recently, The MoU was signed by Bipasha S. Hossain, Team Leader, Sarathi, Swisscontact Bangladesh, and Yeasin Arafat, Ex-Head of Digital Channel & ADC, Guardian Life in this regard, in the presence of the Sarathi team and representatives from Guardian Life Insurance Ltd.
The collaboration will usher in access to affordable health and life-embedded insurance products for ready-made garment (RMG) workers which will concurrently promote savings.
The upcoming product includes innovative features such as 24/7 telemedicine and live hospicash benefits alongside outpatient department (OPD) services. The features, including life insurance, are foreign to a majority of RMG workers and their community members. So, the initiative will also focus on educating them about the benefits of regular healthcare and life insurance.
