BCS Financial was awarded the ‘New Product of the Year’ and ‘North American Contribution to Society’ awards for its EssentialCare Critical Illness product line.
The EssentialCare Critical Illness policy provides coverage for up to 35 of the most pervasive critical illnesses, including severe mental illness, plus eight childhood conditions. When it was named a finalist in the 2019 Insurance Nexus Awards, Bruce Bahn, Vice-President of Product Development, said that the company was proud to be the first to bring this coverage to the US market and to be recognised by industry peers.
We have introduced coverage for four of the most prevalent serious mental health conditions, recognising a severe mental illness as a 'critical illness' under the policy
Bahn commented on the accolade: "As healthcare costs continue to rise, a majority of the population is ill-prepared for the toll a critical illness diagnosis or life-changing health event could take on their lives – and their wallets. With EssentialCare Critical Illness, we have introduced coverage for four of the most prevalent serious mental health conditions, recognising a severe mental illness as a 'critical illness' under the policy and protecting consumers from the financial burden of a critical illness diagnosis, whether physical or mental."
James Drew, Senior Vice-President, Marketing, Product and Strategic Ventures, also shared his thoughts: "EssentialCare Group Critical Illness is an innovative solution to help address the financial challenges facing today's health insurance consumers. This recognition is a credit to the hard work and dedication of our team at BCS who worked tirelessly to create something new and innovative. We are proud to be the first to bring this coverage to the US market, and to play a part in supporting mental health in America."