MANILA, PHILIPPINES — Singlife Philippines introduces a new monthly payment feature that makes protecting from unforeseen medical costs and sudden income loss more flexible to every budget. Now, customers can get coverage for COVID-19 and Dengue medical costs worth up to ₱421,500 or up to ₱5,700,000 for income loss for as low as ₱100 per month.
Life insurance can help you live life with less financial worries. It provides a safety net that ensures you and your loved ones will have money when it is needed most. However, most families lack the protection they need to overcome financial struggles and setbacks. This is due in part to limitations in planning for the future when they are tied to a monthly budget.
Not having a protection plan in place can lead to more problems when the unexpected happens. When finances continue to be a struggle, some turn to loans with high interest rates that can bury them deeper in debt. This is especially true for those with bulk of their monthly budget pre-allocated to daily living expenses, so the decision to buy life insurance gets deferred.
Knowing the situation for most households, Singlife Philippines offers a monthly payment option for all its protection products with a yearly premium worth at least ₱1,000. This makes it easier for every Juan to buy life insurance now and even consider getting a higher coverage level with greater benefits without having to skimp on other necessities; not to mention being able to easily reactivate their policy depending on their financial situation.
The mobile-first life insurer makes it easy to keep the habit of paying monthly premiums by auto-deducting from your GCash wallet.
Meaningful protection without breaking the bank
Singlife Philippines ensures that financial needs are met in full, so you can avoid using your savings or making loans when faced with an expensive medical bill or when your primary source of income gets cut. The benefits its products provide can make a huge difference in your life, compared to other standard offers which are cheaper but covers very little of what you and your loved ones need to recover.
Take, for example, Cash for Income Loss: for only ₱289 per month, a 30-year-old customer earning ₱30,000 per month can get cash to replace 100% of his income for 36 months if he gets disabled or pass away. It also comes with a 2-month cash bonus to help him and his family bounce back stronger. That’s ₱1,140,000 in total benefits to keep the family afloat for 3 years even after losing their primary source of income.
“We believe that everyone should be able to secure their finances for the benefit of their loved ones,” said Kame Amado-Gomez, Head of Digital Networks at Singlife Philippines. “Our monthly payment feature will make it possible for more people to buy life insurance with substantial coverage while still being able to use their hard-earned money for other necessities. For as low as ₱100 per month, the people who matter most in their lives can be protected from financial hardships if the unexpected happens.”
“Our goal to democratize life insurance through GInsure goes beyond offering protection that is affordable but also comprehensive,” said Jerome Lim, Head of Savings and Insurance at GCash. “This monthly payment feature will surely help our millions of users get the protection coverage they need now instead of having to delay any further to afford the yearly rate.”
