TradeTravelJournal.com | Free P200k insurance for BPI-Philam, BPI clients; registration ‘til June 30 only | The registration period for the free COVID-19 life insurance coverage for their clients has been extended until the end of June by BPI-Philam and its affiliate Bank of the Philippine Islands (BPI). The insurance is valid for 90 days.
One million clients will receive Php200,000 in life insurance from BPI-Philam, a total of Php 200 billion. Anyone with a BPI account or a BPI-Philam policy may apply for the free insurance. This is an extra advantage on top of their current plan’s benefits for the latter. Overseas Filipinos are welcome to register as well, as long as they meet the eligibility criteria.
“We want to convince our customers that we are all in this together. BPI-Philam is committed to meeting Filipinos’ life, health, and financial security needs at this crucial time. In the midst of the pandemic’s confusion and fear, let us note that the most important thing is to look after our loved ones and protect what matters most until it’s too late,” said Surendra Menon, BPI-Philam Chief Executive Officer.
According to the latest figures from the Department of Health, there have been over 1.1 million confirmed COVID-19 cases across the country, with over 20,000 deaths.
Furthermore, the government’s vaccination programme is three years long, emphasizing the need for immediate action. BPI clients aged 18 to 64 who are not a probable/suspect/confirmed COVID-19 patient at the time of application are eligible for free life insurance from BPI-Philam. The registration can be done in its entirety on the website bpi-philam.com>, over the phone with Bancassurance Sales Executives (BSE), or in person at a branch.
BPI-Philam is AIA Philam Life’s bancassurance arm in the Philippines. It was one of the first in the world to provide free COVID-19 life insurance at the start of the pandemic, with one of the longest coverage periods of 90 days and the maximum coverage amount of Php 200,000. The scheme, which began in June 2020 and has since protected over 700,000 lives, has received 19 claims for a cumulative payout of Php 3.8 million.
Janice of Kalibo, Aklan, was one of the program’s first beneficiaries. The most important revelation during their family’s COVID-19 ordeal was how the virus can affect everyone and even cause death. The program’s financial assistance allowed them to cope with their grief over a deceased family member without the stress of financial obligations.
“I believe that part of loving your family is providing them with a sense of security and peace of mind when the time comes for you to leave.
This is why I strongly advise people, especially the younger generation, to get insurance while they are still young and healthy,” Janice said.
Clients are encouraged to invite their family and friends to participate in the program as long as they are already BPI account holders.
Non-BPI account holders will take advantage of the offer by quickly opening an account before the deadline.
Meanwhile, those who want to expand their protection coverage beyond the allotted amount or for other insurable claims can use BPI-affordable Philam’s and available life and health insurance products to get maximum protection. Financial support for hospitalization costs, income insurance, accidental death/dismemberment/disability benefits, and other benefits are all possible.
“Most significantly, however, insurance provides people with peace of mind, which is a priceless advantage.
As a result, we’d like to extend an invitation to all to take advantage of this offer and safeguard their loved ones in the event of the unthinkable,” Menon said.
Customers who are interested should speak with a BSE or BPI branch officer for more information.