Mobile-first life insurer Singlife Philippines rolled out a product that replaces a customer’s income for 36 months in case of disability or death.
Cash for Income Loss, available on GCash, can replace up to 100 percent of the income of the covered breadwinner and comes with a two-month cash bonus given on the 36th policy month. For example, if a 30-year-old officer worker earns P30,000 monthly, they can get P1,140,000 in monthly benefits for P289 per month.
“Majority of GCash users belong to the workforce, with families solely dependent on their monthly income for daily needs,” said Jerome Lim, head of savings and insurance at GCash. “We are happy to offer them 100 percent balik-sweldo insurance that is big on coverage and easy on the wallet.”
Kame Amado-Gomez, head of digital networks at Singlife Philippines, added, “With Cash for Income Loss, they have a guaranteed source of money to replace lost income at a time when it matters most. Any financial stress will simply be taken care of, so they can just focus on getting back on their feet.”
Cash for Income Loss comes in Bronze, Silver, and Gold coverage levels to better fit different budgets. There is also an accidents-only plan suitable for those with tighter budgets or those whose age or medical status is ineligible for the full version.
Go to GInsure on the GCash app to get a personalized quote and buy a policy.
