Manulife Philippines and BDO Insurance Brokers Inc. forge partnership to make life insurance accessible to more Filipinos
OREANDA-NEWS. October 08, 2015. Manulife Philippines and BDO Insurance Brokers Inc. (BDOI) recently signed an agreement to make life insurance accessible to more Filipinos. With the launch of the Kasambahay Plan and Pinoy Protect, Filipino workers, including those working for households or in blue-collar occupations, can enjoy the benefits of life insurance coverage. They can avail of these life insurance plans at SM Bills Pay Counters in select SM Malls starting September 15.
“At Manulife, we recognize that Filipinos value building a secure future for their families, and that is one of their biggest motivators when they seek employment. This partnership with BDOI enables us to help more Filipinos secure their families’ future by making insurance more easily accessible,” said Ryan Charland, Manulife Philippines President and CEO.
The Kasambahay Plan and Pinoy Protect products are annual renewable insurance plans providing coverage for Accidental Death and Dismemberment (AD&D), Death (due to all causes), Total Permanent Disability (TPD), and Burial. “The Kasambahay Plan promotes responsible household employment by encouraging employers to include life insurance as one of the benefits of their household help, while Pinoy Protect enables Filipino workers to sign up for life insurance. At Php 285 per year for the Kasambahay Plan and Php 600 per year for Pinoy Protect, insurance coverage is now within anyone’s reach,” Charland noted.
“BDOI is pleased to make the Kasambahay Plan and Pinoy Protect available through the SM Bills Pay Counter at selected SM Malls. This allows us to broaden the range of value added services that we deliver to our customers. Availing of insurance coverage now becomes as easy as paying your bills at our payment counters,” added Tracy Tan, General Manager of BDO Insurance.
Through the Kasambahay Plan, Manulife delivers protection to household help for less than P1/day, or an annual premium of either Php 285, Php 410 or Php 660. Plan 660 will provide coverage worth Php 200,000 for Accidental Death and Dismemberment, Php 40,000 for Death, Php 20,000 for Total and Permanent Disability, and Php 20,000 for burial benefit.
Meanwhile, with Pinoy Protect, Manulife provides workers across income levels with the opportunity to avail of insurance policies for less than Php2/day or annual premium of either Php 600, Php 1,000 or Php 1,500. Plan 1,500 will provide coverage worth Php 500,000 for Accidental Death and Dismemberment, Php 30,000 for Death, Php 75,000 for Total and Permanent Disability, and Php 30,000 for burial benefit.
Interested customers can now purchase the Kasambahay Plan and Pinoy Protect at the SM Bill Pay counters in SM Mall of Asia, SM Makati, SM Megamall, SM North Edsa, and SM Fairview. Very soon, both insurance products will be available in other SM Malls nationwide.
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization.
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end of 2014, we had 28,000 employees, 58,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of June 2015, we had \\$883 billion (US\\$708 billion) in assets under management and administration, and in the previous 12 months we made more than \\$22 billion in benefits, interest and other payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong. Follow Manulife on Twitter @ManulifeNews or visit www.manulife.com.
About BDO Insurance
BDO Insurance Brokers, Inc. was established in 1988 to serve the insurance requirements of the country’s number one bank BDO, and the country’s number one retail chain SM and its affiliates. Through the years, BDO Insurance has grown in step with BDO Unibank, evolving into a total risk and insurance solutions provider and consultant for its clients, whether corporate or individual. It has consistently ranked as one of the top three insurance brokers in the country.