GCash Provides Free Health Insurance to Over 20 Million Filipinos
With the financial impact the COVID-19 pandemic had brought
upon the country, digital financial service provider GCash has reported a
massive increased interest in financial security among Filipinos. And to help
everyone get on top of these new needs, GCash, together with mobile-first life
insurer Singlife Philippines, are giving away free health insurance through
GInsure to over 20 million eligible Filipinos for free.
With GInsure Cash for Dengue Costs with Free COVID-19
Coverage (CFDC) powered by Singlife, Filipinos can get cash allowance for tests
and hospitalization costs related to COVID-19 and Dengue. The ongoing promo
will give 3 free months of coverage to eligible TM, Globe Prepaid, Globe
Postpaid, and Globe at Home Broadband subscribers.
“Our vision is Finance For All, and we do
this by providing meaningful digital financial solutions that empower our
nation – so we can make Filipinos’ everyday lives better,” Jean-Francois Darre,
Chief Data Officer of GCash, stated. “Launching GInsure was a key element in
fulfilling our financial inclusion mission as we are now able to provide
Filipinos with access to relevant financial protection from unforeseen events.”
From 27 million registered GCash users reported in January
2021 to over 40 million in April – the demand for these online financial
platforms as people continue to refrain from going outside is unmistakable. In
fact, Darre disclosed that one of the key trends that GCash has observed is the
increase of search queries on how Filipinos can get easier access to wealth
management and personal finance services.
He also shared that the younger generation attributes to
most of the increased reception in financial security, wanting to preserve and
grow their hard-earned money. Aside from savings and investments, insurance is
also a top choice as it means having one less thing to worry about in the
future.
“Previously, only a small percentage of Filipinos, usually
the top percentile, had access to insurance. We want to change that by being
the platform that connects all FIlipinos to accessible, affordable, and
easy-to-purchase insurance products and services,” Darre claimed.
GInsure,
like all financial services that GCash offers, may easily be availed via the
app – ensuring that the entire application process and all approvals are
secure. And with its current reach, GCash is opening the possibility for
millions of Filipinos to gain financial security whenever and wherever, without
the need to go out and meet agents, visit branches, and fill up long forms.
“Keeping Filipinos at the center of our mission, GCash and
its partners seek to serve the interests and needs of Filipinos,” Darre shared “[And]
one of the biggest fears of Filipinos has been unexpected medical costs due to
illnesses.”
During this time where daily life is riddled with
uncertainty, insurance can provide financial aid in case of unfortunate events
– especially to those who are more vulnerable to sickness like frontliners and other
Filipinos who need to go out to work in order to put food on the table. “Especially
now that not all have the luxury to work from home, we want to be able to help
reassure them that despite placing themselves at risk, there is still a way for
them and their families to stay protected with our affordable insurance
platforms,” Darre commented.
For
those who do not qualify for the free insurance promo, GInsure CFDC can be
availed for as low as PHP 300 per year for up to PHP140,500 of coverage, PHP
550 per year for up to PHP 281,000 of coverage, or PHP 700 per year for up to
PHP421,500. To reach more Filipino households, the insurance coverage may be
extended to one’s family for up to one spouse and five children.
“In
just a few months after launching inside the GCash app, we’ve already insured
hundreds of thousands of Filipino lives,” Darre revealed. “But this is just one
small step towards insuring the tens of millions of Filipinos nationwide and
around the world.”
This
is why GCash and Singlife has partnered with Globe to offer the free
three-month promo. With the latter’s 80 million subscribers, the collaboration
opens the doors for a lot of Filipinos to get financially protected – all but
with just a few taps on their app.
“We
believe every Filipino should have easy access to financial protection in the
form of insurance. We want Filipinos to gain access to insurance products and
services relevant in every aspect of their lives – so they can not only
preserve, but uplift their current lifestyle,” Darre concluded.
If
you’re a Globe or TM subscriber, head over to the GCash website to
learn how you can avail your free 3 months of GInsure Cash for Dengue Costs
with Free COVID-19 Coverage.
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