In line with the Philippines’ efforts to further boost the local insurance industry, GCash, the country’s leading finance super app, is introducing a new feature to unlock access to insurance for millions of Filipinos.
The e-wallet is providing free health insurance, underwritten by FPG Insurance, every time eligible users buy prepaid credits for themselves using the Buy Load service.
“This initiative, powered by GInsure in partnership with FPG Insurance, reflects the commitment of GCash to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost,” said Winsley Bangit, vice president and group head of New Businesses at GCash.
Made possible by GInsure, every time eligible users make Buy Load transactions on the GCash app, they can also avail of the free health insurance coverage, empowering users to prepare for unexpected medical expenses due to accidents or hospitalization.
“Beyond just financial assistance, this benefit ensures that users have funds to cover medical costs or compensate for lost income during recovery, helping prevent families from falling deeper into debt and alleviating financial struggles,” Ren-Ren Reyes, president and CEO of GCash mobile wallet operator G-Xchange, Inc.
The free health and accident insurance gives eligible users up to P30,000 coverage and additional valuable benefits. For every load purchase, a user can automatically get P10,000 in accidental death coverage, which can be accumulated up to a maximum of P30,000 when making up to three separate eligible load purchases.
Users can also get income assistance when they’re hospitalized due to illnesses and accidents, allowing them to receive P500 per day salary assistance for a maximum of 5 days. They can also get up to P10,000 disablement benefit, providing the user or their beneficiaries a safety net.
GCash introduced this initiative in response to shifting user needs. With millions of Filipinos still hesitant to fully embrace digital transactions, they still rely on traditional offline methods. (PR)
