Fintech firm to give away 1 million microinsurance policies

ABS-CBN News

Posted at Mar 04 2018 04:48 PM | Updated as of Mar 05 2018 07:10 AM

MANILA - A financial technology subsidiary of PLDT said Sunday it is providing 1 million microinsurance policies across 42,000 barangays across the Philippines. 

FINTQ, the financial technology arm of Voyager Innovations under the PLDT Group, said the microsinsurance policies aim to reach unbanked and underserved Filipinos through its financial inclusion program dubbed KasamaKA. 

Lito Villanueva, FINTQ managing director said the microinsurance policies aim to help people cope and recover faster in times of natural disasters or unfortunate events in their lives.

"Beneficiaries of policyholders are entitled to the following claims: Accidental death and disablement, PHP20,000; Total and permanent disability due to accident, PHP2,500; Burial assistance due to accident, PHP5,000; Daily accident hospital benefit, PHP200 per day for a maximum of 10 days hospitalization due to accident; and Fire cash assistance, PHP5,000," the company said in a statement. 

The firm said distribution of free microinsurance policies will run from February 27 to March 13. 

Those interested to avail of the free microinsurance will need to register as a KasamaKA member by texting KKK to 29292 or signing up at KasamaKA’s website: www.kasamaka.com, FINTQ said.