Officials of FWD Life Insurance and TrueMoney sign a partnership to offer affordable insurance products. FWD Life Insurance handout photo
MANILA -- FWD Life Insurance said Thursday it was expanding to the affordable space, with the products to be offered in TrueMoney centers.
The pan-Asian insurer said it was targeting heads of family with its FWD Set Ka Na product, while aiming to bring more financial services to the unbanked.
"FWD's Set Ka Na product is a simple, relevant, and affordable life insurance plan which is designed with family breadwinners in mind," said FWD Life Philippines President and CEO Peter Grimes.
Set Ka Na provides 1-year coverage for death, disability, and accidental death. It is available in 3 packages: P95 premium for P25,000 coverage, P185 for P50,000 and P365 for P100,000, FWD said.
FWD Life earlier offered a first of its kind anti-terror coverage and dollar denominated insurance.