By Patric Villalobos, Contributor
FWD Life Insurance Corp. has launched LiveSafe Plus, a packaged group life insurance plan designed for employees of small and medium enterprises (SMEs).
Owners of businesses, with 26 to 200 employees, can choose from any of its basic coverages like life insurance, terminal illness, and total and permanent disability benefits.
They also have optional protection add-ons, such as accidental death, disability, and dismemberment; accidental medical reimbursement, critical illness, and accidental hospital income benefits.
LiveSafe Plus provides coverage that may be extended beyond 65 years old. It has higher maximum coverage of up to P2 million for additional protection for employees who pass on, become critically ill, or totally and permanently disabled.
This surety product comes with terminal illness benefit up to 100 percent of the life insurance coverage, a feature that is not usually offered as part of packaged group insurance plans.
It covers varied employee profiles—from office personnel, site engineers, auto mechanics and even skilled or semi-skilled occupations, such as plumbers and messengers on foot
“A protected team forms an empowered business. As part of our commitment to protecting more Filipino lives, this benefit upgrade on LiveSafe Plus means more small enterprises can cover their employees amidst the uncertainties we are facing,” said Li Hao Zhuang, president and chief executive officer of FWD Insurance.
Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.
In the Philippines, it has 17 business hubs in key cities nationwide with its headquarters in Bonifacio Global City in Taguig.
As of end-2019, FWD Insurance continues to outpace life insurance industry growth as a Top 8 insurer, based on New Business Annual Premium Equivalent report of the Insurance Commission.
It also remains as one of the Top 3 insurers in terms of Paid-Up Capital.
FWD Insurance is part of pan-Asian FWD Group, which spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah, and Family Takaful products across a number of its markets.