Bank of the Philippine Islands (BPI), in partnership with BPI MS Insurance, has launched a new personal accident insurance plan for freelancers and other self-employed individuals.
Launched on Sept. 12, the product, called BPI Freelancer, aims to address a gap in health and accident coverage for non-traditional workers, the bank said.
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“As more Filipinos carve their own path in the freelance and entrepreneurial space, BPI and BPI MS are leading the way in crafting inclusive financial solutions for this new generation of workers,” said Noriyuki Kobayashi, president and chief executive of BPI MS Insurance.
The plan is open to Filipinos aged 18 to 65 and offers flexible coverage options for individuals, a family of up to four dependents and groups of up to five people.
The insurance product is available in three tiers—basic, prime and elite—with annual premiums of P499, P699 and P1,099, respectively.
Depending on the chosen plan, policyholders can receive a one-time cash benefit ranging from P250,000 to P1 million in case of accidental death or permanent disablement.
The product also provides up to P20,000 in utility bill assistance and a P1,000 daily hospital allowance for up to 10 days of confinement due to accidents or covered illnesses.
It covers motorcycle-related incidents but excludes professional racing or sports activities, pre-existing illnesses and any disease outbreaks.
“At BPI, building a better Philippines means empowering every Filipino, no matter their employment status,” said Maria Cristina Go, BPI consumer banking head.
“With nearly 13 million freelancers shaping our economy, we are proud to introduce an insurance product designed specifically for the modern Filipino freelancer—a reliable safety net and trusted partner to help them pursue their passions with confidence and peace of mind,” said Go.
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Source: BPI launches new insurance plan for freelancers, self-employed workers – Manila Standard
