Insurance group releases P375-M Covid-19-related claims

Insurance group releases P375-M Covid-19-related claims

MANILA – Insurance claims related to the coronavirus disease 2019 (Covid-19) have reached about PHP375 billion so far for AIA-Philam Life.

In a virtual briefing on Wednesday, AIA Philam Life chief marketing officer Leo Tan said the amount was released from March 2020 until July of this year and includes those released by its bancassurance partnership with Ayala-led Bank of the Philippine Islands (BPI), BPI-Philam, and with that of Citi.

“These are both hospitalization and death claims, but more on hospitalization,” he said.

To further help more clients, Tan said they have included starting this year an accommodation feature in their medical plan intended for those who are experiencing side effects from Covid-19 vaccines.

“This is also our way of helping the government in achieving herd immunity because that’s quite important with all the vaccination programs that are rolling out in the respective LGUs (local government units),” he said.

Tan said they intend to be part of the government’s bid to protect Filipinos’ lives, thus the launch of a health coverage product earlier this year that has comprehensive critical illness cover, including Covid-19.

He said the product aims to increase coverage for their clients, especially since new Covid-19 variants are coming out.

“We are part of those who are helping the government fight this pandemic and also achieve herd immunity,” he added. (PNA)

Leave a Reply