FWD Insurance to cover COVID-19

FWD Life Insurance Philippines, part of pan-Asian FWD Group, on Monday said it would provide additional benefits to eligible policyholders who tested positive for the coronavirus disease 2019 (COVID-19).

According to FWD Insurance, it would provide special coverage to policyholders of individual plans issued before March 1, 2020. 

The special coverage would be in effect from March 9 to April 15, 2020 Excluded, however, were those under FWD Peace, Set Ka Na, and Kandüü plans – KanMend, KanLive, and KanGuard. 

Under the coverage, policyholders would receive additional medical benefits of P100,000 upon diagnosis and within 48 hours after complete claim submission. 

An additional funeral benefit of P50,000 would be given to the beneficiary should death occur due to COVID-19.  

“FWD COVID-19 Ready is on top of our policyholders’ existing life insurance plans and riders and is meant to provide an extra level of protection amidst these uncertain times," FWD Insurance President and Chief Executive Officer Li Hao Zhuang said.  

"In true bayanihan spirit, FWD is doing its part to help our customers have confidence despite the growing threat of the COVID-19 pandemic. FWD COVID-19 Ready is our way of staying committed to our promise to be with customers every step of the way, so should they be affected by this disease, they can fully recover," he added.  

In the same statement, FWD said it would extend the insurance premium payment grace period to 90 days, accept insurance benefit claims beyond 30 days, and accept soft copies of all insurance claim documents.

News Source: GMA News Online