14 November 2018, Manila, Philippines
– Pan-Asian insurer FWD Life Insurance, one of the country's fastest-growing insurance companies, has launched its partnership with financial services firm TrueMoney. Through this partnership, FWD will be offering an affordable life insurance product, Set Ka Na, in TrueMoney Centers.
"FWD is truly delighted to partner with TrueMoney to bring much-needed protection to more Filipino families through the TrueMoney network. 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 Chief Executive Officer Peter Grimes. "Together with TrueMoney, we are excited to promote financial inclusion—banking the unbanked and covering the uncovered."
Based on a recently published financial inclusion survey by the Bangko Sentral ng Pilipinas, only one in every five adults in the Philippines has some form of insurance coverage: life insurance (6.8%), health insurance (5.4%), and microinsurance (4.6%)1. The survey is part of national research dedicated to collecting financial inclusion data from the perspective of both users and non-users of financial products and services, and was conducted from December 2017 to February 2018. FWD Life's partnership with TrueMoney is part of its goal to reach new and emerging segments, further expanding financial inclusion in the Philippines.
"We are pleased to collaborate with FWD Life Insurance in expanding the suite of financial services available through our TrueMoney Centers," said TrueMoney Philippines Chief Executive Officer Jacqueline Van Den Ende. "In line with our goal to provide accessible and low-cost financial services to Filipinos, our partnership with FWD Life is indeed a welcome addition to make this happen."
TrueMoney Philippines President Xavier Marzan also added, "As TrueMoney continues to grow its footprint in the country, we look forward to working hand in hand with FWD Life in providing more Filipino families with financial peace of mind via its Set Ka Na product. We have started rolling out the product through select TrueMoney Centers in Metro Manila with the aim to make it available in all our locations nationwide."
Initially launching in select TrueMoney Centers in Metro Manila, Set Ka Na is a basic life insurance protection plan which provides 1-year coverage for death, disability, and accidental death. Three (3) Set Ka Na packages are available with corresponding premium and benefits: Php95, Php185, and Php365 premium payment options for insurance coverages of Php25,000, Php50,000, and Php100,000.
To know more about FWD Set Ka Na, call the FWD Customer Connect Hotline +632 888 8388 or visit www.fwd.com.ph for 24/7 Live Chat.