The hassles of commute to work, high rate of accidents
and crimes, and the struggles to make ends meet are just some of the challenges
that most Filipinos have to face on a daily basis. With a majority of the
population below the poverty line, it comes as no surprise that acquiring the
basic needs remains top priority.
Ideally, an insurance policy is a necessity, especially
for those who are continuously exposed to the hazards of living and working in
places like Metro Manila. However, the high cost of traditional insurance
products has hindered most minimum wage workers from purchasing them.
It is this issue that encouraged Pioneer Insurance and
Cebuana Lhuillier to offer micro-insurance to majority of the country’s
low-income earners through Alagang Cebuana Plus, a basic form of insurance
policy that covers individuals aged seven to 70 years old from accidental
death, dismemberment, and disability, and a rider benefit for unprovoked murder
and assault for up to P20,000. The product also extends fire cash assistance of
P5,000. Each policy is available for only P25 with a four-month validity
period.
