GSIS online emergency loans now available

Published April 18, 2020, 12:00 AM

by manilabulletin_admin

By Mario Casayuran

The Government Service and Insurance System’s (GSIS) online emergency loans are now available to its members and pensioners.

Earlier, Senator Christopher Lawrence “Bong” Go had made many appeals to the government to further help affected Filipinos with the extension of the enhanced community quarantine (ECQ) in Luzon due to the coronavirus disease (COVID-19) outbreak in the country,

Go also lauded the GSIS for its program to enhance the current life insurance of medical frontliners.

Go is the chairman of the Senate health and demography committee, and a member of the Joint Congressional Committee overseeing the implementation of the ‘’Bayanihan to Heal as One Act.’’

In a radio interview, GSIS President and General Manager Rolando Ledesma Macasaet announced that the agency’s members and pensioners nationwide will be able to take out a P20,000 loan, payable in three years at only six percent interest per annum. Monthly amortization is pegged at P655 only.

“Isang malaking tulong ang iniaabot ng GSIS para sa mga Pilipino, lalo na ang mga miyembro at pensioners nito. Ang mas maganda pa nito ay hindi kailangang bayaran agad ng buo dahil maluwag ang conditions para mas mapagsilbihan pa ang mga Pilipino sa krisis ngayon (The offer of the GSIS is a big help for the Filipinos, especially for its members and pensioners. What is more beautiful here is that you don’t to pay it immediately in full because of its easy conditions to help the Filipinos amid the current crisis),” Go said.

GSIS also made the application process easier by allowing online loan application.

According to Macasaet, one can apply for the loan online and submit required documents and identification.

Active members and pensioners with UMID cards can immediately apply for a loan through their GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branches and extension offices; government offices, such as provincial capitols, city halls and select municipal offices; large government agencies, such as the Department of Education; and several private partners, such as SM Malls and Rustan’s.

In addition, Go said that all GSIS members of good standing are also qualified to avail of the COVID-19 Emergency Loan with some exceptions, such as those who are on leave without pay, among others. Old-age and disability pensioners can also apply for the loan subject to some conditions.

Macasaet had told the House of Representatives’ Defeat COVID-19 Committee through a virtual meeting that the GSIS Bayanihan Fund for Frontliners would be in addition to the regular life insurance of the member-frontliners based on their monthly salary.

The GSIS Bayanihan Fund for Frontliners includes beneficiaries who are GSIS members under the Department of Health, health offices, hospitals, medical centers, treatment and rehabilitation centers, including local government units, and DOH-supervised hospitals.

With the new insurance policy, medical workers were granted a P500,000 addition to their allowable coverage.

In sum, the surviving family of a government medical frontliner who dies because of COVID-19 will be getting a minimum of P1.8 million (P500,000 from GSIS expanded insurance plus P1 million from the Bayanihan to Heal as One Act and 150 percent of the deceased’s annual salary under the GSIS regular life insurance.

Go has also appealed to the government to continue to support health workers serving as frontliners in the country’s fight against COVID-19 by providing sufficient protection, compensation, equipment and facilities to do their jobs.