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Manila Bulletin

Business

SB Finance, FWD team up for loan insurance

Business

SB Finance, FWD team up for loan insurance

By James A. Loyola

SB Finance Company Inc., a unit of Security Bank Corporation, has entered into a partnership with FWD Life Insurance to offer Group Credit Life Insurance as a voluntary add-on to applicants of the SB Finance Personal Loan.

In a statement, Security Bank said the insurance provides borrowers of SB Finance with financial security and protection whenever they take out a loan—as this will cover the loan balance of the borrower in the event of death or total and permanent disability.

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“We’re happy to partner with FWD Life Insurance to provide our clients with services that protect them from unforeseen events,” said SB Finance President and CEO Abbie Casanova.

She added that, “The integration of the Group Credit Life insurance into our product allows them to protect themselves and their families while having access to funds that can improve their way of living.”

The Group Credit Life Insurance is open to borrowers from 21 to 70 years old. To avail, borrowers simply need to fill out a form which will be reviewed and approved by FWD.

“FWD is honored to be the insurer of choice of SB Finance in safeguarding the loans of clients from unforeseen events such as deaths and accidents,” said FWD Life Insurance Philippines CEO Li Hao Zhuang.

He added that, “FWD enables people to celebrate living, and through this partnership with SB Finance we can help more Filipinos from all walks of life reach for their goals and achieve financial independence.”

In 2017, Security Bank embarked on a strategic collaboration with FWD Life Insurance to provide the Bank’s clients with insurance services tailored to their evolving needs.

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