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Manila Bulletin devider Business devider BDO Life adds new benefits for free

BDO Life adds new benefits for free

Published Apr 28, 2020 12:00 am
By James A. Loyola Amid the COVID-19 pandemic, BDO Life Assurance Co. is providing additional insurance benefits to those who are covered by its individual life plans and afflicted by the virus—at no extra cost. The life insurance arm of BDO Unibank, Inc. commits to pay an additional P20,000 in the unfortunate event that the insured individual passes away from COVID-19 between March 1 to July 1, 2020. If the insured individual is covered by any Critical Illness product — Health Secure, HealthFlex Advanced, or Dread Disease Rider — BDO Life will release this additional benefit immediately upon diagnosis from an FDA-approved test conducted within the abovementioned period. Moreover, insured individuals who are qualified to receive Daily Hospital Income Benefits from BDO Life’s Hospital Income Rider will receive an additional ₱2,000 per day of confinement for a maximum of 14 days, if they are confined between March 1 to July 1, 2020 due to COVID-19. Amid the daily challenges posed by the COVID-19 pandemic, we continue to find ways to reach out to our customers, particularly those who have been exposed to and afflicted with this virus,” said Renato Vergel De Dios, president and CEO of BDO Life. He added that, “We believe that these additional benefits will help reduce the financial burden on our customers and their loved ones.” To further assist customers during this time, BDO Life previously announced an extension of its grace period from the usual 31 days to 91 days, for all policies with premiums due from February 1 to June 1, 2020. BDO Life will accept claims for this additional benefit from its customers until December 1, 2020.
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