IN A bid to make some of their products more accessible to the public, Insular Life has made their accident insurance package available in Lazada Philippines.
In a statement, the insurance company said for as low as P195, one can avail of Insular Life’s (InLife) Shield Series.
"The Shield Series gives Filipinos, especially family breadwinners who have little or no insurance coverage at all, protection against the immediate needs accidents bring. Accidents are unforeseen events, but while they are unexpected, it would be to our advantage if we are prepared for them,” Miriam Z. Choa, InLife Chief Marketing Officer, said in a statement.
Arnaldo I. Aquino, InLife senior vice president and Visayas-Mindanao teritory head, said in a recent roundtable interview that the product is targetted to the younger generation who are constantly on their phones and doing online shopping.
He said through Lazada's platform, they want to introduce the younger generation to financial literacy.
InLife said the Shield Series has four plans that give protection for one whole year: Junior Shield for P195.00, Family Shield for P260, Parent Shield for P285, and the Legacy Shield for P355.
"All Shield plans give accidental death and disability benefits, plus allowances to fund accidental medical and surgical expenses," the company said.
InLife’s Shield Series is an exclusive offer to eligible Lazada PH members who are residents of the Philippines between 18 to 64 years old, and in good health at the point of application. Similar to all other Lazada transactions, one time premium payments may be made via credit card, debit card, or Lazada e-Wallet.
However, Aquino pointed out that while their online products in Lazada are picking up, it might still be a long time before insurance products are made available through online shopping platforms.
While it may be the beginning of a trend where insurance packages can be bought online, Aquino underscored that insurance products are things that need to be explained properly to clients.