SSS extends loans to Yolanda victims

Members of the Social Security System affected by Typhoon Yolanda may avail themselves of preferential loans and advanced pensions from the state-run firm to help themselves recover from the calamity.

This was according to the SSS, which said yesterday in a statement that members living in calamity-stricken areas may avail themselves of salary and housing repair loans at easier terms, and pensioners may apply for up to three months worth of advanced pension.

“Pensioners for retirement, disability or survivorship can apply for three-month advanced SSS pensions to help alleviate the financial burden caused by the recent calamity,” SSS Vice President May Catherine Ciriaco said in the statement.

Under the relief package, SSS members who previously availed themselves of salary loans may borrow again prior to prescribed schedules.

Also, the one-percent service fee for processing of salary loan applications will be waived.

The SSS has also waived the fee of up to P3,000 for the processing of housing and repair loans.

The SSS is giving its members and pensioners in the affected areas six months to apply for housing loans and advanced pension, and one year to apply for housing repair loans.

A member with at least 36 monthly contributions may apply for a maximum salary loan of P30,000.

A member with at least 72 monthly contributions may apply for a maximum loan equivalent to twice his monthly salary credit.

The SSS also said it had donated P250,000 to calamity-stricken areas.

Meantime, the organization of nonlife insurance companies in the country said its members were told to expedite the processing of claims by policyholders.

Also, the Philippine Insurers and Reinsurers Association (PIRA) said in a statement that holders of nonlife insurance policies in affected areas may immediately file for claims.

PIRA also said the nonlife insurance sector was financially healthy enough to be able to service claims from clients who lost properties due to calamities.

As of press time, PIRA said it was still gathering reports to estimate the value of insured properties damaged by Yolanda.

“PIRA does not have any estimate of insured damage yet. But the insurance industry is sturdy enough,” PIRA said.

PIRA also said it was gathering donations among its members to provide relief goods to people in Leyte and Samar, two of the hardest-hit provinces.