As the coronavirus pandemic underscores the need for contingency funds especially for health-related emergency, bancassurance firm BPI Philam has rolled out a new life insurance product bundled with health protection and investment plan.
The new product, MedLife Protect Plus, is an investment-linked life and health insurance designed to give considerable protection and better access to medical care with minimal out-of-pocket expenses.
“MedLife Protect Plus provides policyholders with protection from financial setbacks due to health matters, while allowing them to build and expand their wealth,” BPI-Philam president and CEO Surendra Menon said in a statement.
Premiums start at P1,251 a month, payable until the age of 65, with benefit coverage until age 80.
MedLife Protect Plus goes with medical benefit riders, thus offering the combined protection of life and health insurance, and investment.
In case of hospitalization, policyholders will get access to quality healthcare and receive a medical benefit coverage with a maximum limit of P4 million a year.
In addition, policyholders are entitled to a daily hospitalization income benefit of up to P3,000 for each day of confinement.
Meanwhile, the life insurance coverage will be equal to the face amount of the plan, its account value, or the minimum guaranteed death benefit, whichever is the highest. INQ