June 25, 2024


World Business Inquiries

Manulife boosts benefits for COVID 19-stricken clients

2 min read

Insurer Manulife Philippines has boosted insurance benefits for eligible clients who may be stricken with the dreaded coronavirus (COVID-19) until the middle of this year without additional premium cost to these customers.

“We are closely monitoring this situation and continuously looking for ways to make lives better for our customers during these unprecedented times,” said Richard Bates, president and chief executive officer at Manulife Philippines.

“By offering COVID-19 coverage benefits, we hope to lessen our customers’ worries about its potential financial burden on their families, so they can focus instead on recovering and getting better,” he added.

The benefits are available without any additional cost to customers with individual policies purchased on or before March 15, 2020 who are diagnosed with COVID-19 from March 23 to June 30, 2020.

The benefits are as follows:

– Customers with hospitalization benefit coverage will receive an additional P1,500 per day of hospitalization, up to a maximum of 10 days; and,

– Customers with critical illness coverage will receive a one-time diagnosis benefit of P10,000 upon being diagnosed positive for COVID-19.

Manulife Philippines has also stretched out premium payment period to 60 days after their due date from March 16 to April 30, 2020. Likewise, the company is waiving its 30-day notice period and 90-day requirements submission deadline for claims related to COVID-19 from March 10 to June 30, 2020.

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