FWD Insurance provides COVID-19 special coverage to existing policyholders

13 March 2020, Manila, Philippines – Fast-growing insurer FWD Life Insurance Philippines (FWD Insurance), part of pan-Asian FWD Group, announced it will be providing additional benefits to eligible policyholders who are diagnosed with COVID-19.

The FWD COVID-19 Ready special coverage will be provided to FWD policyholders of individual plans (excluding FWD Peace, Set Ka Na, and Kandüü plans – KanMend, KanLive, and KanGuard) issued and active before March 1, 2020. Under this special coverage, which will be in effect for a limited period from March 9 to April 15, 2020, additional medical benefit of Php100,000 will be provided to the policyholder upon diagnosis and within 48 hours after complete claim submission. Should death occur due to COVID-19, an additional funeral benefit of Php50,000 will be given to the beneficiary. 

“FWD COVID-19 Ready is on top of our policyholders’ existing life insurance plans and riders and is meant to provide an extra level of protection amidst these uncertain times,” FWD Insurance President and Chief Executive Officer Li Hao Zhuang said. “In true bayanihan spirit, FWD is doing its part to help our customers have confidence despite the growing threat of the COVID-19 pandemic. FWD COVID-19 Ready is our way of staying committed to our promise to be with customers every step of the way, so should they be affected by this disease, they can fully recover.”

In addition, FWD Insurance is providing additional benefits and consideration amidst the COVID-19 situation, until April 15, 2020:

- Extension of insurance premium payment grace period to 90 days for customers with confirmed COVID-19 cases 

- Extension of insurance premium payment grace period to 90 days for customers with confirmed COVID-19 cases 
- Extension of insurance premium payment grace period to 60 days for all other customers
- Acceptance of all insurance benefit claims even beyond 30 days
- Acceptance of soft copies of all insurance claim documents