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Wednesday, July 11, 2018

OFW Protect From Standard Insurance For as Low as P2,700 Per Year

The main reason why Overseas Filipino Workers (OFW) decide to work abroad so that it can provide the needs or even wants of its family back home. Oftentimes, the OFW becomes the breadwinner of the family. But what will happen if the OFW can no longer work due to unfortunate events? For example, sudden death or disability? This is the reason why every OFW should consider having an insurance. This is not just to ensure you as a breadwinner of the family but also making your family safe and secure if the untoward incident may happen. 
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The main reason why Overseas Filipino Workers (OFW) decide to work abroad so that it can provide the needs or even wants of its family back home. Oftentimes, the OFW becomes the breadwinner of the family. But what will happen if the OFW can no longer work due to unfortunate events? For example, sudden death or disability? This is the reason why every OFW should consider having an insurance. This is not just to ensure you as a breadwinner of the family but also making your family safe and secure if the untoward incident may happen.
If you are looking for insurance you may consider the OFW Protect under Standard Insurance. According to its website, "OFW Protect is designed to fit the needs of OFWs." Under the insurance program, the OFW will be covered from the following;
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  • Accidental Death
  • Permanent Total Disability
  • Accident Medical Reimbursement
  • Daily Hospital Income
  • Educational Assistance
  • Fire/Flood Loss Assistance
  • Burial Benefit
  • Repatriation
  • Personal Liability
  • Extensions of Cover
  • Drowning
  • Dog or Snake Bites
  • Claims arising out of Typhoon and Flood
  • Suffocation by smoke or poisonous fumes
  • Accidental Poisoning
  • Motorcycling Risk

OFW Protect Plan Types:
  • Package 1 – Php 1,000,000.00 coverage for only Php 6,200.00 (per year)
  • Package 2 – Php 750,000.00 coverage for only Php 4,200.00 (per year)
  • Package 3 – Php 500,000.00 coverage for only 3,200.00 (per year)
  • Package 4 – Php 250,000.00 coverage for only 2,700.00 (per year)
  • Filipino Overseas Contract Workers
  • 18-65 years old
  • single or married, widow or widower
  • Primary – Spouse, or if not married, Parents not over 65 years old
  • Secondary – Children of OFW not over 21 years old and are dependent to the OFW for support and maintenance (maximum of 3)
– If OFW is Single and/or with no child, brothers and sisters not over 21 years old and are dependent to the OFW for support and maintenance (maximum of 3)

For more information about OFW Protect, you may inquire here. You may also call the company's Customer Service at (02) 845-1111, email them at inquiry@standard-insurance.com or visit any of their branches nationwide.


SEE MORE:

Overseas Filipino Workers (OFWs) need to save while earning big from working abroad. As OFWs, saving money for an emergency, for our family's future or for our retirement is important. Opening a savings account in a bank that you trust and gives value to your money will inspire you to save more. Bayani OFW Savings from Sterling Bank of Asia is a savings account that comes with no maintaining balance and for as low as P2,000 pesos in your account, your money with grow with interest.

For minimum wage earners, there are times that it is hard to apply for a loan even in government financial institution, how much more in private. If you are receiving around P10,000 a month salary, it is really hard to apply for a loan, since your payslip is number one requirements to know your capacity to pay.

One of the best banks in the Philippines that offers a good option to Overseas Filipino Workers (OFW) is the Chinabank through its Overseas Kabayan Savings. By opening this savings account, you can start saving money for your future or retirement as OFW at the same time, send money to your family in the Philippines. Having a savings account for OFWs is very important because working abroad is not permanent.

If you want a savings account that does not require an initial deposit, you can apply for Sikap Pinoy OFW Account in Bank of Commerce. However, the Sikap Pinoy OFW Account is exclusively for Overseas Filipino Workers (OFW) only and their beneficiaries.


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