The Palawan Group of Companies has rolled out Palawan ProtekTODO Critical Illness, a new insurance product designed to give Filipinos affordable financial protection against the country’s top three causes of death—heart attack, stroke, and cancer.
“This milestone product embodies everything we stand for – trust, innovation, and protection for every Filipino. As we mark 40 years of dedicated service, we reflect on the millions of lives we’ve touched through accessible financial solutions. More importantly, we look forward with a renewed commitment to help build a healthier, more resilient future for the communities we serve,” said Palawan Group of Companies president and CEO Karlo M. Castro.
The product is open to Filipinos aged 18 to 60, offering one year of protection and financial support during critical times.
For as low as P550 per year, Filipinos can get essential coverage, with a 100 percent cash payout upon diagnosis, regardless of the illness stage. Customers may choose between two plan options: the Basic Plan, which offers P50,000 coverage, or the Plus Plan, which offers P100,000 coverage, starting at P1,100 annually.
The launch comes as the Philippines continues to grapple with rising medical costs and high mortality from critical illnesses.
According to the Philippine Statistics Authority’s 2024 Causes of Death report, ischemic heart disease remains the country’s top killer, responsible for 19.4% of fatalities, followed by cancer (neoplasms) and cerebrovascular diseases such as stroke.
With Oona Insurance Corporation as its underwriting partner, Palawan aims to ease the burden of health emergencies by offering protection that is “mura, mabilis, at walang kuskos balungos” (affordable, fast, and hassle-free).
