As the Bureau of Fire Protection (BFP) continues to remind the public to observe fire prevention measures throughout the summer months, Cebuana Lhuillier strives to bring attention to its microinsurance products, particularly Alagang Cebuana Plus (ACP) Gold Plus, to show that there is a means to “rise up” after losing everything to fire.
To date, the company was able to provide financial assistance to more than 7,100 families in more than 36 areas destroyed by fire.
Since 2015, the microfinancial services institution has been helping fire victims through CLAIMS RAPIDO, an initiative where a dedicated team of Cebuana Lhuillier personnel will go to the fire-stricken area to immediately process the microinsurance claims of fire victims.
From having a two-day window in claims releasing, Cebuana Lhuillier now releases claims on-the-spot, easing the fire victims’ worries by giving them seed money to start anew. P5,000 fire cash assistance (up to P25,000 for five certificates of cover) is provided to all claimants upon presentation of complete documents.
“Cebuana Lhuillier has always been a business that puts emphasis on being a step ahead in answering clients’ needs. Through CLAIMS RAPIDO, we ensure that our KaCebuanas will have a means to start anew; a crutch that will carry them over until they’re fully ready to begin a new life,” shares Jean Henri Lhuillier, Cebuana Lhuillier president and CEO.
Cebuana Lhuillier has already managed to settle more than P180 million in payouts, providing Filipinos with financial security and protection during natural calamities and personal tragedies.
The company’s thrust to reach as many Filipinos as possible and educate them on the value of a microinsurance coverage is part of the 30-year old brand’s financial inclusion advocacy.
What makes microinsurance attractive is its accessibility. With low premiums, simplified requirements and faster pay-outs compared to traditional insurance plans, microinsurance allows Filipinos—even those in low-income segments—to have financial coverage.
A top choice among KaCebuanas is ACP Gold, a life and non-life microinsurance product designed for individuals aged seven to 70 years old. For as low as P40 for an insurance coverage valid for four months, plan holders are given access to: Accidental Death/Dismemberment & Disability (ADD&D), Fire Cash Assistance (FCA), rider benefit for unprovoked murder and assault and micro-insurance life coverage. Individuals attest to the value of this affordable investment, as the company has handled multiple pay-outs in the past, peaking at most during the months of March to April where incidents of fire are at its highest.