Cebuana Lhuillier gives microinsurance cover to over 8 M Filipinos

More than eight million Filipinos are now covered by microinsurance through Cebuana Lhuillier, making up 30 percent out of the 26.6 million covered by some form of microinsurance product, according to data from the Insurance Commission.

Cebuana Lhuillier, the country’s premier microfinancial solutions provider, has also managed to settle more than P180 million in claims, providing Filipinos with financial security and protection during times of 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 advocacy on financial inclusion.

“Cebuana Lhuillier firmly supports the government’s thrust for wider microinsurance penetration in line with its war against poverty. We are proud to be of help to the Insurance Commission reach its goal of having 60 to 70 percent of the population covered by microinsurance by 2020,” Cebuana Lhuillier president and CEO Jean Henri Lhuillier said.

From a small pawnshop catering to families and workers in Pasay, Manila, the 30-yearold pawnshop brand has evolved into a full-scale microfinancial services company, offering services as diverse as pawning, remittance, microloans and microinsurance.

“The allure of microinsurance is that it’s accessible to everyone. With low premiums, simplified requirements and faster pay-outs compared to traditional insurance plans, microinsurance allows Filipinos – particularly those in lowincome and middle income segments – to have insurance coverage. We are honored to be given the opportunity to serve the marginalized who are the most vulnerable to risks brought my calamities, illnesses or accidents,” Lhuillier added.

Cebuana Lhuillier offers a wide-range of microinsurance solutions – from individual life and non-life insurance to group insurance for micro and small enterprises – are all affordable, easily available and within reach.

A top draw among individuals is the Alagang Cebuana Plus (ACP) Gold, a 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 the following benefits: life insurance, accidental death/dismemberment and disability, fire cash assistance, and rider benefit for unprovoked murder and assault.