(Press Release)
To help more Filipinos gain a foothold toward financial security, Malayan Insurance Co. Inc. has launched its Family Relief product on the Lazada LazMall platform. Family Relief is a specialized non-life insurance policy that shields families from unexpected financial burdens brought about by accidents and misfortunes. It is the first product offered by the country’s leading non-life insurer on the online shopping platform.
“Our goal in Malayan is to help more Filipinos gain access and to establish financial safety nets that will secure their future, especially those underserved. By increasing our presence in digital channels and online marketplaces like Lazada, we are enabling our countrymen to have the fortitude and peace of mind to help them and withstand financial shocks, disasters, and other crises that could occur in their household,” said Paolo Y. Abaya, President and Chief Executive Officer of Malayan Insurance.
For as low as ₱500, the Family Relief Basic package helps households cope with unbudgeted financial needs caused by the untimely demise of a loved one. This non-transferable, one-year policy is renewable annually. It provides beneficiaries with a lump sum death benefit of ₱1.05 million if the policyholder passes away due to an unforeseen accident.
Through this affordable package, policyholders and their families are assured of burial expenses assistance of up to ₱500,000 to help them contract the services of air and ground ambulance service providers and secure a memorial lot or columbarium.
Beneficiaries will also receive a funeral service expense benefit of up to ₱200,000 to cover the costs of cremation and embalming. They will also receive a casket or urn expense benefit of up to ₱100,000.
To help the bereaved handle the cost of burial service requirements, including prayers and services, music, security, transportation, seat and tent rentals, and the like, Family Relief extends assistance of up to ₱50,0000.
“Nothing is more painful than losing a loved one. With the help of Family Relief, grieving families can focus on keeping their loved ones’ memories and legacies alive instead of worrying about how to give them the decent send-offs and burials they deserve,” Abaya added.
Aside from Malayan’s new Lazada online store, the insurance company has also made its products and services accessible on other digital channels, such as GCash and Cebuana Lhuillier’s virtual shops.
Lazada is one of the most popular online marketplaces in the Philippines that aggregate consumer services and goods for sale, such as food, clothing, technology, and now, through Malayan, non-life insurance.
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