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Monday, March 4, 2024

Senior citizen seeks help from ‘CIA with BA’ for unclaimed cash insurance

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Aling Nora took to the public service program ‘CIA with BA’ to ask for help regarding her cash insurance that she could not claim from the insurance company.

In the “Payong Kapatid” segment of the September 17 episode, the senior citizen sought advice from Senators Alan Peter and Pia Cayetano and TV host Boy Abunda. According to Aling Nora, the money she invested with Loyola Consolidated Plans was her savings from working as an overseas Filipino worker in Singapore from 2012 to 2016.

In 2019, she decided to withdraw her funds. However, the representatives from the insurance company only told her to keep on following up on her claim.

She shared, “There was even a date on my document that I should be able to claim it by January 19, 2019. But when I went there, they said Loyola didn’t have the money.”

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“I worked hard for that, and our salary in Singapore at that time wasn’t much. I should have used those payments to Loyola to invest in the National Housing Authority (NHA) to acquire a piece of land,” Aling Nora added.

Senator Alan explained that, based on the law, if your claim is not given within 15 days and your claim is valid, you can go to the Insurance Commission (IC). This applies not only to the claim itself but also to damages.

“What we’re going to do is our lawyers are going to accompany you. We’re going to ask not only for you but also for others who are in a similar situation with Loyola… I will make sure that the Insurance Commission sees your testimony because if this is happening not only to you, this isn’t the intent of the reforms we’ve made,” he said.

At the end of the segment, ‘CIA with BA’ reported that the insurance company in question is undergoing receivership proceedings due to financial deficiencies. For the protection of planholders, the IC issued a stay order, suspending payments for claims until there were sufficient assets converted to cash and ready for distribution.

The IC assured that Aling Nora’s name is on the list for planholders’ benefit payments.

Senator Pia expressed her gratitude for the opportunity to provide public service, emphasizing that they offer support beyond legal advice.

‘CIA with BA’ continues the legacy of Senator Rene Cayetano, the late father of sibling senators Alan and Pia. Senator Rene Cayetano was a renowned lawyer who became well-known through his radio and TV program ‘Compañero y Compañera,’ which aired from 1997 to 2001.

Don’t miss ‘CIA with BA’ with Alan, Pia, and Boy every Sunday at 11:30 p.m. on GMA7.

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