The priorities of most overseas Filipino workers are to provide for the needs of their families. With lives gradually returning back to normal, it has become even more important for Filipino seafarers and OFWs to have access to the right tools so they can secure their hard-earned savings and come home to their families for good.
Data from the Department of Labor and Employment showed that only 32 percent—or only those who are agency-hired workers—of the 10 million migrant workers were insured. About 70 percent of Filipinos working abroad who are not covered by the DOLE policy on compulsory insurance coverage are extremely vulnerable to the dangers and risks associated with their host countries and work destinations.
This is what Sun Life Grepa Financial Inc., one of the major insurers in the country, wants to address through its “Balik-Tahanan” campaign.
“OFWs make daily sacrifices for the sake of their family. Oftentimes, they forget to strike a balance between spending and saving to lead a financially successful future and be with their loved ones for good,” Sun Life Grepa president Richard Lim said.
“The Balik-Tahanan campaign was created to inspire Filipinos to pull through the difficulties and anxieties brought by the pandemic and stay secure during these uncertain times,” he said.
Whether they are first-time, experienced or reintegrating OFWs, Sun Life Grepa said it has life and health protection plans that provide benefits for each of the key stages of their home for good journey.
They may avail of these Sun Life Grepa policies while in the Philippines.
Sun Life Grepa is a joint venture between the Yuchengco Group of Companies and Sun Life Philippines.
It offers financial protection products through its agency, bancassurance and group account channels.
YGC is one of Southeast Asia’s largest conglomerates with over 90 companies, while Sun Life has been a top player in the Philippine market for over 120 years.