Answering the call of its plan holders for much-needed cash due to the COVID-19 pandemic, which has caused massive sickness, unemployment, pay cuts, and business closure, one of the country’s leading pre-need firms has paid a total benefit of P6.55 billion to 51,951 beneficiaries nationwide as of end-March 2021.
Of the amount, Philplans said P4.93 billion was distributed to at least 23,000 beneficiaries through PhilPlans’ Special Cash Programs, which were made available during the first lockdowns in the summer of 2020.
PhilPlans rolled out the programs to provide continued liquidity to its plan holders, so they may continue to provide for their families’ needs and have spare money to address any emergency that may occur during the pandemic.
With classes continuing amid the pandemic, PhilPlans still disbursed P919 million for its 19,281 educational plan holders for the above mentioned period. It also gave a total of P696 million to 9,670 pension and life plan holders.
As yet another lockdown has been imposed due to the exponential growth of COVID-19 cases in the country, PhilPlans has extended its Special Cash Programs to June 30. PhilPlans will get in touch with all planholders qualified for the said offers.
“The pandemic has already been hard on individuals, families, and businesses. In spite of these challenges, we remain committed to serving our planholdersby immediately responding to their needs. Our Special Cash Programs form part of our commitment to help them not just survive, but even thrive in this crisis,” said PhilPlans President and CEO Monico V. Jacob.
“We are thankful for the appreciation many of our planholders have given us for the continued support of their children’s education. But what really moves us is the fact that the programs have also helped fund a much-needed cataract operation and a loved one’s funeral among others. These just validate the way we have decided to serve our customers amid the pandemic,” Jacob continued.
“As PhilPlans continues to aid its planholders, we are in the process of digitizing our products and services, so they can become more responsive to the needs of the market, especially in the new normal. This way, we can give better customer experiences in the days to come,” said PhilPlans Chairman Eusebio H. Tanco.