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OFW INSURANCE PRODUCT

   
 

Pinoy Assist is a complete insurance program that meets compulsory insurance requirements for migrant Filipino workers under Republic Act 10022.

BENEFITS

Accidental Death – $15,000.00
Pays the insured Person’s legal heirs if accidental death is sustained by an insured Person:

  • While overseas
  • Caused by accidental, external and visible means
  • Results in death of the insured person independent of all other causes, within twelve (12) calendar months from the date of accident.

Non Accidental Death - $10,000
Provides a benefit in the event of death due to natural cause, by sickness or disease, as certified by a licensed physician and that is not considered accidental death.

Total and Permanent Disability - $7,500.00
Provides a benefit in the event of total and permanent disability that is due to accident and natural cause, by sickness or diseases certified by a licensed physician, within the duration of the Insured Migrant Worker’s employment and within the coverage period specified in the individual certificate of Insurance. The following disabilities are deemed total and permanent:

  • Complete loss of sight of both eyes; or
  • Loss of two limbs at or above the ankles or wrists; or
  • Permanent complete paralysis of both limbs; or
  • Brain injury resulting in incurable imbecility or insanity

Repatriation in Case of Death (Return of Mortal Remains)
As provided under RA 10022, assistance for return or repatriation of mortal remains shall be extended in the event of the Insured Migrant Worker’s death, which includes the following:

  • Transport of body
  • Legal assistance for paperwork
  • Burial Assistance in receiving funeral service in the Philippines

Repatriation (Termination of Employment)
As provided under RA 10022, a one way economy plane ticket shall be extended to the Insured Migrant Worker for the necessary return flight to the Philippines in respect of:

  • Termination by the employer of the employee without valid cause (illegal termination) ; or
  • Termination by the employee with just cause

Medical Repatriation
As provided under RA 10022, when medically necessary, repatriation under medical supervision for an insured Migrant Worker shall be arranged back to his or her residence in the Philippines, after the hospitalization and when medical condition has stabilized, to allow the Insured Migrant Worker to recuperate or recover from a medical condition.

Subsistence Allowance - $100.00 per month (maximum of 6 months)
Provides the Insured Migrant Workers subsistence allowance for a maximum period up to six (6) months:

  • Upon filing a legal complaint. In the country of employment, against his employer and/or recruitment agency for violation of the conditions of his contract of employment and;
  • While the Insured Migrant Worker continues to reside in the country of employment.

Money Claims Benefit - $1,000 (maximum of 6 months)
Gives the Insured Migrant Worker an amount equal to his or her monthly salary as stated in the contract of employment or $1,000 per month, whichever is lower, following a receipt of a final and executory decision or settlement for labor dispute (maximum six months for a 2-year contract).

Compassionate Visit – Round Trip Economy Air Ticket
Provides transportation with an economy round trip, for a designated family member or personal friend if the Insured Migrant Worker shall be hospitalized for more than seven (7) consecutive days.

Emergency Medical Evacuation
As provided per RA 10022, when medically necessary, the Insured Migrant Worker shall be evacuated to the nearest medical facility for required treatment of medical condition.

 FAQs OFW INSURANCE

PINOY ASSIST

1. What is Pinoy Assist?
Pinoy Assist is a compulsory insurance program aimed towards the welfare of our Overseas Filipino Migrant Workers.

2. What are the coverages?

NON-LIFE BENEFITS:

Accidental Death Benefit - $15,000.00
Refers to death resulting directly or independently from all other causes, from accidental bodily injuries.

Total Permanent Disablement (Due to Accident) - $7,500.00
Refers to disability where there is total complete loss of sight of both eyes; loss of two limbs at or above the ankles or wrists; permanent complete paralysis of two limbs; brain injury resulting to incurable imbecility or insanity.

Financial Assistance Benefits:

Repatriation (Other Causes) - Actual Cost (As provided under RA10022)
Repatriation cost of the worker when his/her employment is terminated by the employer without any valid cause, or by the employee with just cause, includes transport of his/her personal belongings. In case of death, the Insurance Provider shall arrange and pay for the repatriation of the worker’s remains and belongings. The Insurance Provider shall also render any assistance necessary in the transport, including but not limited to locating a local and licensed funeral home, mortuary or direct disposition facility to prepare the body for transport, completing all documentations, obtaining legal clearances, procuring consular services, providing death certificates, purchasing the minimally necessary casket or air transport container, as well as transporting the remains including retrieval from site of death and delivery to the receiving funeral home and back to the residence of the Insured Migrant Worker in the Philippines or to any place in the Philippines in accordance with the worker’s will, if there is any. The extent of the said benefits shall be regardless of the cost, the primary test of compliance being the complete repatriation of the worker or his/her remains, as the case may be, and his/her personal belongings.

Medically Supervised Repatriation - Actual Cost (As provided under RA10022)
When medically necessary as determined by the Insurance Provider’s physician and the consulting physician, repatriation under medical supervision to the migrant worker’s residence shall be undertaken by the Insurance Provider at such time that the migrant worker is medically cleared for travel by commercial carrier. If the period to receive medical clearance to travel exceeds fourteen (14) days from the date of discharge from the hospital, an alternative appropriate mode of transportation, such as air ambulance, may be arranged. Medical and non-medical escorts may be provided when necessary. The extent of the said benefits shall be regardless of the cost, the primary test of compliance being the complete repatriation of the migrant worker under medical supervision to his/her residence. The above assistance benefits must be performed or paid immediately by the Insurance Provider. The Insured Migrant Worker or his heirs should not be made to advance expenses. The assistance benefits should be in force while the Insured Migrant Worker is in the country of assignment for the duration of the policy.

Subsistence Allowance Benefit - $100.00 per month (maximum 6 months)
Refers to the sum of money given to a migrant worker who is involved in a case or litigation for the protection of his/her rights in the receiving country.

Money Claims Benefit - $1,000.00 per month (maximum 6 months)
Refers to the claim that may be awarded or given to the worker in a judgment or settlement of his/her case in the NLRC. The insurance coverage for money claims shall be equivalent to at least three (3) months salaries for every year of the migrant worker’s employment contract, the maximum amount per month of which is One Thousand United States Dollars (US$1,000.00) or the amount of salary under the employment contract, whichever is lower. In case the amount of insurance coverage is insufficient to satisfy the amount adjudged or agreed upon, the recruitment/manning agency is liable to pay the balance thereof.

Compassionate Visit - Actual Cost (As provided under RA10022)
When a migrant worker is hospitalized and has been confined or will be confined as determined by the attending physician and the Insurance Provider physician for at least seven (7) consecutive days, he shall be entitled to a compassionate visit by one (1) family member or a requested individual. The Insurance Provider shall pay for the transportation cost of the family member or requested individual to the major airport closest to the place of hospitalization of the worker. It is, however, the responsibility of the family member or requested individual to meet all visa and travel document requirements. The extent of the said benefits shall be regardless of the cost, the primary test of compliance being the complete transport of the visitor from and back to the Philippines.

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Medical Evacuation - Actual Cost (As provided under RA10022)
When an adequate medical facility is not available proximate to the migrant worker, as determined by the Insurance Provider’s physician and the consulting physician, evacuation under appropriate medical supervision by the mode of transport necessary shall be undertaken by the Insurance Provider. The extent of the said benefits shall be regardless of the cost, the primary test of compliance being the completion of the said medical evacuation.

LIFE BENEFITS:

Non-Accidental Death - $10,000.00
Any death that is due to natural cause, by sickness or disease as certified by a licensed physician and that is not considered as accidental death.

Non-Accidental Total and Permanent Disability - $7,500.00
Total and permanent disability that is due to natural cause, by sickness or disease as certified by a licensed physician and is not due to accident, within the duration of the Insured Migrant Worker’s employment and within the coverage period specified in the individual certificate of insurance. The following disabilities are deemed total and permanent: complete loss of sight of both eyes; or, loss of two limbs at or above the ankles or wrists; or, permanent complete paralysis of two limbs; or, brain injury resulting in incurable imbecility or insanity.

Who may avail of Pinoy Assist?
All recruitment agencies duly licensed by the POEA who are required under R.A 10022 to enrol their recruits (deployed OFWs) in the mandatory insurance program.

How can a recruitment agency enroll their deployed recruits in Pinoy Assist?
An application form duly completed by deployed OFWs must be submitted by all enrolees to the Pinoy Assist sales office for the issuance of the Certificate of Cover.

How much are the premiums and how are they paid?
The insurance coverage and premiums are denominated in US Dollars. Premiums vary based on the coverage period and occupational class. For specific premium quotes, please inquire from your preferred insurance agent.

When does the insurance coverage start?
The insurance coverage shall take effect on the date of departure from the Philippines to the state or country where the Insurance Migrant Worker shall be employed.


     

MICROINSURANCE PRODUCTS

   
 

ARAL ASENSO

Aral Asenso is a microinsurance program that provides accident insurance protection to the nominated breadwinner of the family and the student.

The insurance benefits ensure the continuous education of students.

Aral Asenso protects two (2) nominated breadwinners and the student against loss of life, permanent disability or dismemberment resulting from an accident.

The insurance benefits may be used for the following:
1. School Fees for the remainder of the year
2. Unpaid installments of school fees, and/or
3. Non-refundable school fees and charges

Said insurance benefits will enable the student to continue with his/her studies, plus an educational allowance benefit paid in lump sum for daily expenses.Once outstanding school fees have been settled, any excess insurance benefits shall be given to the student.

Who can be designated as a nominated breadwinner?
The following person/s can be designated as a nominated breadwinner:
1. Father
2. Mother
3. Legal Guardian (if both parents are deceased) or
4. Sponsoring Relative
Note: Nominated breadwinner should be within the age of 18 to 70 years old.

 

BUHAY ASENSO

Proteksyon para sa inyong Pamilya

- Buhay Asenso provides indemnity for loss of life resulting from accidents.

- It also provides financial assistance to the beneficiaries for burial expenses.

- Group plan options are available for individual or family basis.

  • Special Coverage/Riders are available
  • Simplified Policy Terms and Conditions
  • Easy Claims Requirements
  • Very Affordable Premiums

We can customize micro-insurance programs according to your requirements

 

 

BAHAY ASENSO

Proteksyon para sa inyong ari-arian at pamilya laban sa sunog

- Bahay Asenso provides financial assistance in the event of loss or damage of the insured residence due to fire.

- Group plan options are available for individual or family basis.

  • Special Coverage/Riders are available
  • Simplified Policy Terms and Conditions
  • Easy Claims Requirements
  • Very Affordable Premiums

We can customize micro-insurance programs according to your requirements

 

 

NEGO ASENSO

Proteksyon para sa inyong micro-negosyo

- Nego Asenso provides financial assistance in the event of loss or damage of the insured micro-business due to fire.

- Group plan options are available for individual or family basis.

  • Special Coverage/Riders are available
  • Simplified Policy Terms and Conditions
  • Easy Claims Requirements
  • Very Affordable Premiums

We can customize micro-insurance programs according to your requirements

 

HOW MICROINSURANCE WORKS


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 FAQs Microinsurance

1. What is microinsurance?
Microinsurance is an activity providing specific insurance, insurance-like and other similar products and services that meet the needs of the low-income sector for risk protection and relief against distress, misfortune and other contingent events. This shall include all forms of insurance, insurance–like and other similar activities with the following features:

  1. Premiums, contributions, fees or charges are collected/deducted prior to the occurrence of a contingent or unforeseen event; and
  2. Guaranteed benefits are provided upon the occurrence of the contingent or unforeseen event.

2. What is a microinsurance product?
Microinsurance product is a financial product or service where:

  1. The amount of premiums, contributions, fees or charges, computed on a daily basis, does not exceed five (5) percent of the current daily minimum wage rate for non-agricultural workers in Metro Manila; and
  2. The maximum sum of guaranteed benefits is not more than 500 times the daily minimum wage rate for non-agricultural workers in Metro Manila.

3. What are the features of a microinsurance product?

  1. Affordable Premiums - The amount of premium can range from less than P 1.00 up to P 19.00 per day.
  2. Simple Contracts with minimum restrictions. – The contract provisions can be easily understood by the insured and printed in English and/or Filipino. The contract shall also bear the microinsurance logo.
  3. Simple claims documentation and requirements.

4. Who are the target market of microinsurance?
They are the low income and the informal sector. They are the laboring poor/entrepreneurial poor. Like any other people, they are exposed to risks such as death, sickness, loss of properties caused by accident and/or catastrophes.

With insurance coverage, the poor and the low income sector will be in a better position to quickly recover from shocks brought about by these events.

5. Who can offer microinsurance products?
All commercial insurers (life, non-life and composite), cooperatives/cooperative insurance societies, mutual benefit associations and pre-need companies, health maintenance organizations licensed by the Insurance Commission may provide microinsurance products and services to their clients following prescribed regulatory requirements.

6. Can licensed microinsurance providers offer bundled products?
Yes. These entities may offer bundled microinsurance products ( e.g. life, non-life insurance, health and/or pre-need products) provided that:

  1. The bundled product shall comprise only of microinsurance products.
  2. Each of the components of the bundled product is underwritten separately by the entities; and
  3. The contract specifies the lead microinsurance provider assuming the liability for the bundled microinsurance products or services.