Manila Times
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Sunday, Jun 01, 2025
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GCash Introduces Free Health Insurance for Users
The initiative aims to enhance access to financial protection for Filipinos through everyday transactions.
GCash, the leading finance super app in the Philippines, is set to offer free health insurance coverage under FPG Insurance to eligible users purchasing prepaid credits via the app's Buy Load feature.
This new initiative aligns with the objective of strengthening the local insurance industry and providing insurance coverage to millions of Filipinos.
Winsley Bangit, the Vice President and Group Head of New Businesses at GCash, stated that the initiative aims to enhance access to effective financial protection for every Filipino.
"This initiative, powered by GInsure in partnership with FPG Insurance, reflects GCash's commitment to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost," Bangit remarked.
Eligible users utilizing Buy Load transactions will receive free health insurance coverage, helping them prepare for unexpected expenses arising from medical emergencies or accidents.
Ren-Ren Reyes, President and CEO of G-Xchange, Inc., emphasized that the benefit extends beyond financial aid, providing users with funds to cover medical costs or compensate for lost income during recovery, thereby preventing families from falling into deeper debt.
The free health and accident insurance will offer coverage of up to Php 30,000, along with additional benefits.
Each load purchase automatically grants a Php 10,000 accidental death coverage, which can accumulate to a maximum of Php 30,000 after three distinct eligible load purchases.
Furthermore, users can claim income assistance of Php 500 per day for a maximum of five days if hospitalized due to illness or accidents, as well as a Php 10,000 disablement benefit designed to serve as a safety net for users and their beneficiaries.
Currently, insurance penetration in the Philippines remains low, having increased to less than 2% in recent years.
With millions of Buy Load users on the GCash app, the company views this as an opportunity to protect more Filipinos by offering additional incentives beyond telecommunications services.
This new initiative aligns with the objective of strengthening the local insurance industry and providing insurance coverage to millions of Filipinos.
Winsley Bangit, the Vice President and Group Head of New Businesses at GCash, stated that the initiative aims to enhance access to effective financial protection for every Filipino.
"This initiative, powered by GInsure in partnership with FPG Insurance, reflects GCash's commitment to making financial protection accessible to every Filipino, ensuring that even the simplest transactions, like buying prepaid load, come with the added security of health coverage at no extra cost," Bangit remarked.
Eligible users utilizing Buy Load transactions will receive free health insurance coverage, helping them prepare for unexpected expenses arising from medical emergencies or accidents.
Ren-Ren Reyes, President and CEO of G-Xchange, Inc., emphasized that the benefit extends beyond financial aid, providing users with funds to cover medical costs or compensate for lost income during recovery, thereby preventing families from falling into deeper debt.
The free health and accident insurance will offer coverage of up to Php 30,000, along with additional benefits.
Each load purchase automatically grants a Php 10,000 accidental death coverage, which can accumulate to a maximum of Php 30,000 after three distinct eligible load purchases.
Furthermore, users can claim income assistance of Php 500 per day for a maximum of five days if hospitalized due to illness or accidents, as well as a Php 10,000 disablement benefit designed to serve as a safety net for users and their beneficiaries.
Currently, insurance penetration in the Philippines remains low, having increased to less than 2% in recent years.
With millions of Buy Load users on the GCash app, the company views this as an opportunity to protect more Filipinos by offering additional incentives beyond telecommunications services.
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