GLENN CARSTENS PETERS-UNSPLASH

BANK OF THE PHILIPPINE ISLANDS (BPI), in partnership with BPI MS Insurance Corp., has launched an accident insurance plan tailored for freelancers, consultants, digital nomads and other self-employed workers, tapping into a fast-growing segment of the economy.

The product, dubbed BPI Freelancer, offers lump-sum cash benefits in case of accidental death or permanent disability, whether work-related or not. Policyholders are also entitled to a P1,000 daily cash allowance for up to 10 days of hospitalization from accidents or covered illnesses.

The plan provides up to P20,000 in assistance for utility bills during recovery or loss and includes motorcycle accident coverage for both riders and passengers. Customers may opt for auto-renewal for uninterrupted protection.

“As more Filipinos carve their own path in the freelance and entrepreneurial space, BPI and BPI MS are leading the way in crafting inclusive financial solutions for this new generation of workers,” BPI MS Insurance President and Chief Executive Officer Noriyuki Kobayashi said in a statement on Thursday.

Open to Filipinos aged 18 to 65, the plan allows holders to extend coverage to as many as four dependents or form a group of up to five people without including themselves.

“This versatility makes the plan ideal not only for independent freelancers but also for those seeking to safeguard their families, partners or teams,” BPI said.

The annual premium starts at P499 for the basic package, P699 for the prime plan and P1,099 for the elite tier.

“BPI Freelancer represents our deep understanding of modern Filipino needs and our commitment to helping them thrive,” Mr. Kobayashi said.

BPI Consumer Banking Head Maria Cristina Go said the initiative responds to the growing number of Filipinos outside traditional employment. — AMCS

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