Singlife launches ‘Cash for Goals (Education)’ a better way to fund your child’s ambitions

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Filipino Parents understand that quality education is the best way to pave a better life for their children. However, college tuition fees are expensive and continue to increase annually. To make sure there is money when it’s needed, they need to start building an education fund as early as possible. Singlife Philippines developed Cash for Goals (Education) to help parents prepare for education expenses.

• Start investing with just Php 2,500 with Singlife’s Cash for Goals (Education)’

Helping parents provide for their children

Cash for Goals (Education) helps parents save and grow their money so they can afford their child’s college tuition fees. Singlife makes this hassle-free by making the product available on GCash, which is accessible anytime, anywhere through any mobile device. The purchase experience is designed to be informative, user-friendly, and transparent so that parents can learn how the product works and make a purchase in just a few minutes.

Singlife has made investing for a child’s college fund budget-friendly. Initial investment starts low at only Php 2,500 and additional investments can be as low as Php 500/month. And it’s easy to stay consistent with monthly investing as funds are automatically deducted from the parent’s GCash account for convenience.

Through Cash for Goals, the parent’s money is invested in the Singlife Smart Investment Fund - a peso-denominated investment-linked fund that aims to earn more than traditional savings accounts by primarily investing in a mix of Philippine fixed-income and equity classes. The fund is managed by ATRAM, one of the country’s leading asset management companies.

On top of helping parents save and grow their money, Cash for Goals (Education) also ensures that the child has money for college in case anything unfortunate happens to his/her parents. If the parent investing in the child’s college fund passes away, Singlife will ensure that the target amount is available for the child by the time he/she enters college.

Singlife provides a better way

What makes Cash for Goals (Education) better than the run-of-the-mill investment-linked insurance product is that 100% of the parents’ money is invested, as compared to other products that charge very high entry fees. For parents, this translates to their investments earning more than 50% versus other products in the market, especially during the early years.

The product’s low cash out makes saving for education budget-friendly for every-Juan (and Maria). Cash for Goals (education) is available for as low as Php 500/month after a one-time initial investment of just Php 2,500. And when things get tight and parents need to withdraw funds for emergencies, they can do so without any fees or charges at any given time.

“As parents, we want to provide all we can for our children to help them reach their big ambitions and education is key to that. It is better to start as early as possible to avoid being confronted with the high cost of education when the need is already there and when our budgets might be constrained. To help parents be ready, we created ‘Cash for Goals (Education)’ and give them a better way to plan, save and grow funds for their child’s education,” says Rien Hermans, Singlife’s CEO.

Cash for Goals (Education) is the first unit-linked investment product offered by Singlife Philippines. The company develops products that help customers plan, save, and invest for their financial future.

To learn more about Singlife’s Cash for Goals product visit our website (http://singlife.com.ph/cash-for-goals/) or go to GCash (http://go.gcash.com/SinglifeCFGE).

Singlife’s Cash for Income Loss, a must have for every breadwinner

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• Need to protect yourself and your loved ones from possible income loss?
• Singlife’s Cash for Income Loss has you covered, FREE P100k accidents cover for 3 months

Manila, Philippines – Your salary empowers you to pay for housing, food and all the niceties in life for yourself and your loved ones. Money makes the world go round, as they say. But does your family’s world stop when disability, or even death, strike, and the salary you’ve gotten used to is no longer being paid?

Most homes have one or two breadwinners, those that bring in the money to live the life you have been living. And as most of us experience, adjusting your spending when the money coming in increases goes without a problem. Having that special lunch in your favorite place every week, sending the kids to a more expensive school, or buying that extra pair of shoes makes living life more enjoyable.

It is another story when the money that is available for spending decreases, as the salary we were used to is no longer something we can count on. Disability and even death are realities, and after just coming from a pandemic we all know very well that bad luck can happen to anyone.

Apart from the unfortunate direct effects, it all becomes a lot worse if there is also a significant financial impact. Just imagine being disabled and having to move out of the house as you can’t afford it anymore, and sending your kids to a new public school, and struggling to even get enough money for food on the table so that the kids grow up healthy.

Of course, chances are that you will never experience this, and we certainly wish you the best, but how much better would it feel if you could be prepared?

How to protect yourself and your family from income loss?

Singlife Philippines, a mobile-first savings and protection company, believes that every Juan and Maria must be able to ensure that there is money when needed; and a disability or death is one of those unfortunate events when you need someone to have your back.

Singlife’s Cash for Income Loss is the perfect product for this and for around only Php 280 per month, you can already ensure that you or your loved ones will receive a replacement income of Php 30,000 per month for 3 full years. That’s more than a million to get your life back on track, for the price of two packs of cigarettes per month.

“We offer the middle-income class in the Philippines solutions that have been exclusively available to the top 10% in the past. Protection for income loss is however especially valuable to normal people. People that work hard every day to provide their families a good life and have the aspiration for a better future for their kids and themselves”, says Rien Hermans, Singlife’s CEO. “Our products support them to be financially protected, whatever happens, and we do that without breaking their budget.”

Singlife’s Cash for Income loss is available in GCash, where you can choose your preferred cover by answering a few questions, get insured, and receive your policy in just a few minutes.

FREE P100k Accidents Insurance for 3 months

To reward you for protecting yourself, Singlife Philippines is giving everyone who has a personal quote made in GCash free Php 100,000 accident insurance. No need to purchase our product! We just want you to see for yourself how low the premium is and how easy it is to be insured with Singlife. Go to GCash today and tell your friends and family to do the same before May 15, 2022, to get your free Php 100,000 accidents cover.

To get your free accidents cover, go to GInsure in GCash, click on the ‘Cash for Income Loss’ product card, and answer a few questions to get a personalized quote. All qualified customers will then receive a notification via SMS and email with details on their free accidents’ insurance. It’s that easy!

All verified GCash users, aged 18 to 54 years old who are Filipino Citizens or foreigners that are legal residents in the Philippines can avail of this promo.

With Singlife, you are just a few taps away from securing your financial future.

Click this link https://singlife.com.ph/cfilaopromo/ to get your free P100k accidents cover.

SINGLIFE AND GCASH OFFER ‘CASH FOR INCOME LOSS’

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Replace your income for 36 months in case you get disabled or pass away

 

●      Singlife Philippines’ newest protection, Cash for Income Loss replaces up to 100% of a customer’s income for 36 months in case of disability or death.

●      Customers are given a personalized quote based on their health profile with the right amount of coverage for the best possible price.

●      Customers can buy, manage, and claim via GInsure on the GCash app.

Manila, Philippines – Mobile-first life insurer, Singlife Philippines continues to deliver no-fuss protection with the launch of Cash for Income Loss. Available on GCash, it safeguards customers and their families from unexpected loss of income due to disability or death of an income earner.

Just imagine the burden on your family when cancer or an accident makes it impossible for you to earn a living. Even worse is if you pass away. Apart from missing a parent or a spouse, those you leave behind will need to adjust their living standards to cope with the loss of income – from rent, food, transportation, to tuition expenses.

Cash for Income Loss can replace up to 100% of that income for 36 months for only a few hundred pesos per year. A 2-month cash bonus is also given on the 36^th policy month to help you and your family bounce back stronger. As an example, if you were a 30-year-old office worker earning PHP 30,000 monthly, you can get PHP 1,140,000 in monthly benefits for only PHP 289 per month.

Cash for Income Loss is tailored to fit your needs. It also comes in Bronze, Silver, and Gold coverage levels for those who feel that securing only a part of their income is enough, or to better fit their budget.

“’What will happen to my family if I can no longer provide?’ is a question breadwinners keep asking themselves,” said Kame Amado-Gomez, Head of Digital Networks at Singlife Philippines. “With Cash for Income Loss, they have a guaranteed source of money to replace lost income at a time when it matters most. Any financial stress will simply be taken care of, so they can just focus on getting back on their feet.”

Also available is Cash for Income Loss (Accidents), an accidents-only plan. A smart alternative for those with tighter budgets or whose age or medical status is ineligible for the full version.

Cash for Income Loss is available via GInsure on the GCash app. You can get a personalized quote and buy a policy in just a few taps.

“Majority of GCash users belong to the workforce, with families solely dependent on their monthly income for daily needs,” said Jerome Lim, Head of Savings and Insurance at GCash. “We are happy to offer them 100% balik-sweldo insurance that is big on coverage and easy on the wallet. Now, they can face each day feeling more confident knowing they have a reliable safety net to fall back on.”

Top 5 Christmas gift ideas you can give via the GCash App

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This 2020 holiday season is unique because of the pandemic, community quarantines and lack of opportunities to socialize with family and friends. So it’s no surprise that consumers will find other ways to give gifts -- or even give non-conventional gifts -- for Christmas.

GCash, the undisputed leader and preferred mobile wallet in the Philippines, suggests that Filipinos go for digital gifts readily available within the GCash app for Christmas. This is not only very practical and usable, but will also keep consumers safe from the pandemic by being contactless.

“This holiday season is the first in recent history where some friends and families won’t be able to see each other because of the pandemic, preventing much needed social interaction. However, through fintech, we can still make our loved ones feel the Christmas spirit. This is possible with GCash,” said Martha Sazon, President and CEO of GCash.

Here are some top recommendations users can check out for a Merry GCash Christmas:

Gift idea #1. Send aguinaldo to your inaanaks, family, and loved ones!

Physical aguinaldos on envelopes are a thing of the past. Go digital with GCash instead! Just navigate to the Send Money section of the GCash app, select Send Pamasko, and add the numbers of the recipients and the aguinaldo amounts you’re going to give them!

Users also have the option to customize their Send Pamasko through a variety of digital envelopes, and even add a holiday message to it, too! It will save everyone a lot of time and effort, plus your younger pamangkins and inaanaks will appreciate it more since it’s digital (because they’re the digital generation) with a dedication.

Gift idea #2. Gift prepaid load to others, and get the chance to win back load for yourself!

Sure, prepaid load isn’t something one thinks of immediately when it comes to Christmas gifts, but in this weird time of being contactless, having prepaid load is a key way to stay connected with family, friends, and loved ones.

Great thing is that GCash is also holding a promo this holiday season where you can win back the load you purchase.

Every regular, combo, or broadband load you purchase using the GCash app entitles you to one digital scratch card where you get a chance to win up to 100% of the load you bought back! Just enter the mobile number you used to purchase, and the transaction reference number you received from 2882 on www.load2win.com!

Gift idea #3. Getting your loved ones insurance is a great gift this Christmas

We have heard a lot of unfortunate stories about one’s health and well-being this year, especially relating to illnesses. That’s why having your friends, family, or loved ones insured is something that they will appreciate, knowing well that they can have something to fall back to regarding their health.

Powered by Singlife, GCash is offering medical coverage against dengue for as low as PHP 300 a year! The first 10,000 customers will also get free COVID-19 coverage when they avail.

If you want to have your immediate family protected with this gift, simply just log-in to the GCash app and go to GInsure. If you want to have your friends and extended family covered with insurance as well, you can use Send Pamasko and use the customized Singlife digital envelope to make sure they use it for purchasing insurance!

Gift idea #4. Pay someone’s bill for the gift of peace of mind

The pandemic has brought people to their knees physically, emotionally, and financially. If you have someone close to you that you know has been experiencing troubles and catching up with their monthly dues, why not pay it for them as a gift? Not only will they thank you for it for their peace of mind (imagine not having electricity for December because they weren’t able to pay their bill) , you’ll also buy them more time to get a better start for 2021!

To start, you can get their account number or bill reference details and the amount due, input it on the Pay Bills portion of the GCash app, and pay! The bill will be settled in as fast as 24 hours.

Gift idea #5. Donate to your favorite charity and make their beneficiaries’ Christmases a memorable one

People used to do feeding programs and other public social activities to celebrate their Christmas pre-COVID. Unfortunately, this is not really practical and safe to do anymore because of quarantine restrictions. However, there’s another way you can help -- by donating to a charity or NGO of your choice via the GCash app.

Through the GCash app, you can directly send funds to organizations such as the ABS-CBN Lingkod Kapamilya Foundation, Philippine Red Cross, Caritas, Childhope, Operation Smile, UNICEF, World Vision, and the World Wildlife Fund. Donations will greatly help their advocacies.

GCash is also holding its Merry GCash promo, where customers get a chance to win one of over PHP 30 million in prizes just by simply using the GCash app. For more information, visit facebook.com/gcashofficial.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

Singlife and GCash now offering no-fuss protection to Filipinos

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Entering the market, mobile-first life insurer Singlife Philippines officially launched its partnership with the country’s leading mobile wallet GCash, showcasing an innovative customer experience that will be available on the GCash app.

Life insurance has been present in the Philippines for more than a century, but only 5% to 6% of the insurable population own at least one policy. Market research indicates that another 15% to 20% of Filipinos are attracted by the value of life insurance. While some still haven’t purchased a policy as they feel intimidated to speak with sales representatives, others who have purchased found the overall value and customer service lacking. These often lead to discontinuation of contributions – and in most cases, waiving of benefits.

Singlife identified several hurdles that prevent people from getting insured: limited access, complex products, and high premiums. Limited access to buy through financial advisors lead to doubt if the customer’s needs are indeed prioritized, and whether the financial advice given is best for them. High premiums come with the expectation that payments will be made in 5 to 20 years’ time to optimize the value of the policy. And in some cases, some policies hardly survive until the end of the payment period and realize the benefits promised at the moment of purchase. These are affirmed when negative experiences are shared among friends and family and affect decision-making, especially for first-time customers.

To address these concerns, Singlife uses digital technology to redesign its products and offer fuss-free protection. “What makes Singlife’s products different is that they are designed to be meaningful: offering basic protection that is easy to purchase, easy to manage, and easy to maintain. We do not have anything to hide and that makes it possible to be transparent and clear. You can always ensure that our solutions fit your financial needs, and that you are not bound by long-lasting contracts preventing you from optimizing the value of the product. Singlife empowers you to be in control.” said Singlife Philippines President and CEO Rien Hermans.

Expanding its presence from Singapore to the Philippines, Singlife partnered with GCash as it offers simple and flexible products at affordable prices, with a similar goal of unlocking the potential of money for all Filipinos. “This partnership comes at a crucial time when health and financial security are a priority. Leveraging Singlife’s technology and offerings, we have an opportunity to provide more Filipinos with meaningful life insurance products that can effectively protect them and secure their financial well-being,” said GCash President and CEO Martha Sazon.

Apart from the partnership, Singlife and GCash will launch their first product: Cash for Dengue Costs, a comprehensive yet affordable protection product that provides a multi-level benefit against medical costs due to mild to severe cases of Dengue – a first of its kind in the market. This product is very flexible with customizable coverage levels, payment terms, and the option to cover an individual or the whole family. As an introductory offer, Singlife will extend the cover by adding a free COVID-19 rider – providing customers protection from both the ongoing pandemic and seasonal worries that they should watch out for themselves and their families. 

Proving to be customer-centric and user-friendly, the application process for Cash for Dengue Costs only takes less than five minutes. Customers can even pay, view, manage, and file claims on their Singlife policies directly in the GCash app. “This innovation is indeed made possible by fully utilizing technology and digital processes to ensure that Filipinos have a seamless and paperless experience, allowing policies to be issued and managed real-time,” shared Sazon.

Initially made available to a limited group of GCash users this September, Singlife’s Cash for Dengue Costs will be made available to all verified GCash users via the GCash Insurance Marketplace later this year along with other Singlife protection products.

“Singlife’s vision for this partnership with GCash is making simple yet meaningful health and income protection products available to all Filipinos. This is why we are also preparing to release a full suite of products in the coming months so that the rest of the Philippine population can have no-fuss protection, helping them take better control of their financial lives in an easy, quick, and affordable manner,” concluded Hermans.

About Singlife Philippines 

Singlife Philippines is a majority-owned subsidiary of Singlife (65%) with partners Di-Firm (20%) and Aboitiz Equity Ventures (15%). Singlife believes it can unlock the potential of money for everyone by offering innovative tools & solutions that put people in control of their finances and make them financially confident. 

About GCash 

GCash is the country’s leading mobile wallet in the Philippines with more than 25M users, over 73,000 partner merchants, and thousands of cash in / cash out partner institutions. Its mission is to provide Finance for All through #GcashEveryday. The company has done this before through its various services that make payments and sending money easier. Recently, GCash has made their move towards offering users a suite of financial services such as savings, on-demand credit, and investments. Offering insurance is the next step towards this goal.