Insular Life extends grace period further

Insular Life Assurance Co. Ltd. (InLife) extended the grace period for policyholders whose premiums are due from February 15 to May 31, 2020 to 91 days, in line with the global health crisis brought about by the coronavirus disease 2019 (COVID-19).

In a statement, InLife said it extended the grace period from its earlier announced 60 days, and policyholders may do their transactions through the Customer Portal. This includes policy loans, claims, maturities, top-ups, fund withdrawals, fund switching, and premium payment.

"As the country and the whole world are gripped with urgent challenges caused by the COVID-19 pandemic, we strive to respond as quickly as we can to lessen our customers' worries and let them focus on their health and well-being," said InLife president and CEO Mona Lisa dela Cruz.

"Our policyholders do not need to leave their homes and to be able to get their policy benefits because upon their instructions, we can deposit their cash benefits to their nominated bank," she added.

For corporate clients, the company accepts premium payments, as well as requests for claims for death, accident, hospitalization and retirement benefits, process them, and pay out the benefits through the claimant’s bank account.

It can also issue Letters of Authority for the hospitalization of members of Group Hospitalization Insurance policyholders with updated Special Hospital Arrangements. — DVM, GMA News