What is Cash for Income Loss (Accidents)?
GInsure in partnership with Singlife offers Cash for Income Loss on Accidents for as low as Php209/year that allows policy owners to get cash to replace income in case of disability or death due to a covered accident. With just a few taps, you can get insured for up to Php3,800,000.
Each Cash for Income Loss (Accidents) plan is tailored fit to the customer’s lifestyle, budget, and needs. It takes into consideration a person’s usual mode of transportation, workplace environment, and monthly take-home income to provide the best possible price for the right amount of coverage. It also comes in Bronze, Silver, and Gold coverage levels with different benefits and annual premiums.
Note: Premium depends on coverage level, take-home income, mode of transportation, occupation type, health status, and medical history.
Package List
Sample Premium Computation
Take-home income: Php 20,000/month
Mode of transportation: Drives own car
Occupation Type: Office worker
What are the qualifications and benefits?
You can buy this if you are:
- 18 to 64 years old
- a fully-verified GCash user
- a Filipino citizen or a foreigner who is a legal resident of the Philippines.
What are the benefits of this product?
Continue to support your family, even after an accident happens.
- Monthly Cash Benefit
Get cash to replace up to 100% of your declared monthly take-home income paid out over 36 months giving your family enough time to recover.
The duration is set automatically to 36 months during purchase. - Cash Bonus
Get a cash bonus equivalent to 2 months of your declared take-home income so your family can bounce back stronger.
What are the accidents covered by this product?
- 100% coverage for:
- Travelling accident on land, air, or sea
- Accidental drowning
- Unprovoked assault
- Fire-related accident
- Accidental suffocation from inhalation of fumes
- 50% coverage for:
- Accident while doing occupation-related task
- Accident while doing high-risk sport or activity
- Accident during acts of terrorism or attacks / warfare
Who can be nominated as my beneficiaries?
You can set at standard order or choose to name beneficiary/ies during purchase.
The standard order is as follows:
- Surviving Legal Spouse;
- Surviving legitimate, illegitimate, legitimated, legally adopted; or
- Surviving parents; or
- Surviving siblings
- Estate
How many insurance policies can I avail from Singlife?
You can buy only one (1) policy of each Cash for Income Loss (Accidents) powered by Singlife. If you need a more comprehensive cover, you may upgrade to the highest coverage level.
Frequently Asked Questions
How can I buy this product?
You can buy this if you are:
- 18 to 64 years old
- a fully-verified GCash user
- a Filipino citizen or a foreigner who is a legal resident of the Philippines
What are the benefits of this product?
Continue to support your family, even after an accident happens.
- Monthly Cash Benefit
Get cash to replace up to 100% of your declared monthly take-home income paid out over 36 months – giving your family enough time to recover.
The duration is set automatically to 36 months during purchase. - Cash Bonus
Get a cash bonus equivalent to 2 months of your declared take-home income so your family can bounce back stronger.
What are the accidents not covered by this product?
- Disability or Death that is not caused by any of the covered accidents under the Standard Accident Coverage and Expanded Accident Coverage.
- Disability or Death that is caused by any illegal or unlawful act, or any attempt to perform any illegal or unlawful act (including any act of terrorism) committed by the insured.
- Disability or Death that is caused by suicide or any attempted suicide, while sane or insane
- Disability or Death that is caused by any intentionally self-inflicted injury.
- Disability or Death that happens while the insured is on duty and serving in the armed forces of any country or international authority, whether in the time of war or peace.
How do I know if my policy has been successfully issued?
Upon completion of the application process, you will see a confirmation page saying your Cash for Income Loss (Accidents) insurance plan has successfully been issued. An e-Policy will also be sent to your registered email address within 24 hours.
When will the policy be issued/delivered?
Singlife will issue an e-Policy within 24 hours after you have completed the application process and payment. It will be sent to your registered e-mail address and will also be available in the Policy Page in the GInsure page inside the GCash app.
How do I pay for my insurance?
Upon initial purchase:
Amount for payment will be automatically deducted from your GCash wallet upon purchase. Please make sure you have enough balance in your GCash wallet to make a successful transaction.
Upon renewal:
Amount for payment will be automatically deducted from your GCash wallet on the premium due date upon. Please make sure you have enough balance in your GCash wallet to keep your policy active.
When can I claim the benefits from my insurance?
You can file for a claim when deemed necessary, as long as it is already after the waiting period.
Waiting period is the 15-day duration from the Effective Date of the Policy before you can make any valid claim to your policy.
The waiting period also applies when you make a change in your benefit coverage. In this instance, the waiting period will start from the effective date of change.
How do I claim the benefits from my insurance?
Please email help@singlife.com or call +632-8299-3737 as filing through the GCash app is still underway.
How long would it take before I receive my benefit?
Benefits for approved claims will be released within 3 to 5 banking days. Payment will be credited directly to your GCash wallet or nominated bank account.
For further assistance or other inquiries on claims, please e-mail at help@singlife.com.