No one can be fully prepared to lose a loved one, and when going through such a deeply emotional and difficult experience, the last thing families should worry about during this period are financial burdens. Funeral expenses often result to a five- to six-figure bill, creating a significant financial strain on families who are already coping with the loss of their loved ones.

Mobile-first life insurance company Singlife Philippines understands this. So they created a new insurance plan: the Cash for Funeral Costs plan, which allows Filipinos to plan for end-of-life expenses with peace of mind.

Singlife’s Cash for Funeral Costs

Singlife’s new insurance plan alleviates the financial burden during a loved one’s passing by providing up to PHP 300,000 cash benefit paid to the insured’s beneficiaries with premiums starting at only PHP 447 per month. This gives families the flexibility to use that money to fulfill their loved ones’ final wishes, or use it for any other unexpected end-of-life expenses so they can focus on grieving and remembrance.

The benefits of Cash for Funeral Costs

Aiming to provide as much ease as possible when making funeral arrangements, the Cash for Funeral Costs plan includes:

1. Meaningful Financial Support: Receive up to PHP 300,000 in cash to cover funeral expenses. Plans start at only PHP 447 per month.
2. Yearly Coverage Boost: Your funeral costs plan gets more valuable over time because your coverage increases yearly at no additional cost*. This can help you cover possible price increases in funeral arrangements.
3. Flexible payment duration: You can choose to pay your monthly installments for 5 or 10 years, and you are covered until 120 years old.
4. Be covered in case of disability: In case you get permanently disabled, all your remaining unpaid premiums will be considered paid but you will still keep your coverage intact.
5. Family Plan: No need to transfer or share plans. With one plan, your spouse or life partner is also covered. We’ll also cover your children for FREE starting in your 2nd year.
6. Immediate Financial Assistance: Upon confirmation of death, we’ll give your beneficiaries immediate funeral cash assistance for urgent funeral expenses. There is also no specific deadline for you to claim; just note that if you have not paid your premium within seven years, Singlife will delete your data and your loved ones would not be able to make a claim.
7. Memorial Care Support: When you pass away, Singlife’s dedicated team will guide your family with arrangements.

*Yearly coverage boost is not guaranteed, subject to market performance.

Who is eligible for Cash for Funeral Costs?

To be eligible for the plan, you should be:

1. 18 to 60 years old
2. a Filipino citizen or a foreigner residing in the Philippines
3. a fully verified GCash user
4. in good health and able to complete Singlife’s health declarations

How do you purchase Cash for Funeral Costs?

It’s easy — all you need is your fully verified GCash account.

Moreover, before you purchase, you also have the opportunity to customize your plan, including picking your preferred funeral arrangements, seeing how much they cost, and getting coverage that’s enough to fulfill those. You can complete this process in under 5 minutes via GInsure on GCash. Just follow these steps:

1. Open your GCash app.
2. Go to GInsure tab.
3. Select Cash for Funeral Costs.
4. Verify your profile.
5. Answer a few questions and provide details for your Cash for Funeral Costs.
6. Review and confirm the details of your purchase.
7. Pay for the initial payment.
8. Wait for your policy to be issued.

You can try Cash for Funeral Costs on GCash yourself.

This article is a press release. Minor edits have been made by the 8List.ph editorial team.