BPI unveils insurance program for freelancers

MANILA, Philippines —  Ayala-led Bank of the Philippine Islands (BPI) has introduced a new insurance plan aimed at providing protection for individuals engaged in non-traditional and freelance work arrangements.

In partnership with BPI Mitsui Sumitomo (MS), BPI Freelancer provides an accident protection plan specifically designed to meet the needs of freelancers, consultants, remote workers and self-employed individuals.

BPI MS Insurance president and CEO Noriyuki Kobayashi said the new insurance reflects the company’s deep understanding of the needs of the modern Philippine job industry and BPI’s commitment to help Filipinos succeed.

“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,” Kobayashi said.

The plan offers key benefits such as lump-sum cash assistance for accidental death or permanent disability, whether work-related or not, and a daily cash allowance of P1,000 for up to 10 days of hospitalization from accidents or covered illnesses.

It also includes P20,000 in utility bill assistance during recovery or loss, along with motorcycle accident coverage that applies to both riders and passengers.

“BPI Freelancer addresses this gap by offering flexible and accessible protection tailored to the unique needs of the freelance and self-employed community,” the company said in a statement.

BPI Freelancer is positioned as an affordable protection plan, offering three coverage tiers to suit varying lifestyles and budgets, which are the basic plan at P499 per year, the prime plan at P699 and the elite plan at P1,099.

The company’s head of consumer banking, Maria Cristina Go, said the product gives freelancers and self-employed workers the confidence to seize opportunities, assured that they and their families are protected.

“With nearly 13 million freelancers shaping our economy, we are proud to introduce an insurance product designed specifically for the modern Filipino freelancer, a reliable safety net and trusted partner to help them pursue their passions with confidence and peace of mind,” she said.