MANILA, Philippines — In a bid to make fuss-free insurance available to more customers, personal finance marketplace Moneymax and digital life insurer Singlife Philippines team up to make financial protection more accessible through the Singlife Plan & Protect App.
The Philippines’ first and only life insurance mobile app, the Singlife Plan & Protect App enables users to build an emergency fund with a high interest account, access a guided financial planning tool, and buy life insurance and investment products that can be customized, all within one app.
Easy access to financial protection
The newly formed partnership is the first of its kind for both digital platforms. For Moneymax, it marks the launch of its life insurance offering in addition to its travel insurance and fire insurance pages, which were launched earlier this year.
“Through our strategic partnership with Singlife, we strengthen our commitment to expanding our offers and increasing awareness of digital insurance in the country. Moneymax and Singlife share the same mission of helping customers find financial products that best match their needs and budget, which is what this partnership is all about,” according to Prashant Aggarwal, CEO of MoneyHero Group, Moneymax’s parent company.
For Singlife, working with Moneymax means leveraging its platform for providing fuss-free financial solutions that in the past were only available through traditional means.
With Singlife Philippines’ insurance solutions, products to protect customers against the risks of high medical costs and income loss—as well as giving access to products to help them grow their savings for achieving their big life goals—are now within reach.
Singlife Philippines is here to show every Juan (and Maria) that they can have financial control. Now, there is a better way to save, plan and protect their financial future.
“Unexpected life events—such as disability or even death of the family breadwinner, or serious illnesses within the family—can drain a lifetime’s worth of savings and even worse, confront families with a high, hard-to-pay-back debt. For the Juans and Marias of today, who work hard and plan to achieve their goals, we want to empower them—with the help of Moneymax—to take control of their hard-earned money. The Singlife Plan & Protect App can guide them through taking proactive steps to make sure they will always have money when they need it,” Singlife Philippines CEO Rien Hermans said.
Shift in financial behavior
The Bangko Sentral ng Pilipinas’ (BSP) 2021 Financial Inclusion Survey Report reveals that more income earners now recognize the need for insurance.
However, 56% said they lack funds for it while 7% said they had not found the right product for their needs yet.
With more customers saving for emergencies and acknowledging the importance of insurance, there is a greater need for them to know their options, including financial tools like the Singlife Plan & Protect App.
This insurance app lets users save for emergencies, plan their financial goals and protect such goals with life insurance, investment and savings solutions.
Editor’s Note: This press release is sponsored by Singlife. It is published by the Advertising Content Team that is independent from our Editorial Newsroom.
for Singlife Philippines