The country’s largest life insurance company, Philam Life, in partnership with Bankers Assurance Corp. (BAC), a member of the Malayan Group of Insurance Companies, recently launched the

Pinoy Assist OFW (overseas Filipino worker) Insurance plan that allows manpower recruitment agencies to provide comprehensive insurance protection to their clients going overseas.

“We have been empowering Filipinos for 65 years, and if there is any group that needs to be empowered now more than ever, they are our OFWs,” Rex Mendoza, president and chief executive of Philam Life said.

“OFWs are exposed to numerous risks abroad. Even more, they are our new heroes—mga bagong bayani—and thus we should provide them with the best possible insurance coverage,” he added. For his part, BAC Chairman Antonio Rubin explained that the initiative between two of the largest players in the insurance industry is designed to give greater peace of mind and confidence to OFWs.

“The trust, stability, and reliability of our companies make Pinoy Assist OFW insurance a product that our overseas Filipino people can really count on during times of risks and emergencies in the course of their employment,” he said.

Rubin added that Pinoy Assist will help enable OFW recruitment agencies enhance their compliance with Republic Act 10022, or the Migrant Workers and Overseas Filipino Act.

He said that through Pinoy Assist, duly licensed private recruitment agencies will provide life and accidental insurance coverage to all hired workers who are duly registered with the Philippine Overseas Employement Administration.

OFWs can get $15,000 (or its peso equivalent) worth of accidental-death benefit and $10,000 (or its peso equivalent) worth of natural-death benefit. In case of permanent and total disability arising from an accident, illness or natural causes, the insured OFW will get $7,500 (or its peso equivalent).

The insurance protection is effective for the duration of the insured migrant worker’s employment contract.

In addition, Pinoy Assist gives emergency assistance packages as provided under RA 10022, including Subsistence Benefits and Legitimate Monetary Claims Benefit. Qualified OFWs can file their claims directly to BAC or to the preferred Pinoy Assist agent.

BAC added that once all required documents are in order, it shall settle the claim within 10 working days.