Insurance for OFWs by BDO Kabayan Savings Account

Nowadays, there are a lot of life insurance that comes along with the agent asking for your free time to promote their policy as well as elaborate on why there is a need for us to have life insurance while we were young and able to have one. Of course who wouldn't want to secure an insurance that can cater the life and death of our beloved when uncertainties happen? 

We do not want to burden our family so to have a peace of mind, if you have the right amount of money, an excess from your daily budget, it is fitting to have an insurance policy that can accommodate your priorities. But since we are still on the go of prioritizing our home loan, we are lucky enough to have our BDO Kabayan Savings account that offers FREE life and accident insurance for OFW as well.

Who's qualified? (From BDO website)

Remitters, 18-65 years old and currently employed, may qualify for Free Life and Accident Insurance through BDO Kabayan Savings Account.

Enroll your BDO Kabayan Savings Account in Free Life and Accident Insurance if the account is under the name of the remitter or the remitter's spouse, child, parent or sibling.

Requirements: 

Each enrolled BDO Kabayan Savings Account must meet the following requirements in the last 12 months:

a. At least six (6) remittance transactions

b. Average Daily Balance (ADB) of at least PHP25,000 (maintained in your account), which is easy to maintain when you save through your BDO Kabayan Savings Account

The enrolled remitter is covered by insurance for every month above requirements are met. You will received an email if you qualify for the insurance.

The insured amount is 50% of ADB plus 50% of total remittances in the last 12 months not exceeding PHP1M per enrolled remitter.

Plus, if you have a BDO Kabayan Savings Account you also get to have a BDO Rewards card wherein you can earn points that can be converted into cash for every remittance or loans that you pay through BDO Bank.