Manila: An insurance product focused on covering three critical illnesses, namely cancer, stroke, and heart attack, is now available at an affordable price following its launch Friday. Bank of the Philippine Islands (BPI) and BPI/MS Insurance Corporation (BPI MS) have introduced this coverage to help Filipinos manage the financial impact of these health risks.

According to Philippines News Agency, BPI consumer banking head Maria Cristina Go emphasized the importance of making critical illness insurance accessible. The new product, called BPI Kaya Care, is designed to be affordable, with a minimum annual amount of PHP859 for basic coverage, allowing individuals as young as 18 to purchase it.

Account holders or clients diagnosed at an early stage of the covered illnesses will receive 50 percent of the benefit, while those with late-stage or major diagnoses will receive the full amount. The insurance aims to alleviate the financial burden of medications and therapy, if needed.

Go shared her personal experience with family members who suffered from cancer, highlighting the fear of being unable to afford necessary treatment. She stressed the importance of insurance for peace of mind, allowing families to concentrate on recovery instead of financial concerns.

The coverage under BPI Kaya Care is unique as it does not include these illnesses as additional riders with extra fees, which is common with some insurance firms, but rather offers them as the sole coverage.