MANILA, Philippines — The Insurance Commission (IC) has urged insurance companies, mutual benefit associations (MBAs) and health maintenance organizations (HMOs) to provide coverage to clients infected with the coronavirus disease 2019 (COVID-19).
At the same time, the agency urged the firms to provide assistance to their sales agents earning on commission basis.
In a circular, IC commissioner Dennis Funa encouraged all IC-regulated entities to provide relief to sales agents for the duration of the nationwide state of emergency caused by the virus outbreak.
Funa noted that sales agents who earn on commission basis are among the most vulnerable during this crisis as their means of livelihood have been adversely affected.
Funa said regulated entities should also extend the coverage of their policies and agreements to cover COVID-19 and any related conditions.
Funa also asked insurers, MBAs and HMOs to waive provisions in their respective contracts and agreements, such as waiting periods and healthcare access to non-affiliated networks, among others.
The IC chief said this request was made considering that these provisions may become barriers to health care access and treatment.
He, however, clarified that implementation of this request is on a voluntary basis to be decided upon by each company on the basis of their respective financial standing.
Some local insurers have assured Filipinos that there are existing policies that can provide them financial coverage if they are infected by COVID-19.
InLife said those who own the I-Heal plan, Premium Protect Series (InLife Premium Protect 1000, InLife Premium Protect, and InLife Premium Protect Plus) or any individual insurance plans with hospitalization riders may avail of its daily cash benefit feature in case of confinement due to the virus.
Manulife likewise said it would honor claims made for the treatment of covered illnesses, including those that may arise from a COVID-19 infection.
In addition, Allianz PNB Life Insurance Inc. said its Allianz Well! product offers full medical treatment, hospitalization, and even evacuation to the nearest medical facility to those who have confirmed diagnosis of the disease.