Security Bank unit ties up with FWD Life

MANILA, Philippines — The financing arm of Security Bank Corp. has partnered with FWD Life Insurance to provide group life insurance as voluntary add-on to applicants of personal loans.

SB Finance Corp. president and CEO Abbie Casanova signed the partnership agreement with FWD Life president Li Hao Zhuang and FWD chief partnership officer Irene Andas to offer group credit life Insurance as a voluntary add-on to applicants of the SB Finance personal loan.

The insurance offers a minimum coverage from P10,000 to P2 million, providing borrowers of SB Finance with financial security and protection whenever they take out a loan – as this will cover the loan balance of the borrower in the event of death or total and permanent disability.

“We’re happy to partner with FWD Life Insurance to provide our clients with services that protect them from unforeseen events. The integration of the Group Credit Life insurance into our product allows them to protect themselves and their families while having access to funds that can improve their way of living,” Casanova said.

The Group Credit Life Insurance costs P4.32 per P1,000 loan amount and is open to borrowers from 21 to 70 years old.

Zhuang said FWD is honored to be the insurer of choice of SB Finance in safeguarding the loans of clients from unforeseen events such as deaths and accidents.

“FWD enables people to celebrate living, and through this partnership with SB Finance we can help more Filipinos from all walks of life reach for their goals and achieve financial independence,” Zhuang said.

In 2017, Security Bank embarked on a strategic collaboration with FWD Life Insurance to provide the bank’s clients with top-notch insurance services tailored to their evolving needs.

SB Finance is a partnership between Security Bank and Thailand’s Bank of Ayudhya (Krungsri). This partnership is a result of Security Bank and MUFG’s goal to expand global partnerships while growing local talent and expertise.