With the physical and financial disaster brought on by the recent eruption of Taal Volcano in Batangas, Pru Life UK is extending the grace period of premium payments from the standard 30 days to 90 days for policyholders living in severely affected areas.
“We aim to help speed up the recovery and rebuilding of lives of our fellow Filipinos during times of hardship, such as facing the abrupt effects causedby natural calamities. We believe this measure will help themprioritize their needsand manage their finances better,” shared Pru Life UK Chief Customer Marketing Officer Allan Tumbaga.
The extended grace period applies to policies withpremium payment due dates between January 1, 2020 and March 31, 2020, and topolicyowners residing in the following municipalities and cities within Taal’s 14-km danger zone: Batangas-Mataas na Kahoy, Nasugbu, San Jose, San Luis, San Nicolas, San Pascual, Santa Teresita, Santo Tomas, Taal, Talisay, Tanauan City,Tuy, Agoncillo, Alitagtag, Balayan, Balete, Bauan, Calaca, Cuenca, Laurel, Lemery, Lian, Lipa, and Malvar; Cavite -Mendez, Silang, Tagaytay, Alfonso, Amadeo, and Indang; and Laguna – Calamba.
All payments made within the grace period will be accepted with no interest charges.
Established in 1996, Pru Life UK is the pioneer of insuravest, or investment-linked life insurance products, in the Philippines and is one of the first life insurance companies approved to distribute US dollar-denominated investment-linked life insurance policies in the country.