In a speech addressed to the Life Insurance Industry Association, Department of Finance Secretary Ralph Recto emphasized the urgent need to address the low insurance penetration in the Philippines. In line with this, Cebuana Lhuillier eagerly joins Secretary Recto in this mission by leveraging the company’s extensive experience and innovative solutions.

Part of Finance Secretary Recto’s speech promoted microinsurance to ensure the stability of every household without incurring high costs. As a trailblazer in the microfinance industry, Cebuana Lhuillier continues to play a massive role in reinstating itself as a leading microinsurance institution.

Over the years, Cebuana Lhuillier has provided a comprehensive selection of insurance products to millions of Filipinos nationwide. Through innovative microinsurance products like Protectmax, the company has offered comprehensive packages that include life, accident, fire assistance, and emergency medical coverage.

Aside from that, the company also offers Healthmax which allows Filipinos to access HMO coverage for an annual fee of only PHP 3,000, ensuring PHP 150,000 in health benefits. Cebuana Lhuillier has also provided the best value family Personal Accident insurance that has PHP 2.5 million insurance coverage for only PHP 600 a year.

“Our goal at Cebuana Lhuillier is to make affordable insurance in the Philippines accessible to every Filipino, particularly those in the C, D, and E market, who make up the majority of our clientele. We’ve developed insurance plans starting at just PHP 50, ensuring that even the most vulnerable communities can protect their families and their futures. This approach underscores our commitment to financial inclusion and our mission to serve the broader Filipino population with affordable insurance in the Philippines”, says Cebuana Lhuillier President and CEO Jean Henri Lhuillier.

With inclusive and affordable insurance offerings, Cebuana Lhuillier vows to continue their mission for financial inclusion as part of the company’s goal, and as a support to Senator Recto’s vision for the growth of the local microinsurance scene. Therefore, people can only expect to hear more from the company as they plan to expand their insurance product portfolio to cater to more Filipinos.