PHILPLANS FIRST, Inc. (PhilPlans) released P6.55 billion in benefits to 51,951 beneficiaries since the start of the coronavirus pandemic last year up to end-March, the pre-need firm said in a statement on Tuesday.

PhilPlans said P4.93 billion of the total was distributed at more than 23,000 recipients under its “Special Cash Programs,” which gave planholders affected by the prolonged crisis financial support without the need to wait for the maturity or scheduled payouts of their plans.

It also released P919 million in benefits to 19,821 education planholders, and P696 million to 9,670 clients with pension and life plans.

The cash programs consist of the CARE program, ECQ Emergency Fund, Education Lump Sum Payment, and Plan Termination Value program.

The pre-need firm has extended its cash programs until the end of June following the recent virus surge and renewed lockdowns.

“The pandemic has already been hard on individuals, families, and businesses. In spite of these challenges, we remain committed to serving our planholders immediately by responding to their needs,” PhilPlans President and CEO Monico V. Jacob was quoted as saying.

“Our Special Cash Programs form part of our commitment to help them not just survive, but even thrive in this crisis,” he added.

Moving forward, PhilPlans Chairman Eusebio H. Tanco said the company is working on putting its products and services online to make these more accessible to clients. — BML