AF Payments, Inc., (AFPI) the company behind stored-value or “beep” cards, announced on Monday that it now provides personal insurance coverage to its cardholders.
“As we continuously work to deliver a convenient and reliable payment system, we want to empower our customers to maximize the benefits that come with their beep™ card,” said Sharon Fong, chief commercial officer of AF Payments, in a press release.
AFPI said that it partnered with Malayan Insurance Co., Inc. to provide personal insurance coverage to its cardholders.
The company said that qualified customers are entitled to P10,000 in life insurance coverage for death due to an accident.
“P10,000 benefit for total permanent disablement from an accident, up to P10,000 benefit for dismemberment and/or disablement from an accident, and P2,000 burial expense benefit following an accidental death,” AFPI said.
To qualify, AFPI said that customers must register their beep card in the beep mobile application from Sept. 5 to Dec. 5, “only one card per account is eligible for the free insurance.”
However, AFPI said that new beep cards will not qualify for the promo, even if registered in an existing mobile application.
“Coverage is valid for 1 month from the date of registration. Customers will receive their proof of cover, including details on how to claim benefits, in their registered e-mail address,” AFPI said. — Ashley Erika O. Jose
