When planning or trying to save money for our future self and family, we often think of investments and businesses but most of us do not consider insurance as one of these.
Securing a saved money doesn’t have to be expensive, Country Bankers Insurance Group (CBIG) recently conducted a conference recently as part of their 53rd anniversary celebration at Casino Español in Kalaw, Manila, to inform every Filipino low income earners, seniors, small and medium entrepreneurs (SMEs), non-government organizations and countryside folks that there are a plan and place for them to have a secure future.
An estimated of 30 insurance companies were actively operating in the Philippines, CBIG, a local insurance group that made their humble beginnings and served mostly the rural areas in the country, we’re proud to be consistently appearing within the boundaries of that top list.
CBIG, which started on March 28, 1965 was formerly called Country Bankers Life Insurance Corporation (CBLIC) wherein Jose E. Desiderio, Sr. was the founding president.
It aimed then to address the insurance of countryside folks, prioritizing mainly the SMEs, farmers, fishermen and public school teachers, who were considered to be the less priority market during that time.
It has been the Desiderio family’s legacy to make the insurance be accessible to low-income Filipinos and now, it has been passed to its third generation with Ms. Geraldine Desiderio-Garcia as the present Senior Vice President and General Manager.
Meanwhile, CBLIC still exists as one of the two subsidiaries of CBIG, Country Bankers Insurance Corporation (CBIC) was also included in the subsidiary as the one which handles all the non-life insurance products.
For 53 years, CBIG continues to expand a wide array of insurance plans that are not only wise and important but also provides the practical support for the plan holders in time of need.
According to Senior Vice President and General Manager Desiderio-Garcia, one of the strengths of the insurance company is to be always in good standing when it comes to the payment of claims. It was not only consistent but also prompt and fast because it knows that the client’s needs will always be the priority.
This list includes all the products of CBIG for both Life and Non-Life:
Country Bankers Life Insurance Corporation Plans
- Classic Benefit – a lifetime protection with single premium or 3, 5, 7 and 10 years to pay options. 100% death benefit with accumulating cash value starting on the 2nd year of the plan for an individual up to age 96.
- Golden Classic Benefit – Lifetime protection payable in 3 years with 100% death benefit and also accumulates cash values starting in the 2nd year for an individual up to 100 years of age.
- Cash Benefit Ipon – Salary Savings Insurance protection for employees, payable in five years via salary deduction.
Classic Benefit Kalinga – the most comprehensive family insurance program designed for a group of 500 or more members, borrowers, depositors or savers of an MFI, rural or thrift banks, cooperatives and NGOs engaged in microfinance.
Alalay Sa Buhay (ASB) – Provides renewable one-year insurance to individuals 13 to 70 years old for only 365 Pesos with natural and accidental death benefits. ASB is also available for families and seniors, with ASB family being renewable up to age 70 for principal insured and covers up to 3 to 5 family members for only 750 Pesos for one unit. ASB for seniors covers individuals ages 71 to 80 and offers insurance for one year for only 1,000 Pesos per unit.
CBLIC also has other individual and group term plans like Creditor’s Group Life, Mortgage Redemption Insurance, and Renewable Term Annual Insurance products.
Country Bankers Insurance Corporation Plans (Non-Life)
- Fire Insurance – covers property against fire and lightning damages.
- Motor Vehicle Insurance – covers vehicles against loss (includes theft) or damage due to the accident.
- Scheduled Property Floater – covers movable equipment and property against loss or damage.
- Personal Accident – a 24 hour, all risk accident insurance, anywhere in the world, on or off the job, at home or away, at play, while traveling in public or private conveyances (land and sea travel) and during commercial airline flights.
- Money Securities and Payroll – covers against robbery or forcible taking of monies, securities and payroll monies inside or outside the bank’s premises.
- Comprehensive General Liability – covers business against its legal liability and third parties arising from any hazards in the conduct of business activities.
- Engineering Lines Insurance Products like the Contractor’s All Risk, Erection All Risk and Electronic Equipment Insurance.
Marine Cargo – covers cargo or movable property against marine hazards and other perils during transportation from one location to another.
- Surety Bonds – guarantees the obligation of the principal in favor of the obligee. An instrument of guarantee that will secure compliance and performance of an obligation or undertaking required by law or contract.
- Fidelity Bonds – Guarantees the honesty of an employee or officer charged with the custody and handling of funds and property of his or her employer.
Desiderio-Garcia said that even though the CBIG was mostly known in NCR for their non-life insurance products, she assured Filipinos that the company was a trusted name in the countryside especially among all the low-income earners.
She also mentioned that the most victims of the typhoon Haiyan (Yolanda) who lost their properties and life were actually Country Bankers plan holders and the calamity has brought them the welcomed opportunity to help the other victims as well.
“I want our company to be known as a ‘company with a heart’ and a company that can be relied upon to deliver its commitment. We will continue to deliver what we promise to give,” said Garcia.
The promised statement was approved by comedy concert queen Aiai Delas Alas, who was also present at the event.
During the conference, the television actress who was also a plan holder of Country Bankers gave her testimonials and said that she even bought insurance plans for her loyal fans, and some have benefitted already.
CBIG truly continues its total commitment to providing for the insurance needs of all Filipino individual.