FWD Life Insurance (FWD Philippines) is introducing The One for mental wellbeing, an innovative new insurance plan that helps address mental health concerns among Filipinos—just in time for Self-Care Awareness Month in September and National Mental Health Month in October.
The One for mental wellbeing offers a one-year customizable plan with life protection for people who seek better self-care. It also includes coverage for accidental death and critical illnesses, including cerebral aneurysm, chronic lung disease, and cancer, which can be associated to individuals who face mental health challenges.
Policyholders can have full-year access to the ThoughtFull mobile app, where they can engage in unlimited mental wellness coaching and therapy sessions with certified mental health professionals through audio or text message, and up to three (3) one-on-one live video therapy sessions for up to an hour each.
This new product launch aligns with a recently conducted mental health survey from FWD, which included more than 10,000 people across 16 international markets. Asian respondents from the survey were found more likely to do self-help than seek outside assistance, with only 34% preferring to discuss their issues openly with others. 40% of Asian respondents cited the cost of treatment as the biggest barrier for them to seek external help for their mental health. However, 76% expressed openness to exploring insurance options to circumvent this issue.
“As the insurer of the next generation, we are committed to providing innovative solutions that address the evolving needs of the Filipinos,” shared FWD Chief Marketing and Digital Business Officer, Roche Vandenberghe. “It is critical, now more than ever, to make mental health resources more accessible and affordable so that more people can take a step towards bettering themselves and addressing their personal challenges—both confidently and confidentially.”
The One for mental wellbeing is one of the new and first-in-the-market products that make up FWD’s celebrate living series as part of its 1Ox anniversary. This series also includes previously introduced unique and affordable insurance plans like The One for gamers and The One for music lovers. All bespoke products are designed to celebrate passion points and priorities of the next generation and provide coverage for critical illnesses related to each lifestyle.
Filipinos can now start their self-care journey by taking a free online mental health assessment through the FWD Mind Strength website. Visit the FWD Online Shop to purchase The One for mental wellbeing in minutes with no medical assessment required, and premium starting at just P330 per year.
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FWD Philippines is regulated by the Philippines Insurance Commission and is legally permitted to provide insurance products and services within the country.
About FWD Philippines
FWD Life Insurance Corporation (FWD Philippines) launched its commercial operations in September 2014. Currently, FWD Philippines is number one in customer experience among insurers in the country1. In just 10 years, FWD Philippines now ranks 3rd and 4th in terms of new business annual premium equivalent2 and premium income3, respectively.
FWD Philippines is part of FWD Group, a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD Group was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.
For more information, please visit fwd.com.ph.
1 Based on KPMG’s Global Customer Experience Excellence Report 2023
2 www.insurance.gov.ph > Data > Statistics > Life Insurance Companies > 2023 > Based on New Business Annual Premium Equivalent
3 www.insurance.gov.ph > Data > Statistics > Life Insurance Companies > 2023 > Based on Premium Income
Want to get in touch?
Reach FWD here, or visit us at our Head Office.
Contact the Insurance Commission Philippines here.
