People’s bank budgets for sudden financial needs


THE People’s Micro Bank Limited (PMBL) can now help their members cater for unforeseen financial needs arising from deaths in their families, chief executive Anthony Dela Cruz says.
PMBL, a subsidiary of the National Development Bank, signed an agreement with Trans Pacific Assurance Limited (TPAL) and launched the Bel Isi accidental death insurance protection cover yesterday.
Cruz said TPAL was the authorised agent to develop and introduce the new financial protection to cater for financial needs of families arising from the sudden loss of loved ones.
“This insurance premium cover is now available and we are offering it right across the country for people to access through our branches,” he said.
TPAL managing director Christopher Giddings said “one of the reasons we develop the product in joint partnership was because in the times of needs, when you suffered the loss of a love one, a lot of pressure is put on people for money”.
Giddings said the product was part of the agreement signed with PMBL to offer other products.

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