19 September 2024, Manila, Philippines – 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.