Sun Life Grepa offers credit card protection product

MANILA, Philippines — The Credit Card Association of the Philippines (CCAP) said while nearly seven million credit cards were issued to over three million cardholders in the country in 2015, this number is expected to grow exponentially in the next few years as more Filipinos embrace the ease that electronic payments offer.

“Filipinos are now embracing the convenience of an electronic payments system. And with the growing presence of online shopping channels, anyone with a credit card can easily purchase products and services from anywhere in the world,” said Joen Songco, vice president for affinity marketing of Sun Life Grepa Financial Inc.

However, along with the convenience credit cards provide also comes the danger of fraud and identity theft. A global fraud study conducted in 2016 by universal payments company ACI Worldwide showed that nearly one in three credit card users have been victims of credit card fraud.

In line with this, Sun Life Grepa, one of the top life insurance companies in the country, has partnered with the country’s leading non-life insurance company, Malayan Insurance, to offer Card Guard Plus. This comprehensive credit card protection product bundles Sun Life Grepa’s Life and Accident Insurance with Malayan’s Lost/Stolen Card Protection, Online Internet Fraud Protection, Purchase Protection and Travel Insurance. Card Guard Plus also includes Multi Card Protection which allows a cardholder to cover up to three credit cards by just paying one monthly premium.

“Securing a person’s financial future lies in our ability to provide protection wherever they are in life,” said Songco. “With the growing acceptance of digital payment technologies, we want to assure our clients that we are there for them to help provide financial protection.”

For as low as P4 per day or P120 per month, credit card owners can get peace of mind whether they are online or offline.

Visit www.sunlifegrepa.com to learn more about Card Guard Plus, or call (632) 866-6360 to 61 for more information.