Tonik, the trailblazing digital bank in the Philippines, is thrilled to announce its newest strategic partnership with prominent life insurance company Sun Life Grepa Financial, Inc. This transformative collaboration aims to enhance the financial well-being of the companies’ valued customers by introducing Payhinga, an inclusive bundle service designed to offer customers financial security in the face of life’s uncertainties.
Payhinga: An Inclusive Bundle Service
Payhinga is an innovative credit life and disability insurance product that will complement Tonik’s existing loan offerings. This comprehensive bundle service provides customers with the peace of mind that comes with comprehensive coverage, ensuring their financial security in the event of unexpected events. With Payhinga, Tonik aims to address the growing need for reliable insurance products that cater to the financial needs of its customers.
Complementing Tonik’s Loan Offerings
As Tonik continues to expand its digital banking services, the introduction of Payhinga adds a new dimension to its loan offerings. Customers applying for loans through Tonik will now have access to Payhinga, allowing them to combine their loan and insurance needs into a convenient and cost-effective package. This integration simplifies the process for customers, eliminating the need to seek separate insurance coverage for their loan obligations.
Coverage and Benefits of Payhinga
With Payhinga, Tonik customers will have access to life and disability insurance coverage of up to 120% of their loan amount. This comprehensive coverage ensures that customers and their families are protected in the event of unforeseen circumstances such as illness, disability, or even death. By offering such extensive coverage, Payhinga provides financial stability and peace of mind during challenging times.
Expansion of Tonik’s Product Suite
The partnership with Sun Life Grepa is a significant milestone for Tonik as it expands its suite of products. Insurance has been a highly requested addition from Tonik’s customers, and Payhinga fulfills that demand. This collaboration enables Tonik to provide its customers with a holistic range of financial services, catering to their diverse needs and empowering them to achieve their financial goals.
Fulfilling Sun Life Grepa’s Mission
Richard S. Lim, President of Sun Life Grepa, echoed the sentiments of Tonik, stating, “The partnership with Tonik will enable us to reach a broader client base and fulfill our mission of delivering insurance protection to the underserved.” Through this partnership, Sun Life Grepa can leverage Tonik’s digital banking platform to extend its insurance offerings to a wider customer base, ensuring accessibility and inclusion for all.
Importance of Reliable and Affordable Services
In today’s ever-changing landscape, access to reliable and affordable banking, financial services, and insurance is essential. The partnership between Tonik and Sun Life Grepa highlights their commitment to meeting the evolving needs of customers. By continuously innovating and expanding their offerings, these financial institutions aim to provide customers with enhanced services that promote financial security and overall well-being.
The Value of Payhinga and Two-in-One Solutions
The introduction of products like Payhinga represents a significant step forward, offering customers a two-in-one solution that combines loan access with comprehensive insurance coverage in a convenient and cost-effective package. Payhinga eliminates the hassle of sourcing separate insurance coverage by seamlessly integrating it into the loan application process. This innovative approach ensures that customers have access to the financial protection they need while simplifying their banking experience.
The strategic partnership between Tonik and Sun Life Grepa brings forth a groundbreaking offering in the form of Payhinga, an inclusive bundle service that combines Tonik’s digital banking services with Sun Life Grepa’s insurance expertise. This collaboration empowers customers by providing enhanced financial security and accessibility to comprehensive coverage. As Tonik and Sun Life Grepa continue to prioritize customer needs through innovation and collaboration, they are poised to make a lasting impact on the financial well-being of individuals and families in the Philippines.