This free insurance will waive pending loan balance in case of sudden customer demise or accident-related permanent disability, and provide resources to recover from medical emergencies.
Life and health emergencies can strike unexpectedly. For many Filipinos, sudden medical expenses or unexpected urgent costs can quickly lead to financial distress. Hospitalization and medical costs often result in heavy debt, while the lack of insurance leaves families with limited options to recover financially.
“Oftentimes, Filipinos don’t think of insurance until it’s too late,”
said Tony Isidro, President and CEO of Fuse Financing Inc., the lending arm of GCash.
“With the free insurance, we’re making sure that every time someone gets a GLoan, they also get a safety net. It’s our way of helping users feel more secure and protected without them having to spend extra.”
By integrating protection into GLoan, GCash—through Fuse and GInsure, the digital insurance platform of GCash with inclusive insurance products across 11 categories including health, life, accident, travel, vehicle, and more —offers borrowers added peace of mind and a safety net against life’s uncertainties.
Under GLoan Protect, the free health insurance covers a hospitalization allowance given to all eligible users who avail of a GLoan worth a minimum amount of P500 moving forward. Users can claim a minimum of PHP 500 or up to 10% of the total loan value when they get confined in the hospital for a minimum stay of 3 days.
The loan insurance benefit is automatically activated once a customer receives their loan proceeds from GLoan, and coverage remains constant and valid until the end of the loan term even when the customer fully pays off their loan earlier than the loan’s due date. In case of customer demise or accident-related permanent disability, beneficiaries will receive the remaining loan value, and the remaining balance will be waived and settled.
The policy will automatically appear in the GInsure dashboard, making the process simple and familiar for borrowers. Claims can be filed through the same steps used for other GInsure products.
“We see this synergy between Fuse and GInsure as part of our mission to reimagine what finance can do for every Filipino,”
said Winsley Bangit, Group Head of New Businesses at Mynt, the parent company of GCash.
“By combining credit and insurance on a single service, we’re pushing the boundaries of digital innovation to give Filipinos not just access to funding, but also the protection they deserve. It’s another step toward building a more inclusive and resilient financial ecosystem.”
GCash made this initiative possible in partnership with Oona Insurance Corporation, a wholly-owned company by Oona Philippines Holdings Corporation (OPHC), actively expanding into health and digital-first solutions that meet the needs of today’s consumers. Through this partnership, GCash is bringing essential protection to more Filipinos by integrating coverage directly into its widely used digital services.
"Our mission at Oona is to make protection part of everyday life, not something out of reach. Partnering with Fuse and GCash shows how insurance can be embedded seamlessly into the financial services people already use, from borrowing to everyday transactions. By making coverage automatic and effortless, we take an important step toward closing the protection gap and ensuring more Filipinos have the security to move forward with confidence.”
said Abhishek Bhatia, Founder and CEO of Oona Insurance.
This added benefit strengthens GLoan’s role as more than just a lending option. It becomes a tool that provides quick access to funds and supports Filipinos in building resilience against emergencies.
“This is about giving our users peace of mind,”
Isidro said.
“When someone takes out a loan, they’re usually thinking about solving an immediate need. By adding free insurance, we’re also helping them prepare for the unexpected. It’s a small change that can make a big difference in protecting families from unforeseen circumstances,”
Isidro concluded.
Through this enhanced offering, GCash continues to push its mission of financial inclusion — ensuring more Filipinos have access to services that can improve their financial security in both the short and long term.
GLoan Protect is now available to new GLoan transactions for a limited time starting on January 16 until March 31, 2025. Borrowers should be Filipino citizens, aged 21-65, fully-verified GCash users with a minimum loan approved and disbursed amount of PHP 500, and at least one month loan tenor.
For more information about GLoan and its free insurance benefit, please visit https://help.gcash.com.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
