Motorcycle financing just received a major upgrade in the Philippines. SB Finance recently announced a new partnership with global insurtech provider bolttech and local non-life insurer MAAGAP Insurance Inc. to launch the country’s first bundled loss-of-employment protection designed specifically for motorcycle loan customers.
The announcement was made in Manila and introduces an enhanced version of the company’s MotorsikLOAN program. The new feature aims to help Filipino riders stay financially protected when unexpected life situations like job loss, accidents, or illness happen.
For many Filipinos, motorcycles are more than transportation — they are tools for work, delivery services, and daily commuting. With rising living costs and economic uncertainties, the addition of built-in financial protection adds a safety net for borrowers who rely heavily on their motorcycles.
Here’s everything you need to know about this new financing and insurance bundle.
A First in Philippine Motorcycle Loan Protection
The upgraded MotorsikLOAN program integrates insurance coverage directly into the loan package. This means customers automatically receive protection benefits without needing to purchase a separate insurance plan.
SB Finance, an affiliate of Security Bank Corporation, is positioning this move as part of its broader mission to deliver more value-driven financial products. By combining lending and protection, the company aims to improve loan security for customers while also promoting responsible borrowing.
One of the biggest highlights of the program is that MAAGAP Insurance is currently the only provider authorized by the Insurance Commission to offer involuntary loss-of-employment insurance due to lawful job termination. This makes the offering unique in the local market.
Meanwhile, bolttech plays a crucial role behind the scenes by enabling seamless distribution and claims processing. Their involvement helps ensure customers can easily access insurance benefits when needed.
What Protection Benefits Do Customers Get?
The enhanced MotorsikLOAN program focuses on three key protection areas designed to support borrowers during financial emergencies or medical situations.
The first major feature is involuntary loss-of-employment coverage. If a borrower loses their job due to legitimate and lawful reasons, the insurance will cover one month’s motorcycle loan installment. This benefit is available to employed borrowers who have maintained their job for at least six months.
The second benefit covers accidental death and disablement. In case a borrower suffers permanent disability or passes away due to an accident, the insurance provides financial assistance to help families manage loan obligations and unexpected expenses.
The third protection feature is a daily hospital allowance. Customers can receive PHP 500 per day if they are hospitalized due to illness or accident, helping reduce medical-related financial stress.
Aside from financial coverage, customers also gain access to teleconsultation services. This allows borrowers to seek medical advice remotely, making healthcare support more accessible and convenient.
Why This Matters for Filipino Riders
Motorcycles continue to play a vital role in the Philippine transportation ecosystem. They are widely used not only for personal mobility but also as income-generating tools for delivery riders, freelancers, and small business owners.
However, losing a job or suffering an accident can quickly turn a motorcycle loan into a financial burden. By embedding insurance directly into loan packages, SB Finance aims to reduce the risk of payment defaults while helping borrowers maintain financial stability.
This approach reflects a growing trend in fintech and insurtech where financial services are bundled together to provide holistic customer protection. Instead of treating loans and insurance as separate products, companies are integrating them to deliver better user value.
For Filipino consumers, this means easier access to protection, fewer paperwork requirements, and faster claims processing during emergencies.