10 Things to Know About AIA All in One of Philam Life Insurance: Most Comprehensive Life Insurance in Makati, Philippines - EfPrime Financials
All in One Philam Life Insurance policy is one of the cheapest and most comprehensive permanent Philam Life life insurance policies available in the market today.
Here are some of its most important inclusions:
- Life insurance coverage;
- Maturity Benefit;
- Personal Accident coverage;
- Total Permanent Disability;
- 10 Critical Illness coverage;
- Waiver of Premium;
- Cost of Insurance
- Philam Vitality;
- Terms of Payment; and
- Cash Surrender Value.
How to buy this insurance? Click here.
 |
| Photo Credits: Canva.com |
Life insurance coverage
If the unexpected death of the insured happens, then the face amount of life insurance will be given to the beneficiaries.
Maturity Benefit
The Face Amount of the Philam Life Insurance will be given to the person insured if he/she reaches the age of 100.
Personal Accident coverage
If the Insured gets into unfortunate events on an accident that results in loss of life, a cash benefit equivalent to the face amount of the Philam Life Insurance will be given to the beneficiaries.
Dismemberment or loss of use of various parts of the Insured's body will result in payment of Philam Life Insurance of a percentage corresponding to the body part/s that is/are lost.
If the accident happens while riding a ticketed Public Transportation or due to Natural Disaster, an additional 100% of the Personal Accident Coverage will be provided to the beneficiary.
Example: Insured has a PhP1Mn AIA All in One Insurance and has unfortunately died while riding a Taxi. What now is the receivable of the family as an insurance benefit?
Here is the computation:
AIA All in One Life Cover P1,000,000.00
Personal Accident Cover P1,000,000.00
100% Additional P1,000,000.00
Total Benefit P3,000,000.00
Note that the 100% Additional Coverage is a result of the Insured's death due to ticketed public transportation.
Total Permanent Disability
If the Insured gets total and permanently disabled, a cash benefit equal to the coverage will be provided for the Insured to replace his lost income.
10 Critical Illness coverage
If Insured is diagnosed with any of the covered Critical Illnesses, cash benefit will be given equivalent to the Face amount of the insurance. The covered illnesses include:
- Cancer;
- Coma;
- End-Stage Lung Disease;
- Hearth Attack;
- HIV due to Blood Transfusion and Occupationally Acquired HIV;
- Kidney Failure;
- Liver Cirrhosis;
- Stroke;
- Terminal Illness; and
- Vital Organ transplant.
As you can see, the critical illnesses brought about by Covid-19 virus are covered by Philam Life AIA All in One Life Insurance policy. These are heart attack, end-stage lung disease, kidney failure, stroke, and terminal illness.
Cost of Insurance
The cost of insurance is affected by the following:
- Age of the insured
- The younger you purchase your life insurance, the cheaper is the cost of insurance
- Nature of work
- The nature of the work of an individual is affected by the nature of his/her work. The riskier the work of a person is, the higher is the cost of insurance
- Physical Health of the Insured
- The healthier the person is, the cheaper is the cost of insurance. Hence, it is advised that you buy your insurance at earliest possible time to get cheaper life insurance quotations.
Waiver of Premium
If the Insured gets total and permanent disability or gets diagnosed with the 10 critical illnesses, then Philam Life Insurance will waive the future payments of your premiums. As if your AIA All in One is already paid in full. You will enjoy continued coverage.
Philam Vitality
AIA All in One is powered by Philam Vitality hence you are entitled to the following outright benefits:
- Additional Coverage
- Get an additional upfront coverage boost of 20% on your life insurance benefit, total permanent disability, personal accident and critical illness at the start of your policy by just adding Philam Vitality. Additional coverage can range from 0 to 50% depending on the Insured's Philam Vitality status at the end of the year.
- PhP200.00 Cash Rewards or it's equivalent every week
- Rewards of PhP200.00 every week or a total of PhP10,400.00 per annum if you do physical exercise. You'll get rewarded PhP200.00 upon initial use of the application. Your rewards include: PhP200.00 Grab Riders per weeks or PhP200.00 Globe/Smart/TM or PhP200.00 SM Cinema or PhP200.00 Cofee Bean Tea Leaf or PhP200.00 g-cash or PhP200.00 Robinsons grocery
- Discounts to partner companies
- The discounts to partner companies are as follows:
Terms of Payment
The terms of payment may either be 10 years or 20 years to pay. I advise my clients to purchase longer paying life insurance because it can save them money. Read this article, enumeration number 4.
Cash Surrender Value
Cash surrender value is the amount of money an insured can get from his/her life insurance policy if he/she decided to terminate his/her AIA All in One Life Insurance policy. By getting the cash surrender value, you are terminating your contract with Philam Life, hence, you will not be insured anymore. In effect, you are withdrawing what you paid for in the life insurance vehicle.
If you will try to analyze, you are protecting your family from your untimely demise and other life's risks and at the same time, you can withdraw the same as cash surrender value. It is like saving your money in a bank but with additives to make it healthier.
An example of a life insurance quotation is as follows:
Actual Video Presentation of AIA All in One
Conclusion
This insurance is very cheap, very comprehensive, and has high protection coverage for every life's risks there is. This life insurance is advisable as protection product for an individual who has just started working. This is also an ideal addition to your existing Life Insurances since there is no single life insurance that has all the ingredients of a complete package life insurance.
You can never go wrong in protecting the future of your family! Start your first life insurance policy now.
How to buy this insurance? Click here.
Request for Life Insurance Quotation
Book my services as Financial Advisor. Get Free AIA All In One Life Insurance Quotation.
If you think that the contents of this article helped you in any way. I would appreciate it if you can comment and share my blog with your social media pages especially to your friends, family, and colleagues. Thank you.
You can reach me out in the following social media:
Linked-in: Efraim Osingat, CPA, MBA, RFP
FB Page: Financial Literacy Evolution
Website: efprimefinancials.com
Youtube: EfPrime Financials
All Rights Reserved.
Disclaimer
The Author is advising readers to consult with your respective Financial Advisors before venturing in any investments. Investing your money is dependent to your goals and your risk tolerance. You should know the risks and rewards of investing before you actually do the same. The illustrations above are for educational purposes only and any risks or losses that you may incur are imputable to your respective decisions.
The author does not in any way provide a guaranty as to the effectiveness and quality of the products and services that are featured in this blog. The products and services were advertised based on personal experience and product and service reviews that the product/service received.
Want to receive more?
Subscribe to my newsletter and I’ll send you the things that we’ll both love. Just put your information and you’ll be all set. And as always, feel free to unsubscribe or adjust the frequency of mailings.
Subscribe to our Newsletter: Sign up Here
Sources: Philam Life Insurance - Ipos
Comments
Post a Comment