This blog is solely for Philam Life Insurance. Future articles will deal with matters relating to life insurance, investment and business insurances. As Philam Life's Financial Advisor, I share the company's vision of spreading financial literacy to Filipino families.
This blog will help all Philam Life Insurance stake holders.
10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Moneyworks - 5 Year Pay | EfPrime Financials
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Philam Life's Moneyworks - 5 Year pay | EfPrime Financials
If death should happen to the person of the ensured, the beneficiaries are entities to the face amount of the life insurance coverage or the account value (investment) whichever is higher.
Let me show you a sample computation for a single person age 30 years of age.
Life Insurance Coverage P1,300,000.00
Term Insurance P650,000.00
Health and Accident Coverage P1,300,000.00
Health Fund for HealthCare P650,000.00
Waiver of Premium Yes
Hospitalization Coverage
Daily Hospital Income Benefit P2,000.00/day
Long term hospital benefit P2,000.00/day
Intensive Care Unit benefit P4,000.00/day
Outpatient Treatment Benefit P1,000.00/day
The total cost of insurance is P233,715.76 per year or P19,491.81 per month. You can opt to reduce the amount of insurance by reducing the protection that you enjoy.
By not reducing the said cost of insurance and investment, you will learn later on that what you pay for will also go to your personal investment account. You are protecting your family at the same time as you are protecting your self. Computation is based on a 10% rate of return
As you can see, protektado mo na ang mga mahal mo sa buhay, meron ka pang kumikitang investment. This can be your retirement fund if you successfully finished paying for your life insurance policy. #Sanaoil
Comprehensive Accident Coverage
You are protected against unnecessary expenses caused by accidents. If in case you were involved in an accident, you will get your accident insurance overage. If the accident becomes the cause of death, the insured's beneficiary will get accident insurance coverage plus the amount of life insurance.
Critical illness coverage
The insured is covered against 11 early stages of critical illnesses and 56 critical illnesses. Yes, the complications that can be brought about by COVID 19 such as kidney problems, stroke, heart attack, terminal illness, end-stage lung disease are all included and covered under this life insurance.
You can build a greater amount of Health Fund or Investment Fund or educational fund if you do a simple technique i.e. top-up of PhP10,000 per year. You will realize that the level of investment grows bigger as compared to the investment without top-up. Computation is based on a 10% rate of return.
Waiver of Premium
If in case the insured suffered a critical illness, then the policy is considered fully paid already.
Hospitalization Coverage
This rider is paid to the ensured if in case he/she, unfortunately, is confined in the hospital. Hospitalization Coverage
This financial product is why Philam Life leads the market. With this technology, you can convert your physical exercise into PhP200.00 cash reward or its equivalent. Further, Philam Vitality can boost your investment and life insurance coverage by up to 50%. Related: What is Philam Vitality?
Is this policy for me?
If you are looking to invest in life insurance that has the highest rate of return, then, choose this life insurance policy. This policy can be an educational fund of your kids or maybe your health fund for your future use or maybe your retirement fund.
I personally endorse this life insurance if you are looking to grow your hard-earned income. This is one of the best life insurance present in the industry because of its ability to give returns.
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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.
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