10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Family Secure | EfPrime Financials
Philam Life's Family Secure | EfPrime Financials
Date Updated: 23 Augst 2020
Summary
Here are the things that will be discussed:
Pros and Cons
Pros
Regular Pay (Pay to age 100)
High protection coverage
With Upfront Discount of 10%. Discount may increase up to 20% per year
Cheapest VUL of Philam Life
You are insured as long as you have investment balance
High income potential if with Top-Up
Comes with PhP200.00/week or P10,400.00 per year plus coverage boost
You have withdrawable investment in case there comes an emergency
Cons
Slow in growth of money if without Top-Up. Top-up is recomended for this product
Regular Pay (Pay to age 100)
High protection coverage
With Upfront Discount of 10%. Discount may increase up to 20% per year
Cheapest VUL of Philam Life
You are insured as long as you have investment balance
High income potential if with Top-Up
Comes with PhP200.00/week or P10,400.00 per year plus coverage boost
You have withdrawable investment in case there comes an emergency
Slow in growth of money if without Top-Up. Top-up is recomended for this product
Life insurance Coverage
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 P1,520,000.00Health and Accident Coverage P1,620,000.00Health Fund for HealthCare P1,520,000.00Waiver of Premium Yes Hospitalization Coverage Daily Hospital Income Benefit P2,000.00/dayLong term hospital benefit P2,000.00/dayIntensive Care Unit benefit P4,000.00/dayOutpatient Treatment Benefit P1,000.00/day
The total cost of insurance is P43,051.21 per year or P3,590.39 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
The table below shows the level of income if life insurance has top-up and without top-up. 
The table above shows that the income of a policy that has top-up is greater as compared when the investment has no top-up. I suggest that when investing in Family Secure, employ top-up.
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.
Health Fund for your Future Health Care needs
You can build a greater amount of Health Fund if you do a simple technique i.e. top-up. Compare this table with the above and you will realize that you are earning bigger with this simple methodology of investing more money. 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
Philam Vitality
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 any of the following, this policy is for you;
Many dependents
Many obligations, utang, mortgages and loans
Many real property investments;
Looking for high coverages and investment returns
How to buy this insurance? Click Here
Request for Life Insurance Quotation
Conclusion
I personally endorse this life insurance if you want to have high life insurance coverage. The high life insurance coverage is supplemented by high earning potential if the insurance is with top-up.
Book my services as Financial Advisor.
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 with your friends, family, and colleagues. Thank you.
You can reach me out on the following social media:
Linked-in: Efraim Osingat, CPA, MBA, RFP
FB Page: Financial Literacy Evolution
FB Group: Philam Life Insurance, Local/Global Stock Market and Mutual Funds
Website: beacons.ai/efprimefinance
Youtube: EfPrime Finance
I personally endorse this life insurance if you want to have high life insurance coverage. The high life insurance coverage is supplemented by high earning potential if the insurance is with top-up.
Book my services as Financial Advisor.
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 with your friends, family, and colleagues. Thank you.
You can reach me out on the following social media:
Linked-in: Efraim Osingat, CPA, MBA, RFP
FB Page: Financial Literacy Evolution
FB Group: Philam Life Insurance, Local/Global Stock Market and Mutual Funds
Website: beacons.ai/efprimefinance
Youtube: EfPrime Finance
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 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.
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Source: Philam Life Ipos
Source: Philam Life Ipos
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