10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Family Provider | EfPrime Financials

 

Philam Life's Family Provider| EfPrime Financials 

Date Updated: 

Summary

Here are the things that will be discussed:  

Pros and Cons 

Life Insurance Coverage 

Comprehensive Accident Coverage 

Investment for Retirement 

Critical Illness Coverage

Health Fund for your Future Health Care needs 

Waiver of Premium 

Philam Vitality 

Is this policy for me? 

How to buy this insurance? Click here

Conclusion 

 

Pros and Cons 

Pros

Short term pay only 

You are protecting your family while preparing for your future needs; 

Can be your retirement fund 

You are insured as long as you have investment balance

Maximized the use of your hard-earned income 

Comes with PhP200.00/week or P10,400.00 per year plus coverage boost

You will enjoy peace of mind 

You have withdrawable investment in case there comes an emergency 

Cons

No hospitalization coverage 

High minimum amount of Premium

Watsons

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                           P750,000.00

Health and Accident Coverage                 P750,000.00

Health Fund for HealthCare                      P750,000.00

Waiver of Premium                                     Yes 

Hospitalization Coverage                                              

Daily Hospital Income  Benefit                  No

Long term hospital benefit                         No

Intensive Care Unit benefit                        No

Outpatient Treatment Benefit                    No

The total cost of insurance is P53,483.32 per year or P4,460.43 per month. You can opt to reduce the amount of insurance by reducing the protection that you enjoy to a minimum. 

You will be insured up to age 100 as long as the Family Provider has an investment balance. 

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 

Health Fund for your Future Health Care needs

The amount of investment will be considered as your health fund. The table below reflects the amount of investment when an investor adds a regular top-up to his/her investment. Top-up is additional investment of PhP10,000.00 per year. 

Investing with top-up will have a greater return to your money as the time go by due to capital appreciation. 

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. 

Waiver of Premium 

If in case the insured suffered a critical illness, then the policy is considered fully paid already. 

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 looking to invest in a short term payment period of ten (10) years, then do invest in Philam Family Provider. It offers high returns depending on your risk tolerance and budget. 

You'll be able to have an investing account at the same time, you will be motivated to do physical activity hence you will Iive a healthier, longer, better lives. 

How to buy this insurance? Click Here

Request for Life Insurance Quotation

Simplified Video Presentation 

Conclusion

Family Provider is one of my bestsellers. Buy this if you have excess liquidity since it is only payable in a short period of 10 years. 

With this life insurance policy, you will be able to live longer, healthier, and better lives. 

Check out All my Products and Free Services

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 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

Source: Philam Life Ipos