10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Moneyworks - Long Term | EfPrime Financials

 

Philam Life's Moneyworks - Long Term | EfPrime Financials 

Date Updated: 23 August 2020 



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 
Hospitalization Coverage
Philam Vitality 
Is this policy for me? 
How to buy this insurance? Click here
Conclusion 




Pros and Cons 

Pros
10 year pay or more 
High earning potential
You are insured up to age 100 as long as you have investment balance
Maximized the use of your hard-earned incom 
Low cost of insurance 
Comes with PhP200.00/week or P10,400.00 per year plus coverage boost
You have withdrawable investment that can be your health fund or retirement fund


Cons
Lower coverages or protection compared to other Philam Life insurances  


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                           P500,000.00
Term Insurance                                         P250,000.00
Health and Accident Coverage                 P550,000.00
Health Fund for HealthCare                      P500,000.00
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 P39,423.47 per year or P3,285.29 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. 

Health Fund for your Future Health Care needs 

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                                              
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

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 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. 

How to buy this insurance? Click Here


Request for Life Insurance Quotation


Philam Life Presentation 

 

Conclusion

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. 

 



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.

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 


Comments

Post a Comment

Popular posts from this blog

10 Things to Know About Philam Life Life Insurance Policy called Active Critical Protect (ACP) 100 in the Philippines | EfPrime Financials

Image
People often buy life insurance for retirement and wealth generation. Often, they don't realize the value of having a critical illness protection plan until the time that they are being diagnosed with the illness.  Photo from Pexels.com Note that as the years pass by, the age of people who are being diagnosed with a critical illness are getting younger in age. I hope this blog will help you realize the importance of critical illness protection.  Source: Screen Shot from Facebook - for educational purposes only Let me discuss with you this Philam Life Insurance that is one of the bestsellers of Philam Life Insurance as we shift in promoting protection over VUL Life Insurance.  The 10 Things that you should know about Philam Life ACP 100 are as follows:  Major Critical Illness or Life Insurance Benefit - covered until age 100 Minor Critical Illness Benefit - covered until age 100  Gender Specific Cancer Benefit - covered until age 100 Recovery Benefit  Philam Vitality  Cash Rewards a
Read more

10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Moneyworks - 5 Year Pay | EfPrime Financials

Image
   Philam Life's Moneyworks - 5 Year pay | EfPrime Financials  Date Updated: 23 August 2020  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  Hospitalization Coverage Philam Vitality  Is this policy for me?  How to buy this insurance?  Click here Conclusion  Pros and Cons  Pros 5 year pay  High earning potential You are insured up to age 100 as long as you have investment balance Maximized the use of your hard-earned income Low cost of insurance  Comes with PhP200.00/week or P10,400.00 per year plus coverage boost You have withdrawable investment that can be your health fund or retirement fund Cons Lower coverages or protection compared to other Philam Life insurances   Shopee Life insurance Coverage  If death should happen to the person of the ensured, the beneficiaries are entities to the
Read more

Complete Guide to Owning Life Insurance in the Philippines | EfPrime Financials

Image
These are what you need to know about Philam Life Insurance. I hope you'll find what you are looking for here. If there are things that you want to be included or you have a question, kindly comment below, we will include it in our summary sheet later on. This will be updated with links from time to time. Attend to Our One Hour Online Seminar on How to Maximize Your Hard-Earned Income.  All About the Author My Services  All About Philam Life Insurance  This will make you choose Philam Life as an investment partner What You Need to Know About Life Insurance? Why invest in life insurance? I mportance of having Life Insurance with Updated Premium Payments - EfPrime Financials Tips to save in your Life Insurance Premiums The Effect of Elimination Period in Life Insurance Life Insurance is More Important than Emergency Fund   Why Medical Frontliners Need a Life Insurance What are the critical illnesses covered by Phillam Life Insurance? Covid-19 illnesses are covered VUL vs. Stock Mark
Read more

How to Pay your Philam Life Insurance Online via Gcash App - EfPrime Financials

Image
Photo Credits:  Canva.com *** I have gift for you down below. If you register to use G-cash, you will be given PhP70.00 in freebies This blog will make you solve your question as to how you can pay your Philam Life Life Insurance thru Gcash app. Before discussing that, let me first say to you the advantages of having an online payment platform such as Gcash. The advantages of having a G-cash online payment platform are the following:  Ease of paying bills;  None exposure to Covid-19 virus;  Focus in more important task first; and  You can do it anytime.  View my comprehensive explanation about online payment and the online behavior of Filipinos in today's trying times. Start Trading Online! Claim $50 if you invest a minimum of $200.00 Here are the steps in paying Philamlife Life Insurance via the Gcash app:  Step 1: Register by signing up for your Gcash application. If you already have a Gcash application, then open it up.  Source: G-Cash Screen Shot  Step 2: Fund your Gcash amou
Read more

10 Things to Know About VUL Life Insurance In the Philippines: Philam Life's Active Health and Invest Plus | EfPrime Financials

Image
Philam Life's Active Health and Invest Plus | 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  Hospitalization Coverage Philam Vitality  Is this policy for me?  How to buy this insurance?  Click here Conclusion  Concept of Investing Explained Investing is a process in which an investor entrusts his/her hard-earned income into an investment platform for a particular period of time to earn additional income and to recover as well the amount of principal investment.  Investing in a VUL Life insurance is likewise the same as investing in the stock market. However, VUL investment enjoys diversification, meaning, the investment platforms that a VUL insurance uses i.e. PAMI Philam Bond Fund, PAMI Philam Fund, PAMI Philam Strategic Growth Fund, and PAMI Philam Equ
Read more

10 Things to Know About AIA All in One of Philam Life Insurance: Most Comprehensive Life Insurance in Makati, Philippines - EfPrime Financials

Image
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 giv
Read more

How to Buy Philamlife Life Insurance in Three Steps - Efprime Financials

Image
The procedure for buying Philamlife life insurance is very easy. It can be summarized in three (3) easy steps:                                                       Source: Philam Life Insurance  Step 1: Sign up for a virtual meeting The best thing about buying Philamlife Insurance is that you need not physically meet with your Philamlife Financial Advisor just to buy life insurance. You can buy life insurance within the comfort of your homes.  You can choose to meet with your Philamlife Financial Advisor at any of these online meeting platforms. These are some of the virtual meeting platforms that you can utilize. Microsoft Teams, zoom, googlemeet, messenger and skype. All of these platforms are free and downloadable to your googleplay and apple store.                                                                        Source: internet  Step 2: Share details to a Financial Advisor  Remember: "Your policy is a plan for yourself and your family. Make sure that when
Read more

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

Image
  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 entitie
Read more

What is the best life insurance policy to have? | EfPrime Finance

Image
What is the best life insurance policy to have? | EfPrime Finance  The decision about what type of life insurance policy to buy is an important one. You should know the options out there and what your specific needs are to determine which type of policy is best for you. In this blog post we will go over the factors that contribute to buying a particular type of policy, as well as discuss some general advice on how to figure out if you need it or not. Factors to Consider There are many different types of life insurance policies available for purchase. A policy is simply a contract between a person and an insurance company which states that the company will pay out a specific sum of money to certain individuals upon the death of the person in question. As you might have guessed, life insurance costs money, but it is generally inexpensive enough that everyone should consider having some sort of policy. The cost is small when compared to what it could do for you (and your beneficiaries) if
Read more

Know these Five (5) Tips to Save on your Life Insurance Premium | EfPrime Finance

Image
Know these Five (5) Tips to Save on your Life Insurance Premium | EfPrime Finance    When you’re considering life insurance, there are a lot of different factors to consider. There is no one-size-fits all approach when it comes to this type of coverage, so in some cases you may need more than one type of policy. The key is to assess your particular situation and then take appropriate action. This article will go through 5 important tips on what you need to know about life insurance and how it can protect your family’s future.   1. Understand How Much Coverage You Will Need One of the first things you will need to do is to figure out how much coverage you will need for your situation. One way that can help you do this, is to consider how much it would cost for your family to be able to continue their same lifestyle if you were no longer around and they had no income. For example, this includes looking at things like mortgage or rent payments, what bills would need to be paid (such as ut
Read more