Cheapest Life Insurance In the Philippines Explained: Philam Life Guardian | EfPrime Financials
Cheapest Life Insurance In the Philippines Explained: Philam Life Guardian | EfPrime Financials
Date Updated: 16 August 2020
In this blog, I will discuss Philam Life's cheapest life insurance called Guardian. Guardian is term insurance. Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy are active, or in force, a death benefit will be paid. 1/ Related: What you need to know about life insurance?
A simple tip, there is no such thing as one size fits all in terms of life insurance. Every person has different protection needs depending on whether you are single, married, or married with kids and of course, depending as to how many people depend on your income.
Summary
Pros and Cons
High Protection for your familyThis insurance is good for Estate PlanningCan be converted to a permanent plan within a year
Low cost of insurance
Renewable every year without proof of insurability until age 85Can earn you PhP200.00/week up to PhP10,400.00 per year thru Philam Vitality
Cons
No investment/No cash surrender value
Amount of Premiums
The cost of the premium is related to the life insurance coverage
that you applied for. The more comprehensive your life insurance coverage is,
the higher is the cost of your insurance.
The good thing about Philam Life Guardian is that you can choose to buy only the
life insurance coverage. You can add Accident and Health Coverage, Accidental
Death Benefit, Waiver of Premium, and Hospitalization Coverage if you
want to have more protection for your family.
Guaranteed Life Insurance Coverage
Accident and Health Coverage
Accidental Death Benefit
Waiver of Premium
Hospitalization Coverage
Philam Vitality
The discounts to partner companies are as follows:
Is this policy for me?
- You just started working;
- Trying to save money in paying for life insurance premiums;
- You are not looking for an investment
- You are short in money/income; and
- Looking to secure your estate.
How to buy this insurance? Click here
Request for Life Insurance Quotation
Conclusion
Book my services as Financial Advisor. Get Free AIA All In One Life Insurance Quotation.
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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.
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