PHILAM LIFE'S FAMILY SECURE

Family secure is regular pay unit link life insurance plan the provides high insurance coverage which can be converted into a retirement plan when the client gets older.

Paying period is up to age 99 but can be shortened by the help of a financial adviser. Isuance age is from 0-70 years old and the owner must be atleast 18 years old.

For as low as 44 php a day or 16,000php per annum one can enjoy a coverage up to 95x his annual premium depending on the age of the client. 

It has to premium band

Band 1

From 16,000 to 29,999

Band2 

From 30,000 to depending on the capacity to pay. 

Option to increase the face amount up to 150% of the original face amount starting on the 2nd year.

Provides protection bonus everytime the client pays his premium on time.

Provide 5 gurranteed face amount increases for  key life events.

It has a dialing down option

Option to decrease the coverage upto 50% from the original face amount starting on the 11th year which ever comes later.

It has top ups ranging from regular top ups, special top ups and ad hoc top ups. For as low as 1000php one can infuse an additional investment.

Top up up to 5x your annual premium for band 1 and capacity to pay for band 2.

It has coverage protector the client will enjoy continous coverage for the first 10 years regardless of the performance of your fund (when your account value is insuficient to pay for all the charges). 

* pay the premium on time, make top ups if any

* no withdrawal made

*no recquest for the increase of coverage

Can make premium holidays

Get 4 free fund switches in a year on the 5th fund switches youll be charge by 1% of the total top up.

You can attach riders for comprehensive coverage from accident and health, waiver of premium or waiver of premium plus, medisave for medical reimbursement to name a few.

Your funds are invested in PAMI

Philams bond fund

Philams balance fund

Philams strategic fund

Family secure is ideal for bread winner who wants to have peace of mind were ever he is and for those people who are planning to have there own family. When your kids are financially secure its time to care of your self your retirement fund will be your at most priority with family secure your coverage will decrease but setting aside more funda for your investment.

Ask me how feel free to talk to me. Now is the best time to get one. USAP TAYO? ANUNG PLANO MO?

Classifications of life insurance policies

Classification of life insurance policies

According to nature

Policies are differentiated based on the nature of benefits offered

Temporary policies:

Offers only protection or death benefit over a limited period of time.

Permanent policies:

Offers death and living benefits within the insured's lifetime. Living benefits maybe in the form of dividends, anticipated endownments, disability,policy load or non-forfeiture options.

According to coverage

Policies are differentiated based on the number of persons enjoying protection under a specific policy:

Individual life: covers the life of a single person

Joint life: covers the life of two or more persons. Under this policy the first death which occurs among the lives covered effectively terminates the policy

Group: covers the lives of group of people

According to participation in divisble surplus

Policies are differentiated based on dividend entitlements

Participating: entitles the policy owners to recieve dividends which are sourced from the surplus earnings of the insurance company, subject to approval of its board of directors

Non-participating: does not share dividends

According to line business

Policies are differentiated based on the market segments to which a policy caters to

Ordinary: caters to the middle and upper income-earners, premiums of these policies are payable on an annual, semin annual,quarterly basis

Industrial: caters to low income earners. Premiums of thes policies are payable on a monthly,weekly,or daily basis

Group: caters to the insurance needs of employee groups,union,and the like the premiums of which are generally deducted from the salaries of employees or co shared by the employer.

Unit link plans

Now a days getting a life insurance is a must both protection and savings. Life insurance can be use as protection at the same time offer investment it acts as a savings. With the introduction of unit link plans or ulp owning a insurance is not that expensive. With ulp clients have direct controls on there policy. They have the freedom to choose were to allocate there funds depending on there risk tolerance. The returns are not guranteed depending on the performance of fund. With ULP your savings can be invested to different basket of stocks, to bonds and other investment instruments. Unit link plans offer protection and investment in one it gives you a minimum coverage for your protection and it has account values that acts as your investment and have term payments and has a holiday premium features,loyalty bonus to name a few and whats more is you can add to your investment for a minimal top up of 1000php. One can start for as low as 20000php per annum. The coverage varies depending on the product you choose there atr unit link plans that offer greater protection at a minimal cost while there are unit link plans that have protection but more on investments. You can use your earning on your investment to plan your trip, for educational fund,buy your dream house or for your retirement. Now is the time get one.