PhilamLife is the number one life insurance company in the Philippines in terms of net worth and total assets as of the calendar year 2019. It is a provider of insurance, investments, and business policies. It has been in operation in the Philippines for more than 70 years.
In this blog, I'll share why you should choose Philam Life as a business partner.
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1. Ease of Application
Philam Life is the market leader in the Insurance Industry in the Philippines. Financial Advisors (FA) use iPod to close sales transactions even without physical meetings. Today, as the enhanced community quarantine is implemented in the country, FAs of Philam Life can still provide a financial product to their respective front liners and non-front liner clients in just three (3) steps.
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2. Non-medical Requirement
You will not be required to check your medical condition in your application unless you have previous pre-existing complications in the last five (5) years.
3. Easy Approval
The industry standard for the approval of a life insurance application is usually 7-14 days. For Philam Life Insurance, in some instances that client applications are without any issue, it may be approved as fast as one day after payment of the required premium.
4. Eplan Access
You will have e-plan access to check the level of your investments. You can change some information via your e-plan.
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5. Early Stage Critical Illness
You will have coverage for the early stage of critical illness, meaning you will have a better chance to cure any covered critical illness. In some insurance companies, their coverage for critical illnesses is given only after the insured is diagnosed with a critical illness. Hence, the chance of curing illness is low.
Coverage of critical illness is often not given importance by persons applying for insurance, but if you analyze the current trends, more people are suffering from critical illnesses as time goes by. If you choose a life without critical illness protection, it may destroy the budget of the family in the future.
The following are the ESCI:
- Carcinoma-in- situ (CIS of covered organs
- early-stage malignancy
- Cerebral shunt insertion
- Endovascular Treatment for cerebral aneurysm
- Minimally invasive direct coronary artery bypass
- Less severe heart disease
- Less severe kidney disease
- Less invasive treatments of heart valve disease
- Major organ transplantation (on waiting list)
- Surgical removal of pituitary tumor
- Liver surgery
6. Philam Vitality
Here is why you will gonna love Philam Life more than your boyfriend. You will have Philam Vitality with the following perks:
- Coverage boost to some of our Variable Unit Linked (VUL) Plans;
- Premium discount to Family Secure product; and
- Rewards of PhP200.00 every week or a total of PhP10,400.00 per annum if you do physical exercise. You'll get rewarded PhP200.00 upon initial use of the application. Your rewards include: PhP200.00 Grab Riders per weeks or PhP200.00 Globe/Smart/TM or PhP200.00 SM Cinema or PhP200.00 Cofee Bean Tea Leaf or PhP200.00 g-cash or PhP200.00 Robinsons grocery; and
- Discounts with partner companies:
7. Tax Free
When investing in insurance, you are investing in a tax-free investment vehicle. You can grow money out of insurance.
8. Philam Life is the Market Leader in the Philippines
Interpreting and analyzing the Net Worth alone i.e. Assets less Liabilities, for 2018, it provides you confidence that Philam Life can still exist even after all the life insurance companies have turned sour in their respective operations. Philam Life leads them all.
For 2019, Philamlife is number one in terms of Net Worth and Total assets with PhP87Bn and PhP290Bn respectively. It came second as to Net Income with PhP7.6Bn.
Investment in life insurance is the basic level of investment that every Filipino family must-have. By having life insurance you are addressing all the barriers to your goals i.e. untimely death, accidents, critical illnesses, hospitalization and even having no money during the retirement period while making money that is withdrawable in times of future emergencies. Hence, you maximize your income.
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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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