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  • How Can I Benefit from Life Insurance While I’m Alive?

    03 November 2017


    d.	How Can I Benefit From Life Insurance While I Am Alive?

    Contrary to popular belief, life insurance is not just for your dependents. It’s also for you. As a policyholder, you are entitled to enjoy its benefits while you are still alive and kicking.

    Nowadays, a life insurance provides both insurance and investment opportunities, which means that aside from risk protection, it is also an asset that can serve as an additional source of finance.

    Here are the different ways your life insurance can benefit you while you are still living.

    Dividend Payments

    Although the dividend amounts are not guaranteed, most life insurance companies pay a dividend from the investment portion of your insurance premium. Often, policies with guaranteed dividends have higher premiums compared to those with no guaranteed dividends.

    To make use of your policy dividends, you can choose to receive a check from the insurance provider, use it for additional insurance coverage or offset the cost of future premiums. 

    Policy Loan

    The premium you pay for every year accumulates into a valuable asset similar to your other investments. You can borrow money against this cash value asset any time you need to.

    Whether you need the cash to purchase a home, invest in a business, handle a financial emergency, or supplement your retirement income, you can tap into the cash value of your insurance policy.

    Retirement Fund

    You cannot guarantee that your pension will be enough to maintain your lifestyle when you reach retirement. Using the cash value of your policy, you are assured that you have additional financial support once you retire.

    Go on vacation. Travel. Visit your relatives abroad. Do the things you’ve always wanted to do. Cross off things on your bucket list. Your retirement should be all about you!

    Dismemberment and Disablement Benefit

    Disability often cripples the family’s funds with all the medical bills and loss of income. Should you experience an accident or critical illness that will render you disabled or dismembered, your life insurance policy will protect you and your family with available funds that can help you cope with your new situation.

    Hospital Income Benefit

    Healthcare can be very expensive in the Philippines. Whether you have health benefits provided by your company, chances are, it won’t be enough to cover your hospital confinement costs and income loss during the time of your hospitalization.

    A comprehensive life insurance policy can give you cash reimbursement for each day that you’re hospitalized. You can use this amount to cover medical bills or replace your lost income. Either way, you have extra cash during the time you’re in the hospital.

    Critical and Terminal Illness Benefit

    When a critical or terminal illness is diagnosed, families often tap into their savings to cover all the medical expenses and treatments necessary to extend life.

    With a life insurance policy, you don’t have to worry about where to get the funds for your treatment. If your diagnosed illness is in the specific list of critical and terminal diseases, then your insurance will cover a specific amount depending on your life insurance policy. 

    Rewards and Discounts

    Life insurance policies nowadays can include rewards and discounts. Certain insurance companies are affiliated with other businesses and establishments that offer privileges for policy holders.

    A perfect example would be the BPI-Philam Wellness Series. It is a range of insurance products powered by Philam Vitality, a health and wellness program that rewards its policy holders for leading a healthy and active lifestyle. It offers discounts and rewards from partner establishments such as Marriot Hotel, Makati Medical Center, Enchanted Kingdom, Toby’s Sports, Gold’s Gym, SM Cinema, and more.

    Life insurance plans are structured to protect you from unforeseen events, help you achieve financial stability, and improve your life. Drop by any of the 800 BPI branches nationwide and talk to a Bancassurance Sales Executive about life insurance and how it can benefit you while you’re alive.

    Did you know?

    You can buy a life insurance at any BPI branch nationwide! Talk to a bancassurance sales executive now!

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    RECOMMENDED PRODUCTS

    Life Ready Plus

    Protection

    Get the power to protect yourself and your family with an affordable life insurance plan. Life Ready Plus is easy on the budget, but offers coverage of up to 30 times your yearly payment to support the financial needs of your loved ones.

    The plan gives you fast access to coverage and benefits and can match your long-term financial goals when maintained within an appropriate term.

    Philam Life Vitality

    Build Estate Plus

    Life Protection

    Let your loved ones enjoy the fruits of your labor even when you’re no longer around. Build Estate Plus is a unit-linked protection plan that will cover your estate taxes after your passing so that you can ease your family’s burden.

    It doubles as an investment savings fund that builds Account Value as you pay. It is also integrated with Philam Vitality that provides additional upfront coverage of 20% to your policy and add-ons.

    Philam Life Vitality

    CRITICAL CARE PLUS

    Health

    Be in good hands in times of sickness. Let Critical Care Plus, a unit-linked health and life insurance plan, take care of you with financial aid in case of a major illness, so you can focus on getting better and spending more time with your loved ones.

     

    It even gives you more benefits for having good health through the Philam Vitality program that adds 20% upfront coverage and supplemental benefits on your policy. 

     

     

    Philam Life Vitality

    Critical Care Max

    Health

    Critical Care Max will help you make more memories by providing financial aid during the early stages of a critical illness. This unit-linked life and health insurance plan offers assistance on your recovery. You can build a health fund that grows over time, depending on your chosen investment, to pay for other medical costs.

     

    In addition, it comes with a hospital confinement benefit that will replace lost income due to hospitalization. This daily cash benefit may also come with optional benefits like cash payout for surgery-related expenses, allowance for consultation fees, and many others.

    Philam Life Vitality
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    15th Floor BPI-Philam Life Makati
    Ayala Avenue, Makati City 1226

    CONTACT BPI-PHILAM

    (632)  5285501

     

    1-800-188-89100 (Toll Free)

     

    15th Floor BPI-Philam Life Makati
    Ayala Avenue, Makati City 1226

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