CLARK FREEPORT – One of the oldest insurance companies in the Philippines is giving its clients unique products that no other insurance company is offering.
Insular Life presented its distinct products in a forum at the “Balitaan” organized by the Capampangan in Media, Inc. in cooperation with the Clark Development Corp. at the Bale Balita here on Friday.
Carlito V. Lucas, Insular Life first vice president and head of corporate sales division, said Insular Life is now the envy of the industry because it is the only company that offers the Solid Fund Builder (SFB), a single paying investment product that gives an opportunity to build up fund faster by beating inflation and is a lot easier.
He said it also provides life insurance to protect your love ones from risks of financial loss.
“It gives you an opportunity for faster fund growth,” he added.
“We have diff erent fund options. In fact, our funds right now is one of the best performing funds in the industry,” Lucas stated.
“If you will look at our equity fund since its inception, it has grown by as much as 376 percent,” he pointed out.
Lucas explained that with a minimum single premium of just a onetime P100,000 and a minimum regular top up of P3,000 per month; you are already on your way to getting your first million on the 13th year.
“These are the product features of our Solid Fund Builder,” he said.
Lucas explained that automatically, if something happens to the policy holder, the amount to be generated by the beneficiary is already 125 percent of the amount that he put in and that is P125,000 already.
“If you place your money today and the following day something happens to you, automatic the P125,000 is already guaranteed,” he assured.
“This is how we illustrate it. Every time that you put in money, there is already fund accumulation. Insular LIfe guarantees 125 percent,” he said.
Lucas said Insular Life also offers the single premium product called Wealth Builder. He said the one-time fund is being off ered at a minimum of P200,000.
“The fund is invested in one of our equities,” he said.
Another product is the “Peso Global Equity Fund” which gives out seven percent per annum which is higher compared to the banks.
“So, if you put in a single premium, 125 percent of the fund is already guaranteed,” he said.
Retirement
Then there is the Comprehensive Group Plans (CGP). “Other corporations are not familiar with it but it is a way to prepare for the retirement of their employees, Lucas said.
“We are the only one who has this product among the many insurance companies,” he said. “But we are here not to rival the banks but to provide other options,” he added.
Lucas explained that CGP is a two-in-one product. It has a built-in life insurance covering all employees and then the portion of the investment of the corporation will go to retirement fund management or site fund which will earn a guaranteed net interest.
It also has a plus upside potential which means that if the actual market yield is higher than what Insular Life guaranteed, your money will earn more, which is the effect of the upside potential, he explained.
CGP is a retirement fund management and life insurance protection, Lucas said, which is open to companies to prepare for the retirement of its employees.
For companies, If they want sure investment, they can use this as the funding vehicle, he pointed out.
Lucas said CGP has become more relevant especially after the passage of RA 7641 otherwise known as the Philippine Retirement Pay Law which makes it mandatory for companies to give retirement pay to their employees.
Insular Life is off ering another basket of benefits with the CGP, he said.
Meanwhile, aside from corporate-account administrators, individual members who are enrolled in the group policy can now also access their own account, view details of their insurance coverage, update their individual information, as well as their beneficiaries and/or dependents and download servicing forms. They can also receive and send out communications to Insular Life using their central mailbox.
The portal is also mobile responsive, which means users may access their account details using their smart phones, tablets or laptops.
Also present at the forum were Insular Life’s Joy M. Gonzales, assistant vice president, regional head for Central Luzon Gerry Catamas who also made a presentation, Archie Francisco corporate sales team leader, Karen L. Plata, assistant manager PR staff and Sherwin.
