Life insurance utilizes the principle of risk-sharing and the “law of large numbers” to make possible the payment of large amount of life insurance death benefits to beneficiaries compared to actual premiums(cost) paid. To create more assets for heirs. The concept is to channel part of savings from bank accounts to pay for life insurance premiums an amount that could purchase the largest amount of coverage for beneficiary death benefit.
Life insurance augment savings in banks by parents/income providers; Upon death of the income earner, life insurance funds are paid directly to designated beneficiaries, free of estate taxes and free and free of the hassles legal processes.
Limited Pay Whole Life Plans
– Two(2) Pay Life, Participating
– Five(5) Pay Life, Participating
– Ten(10) Pay Life, Non-Participating
Wealth Creation Funds
Bread winners want to efficiently allocate the use of their surplus income and liquid assets to maximize their asset-value growth for the benefit of heirs.
-to create additional wealth/assets with minimal risks and effort,while satisfying their present day today cash needs.,
Wealth Conservation Funds
Upon the demise of the an estate owner,heirs will have to pay the BIR estate-transfer taxes up to 19% of the taxable estate’s value in order to gain ownership of the deceased estate.
Wealth Equalization Fund
Assets that parents want to be queath to their children are unequal in value,creating inequities in asset-sharing and distribution
Limited pay life plans provide lifetime insurance protection, and the shortest paying period of only 2, 5 or 10 years. After 2, 5 or 10 years, the policy becomes fully paid-up and life insurance coverage continues for life.
Guaranteed cash values accumulate during the insured’s lifetime.These may be availed of thru a policy loan for any cash needs. The amount of coverage, net of any policy loan, plus accumulated dividends will be paid to the insured’s designated beneficiaries in case the insured dies by natural or accidental causes. The 2/5 Pay plans share in the company’s divisible surplus income and are credited with annual dividends after the 1st or 2nd year, which may be left with the company to accumulate. Dividends are not guaranteed.
– 1 to 70 years old(age as of the nearest birthday)
– 56 and above are required to undergo the medical exam
– Minor member who is covered by the plan
– 0 to 17 years old
– Payor should be 18-62 years old
Minimum amount of coverage:
Maximum amount of coverage:
– Depending on the financial Underwriting
Riders that can be attached
– Waiver of Premium due to Disability(WPD)
– Accidental Death Benefit(ADB)
– Special Accident Rider(SAR)
• For 2PL & 5PL only
– Special Accident Rider with Disability Indemnity(SARDI)
• For 2PL & 5PL only
– Hospital Income Benefit(HIB)
– Payor’s Clause(PC)