With increasing tuition fees and extended years of basic education, having an education savings plan has become ever more important. Parents who decided all those years ago to invest in a Philam Life education plan for their children are now reaping the fruits of their wise decision.
In May of 2016, 50,000 young scholars received their education payouts for the first semester of SY 2016-2017. This second semester, Philam Life has again released over 51,000 education benefit payouts. Most of the benefit payouts were made through CTA (credit to account) as part of the company’s “ease of doing business” drive to ensure policyholders receive their benefit payments in a fast and convenient manner.
“Providing the best education for their loved ones continues to be a key priority among Filipinos. Nothing is more important and more fulfilling for parents than to see their children finish school,” said Philam Life CEO Aibee Cantos. “We understand this real life need and we are proud to be part of the journey in helping parents send their children to school,” Cantos concluded.
In keeping with the education savings needs of Filipino families today, Philam Life recently introduced a new education product called Future Scholar. Future Scholar is an investment and life insurance plan that provides long-term growth potential and guaranteed education benefits. It allows access to Philam Life’s expertly-managed funds and offers guaranteed education benefits. Future premiums would be waived should the unexpected happens, and for policy owners who took out the optional term insurance there would be additional payout that the family can use to expand the education fund. Customers can choose from two simple payment options – pay over 5 years or pay regularly until the child turns 17 years old.
Philam Life remains a trusted partner of parents in ensuring the continued education of their children. It has delivered timely payouts of over PHP10 billion in education benefits for the past 10 years, and over PHP131 billion in insurance benefits for the past six decades.
For more information, please visit http://www.philamlife.com.
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About Philam Life
The Philippine American Life and General Insurance (Philam Life) Company is the country’s premier life insurance company. Established on 21 June 1947, Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
Philam Life has PHP236.4 billion in total assets as of 31 December 2015 and has delivered timely payouts of over PHP10 billion in education benefits (2004-2015) and over PHP131 billion in insurance benefits (1950-2015), while serving close to 600,000 individual policyholders and over 2 million insured group members.
Philam Life understands the real life needs of its customers and provides the right plans and the right solutions including life protection, health insurance, savings, education, retirement, investment, group and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries – BPI Philam Life Assurance Company (BPI-Philam) and Philam Asset Management Inc. (PAMI).
Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and representative offices in Myanmar and Cambodia.
The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$181 billion as of 31 May 2016.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).