Insular Life launches dollar investment plan

Insular Life has launched a new product, the Dollar Earner, a US dollar-denominated endowment policy that also provides attractive investment returns.

Robby J. Ventura, Insular Life’s VP for Business Development, said "the Dollar Earner combines the benefits of life insurance protection, savings in the form of an endowment at the end of 10 years, and attractive investment yields.

It is ideal for the country’s dollar earners as well as those who want a secure alternative investment instrument that would provide attractive returns and protect them against currency fluctuations."

The guaranteed life insurance coverage for 10 years offers additional financial security to both the investor and the investor’s dependents. Ventura further illustrates how the plan works, "for a minimum single investment of about $1,500, a 30-year old can have $2,000 life insurance overage for 10 years. At the end of 10 years, the investor receives $2,000 as maturity benefit, which translates to a higher return compared to what it would have earned in a time deposit or savings deposit.

The returns will be higher for higher coverages. For the same age, a single investment of about $6,000 guarantees an insurance coverage of $10,000."

The life insurance coverage during the 10-year period is also a feature not offered by banks to depositors. In case the investor, who is also the injured, dies before the 10th year of his policy, a death benefit equal to the sum insured will be given to his or her beneficiaries.

The Dollar Earner is available for a minimum insurance coverage amount $2,000 for individual from 15 days old to 75 years old. For the same insurance coverage, the younger the person applying, the lower his premiums will be.

With the increasing number of Filipino dollar earners reflected by the $3.5-billion remittances during the first half of 2002, a 45 percent increase compared to the same period in 2001, Insular Life’s Dollar Earner may prove a wise investment instrument for the dollar-earning Filipino.