MANILA, Philippines – Insular Life, the country’s leading and largest Filipino life insurance company launches I-Peso Fortune, a structured variable unit-linked insurance product benefiting from Asia’s valuable gems – the small-capitalized companies (with market capital of $300 million to $2 billion).
I-Peso Fortune provides the opportunity to participate in the promising performance of these Asian companies as they gain momentum to be the significant players of the global financial market.
Starting at an affordable investment premium of P250,000, I-Peso Fortune is a Peso-denominated product that matures in seven (7) years and provides 100 percent capital protection, if held to maturity. Returns for this product are paid as harvest coupons at the end of the 5th, 6th and 7th year of the policy.
Returns shall be based on the performance of a structured note linked to the ING Asian Emerging Companies VT10 percent Index. This index is hinged on the Franklin Templeton Investment Funds – Templeton Asian Smaller Companies Fund and 50 percent Aberdeen Global – Asian Smaller Companies Fund. Both are among the reputable fund in the market and have been outperforming the benchmark for the past five years. The Templeton Asian Smaller Companies Fund is managed by world renowned global investor and emerging markets fund manager, Dr. Mark Mobius, PhD.
A first in the local market is the “Double Lookback” feature embedded in the product to mitigate market risks and enhance returns. The first lookback feature is used in determining the lookback level which will be the basis of computing for the product’s returns. The lowest level of the ING Asian Emerging Companies VT10 percent Index among the strike date and the next four quarters shall be identified as the lookback level.
The second lookback feature is used in determining the harvest coupon payout. Returns on the investor will be based on the index’s highest annual performance from year one to the year of payout. Therefore, should the index register some upside on the 6th and 7th years, the investor can still participate on this positive performance.
Unique to investment-linked insurance products, I-Peso Fortune provides added financial protection to the clients’ loved ones equal to 125 percent of the single premium or the fund value, whichever is higher.
Vice president for business development unit, Alijeffty C. Gonzales, RFP says, “With this latest innovative offering, Insular Life offers Filipino investors to ride on the positive outlook of Asia. The region has been the world’s one-stop shop for international finance centers, technology hubs, commodity producers and tourism. Countries in the Asia-Pacific region continue to outpace growing economies elsewhere and are expected to serve as anchors of stability and the new growth pole of the world economy.”