The Philippine National Bank (PNB) and the PNB General Insurers Co. Inc. (PNBGen) have entered into an agreement to provide insurance benefits to participants of PNB DREAM Builder unit investment trust fund (UITF).
PNBGen is a wholly-owned subsidiary of PNB that offers fire, marine, motor car, surety, casualty, engineering, and accident insurance.
A peso-denominated, intermediate-term bond fund, DREAM Builder UITF aims to help investors in their goal of providing for their child’s education or gain start-up capital for a small business.
It offers the lowest minimum initial participation in the market at P5,000 with a required monthly contribution of at least P2,000 for 12 months.
Under the partnership, PNBGen will cover participants of the DREAM Builder UITF with accidental death, dismemberment, and total permanent disablement insurance.
The insurance coverage will double the amount of the participant’s initial contribution effective for 12 months after account opening.
PNB is one of the commercial banks respected in the trust business. It offers investors with a wide array of UITFs and other trust products to address their specific investment objectives and risk appetites.
Just recently, PNB emerged as number one in two different categories in the Watson Wyatt Philippines’ 94th survey on investment performance of retirement funds as of the second quarter.