Grepalife launches dollar-denominated, guaranteed life insurance product

MANILA, Philippines - The Great Pacific Life Assurance Corp. (Grepalife) has introduced dollar-denominated variants of its My Life Series, a life insurance product.

The $ My Rich Life combines savings and insurance protection for 10 years with just one-time premium payment, while the $ My Secured Life gives savings and guaranteed insurance coverage for life, either in one lump sum payment or premium installments of up to five years. 

“These plans available in US dollar currencies share with the peso-denominated My Life series the same goal of letting their policyholders enjoy financial benefits and high-returns while they’re still in the pink of health,” Victor P. Quisumbing, president and chief executive officer of Grepalife, explained.

The $ My Rich Life starts with a single premium payment of $20,000. Cash values and dividends can be allowed to grow at a very competitive rate annually for 10 years, at the end of which the policyholder can get guaranteed lump sum maturity benefit added to the guaranteed life insurance protection amount.

Meanwhile, The $ My Secured Life can also be taken with a single payment of $5,000, or in five years either in annually, semi-annually, or quarterly modes.

Along with its accumulating dividends and cash value benefits, is its lifetime guaranteed insurance protection, giving complete security and peace of mind for the family.

One’s policy dividends for both products can be taken in cash, or left with Grepalife to accumulate more at interest, or used to buy additional insurance coverage.

They also offer terminal illness benefits should the policyholder suffer a health problem that reduces life expectancy to 12 months or less, and an emergency fund that enables one to get a loan against the policy to cover unexpected needs.

“We are reinforcing the living benefits of insurance through products that give maximum financial benefits,” Quisumbing added.

Grepalife is a member of the Yuchengco Group of Companies (YGC), one of Southeast Asia’s largest and diverse conglomerates.