Philamlife launches low-cost VUL

MANILA, Philippines - The Philippine American Life and General Insurance Co. (Philamlife) is introducing Abundance Plus, a new investment product with insurance coverage and capital returns.

Abundance Plus is a variable life product (VUL) combining investment and insurance in an easy-to-understand package. It will boost earning potential and get life and health insurance for as low as P20,000.

Policyholders can choose the investment fund that fits your financial needs as well as increase the investment and insurance coverage anytime.

This product is ideal for first-time investors as they can participate in potentially high yielding investment funds while enjoying lifetime insurance protection.

Abundance Plus provides minimum life protection coverage equal to 500 percent of the annual premium, plus 125 percent of each top-up investment, less 125 percent of each partial withdrawal, if any, or a percentage of the Account Value, whichever is higher.

Abundance Plus can insure individuals from until age 70 and is available in annual, semi-annual and quarterly modes of payment.

A minimum annual regular premium of P20,000 is equal to a face amount of P100,000. You may make additional investments or top-ups in either the Philam Life Balanced Fund, the Philam Life Fixed Income Fund and/or the Philam Life Equity Fund, for at least P5,000.