Philam Life launches easy payment system

MANILA, Philippines - The Philippine American Life and General Insurance Co. (Philam Life) has launched several payment facilities for the convenience of its policyholders.

These facilities reduce the need to physically make payments with the use of existing bank facilities, which are partnered with Philam Life.

Philam Life president and chief executive officer Rex Mendoza said that the life insurer’s mission was to empower Filipinos to achieve financial security and prosperity.

“We want people to live a life of abundance while being financially responsible. We continuously provide our clients with more options on how to pay their premiums through various payment facilities,” Mendoza added.

Policyholders can pay their premiums through these payment facilities:

• Auto-debit arrangement. Policyholders can arrange automatic debits from their bank accounts to pay for the premium amount of their policy. Currently, the Bank of the Philippine Islands (BPI), BDO Unibank Inc. (BDO) and Security Banking Corp. (Security Bank) clients are allowed to enroll.

• Online banking. The ease of online banking extends to the insurance industry as Philam Life policyholders with BPI or BDO deposit accounts can pay from anywhere in the world with the convenience of clicking a button. BPI and BDO depositors can also pay via ATMs or via BPI phone banking.

•  Over-the-counter through bank partners. Philam Life has over 3,000 partner establishments nationwide. Partner banks include East West banking Corp., the Metropolitan Bank & Trust Co. (Metrobank), the Philippine National Bank (PNB), BPI, BDO, and Security Bank.

• Overseas Payment. Clients based overseas may deposit their premium payment to any bank or remittance center that accepts payment to the Philippines. Premium payments made to these banks or remittance centers will be credited to their policy.

For further information about these payment facilities, please visit www.philamlife.com or call (02) 528-2000 or 1-800-10-528-2000 (available to PLDT subscribers).

Philam Life is a member of AIA Group Ltd., the largest independent publicly listed pan-Asian life insurance group.