MANILA, PHILIPPINES – According to the 2014 Consumer Financial Survey by Bangko Sentral ng Pilipinas, 38% of Filipinos prefer to keep their savings at home while 43% prefer to save them in the bank. But these preferences put their hard-earned money at a disadvantage due to a multitude of risks such as theft, calamity, decline in purchasing power, declining interest rates, and the inflation rate.
With a pandemic still looming, many Filipinos have realized the importance of securing their hard-earned savings and want to become more financially prepared.
The country’s premier life insurance company, AIA Philam Life, recently introduced AIA Future Builder, the latest addition to its diverse product portfolio, that encourages more Filipinos to start investing their savings through a variable life insurance product. Variable unit-linked (VUL) life insurance products are one of the most preferred insurance products being purchased by Filipinos, as it allows one to save while being protected.
“AIA Future Builder can help you maximize your savings potential instead of just setting it aside. Policyholders can diversify their investments through either locally or globally managed funds. Heeding the current needs of our customers, the plan also comes with basic insurance protection for life, total permanent and disability, and personal accidents as well as additional benefits through optional riders,” said AIA Philam Life Head of Products Ten Paras.
AIA Future Builder is powered by AIA Philam Life’s science-backed wellness program, Philam Vitality, that incentivizes members with additional cash benefits and other rewards for healthy behavior, by knowing and improving their health. The product is also easier on the pocket through its various payment terms, with 5, 10 or pay-to-age 65 variants.
“Through AIA Future Builder, we are giving Filipinos a product that addresses their long-term savings needs—which could be for any anticipated big expense for the family like home renovation, travel, or anniversary celebration. By providing them the means to fulfill these dreams, we bring to life our purpose of helping Filipinos live Healthier, Longer, Better Lives,” adds Leo Tan, AIA Philam Life Chief Marketing Officer.
Click here for more information about AIA Future Builder, or visit AIA Philam Life’s Facebook page, email philamlife@aia.com, or call (02) 8528-2000.
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About AIA Philam Life
The Philippine American Life and General Insurance Company (AIA Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, AIA Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
AIA Philam Life has PHP291.38 billion in total assets as of 31 December 2019, while serving over 500,000 individual policyholders and over 1,500,000 insured group members.
AIA Philam Life understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries—BPI-Philam Life Assurance Company (BPLAC) and Philam Asset Management Inc. (PAMI).
AIA Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
About the Philam Group
The Philam Group comprises the biggest life insurance company in the Philippines. By putting its customers at the center of its operations, the Philam Group has earned the trust of its stakeholders and has achieved continued growth over the years.
The Philam Group was formed with the mission of empowering Filipinos to achieve financial security and prosperity. Through its strong network, it is able to offer financial solutions such as life protection, health insurance, savings, education, retirement, investment, group and credit life insurance, and fund management products and services.
After the establishment of AIA Philam Life in 1947, the Philam Group has since expanded to include other affiliate companies, namely: BPI-Philam Life Assurance Company (BPLAC), Philam Asset Management Inc. (PAMI), Philam Call Center, and Philam Foundation.
Based on the Insurance Commission results as of 31 December 2019, the combined total premium income of AIA Philam Life and BPLAC is at PHP33.87 billion. Its strength and stability is solidified by AIA Philam Life’s assets at PHP291.38 billion, and net worth at PHP88.94 billion. It is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR(2), New Zealand, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$291 billion as of 30 June 2020.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
Media Contact:
Abbie L. Remo
AIA Philam Life Head of Corporate Communications and PR
Telephone: +(632) 521 6300 local 2812
Email: Abbie-D.Remo@aia.com
