Group Life
We can help you provide your employees more than the basic paycheck.
Meaningful compensation is more than just providing your employees and members their salary. An employee’s financial security is complete only when salaries are supported by employee benefits such as insurance protection.
Insurance is an important benefit your people and their families will realize at the time they need it most. An organization that fills this need will enjoy the loyalty and focus of its employees and members.
Let us be your partner in providing insurance benefits to your group.
Contact a Philam Life Financial Planner
Contact us at (02) 528-2000 or
email us at philamlife@aia.com.
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Our Group Life Plans
We provide comprehensive protection for you and your employees.
Taking care of your people goes beyond providing them fair and attractive compensation. Give your employees peace of mind and security with life, accident, disability, and health protection from Philam Life’s Group Classic.
Comprehensive Employee Protection
- You can provide life insurance protection anytime, anywhere and against any cause of death* with Group Yearly Renewable Term (GYRT) Life Insurance.
- You can increase your employees’ protection with the following riders:
- Accidental Death, Dismemberment & Disability (ADD&D) Benefit
- Total & Permanent Disability Income Benefit (TPDIB)
- Terminal Illness Benefit (TIB)
- Hospital Income Benefit (HIB)
- Critical Illness Benefit (CIB)
Customizable Benefits
- With the array of benefits available, you can tailor-fit your plan depending on your needs or budget.
- Group Classic is also available in US Dollar.
With Group Classic, you can now avail of customizable benefits that work hard for your people.
* Except for suicide during the first year of coverage
We provide you valuable benefits to work hard for you with Group Classic.
- Group members are protected Anytime, Anywhere, and against Any cause of loss of life (except suicide on the first year).
- Client can choose from a wide selection of life, accident, disability and health benefits.
- Group Classic is highly flexible. Benefits and amounts of coverage may be customized to suit your group's needs and budget.
- Allows easier administration and more practical compared to getting individual insurance plans for group members.
- Also available in dollar coverage.
- When employees are worry-free, they are more productive employees.
Below are common Frequently-Asked-Questions (FAQs) about Group Classic that we have compiled for your reference.
Q: What types of groups can avail of Group Classic?
A: The following can enjoy Group Classic:
- Employee-Employer Groups
- Professional Associations
- Cooperatives
- Labor unions
Q: Who are eligible to enroll?
A: Eligible insureds are:
- Regular, full-time, actively-at-work employees, ages 18 to 64, or
- Bona fide members of good standing, ages 18 to 64, who are actively performing the normal chores of life
Q: How many employees can be insured?
A: A minimum of 26 lives must be enrolled for the policy to take effect. If the Employer will be paying the insurance premiums, 100% of all members must be enrolled. If the members will be paying, at least 75% of all eligible members must be enrolled.
Q: How much coverage can insureds avail of?
A: Benefit amounts may be a minimum of P25,000. Employees belonging to the same level (e.g. Managers) must have the same amount of benefit as all other members in that level.
Q: What do I need to submit to receive a proposal?
A:
- Please submit a list with the following details:
- Employee Names
- Birthdates
- Designation
- Benefits and amount of coverage
- Please include Level/Rank if coverage amount depends on level
- Please include Salary if coverage amounts depends on salary
- Your contact details (name, numbers)
You may also get in touch with one of our Corporate Account Officers at (02) 528-5406 to 16 so we can prepare a proposal for you.
Q: Once I find the proposal acceptable, what are the requirements before employees can be insured?
A:
- Final list of individuals to be insured
- Employee Names
- Birthdates
- Designation
- Benefits and amount of coverage
- Please include Level/Rank (e.g. Rank & File, Manager, Executive) if coverage amount depends on level
- Please include Salary if coverage amounts depends on salary
- Proof of good health may be required from enrollees. Coverage will take effect only upon approval of proof of good health submitted.
- Group Application Form
- Premium payment