We all want our children to have a bright future. We work hard so we can equip them with the best education. However, our hard earned savings are not growing as much as we want them to.
Get a head start in building your child’s education fund no matter what happens to you with Philam Life’s MoneyWorks for Education. It's a unit-linked savings plan where benefits are connected to the performance of your chosen investment funds, allowing you to grow your money better over time. Plus, you also get lifetime insurance coverage to protect you if the unexpected happens.
MoneyWorks for Education is available at a minimum premium of PHP 20,000 a year.
MoneyWorks for Education gives you access to expertly-managed funds that can earn you an account value with higher returns than bank deposits.
FLEXIBLE FUND CHOICES
Get full control of your savings plan based on the risk you are willing to take. You have the privilege to increase your investment anytime. Plus, you can switch funds and change fund allocations whenever you like free-of-charge.
Your plan includes a waiver of premium for critical illness. Should you encounter any of 56 covered critical illnesses or become Totally and Permanently disabled, your plan will continue without you needing to pay future premiums.
Leave a cash amount for your loved ones when you pass away so you can make sure that their needs are taken care of. In case your account value becomes higher than your life insurance coverage when you pass away, your loved ones can get the higher amount instead.
insurance lingo explained
What is a “unit-linked product (ULP)”?
It is a type of insurance plan that is tied to investment funds. ULPs help you grow your money over the long-term while protecting your loved ones at the same time.
What do we mean by “investing in expertly-managed funds”?
A portion of your premiums are placed in investment funds that can grow your money in the long-term.
What do we mean by "account value"?
This refers to the accumulated amount of cash that you can earn over a period of time. This amount will depend on what funds you choose to invest your money in.
You can choose any of the additional options below to customize your plan’s coverage.
Get additional cash to use for serious if accidental injuries, disabilities or if you pass away due to an accident until age 72.
Get additional cash to help you recover from any of 56 covered major critical illnesses including cancer, heart attack and stroke until age 75.
Get additional cash to help you recover from any of 56 covered major critical illnesses including cancer, heart attack and stroke, and get 25% in advance if diagnosed with any of 11 covered early stage conditions until age 75.
Continue to enjoy your plan without having to pay for the remaining premiums if you get totally and permanently disabled before age 60. This can replace your waiver of premium for critical illness.
Continue to enjoy your plan without having to pay for the remaining premiums if you get totally and permanently disabled before age 60. You also receive a cash amount monthly. This can replace your waiver of premium for critical illness.
If you want to purchase this plan for a child, this additional coverage allows you to continue the plan without having to pay for the remaining premiums if you get totally and permanently disabled before age 60 or before the child is age 25. This can replace your waiver of premium for critical illness. This can replace your waiver of premium for critical illness.
This is a unit-linked product. It invests a portion of your premiums in funds that allow you to grow an account value over time. It is a MoneyWorks variant with a packaged Waiver of Premium for Critical illness benefit.
Please consult your Financial Advisor or refer to the policy contract for full details on the critical illness definitions, exclusions and limitations.
Payment Period is not guaranteed. In the future, if the accumulated Account Value becomes insufficient to pay for charges, it is possible that top-ups (i.e. additional premiums) may be required to continuously enjoy the benefits of this plan.
The minimum premium required may increase depending on the occupational and medical ratings of the proposed insured.
The contents of this page are for illustrative purposes only. Actual terms and conditions of insurance coverage are found in the policy. In case of conflict, policy terms shall prevail.
Upon receiving the Policy Contract, you may refer to it for the full details on the Critical Illness definitions, exclusions including the pre-existing conditions, and other limitations. If after reading the Policy Contract, you decide that this plan is not suitable to your needs, simply return it to Philam Life within fifteen (15) days from the date you or your authorized representative received it and we will refund to you the total premium you paid.