Insurance companies offer life insurance in different packages. Depending on the package, you can be insured for life or for just a specific period of time. Whether you are seeking a temporary or permanent life insurance, the most important thing is to find a reliable and respected insurance company to ensure that you are not paying your premiums for nothing.

Most insurance companies offer these services for individual life insurance: life benefits, accidental death/death benefit, maturity benefits, hospitalization benefits, life insurance protection/benefits, etc.

The aforementioned benefits are subject to the policy’s fine prints or conditions including years of payment, age of policyholder, health condition, etc. One of the conditions that deter individuals from applying for insurance is age and health requirements as most insurance companies have age limits and discriminate against certain health conditions.

Consider the insurance company’s stability, financial strengths, return of equity and investments, and reserves.

Philippine Prudential Life offer some of the most comprehensive insurance policies in the country. Aside from individual life insurance, Philippine Prudential also provides group insurance and healthcare plans for working employees.

Permanent life insurance ‘til your 100 years old

PPLICs Wealth Builder Plan is a whole life insurance plan that provides coverage and guaranteed death benefits until you reach your 100th birthday. Philippine Prudential Life Wealth Builder Plan policyholders are also entitled to endowments on the tenth and twentieth year of payment as well as yearly cash dividends (amount depending on the company’s performance). As a plan holder, you will also get hospital income benefits when you are confined in the hospital due to an accident or sickness. Philippine Prudential Life also doubles your insurance amount (payable to beneficiaries) in case of accidental death. Philippine Prudential Life will also waive the policyholder’s premium dues if the policyholder becomes permanently disabled before reaching the age of 60.

Bundled life insurance and college education in one plan

The Smart College Protector works like a savings account and a life insurance in one. This Philippine Prudential Life policy is designed to provide yearly allowance when your child reaches 17 years old. Depending on your policy premiums, your child can receive up to P100, 000 each year, which can cover his tuition fee and miscellaneous expenses. The Smart College Protector is payable for 5 or 7 years.

Your child is also protected with life insurance from the policy’s effectivity until the age of 21. In case of death, the insurance amount is doubled as accidental death benefit.

Ensured college plan

With this Philippine Prudential Life policy, in case of the payor's death, the child receives a yearly allowance of up to P50, 000, depending on the applied plan, which can pay for his or her elementary or secondary education until the age of 16. The remaining premiums will also be paid for by Philippine Prudential until the policy is fully paid.

The enrolled child must be 0 to 10 years of age to become eligible to the Smart College Protector Plan. Any immediate family member can be the payor including parents, aunts, uncles, grandparents, or the child’s siblings. The payor must be 18 to 65 years of age.

Guaranteed life insurance at the age of 40

Philippine Prudential knows how important life is, which is why they are opening their doors to individuals of age 40 to 75 and without existing insurance to come and ensure their life protection with the Prime Life 40 Plus Plan.

How about the health requirements?

PPLIC makes life insurance possible for everyone by wavering the medical exam and health conditions as one of the requirements to getting coverage. This is offered without extra premiums or minimizing the policyholder’s coverage. Premiums are payable for 12 years and the life insurance protection is effective until the policyholder reaches the age of 100.

Fine print

Philippine Prudential’s Prime Life 40 Plus Plan’s life insurance benefits is effective on the policy’s second year. However, in case of accidental death during this time, the beneficiaries will receive the full amount of insurance. In case of natural death in the first two years, PPLIC will return the full amount of premiums paid by the policyholder with 10% interest.

Philippine Prudential Life Insurance is a Filipino-owned company founded in 1963 with a long history of providing reputable service to their members. They provide services more than 1.5 million policyholders, including their families. Despite the collapse and losses of older and more well-known insurance companies, Philippine Prudential continues to give services and live through the challenges of today’s harsh economy. visit their website: http://www.philprudentiallife...