Estela Belen: The Sweetest Success

Tweet

ARP 2016 with my manager Rick Jared Belen, VIP client Susana M. Ipapo, and my secretary James Y. Sunico

When faced with challenging circumstances or seemingly impossible choices, there are only two categorical responses: fight or flight. Almost every person in the world has experienced being at such a decisive moment. For Estela Belen, it was when her husband of 25 years suddenly died. She was 44 years old then, and was suddenly faced with the responsibility of maintaining a household and raising 13 children… by herself. Difficult as things may seem, she chose to fight.

(L-R standing)) Ma. Katrina B. Licudine (1), Enrico C. Belen, Jr. (2), Ria B. Trillo(3), Rachel B. Salapa (6) Eve Stella B. Valdez(grand daughter 8), Susana M. Ipapo (VIP client), Eric C. Belen(5), Estela C. Belen, Kris C. Belen (7), Kristal C. Belen (11), Ma. Estela B. Valdez(12), Maura Luz c. Belen (13). (Kneeling center) Francis C. Belen (9), (Kneeling L-R) Dan Louie O. Salapa(son in-law to #6), Rick Jared C. Belen (8), Charles C. Belen (10), James Y. Sunico (Personal Secretary). 

All throughout her married life, Estela has always been a housewife. While she managed most of their domestic affairs, she had no job experience whatsoever, and was relying on her husband for their household’s financial resources. When her husband suddenly passed away, she knew she had to provide the financial support that was now lacking. She needed a source of income, especially since 11 of her kids were still going to school then. 

In her search for employment, a good friend led her to become a financial advisor for Philam Life, the largest insurance company in the Philippines. She went through the motions and found that her natural management aptitude, with running her 13-plus-one household, was helpful to the job.

It was, of course, a rough start because she had no background on the insurance industry, but she trudged on and learned what she could as quickly as possible. She also had to make the transition from being a housewife to a career woman, which was no small feat. She struggled to balance her new working life with her family life, but she persevered -- selling insurance policies and providing very good service to her clients for her clients. Eventually, through hard work and pure grit, Estella was able to work her way up to become a bona fide top earner, an achiever in her industry.

(L-R) Ma. Katrina Belen-Licudine, Enrico Belen, Jr., Ria belen-Trillo,Richard Belen,Eric Belen,Rachel Belen-Salapa,Kris Belen,Rick Jared Belen,Francis Belen,Charles Belen,Kristal Belen,Ma. Estela Belen-Valdez,and Maura Luz Belen.

Fast forward to the present -- twenty one years after taking on the job, Estella was awarded with one of the company’s highest and most elusive honors: Top Associate of the Year. This accolade is given to the financial advisor with the highest premiums in one year

Her exceptional work ethic and her positive outlook contributed a lot to her success. Through her earnings and performance bonuses, she was able to financially support her children, all of whom are grown up and some of whom chose to work with her at Philam Life. Thanks to the schedule flexibility of being a financial advisor, she did not have to take too much time away from her family.

Estella is proud of how far she has come in the company, but remains humble, choosing instead to focus on the good that her work brings to her clients. “More than anything, it feels fulfilling,” Estella said. “I get to help my clients with their financial planning, to give them peace of mind and security about their financial future, at the same time, I also get to help my family. It’s a happy, win-win situation for all,” she concluded. 

Estella has proven to be the personification of perseverance, tenacity, and determination and she is eager to continue her work with Philam Life for years to come.

Philam Life primes against fraud

Tweet

Nick Wright, Associate Director for Investigations and Financial Crimes Compliance of AIA Group Compliance, talks about “Gathering and Analysis of Evidence” during the Fraud Investigation Workshop.

In the insurance world, when we talk of fraud, we often referred to the policyholders and/or claimants.  But fraud can take many forms as it comes in all shapes and sizes.  Insurance fraud is evolving.  Fraudulent activities in the organization may be perpetrated by internal and external individuals.   That is why fighting fraud and mitigating fraud risk are gaining significance in the insurance industry.  

Recently, Philam Life conducted a Fraud Investigation Workshop, with the intention of guiding participants (key employees, senior management officers, and bank partners) of effective anti-fraud efforts – including prevention, detection, and investigation of fraud, fraud reporting, and fraud risk awareness, education and training.

Philam Group participants working on analysis and assessment of a case study.

The two-day Fraud Investigation Workshop shows the company’s commitment in treating customers fairly and that it does not condone nor tolerate any acts of fraud within the organization.  Proper and effective investigations reinforce ethical culture as they help: 

• Management to “walk the talk”
• Employees and agents feel safer to report misconduct
• Increase deterrence
• Protect customer interests and the company
• Strengthen internal processes and governance

To combat fraud effectively and proactively, Philam Life and its affiliates (BPI-Philam, Philam Asset Management) adhere to its Anti-Fraud policies and guidelines, set-up a Whistleblow Policy and Hotline, promotes Speak-Up culture, conducts Ethics Survey and Ethical Leadership Training.  

(From left) Philam Life Chief Risk Officer Joseph de Dios, AIA Group Compliance Associate Director Nick Wright, Philam Life Head of Compliance Ivan Justiniano.

(From left) Philam Life Chief Risk Officer Joseph de Dios, AIA Group Compliance Associate Director Nick Wright, Philam Life Head of Compliance Ivan Justiniano.

Philam Life upholds the highest standards of integrity and professionalism by adopting a zero-tolerance policy to fraud.  Trust and integrity are of utmost importance to a financial institution like Philam Life.  It is committed to conduct business in an environment of honesty and integrity and will strive to reduce if not eliminate fraud from all operations.  Philam Group works to protect customer interests and ensures fair and ethical approach to customers.

As the premier life insurance company in the Philippines, Philam Life continues to embody its commitment of being a real life company that people can trust.

Over 51,000 education benefit payouts released for 2nd Semester of SY 2016-2017

Tweet

With increasing tuition fees and extended years of basic education, having an education plan has become even more relevant nowadays. Many parents who have made a decision decades ago to invest in a good education plan for their children, are now reaping the fruits of their hard-earned savings, thanks to Philam Life. 

In May of 2016, 50,000 scholars received their education payout for the 1st semester of SY 2016-2017. This second semester, Philam Life released over 51,000 education benefit payouts to policy owners. Most of the benefit payouts were made through CTA (credit to account) as part of the company’s “ease of doing business” drive to ensure policyholders receive their benefit payments in a fast and convenient manner. 

“Providing the best education for their loved ones continues to be a key priority among Filipinos. Nothing is more important and more fulfilling for parents than to see their children finish school,” said Philam Life CEO Aibee Cantos. “We understand this real life need and we are proud to be part of the journey in helping parents send their children to school,” Cantos concluded.

In a related matter, Philam Life introduced a new education product called ‘Future Scholar,’ which addresses the needs and specifications of middle-class families who want the best education for their children. 

Future Scholar is an investment and life insurance plan that provides long-term growth potential and guaranteed education benefits. It allows access to Philam Life’s expertly-managed funds, offers guaranteed education benefits, waiver of premium, an optional term insurance for the payor, which the family can use to expand education costs in case the unexpected happens. Customers can also choose from two simple payment options – pay over 5 years or pay regularly until the child turns 17 years old. 

Philam Life remains a trusted partner of parents in ensuring the continued education of their children. It has delivered timely payouts of over PHP10 billion in education benefits for the past 10 years, and over PHP131 billion in insurance benefits for the past six decades.

For more information, please visit http://www.philamlife.

Protecting the Future: A Parent's Guide to Getting an Education Plan

Tweet

One of the most important things a parent should do is to ensure that their children receive the best education that money can buy. As parents, we must make sure that we are financially stable enough to put our children through school. And we must also acknowledge that our children's dream university or college might be more expensive than we’d expect, especially since education costs have been rising every year. Hence, planning ahead and making investments for our children's education, through an education plan, is very crucial.

As such, getting your children (or your future children) an education plan should be one of the first things parents should aim for, aside from being able to provide for the family. However, before getting one, parents must know and understand the features and benefits of an education plan, as well as the expenses that go along with it.

Every education plan, offered by many different companies, has a different set of benefits. This means that you have many things to consider while shopping for an education plan that fits your budget and your future goals. Do you get the pay-out benefits as soon as your child enters high school? Or is it for a college fund? How much do you need, and how much can the education plan give you? 

Here are some helpful tips on getting the right education plan for your kid: 

• Always make sure that the benefits of the plan you are looking at are aligned with your needs. Better if there are additional features included like life or accident insurance so your children are still guaranteed to receive the education plan benefits in case something happens to you. 

• Research on the companies offering education plans. You’ll want to make sure that the company you are getting an education plan from is financially strong, trustworthy, reliable, and capable of keeping its promises. You want to be assured that you will receive the benefits on-time and in full, without having to worry about the company going bankrupt. 

• Save early: Start saving as early as possible so that you can be sure that you are financially stable enough to pay for your child’s education plan. 

• Find other sources to fund your child's education savings by exploring other resources of growing your money, such as investments, having passive income, and so forth. 

• Divide financial tasks between the two parents. Having mutual spending decisions, and constant communication about money is very important. 

Education plans are something everyone should have for their children. Sometimes, the education we want for our children will cost more than an arm and a leg. A plan helps make that education more affordable. 

Now that you know what kind of education plan you are looking for, you are ready to send your child to their dream university-- even before they've graduated high school.

To know more on how to plan for your child’s education, visit www.philamlife.com

About Philam Life 

The Philippine American Life and General Insurance Company (Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises. 

Philam Life has PHP236.4 billion in total assets as of 31 December 2015 and has delivered timely payouts of over PHP10 billion in education benefits (2004-2015) and over PHP131 billion in insurance benefits (1950-2015), while serving close to 600,000 individual policyholders and over 2 million insured group members. 

Philam Life understands the real life needs of its customers and provides the right plans and the right solutions including 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 (BPI-Philam) and Philam Asset Management Inc. (PAMI). 

Philam Life 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 Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and representative offices in Myanmar and Cambodia.

The business that is now AIA was first established in Shanghai almost a century ago. 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$181 billion as of 31 May 2016. 

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 29 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”).

Doing Good While Doing Well: Philam Group institutionalizes annual donation to intensify CSR efforts

Tweet

This year, Philam Group  pledge to do more by institutionalizing its annual donation to intensify its CSR efforts.

Many companies adhere to a sense of corporate social responsibility through educational and social programs that benefit a marginalized sector of the population or the society at large. 

One of these is the Philam Group of companies, which has been a staunch advocate of the importance of giving back to the community. 

Philam Life Chief Executive Officer Aibee Cantos

“For the past 69 years of philanthropic success, we have been actively enriching the lives of Filipino families through our various CSR programs. This year, we want to do more by pledging a portion of our annual income to ensure our CSR programs continue to expand its reach and enable us to serve more communities,” Philam Life Chief Executive Officer Aibee Cantos said during the recent briefing with the press dubbed as “Doing Good While Doing Well," held at the Philam Tower, Makati City. 

The Philam Paaralan is one of the notable projects of Philam Foundation, Philam Group’s CSR arm.  Philam Paaralan aims to build classrooms in calamity-stricken areas around the country, in coordination with the Department of Education. To date, the program has constructed 101 classrooms for the past four years.

The Philam Paaralan classrooms are typhoon-resilient, fully-furnished and complete with water sanitation and hygiene (WASH) facilities that are essential in providing schoolchildren a healthy environment conducive for learning.

The Philam Group, composed of Philam Life, BPI-Philam, and Philam Asset Management Inc., (PAMI), has pooled their combined annual donation amounting to Php31 million, which will be used to finance more Philam Paaralan classrooms and other noteworthy projects. 

A ceremonial check turnover from Philam Group to Philam Foundation was held during the event.

Also present during the event were AIA Regional CEO Gordon Watson, Philam Foundation President Max Ventura, Department of Education (DepEd) Secretary Armin Luistro, and Insurance Commissioner Emmanuel Dooc.

Insurance Commissioner Emmanuel Dooc.

In his speech, Commissioner Dooc commended the Philam Group’s selfless act of institutionalizing its annual donation that would benefit more marginalized sectors of society.

DepEd Secretary Armin Luistro 

DepEd Secretary Armin Luistro also gave a short message, thanking the Philam Group for being a forerunner in providing support to the education sector. The DepEd has been working closely with the Foundation in identifying schools that are most in need of new classrooms.

“Given Philam Group’s strong financial position, we want to be able to ‘do good while doing well,’ and we are happy to create a sustainable contribution to the community thorugh the Philam Paaralan programme. In line with our thrust to empower more Filipinos to live longer, healthier and better lives, we want to build more classrooms and give more children a healthy education and a better life for the future,”  said Cantos. 

For more information on Philam Life and Philam Foundation, please visit www.philamlife.com

Wanderlust: Set Off a Career into New Adventures

Tweet

From Left: Philam Life MDRTs Neil Llorente, Rochelle Tumang, Gerald Cruz

Education helps broaden your spectrum of knowledge and skills, but when it comes to learning about life, there is nothing more enriching than traveling and discovering the world around you. It captures you with a sense of wanderlust, and makes you yearn for more exciting destinations to explore, rich cultures and history to experience, mouth-watering cuisines to savour, as well as interesting people to meet.

For employees working in a traditional 8-to-5 set-up, however, finding the time to take a vacation and travel might be difficult. Well, it’s a whole different story for thousands of Philam Life Financial Advisors who have embarked on a Real Life journey towards success, and are enjoying the freedom to take charge of their own time and schedule while working steadily towards achieving their life goals. 

Philam Life breaks boundaries once more, and takes the Wanderlust Mega Business Opportunity Program (BOP) off to greater heights. This time, conquering the provinces of Bulacan and Dagupan with some of the proud globetrotters of the Philam Life Premier Agency career path sharing their Real Life stories, and how they have become successful in the field of insurance.

Grace Recomite, Joe Michael Veloria and Carina Bayabo

Like many Filipinos, Rochelle Tumang from Sto. Domingo Associates, used to work a 9-to-6 job, and was too burdened by the long and arduous work hours. “I started to feel that my job was weighing me down, and that I wasn’t being enough of a mother to my family because of it,” Rochelle shared. “That’s when I decided to leave my job and find one that allows me to work on my own time, at my own pace, so I can stay home and be the mother my children deserve.” Rochelle also takes the time to listen to the needs of her clients, and she carries herself more like a mother too, allowing the clients to trust her with all their insurance needs.

Gerald Cruz from Mendoza Associates, has always lived by his own dictum, and his determination proves to be the key to his success. He started traversing the road to be a Philam Life Financial Advisor while he was still working as an IT professional in Singapore. "I wasn't progressing the way I had envisioned it. I also felt the strain of being so far away from the people l love most. That's why I decided to switch career and choose one that can reward me for the work and time I've put into the game," Gerald highlighted.

On the other hand, Next Generation Premier Advisors from Starbright Financial Advisors, Neil Llorente and Grace Recomite, took the leap of faith and have become part of the Million Dollar Round Table (MDRT) – an elite group of internationally recognized Financial Advisors at a very young age.

Despite being much younger compared to other seasoned Financial Advisors, Neil credits the strong support of the Company and of his team. “Being in this industry is a good equalizer. Regardless of which background you come from, as long as you are willing and hardworking, you can succeed. Success is never an accident. It is determined by your character, your competence, and your commitment,” Neil expressed.

“I came to a point that I wanted to be the best version of myself, and I wanted to be in a career that I can see myself doing the rest of my life,” Grace shared. Therefore, she wasted no time and eagerly attended the various training and development programs institutionalized by Philam Life’s Premier Academy. Now, 27-year-old Grace brings her positive attitude when conversing with clients: “Every time I meet my clients, it is always a learning experience. Rejections only make me stronger,” Grace added.

Joe Michael Veloria from North Luzon-V.Sanglay Agency concurred with Grace and, added practices that can further improve communications skills. “Do it on a daily basis. The only way to master your craft is through repetition. In as short as one month, Philam Life Financial Advisors are more than ready to put what they’ve learned into actual practice, fast tracking their way up to the top,” Joe explained. 

Alternatively, Carina Bayabo from Rizal-Maunahan Agency, spoke about her personal desire of philanthropy that led her to reach the top. “It has always been the mission before the commission,” Carina emphasized. With her success as a Philam Life Financial Advisor, Carina is able to live a life of significance, as well as change the lives of other people around her.

All speakers attributed their success to their positive attitude, commitment to learn and master their craft, and their strong partnership with Philam Life, the country’s premier life insurance company. 

Stephen Segismundo, Head of Agency Strategy Office at Philam Life, concluded the events by reinforcing to the attendees the message that together with Philam Life, they will be able to live a life of stability and success together with the people that they love most.

For more information on Philam Life, please visit www.philamlife.com

Health and happiness in a convenient package for employees

Tweet

Happy and healthy employees lead to improved morale and higher productivity. This is why providing attractive medical benefits for a company’s workforce is essential. It is also one of the key considerations of employees in choosing which company to work for.

While providing employee medical benefits is a sound investment for employers, many are still daunted by the cost and challenges of medical insurance application for their employees. Luckily, there are companies that provide medical benefits to large groups that don’t cost as much as employers think.

Philam Life, the country’s premier life insurance company, recently launched a comprehensive Group Medical Insurance plan through its Corporate Solutions arm. Employers can now avail of flexible and extensive medical insurance for their employees depending on their need and budget.

Philam Life CEO Axel Bromley discussing the benefits of the Group Medical Insurance during the launch.

“Companies need to take care of their workforce if they want them to be efficient and productive,” said Philam Life CEO Axel Bromley. “With the new Group Medical Insurance plan, Philam Life empowers employers with the right solution to address the real life needs of their employees,” Bromley emphasized. 

In partnership with Medilink, the pioneer in state-of-the-art technology solutions in the healthcare industry, Philam Life introduced Health Link, a packaged plan for micro and small businesses that gives employees the best of both HMO and medical reimbursement programs while providing life insurance benefits. 

"We believe that healthcare is a universal human need. It should be affordable, accessible and efficient," explained Medilink President and CEO Esther Go. "We are pleased to support Philam Life's newest product. Trust that our commitment to quality services and innovation will remain as strong as ever."

Employers can choose from any of Health Link’s basic benefits like Basic Medical/Inpatient Benefits, Group Life Insurance, Accidental Death, Dismemberment & Disability Benefit and Total & Permanent Disability Income Benefit. 

They can also add optional medical benefits such as Annual Physical Exams, Dental Benefits and Outpatient Benefits which include physician/specialist consultations and x-ray and laboratory tests. The benefits and premiums of Philam Life’s Health Link can be customized depending on the budget or needs of the employer.

Philam Life’s Health Link is available for small business owners with at least five regular employees. Employees may also enroll their legal spouse, children, parents and siblings as their dependents. For large companies or non-employee-employer groups, Philam Life can customize a plan specific to their requirements, too.

Insured members who need financial and medical assistance must simply present their Philam Life membership card to any hospital, clinic or doctor accredited by Medilink. In case their preferred hospital, clinic or doctor is not accredited with Medilink, members can still avail of their services and subsequently, reimburse the expenses incurred. All benefits will be subject to their plan limits.

To know more about Group Medical Insurance or Health Link, contact Philam Life Corporate Solutions via phone at (02) 528-5363, or email at PHI.PAL-CSNewBiz@aia.com. 

You may also visit www.philamlife.com.

The Real Life Passions of Generation-Y

Tweet

Having the right balance between career and lifestyle can be challenging for many people, but for Philam Life Financial Advisors, it is possible to work at their own pace, and enjoy the perks of the career, which allows them to get as much out of the job as they put into it.

In a power-packed launch party event, dubbed as, “Ignite! The Real Party Never Stops,” Philam Life launched its new Next Generation campaign that celebrates the successes of young Financial Advisors, who take pride in having chosen a career that supports and complements their individual passions. They officially unveiled its Next Generation video, its maiden issue of Ignite! Magazine, and an exclusive first look at an up and coming new and exciting online community.

Here, Philam Life featured 13 young, passionate Next Generation Champions who have discovered how it is to take charge of a successful career while doing the things they love. Among them was Aileen Palmes, who felt fulfilled in ruling her world. Her love for ballet taught her what it truly means to love what she does and she applies it now with her passion for her career. Another featured Champion was Timothie Sy, who developed a winning mindset, attitude and discipline from his training as a Financial Advisor. He takes this with him wherever he may be in the world and in whatever situation he may find himself in. Aileen and Timothie, together with the rest of the Champions, walked down the catwalk as styled by celebrity stylist Carla Villanueva and presented by the very talented host Joyce Pring.

When Timothie Sy and Aileen Palmes were asked what they loved most about being a part of Philam Life, Timothie said “Philam Life enables me to beat my best and do what I love most. I’ve traveled the world to not only sharpen my skills, but to also have amazing unforgettable adventures.”

“I personally love how I get to rule my own world, be the boss of my own time. When I do work, I enjoy connecting with my clients on a more personal level. Knowing that I make an impact on their lives is absolutely fulfilling for me,” Aileen added.

Speaking at the party event was Philam Life CEO Axel Bromley who recognized the amazing power of the Next Generation and reaffirmed that being a Philam Life Financial Advisor fits the lifestyle of this young and driven generation. “I admire how millennials are finding their place in Philam Life as Financial Advisors. Philam Life provides them an opportunity to ‘work to live’ rather than ‘live to work,’ while enabling them to pursue their real life passions,” he enthused. 

Bromley explained that being a Philam Life Financial Advisor means more than just a career. “It’s a way of life that allows members of the Next Generation to ignite their passion and achieve their dreams while changing lives and making real life plans happen.”

“Ignite!” was held at Valkyrie, one of the most popular clubs in the metro, where the crowd danced to the music of Club Master DJ Euric, and enjoyed unforgettable moments captured by hotshot photographer Inez Moro. 

To discover exciting opportunities in Philam Life, please call (02) 526-9456.

From Loss to Law, Thanks to Philam Life

Tweet

There is no question that every mother dreams to see her children grow up to be self-sufficient and financially stable. But how do we guarantee their security, when quality education grows more expensive every year, and more and more parents are forced to drop their children from school due to a lack of necessary funds?

In 1997, this precise challenge hit Ms. Monserrat V. Delos Reyes. After leaving her job in the medical field as a nurse, she was unsure if she could afford to pay the tuition fees of her children. “It was a difficult time,” Delos Reyes narrated. “I was constantly worried about our expenses, most of all how I could possibly pay for the schooling of my kids.”

Fortunately, Delos Reyes found a highly rewarding career as a financial advisor for Philam Life. With full belief in both the products she was selling and company providing them, she bought an education plan with a very specific purpose in mind. 

“My daughter Regine always dreamt of studying in De La Salle University and becoming a lawyer,” Delos Reyes explained. “I wanted to secure my daughter’s future, regardless of whatever unexpected turns life would throw at me,” she enthused.

Regine Delos Reyes Graduation Pic with Family

In 2007, Monserrat’s investment was fully returned, and Regine was able to take up a degree in Economics at De La Salle University. She continued to receive checks twice a year from Philam Life, which were able to pay for three trimesters’ worth of Regine’s tuition every year. Since Regine’s course took only three years to complete, Delos Reyes was able to use the fourth year of her educational plan payout to cover other family expenses.

“It felt like a huge weight was lifted off of my shoulders. I had the peace of mind that Regine’s education was taken care of and assured by Philam Life. I couldn’t be happier with my choice of investment,” the proud mother beamed.

Regine was then able to go to law school, again at De La Salle University. She recently graduated as the top 4 student in her class, and will be taking the Bar exam in November. She aspires to specialize in family law and join one of the largest law firms in the country.

“I’m so thankful to my mother for giving me the opportunity to pursue my dreams,” a clearly emotional Regine affirmed. “Our family is a clear example of how Philam Life touches and improves real lives. They changed the course of our lives permanently, for the better,” she concluded.

Philam Life gears up for bigger milestones in the Year of the Wood Horse

Tweet

The country's premiere life insurer, Philam Life gears up for bigger milestones this year 2014.  As the Filipino-Chinese community ushers in the Year of the Wood Horse, Philam Life kick started the new Chinese year with its annual dragon parade held in Binondo.

Philam Life head of Marketing, Jessica Abaya shared to us that Philam's Chinese New Year celebration is a gesture of solidarity with and respect for the Filipino-Chinese community.

“Philam Life is part of the AIA group, a leading Pan-Asian life insurance organization across Asia Pacific, which has roots in Shanghai, China. This celebration is important to us as it affirms our deep roots in Asia,” she said.

Philam Life’s Chinese New Year dragon is known for being the largest parade dragon in the Philippines.

Long-standing tradition

During the celebration, Abaya also noted that the Chinese “highly value face time when they interact with anyone for business purposes.”

“Aside from our long-standing tradition of welcoming the Chinese New Year in Binondo, Philam Life has year-round activities that aim to help the Filipino-Chinese community achieve their financial goals through our products and services,” she added.

“We hold regular client forums wherein we discuss current economic conditions, wealth management principles, and applicable product solutions.”

While the Filipino-Chinese market has the same financial needs as other life insurance clients, they prefer products with earning potential, thus the tendency to purchase investment or savings products. Philam Life is also doubling efforts to undertake a more specialized recruitment strategy to be able to serve the Filipino-Chinese community better.

Winning year

In 2013, the Philippines’ largest life insurer reinforced its leadership when it bested 16 other AIA countries and won both AIA Premier League Gold Cup and the AIA Champions League Gold Cup. This recognition highlights Philam Life’s outstanding performance in achieving its growth targets specifically in new business and annualized new premiums. The award also recognized the company’s leadership style that focuses on continually improving the quality of the company’s business.

Philam Life’s recent milestone reflects the robust performance of the local insurance industry, which also grew significantly last year. According to data from the Insurance Commission, total industry premium income ballooned to P135 billion as of third quarter of 2013 from P82.6 billion in the same period in 2012.

Improving financial literacy

With bigger milestones in store for 2014, Philam Life sustains its commitment as The Real Life Company that is genuinely engaged in real people’s lives through meaningful dialogue, and empowers them to achieve financial security and prosperity by providing solutions and plans that turn their real-life struggles into success.

To enable their clients to turn dreams into reality, the life insurance leader bared plans to drive financial literacy programs in key markets through strategic partnerships. “This year, Philam Life will reach out to more Filipinos through our financial planning programs in tandem with partners from key sectors — OFWs, parents, entrepreneurs and employees,” said Abaya.

Abaya also shared product plans for the year. “Right now, only 16 percent of Filipinos say they’re financially prepared for health setbacks. And since Filipinos still prefer unit-linked products especially after the country was upgraded to investment grade, Philam Life will launch a unit-linked health product early this 2014 to address this key yet unmet need,” she added.

Rey Centeno, Philam Life Chief Operating Officer, noted that there is a lot of opportunity to increase insurance penetration in the country especially given the Philippines’ demographic window which is expected to begin in 2015 and last until 2050. 

“Data from the National Statistical Coordination Board projected a population of almost 103 million Filipinos by 2015, of which more than 65 million will be aged 15 to 64. The United Nations defines demographic window as the period “when more people or a prominent portion of the population is of working age,” Centeno said.

Financial planning made easy

According to a Philam Life Brand Tracking Study in 2010, limited accessibility is a key barrier for Filipinos who do not own a life insurance policy. Another significant barrier is the apparent complexity of how insurance works (Philam Life Consumer Study 2010).

To bridge this gap, Philam Life commits to make financial planning easier and more accessible for more Filipinos by launching new programs and applications. The nine-time Reader’s Digest Asia Platinum Trusted Brand award winner is set to become the first local insurance company to use an iPad-based Interactive Point of Sale (iPoS) — a paperless platform that allows proposal presentations, filling out of policy owner details, and even signing of applications to be done through the financial adviser’s iPad.

The company is also launching ePlan, a convenient customer self-service online facility for policy inquiries, transactions and payments. Philam Life policyholders can now choose to go online, instead of calling the hotline, for faster and real-time transactions. 

“We at Philam Life are dedicated to making dreams and goals real for our clients,” Abaya said. “Regardless of what their Chinese zodiac forecasts say, Philam Life is dedicated to empower more Filipinos to achieve financial security and rein in prosperity this Year of the Wood Horse.”

For more information about Philam Life, log on to www.philamlife.com.