First Life launches new insurance project

MANILA, Philippines - First Life Financial Co. Inc. has launched a new investment-linked life insurance product called 1st Investment Plus. The product is designed to meet both the insurance and investment needs of a policyholder and provides him with the flexibility to choose where to place his investment depending on his risk profile. “First Life introduces 1st Investment Plus to its menu of responsive products given its market’s wide demography and changing needs. Our current and future clients can choose from products that offer pure insurance protection and to those that make their money work for them, and reap the investment rewards,” Peter Coyiuto, First Life president and chief executive officer, said. 1st Investment Plus will provide policyholders with life insurance protection up to age 99 for a minimum “one-time” cash outlay of P50,000. Likewise, it gives policyholders the option to invest in their funds in 1st Peso Bond Fund, 1st Peso Balanced Fund, and 1st Peso Equity Fund. BPI Asset Management and Trust Group will manage the funds. First Life is one of the country’s leading providers of employee benefits products and services, with a total coverage amounting to P96 billion, and 1.5 million lives covered as of end-May 2011. With its over half a century of service to the industry and the country, the company has paid a total of P2.1 billion in benefits. First Life is also the local pooling network partner of The Dai-ichi Life Insurance Co. of Japan.