Philam Life offers Money Tree

MANILA, Philippines - The Philippine American Life and General Insurance Co. (Philam Life) is offering Money Tree, which provides insurance protection as well as investment options.

Money Tree is a one-time payment, life insurance-and-investment plan whose various funds have yielded returns of as much as eight percent to 15 percent per annum.

Philam Life officials said that Money Tree comes with guaranteed life insurance coverage of at least 125 percent of initial payment, regardless of market conditions.

Anthony Bernabe, vice president for marketing of Philam Life said that the new product gives Filipinos the opportunity to invest in high-performing funds that take advantage of the Philippines’ booming economy.

Investment professionals manage the funds to help grow the insured money in the long-term.

“Moreover, whether you’re a conservative investor or have a strong appetite for risk, Money Tree can adjust to your risk-profile as it gives you the following funds to choose from: the less-volatile fixed-income fund, the high-risk, high-reward equity fund, or a mix of both,” Bernabe added.

He said that Philam Life has empowered Filipinos the past 65 years, and it remains at the forefront of nation-building.

“The Philippines is at a unique and enviable position right now, and our growth prospects over the next several years are quite positive. Philam Life wants to empower more Filipinos to greater financial prosperity and security through Money Tree, helping them take advantage of the country’s economic boom,” the vice president added.

Meanwhile, Philam Life senior vice president and chief investments officer Ayen Guevara notes that majority of Filipinos are failing to take personal advantage of the country’s economic boom, largely due to the lack of knowledge and financial literacy.

Guevara referred to recent data from the Bangko Sentral ng Pilipinas (BSP), which shows that P4.1 trillion are “sleeping” in the banks in the form of savings accounts and time deposits, which earns only 0.375 percent and 2.75 percent per annum, respectively.