VISA ENDOWNMENT PLANS
There is virtue in delayed gratification. That is why you work harder than most, knowing well that you stand to reap the proverbial fruits of your labor later.
But why are you keeping your well-earned money in banks, when the income you stand to gain won’t be enough to provide for the life you dream of having years from now?
- PhilLife knows you deserve to get more. That is why it designed the Valuable Insurance and Savings Accumulator (VISA), a set of top-notch life insurance endowment plans that does not only give you the life insurance you need, but also offers cash value that yields more exciting returns for your life investment.
- PhilLife’s VISA has a fine selection of plans that fits different age groups of policyholders. Each VISA plan comes in the form of various waiting—also called maturity—periods. The longer you’re prepared to wait, the bigger cash benefits that are in store for you.
- All VISA plans come with a built-in rider called TERMINAL ILLNESS BENEFIT. This is an added protection, where PhilLife can advance half of insurance face amount (maximum of P 2 million) in case the insured is diagnosed with a terminal illness. This is PhilLife’s way of being there for you and your family, especially in your direst situations.
- Issuable to persons 0 to 60 years old
- 5 years payment period + 35 years waiting period = 40-year maturity period
- Issuable to persons 0 to 70 years old
- 5 years payment period + 15 years waiting period = 20-year maturity period
- Issuable to persons 0 to 65 years old
- 5 years payment period + 10 years waiting period = 15-year maturity period
VISA 5 Plus
VISA 5 Plus is a product specifically tailored for people up to 65 years old who want to get their reward sooner while getting both insurance coverage and the high yield promised by this investment. VISA 5 Plus lets you get your cash benefit in as short as ten years (five year payment period followed by a five-year waiting period). At the end of the 11th year, PhilLife will start paying you part of your maturity benefit through anticipated endowment until it fully pays you the full amount on the 15th year. In all those 15 years, you will remain covered by VISA 5 Plus insurance protection.
VISA College Plan
VISA College Plan is another PhilLife endowment product that’s created especially for parents who want to dedicate the rewards of their life’s work to their kids. This plan can be availed by parents with children aged 0 to 10 years. Just like all VISA plans, premiums for the VISA College Plan can be paid over a period of five years. After this, PhilLife will start giving you the maturity benefit through anticipated endowment of your policy’s face amount when he or she turns 18 years old—up to his or her 22nd birthday. It has built-in Terminal Illness Benefit rider that comes FREE with all VISA Plans.
You also have the choice of adding more features to your plan, specifically for VISA 40, VISA 20, VISA 15, and VISA 5 Plus with the following riders:
- Waiver of premium due to total and permanent disability up to age 60 (can be issued to payors aged 18 – 55 years old).
- Accidental death benefits up to age 65, which gives your beneficiary 200% of the face amount of your insurance in case of death due to accident. (can be issued to payors aged 10 – 64 years old).
- Payor’s clause, where PhilLife waives future basic annual premiums of the minor insured’s policy if the payor of the insurance becomes disabled or passes away (attachable to policyholders age 0-17).
- MEDICASH benefit for 5 years or up to age 55 (whichever comes first). This privilege gives you 180 days per year of daily hospitalization income benefit, 45 days per year of ICU confinement benefit, and surgical allowance up to P10,000 per year (can be issued to policyholders aged 20 – 55 years old).
- Hospitalization Daily Income Benefit. In case you will need year-long confinement, this benefit gives you hospitalization allowance every single day you spend in the hospital. Apart from this, you also stand to receive surgical allowance up to P10,000 per year. (can be issued to policyholders aged 20 – 55 years old)