Variable Universal Life Insurance or commonly known as VUL is a life insurance and investment combined into one package. In addition to an investment component, it offers benefits for life, death, and disability. And because it provides financial protection whether the policyholder dies too soon or lives too long, VUL is a well-liked financial product in the Philippines. It can also be passed on to your beneficiaries in the event of your early death. If you retire in your senior years, you can finance your retirement with the investment earnings from your VUL plan.
Numerous VUL products are offered by reputable insurance providers in the Philippines. A minimal monthly investment in a VUL policy ranges from P1,500 to P3,000. The premiums are paid and kept for a considerable amount of time—usually five to twenty years.
6 Popular VUL Insurance Products in the Philippines
1.) Sun MaxiLink Prime (Sunlife)
With the combined benefits of insurance protection and investment, Sun MaxiLink Prime is an investment-linked life insurance plan that gives you financial security and peace of mind while your money grows over time. It gives you the ability to save money through a realistic payment schedule and gives you the choice to potentially increase your starting savings for greater growth potential. This can assist in financing long-term objectives or other significant life events.
2.) Wealth Assure Plus (Insular Life)
You may direct your life’s path with Wealth Assure Plus, a personalized insurance package with an investment component. With a strategy that takes into account your financial priorities and satisfies your demands for investment, savings, and life and health insurance.
3.) Invest Peso Max (BPI AIA)
Invest Peso Max is a life insurance and one-time payment investment package that makes insuring a good financial future simple. Increase the earning potential of your assets while you save for retirement and take advantage of life insurance. It enables you to grow your money, ensure the financial future of your family, and have full control over your plan and savings. Accidental and health add-on’s can be included in the package.
4.) Life basiX (AXA Philippines)
You can benefit from the versatility of having protection and investment in one product with AXA’s life basiX. Protect your family from losing your money if you pass away unexpectedly. In addition, AXA’s professionally managed funds offer greater investment growth potential that can be put to use for future requirements. With Life basiX you can:
- Protect your family from financial troubles with a life insurance policy beginning at P400,000.
- Pay for at least ten years.
- To safeguard your future expenses, gain access to highly performing, professionally managed funds.
- To enhance your earning potential even further, make additional investments totaling at least P5,000.
- Enjoy loyalty bonuses that are assured.
- Free switching between different AXA funds.
- Make withdrawals for unforeseen personal expenses.
5.) FutureBoost (Manulife)
Manulife’s FutureBoost is an inexpensive life insurance plan with investments that is created to work with you and give you bonuses so you can be protected in every stage of your life. Get rewards for paying on time, paying extra, and remaining a loyal customer on your plan to increase the growth of your funds.
You have the opportunity to further raise your coverage whenever you need to by adding several add-on protection features. You’ll also have access to a range of professionally managed funds to take advantage of regional and international growth opportunities.
6.) Set for Life (FWD)
With Set For Life VUL Insurance, you’ll grow your savings account for retirement or your child’s education needs, as well as for lifetime protection and investment. Your money is invested in a variety of funds, some of which may offer greater returns than a conventional savings account. You can even waive your future payments if you are diagnosed with a serious disease or a permanent handicap in order to focus on your health. Aside from additional upgradeable insurance coverages, the package includes accidental death insurance and life insurance that may last until age 100.