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Affordable life insurance for middle class people

Subsequently a study that demonstrated only 13.9 percent of Filipinos own a life insurance plan, insurance premiums are now presented at an inexpensive price targeting the middle class.
From a very luxurious insurance premium, a non-insured Filipino can previously avail of a life insurance for less than P500 per month, allocated for a period of 10 years. One of the leading insurance companies, Sun Life Financial, offers its most recent product Sun Startup which is an inexpensive, value-for-money creation that answers young Filipinos’ need for financial fortification.
“We used to cater the A and B market, but considering the need to teach and defend more Filipinos, thus, we offered this new product,” said Joub Miradora, Sun Life’s Institution Marketing Manager. One of the three basic reasons unconfined by the 2008 Insurance Commission Annual Report for having a low insurance infiltration in the country is the general notion that insurance is thorny and only for the wealthy people.
This has pressed the said company to come up with a product that targets a superior number of Filipinos wanting to secure their family’s future with a life insurance product that they can easily have enough money. It also started in 2009 an advocacy which aimed to elevate consciousness of more Filipinos on the significance of life insurance after a series of news stories that guide the industry into a bad light.
Survey showed that through the “It’s Time” support and education drive, 79 percent of interviewed Filipinos started thinking about financial plans and 67 percent wanted to acquire a financial product. The company received positive and positive blogs about how It’s Time has helped professionals and people of all ages appreciate the significance of planning untimely for the future.

This entry was posted on Tuesday, August 10th, 2010 at 7:31 am and is filed under Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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