BPI-Philam launches investment-linked life insurance with health coverage

BPI-Philam is combining the protection of life insurance, health insurance, and investment in its latest product. The bancassurance company has launched its MedLife Protect Plus to make it easier for Filipinos to brave the new world with health security and protection against unpredictable circumstances.

MedLife Protect Plus is designed to provide considerable protection and better access to medical care with minimal out-of-pocket expenses. It is an investment-linked life and health insurance that provides considerable protection and better access to medical care with minimal out-of-pocket expenses.

“MedLife Protect Plus provides policyholders with protection from financial setbacks due to health matters, all while allowing them to build and expand their wealth,” said BPI-Philam President and CEO Surendra Menon. “This is BPI-Philam’s way of following through its commitment to help Filipinos to live better, healthier, and longer lives as it helps address certain constraints that may be holding them back from bringing their dreams to life.”

Bundled with healthcare benefits

This new insurance product was created in collaboration with healthcare administration firm AVEGA. Thus, it is bundled with medical benefit riders, offering the combined protection of life insurance, health insurance, and investment. For hospitalization claims, policyholders can access quality healthcare and receive medical benefits coverage with a maximum limit of P4,000 annually—covering basic in-patient hospitalization, critical care, surgical benefit, and medical emergencies leading to confinement.

MedLife Protect Plus also provides a daily hospitalization income benefit of up to P3,000 daily. Its life insurance coverage can be equivalent to the plan’s Face Amount, the Account Value, or the Minimum Guaranteed Death Benefit, whichever is the highest.

You can even opt to integrate it with the Philam Vitality Program for additional benefits. Doing so would provide more coverage upon death, total and permanent disability, personal accident, and critical illness. Philam Vitality is a science-backed health and wellness program bolstering protection coverage by up to 50% and providing rewards from partner establishments.

 

As an investment product

As investment-linked insurance, MedLife Protect Plus provides built-in cash value that enables policyholders to enjoy passive income yields through professionally managed investments, all while securing their lives and health.

Policyholders may gain potentially higher earnings from investments in the local stock market and other avenues. While the return of investments will depend on the performance of the market, BPI-Philam boasts of the expertise of Bank of the Philippine Islands (BPI) subsidiaries in handling financial investments. Assets are well managed only by the most experienced and industry-leading professionals in the country.

Buying a policy

“Given the uncertainty of the times, BPI-Philam further strengthens its race against risk by developing products that aim to fill the still huge protection gap in the Philippines. With benefits that stretch from financial to health security that covers both the policyholders and their families, MedLife Protect Plus allows Filipinos the financial flexibility and freedom that enable them a financially sound future,” said Menon.

True to its mission of making insurance accessible and affordable to all, BPI-Philam makes MedLife Protect Plus readily available online through virtual appointments with their Bancassurance Sales Executives (BSEs) and secure digital selling tools to keep everyone safe amid the pandemic. Clients can also visit any open BPI branch (Mondays to Fridays, 9 a.m. to 2 p.m. during quarantine) across the country for those who need or prefer personal transactions. MedLife Protect Plus premiums start at only Php1,251 per month, payable until the age of 65, with benefits coverage until the age of 80. Terms and conditions apply.

Share this story now!