Insurance Plan for Two

Philam Life, one of the largest life insurance companies in the Philippines, has introduced Active Joint Critical Protect, a new health and life insurance product for two that allows customers to jointly cover themselves and a loved one.

The “insurance plan for two” is the first of its kind in the Philippines, which allows people to purchase coverage for themselves and a loved one – whether a spouse, parent, sibling or child. The plan is purchased for 10 years at a time and offers protection from common critical illnesses including heart attack, stroke and cancer. After 10 years, and if no claims were made, the policy automatically renews for another 10 years until an insured reaches 75. Coverage is claimed on a first-to-die or first-to-be-diagnosed basis – there is a single payable amount for either death or critical illness of either of the insureds and once this is paid out the plan ends and no other benefits will be payable.

In addition to the coverage, the new plan also comes with the Philam Vitality wellness program, which encourages healthy living by rewarding policyholders.

“Back then, the insurance industry usually talked about dying and our promise was, if you die, we pay you. But the conversation has changed and we now talk about living better .” – Head of Branding and Communications at Philam Life, Bernadette Chincuanco.