Thursday, November 30, 2006 Ayala Life launches Maestro plan in CDO By Danilo V. Adorador III
INSURANCE giant Ayala Life Wednesday launched in Cagayan de Oro its newest plan -- the Maestro series -- which the company says will capture a broad range of clientele with its flexible terms, affordable pricing scheme and no-hassle sign up feature.
Available in three variants -- Luna, Joya, and Manansala -- Maestro's abundant features aim to capture a large segment of the insurance market in the country which now stands at a dismal four percent, said Emilio S. De Quiros, Ayala Life President.
"At four percent insurance coverage rate, the Philippines lags behind other countries in Asia in terms of appreciating the value of being insured," said De Quiros. "This is why we came up with a smart product that we believe will appeal to the general public."
The Maestro series enables clients to choose to pay for five years to eight years -- the payment scheme for Maestro Manansala and Maestro Joya respectively, or decide on Maestro Luna, which guarantees lifetime insurance coverage for a lifetime paying period.
Another feature that makes the Maestro series attractive "is that you are only asked one simple question that sums whether you are healthy," said Angelo M. Cabrera, Ayala Life vice president.
"We removed the usual hassles of having the clients answer many questions in the application form. This is the first in the insurance industry, and this is the beauty of this plan--it's simple," Cabrera said.
Ayala Life, being a subsidiary of the country's first bank -- the Bank of the Philippine Islands (BPI), "means the clients have at their disposal the bank's enormous payment facility for easy and comfortable business transactions," he added.
Existing policy holders can avail of the Maestro series as an add-on plan for greater security, he said.
Meanwhile, De Quiros sought to dispel the perceived public apprehension on the insurance industry, brought about by the instability of the pre-need sector that has left thousands of education plan holders in deep trouble.
"Our sales, in fact, have grown in the past years, even at the height of the pre-need controversies. We assure them that they are doing business with a reputable, time-tested company with over 100 years of business experience and has been proven not only at making promises but also on delivering those promises."
