Wednesday, March 26, 2008 Investment funds attract more yuppies in BPOs, overseas Pinoys
CEBUANOS are now more open to participate in high-yield investments as opposed to saving up in a bank.
This, according to Rachel Garces, area marketing officer for Central and Eastern Visayas of Philamlife-Cebu. She said that after Philamlife launched the AIG Asset Builder Plan early this month, other insurance companies followed and came up with a similar product.
“Most people are now more concerned about investment compared to saving in a bank where you only get two percent interest less tax,” Garces said.
But while many Cebuanos now want to invest, Garces said that there is still a need to educate people how to use their money wisely.
Since Philamlife offers its new product to the middle-income market and young professionals, it has offered free wealth management seminars to call center employees.
Those working in business process outsourcing companies (BPOs), mainly call centers, comprise a large segment of the young professional market.
Garces said that during the seminars, Philamlife officials were “alarmed” when these highly-paid workers considered “going to Boracay” as their short-term goal.
So Philamlife included goal-setting workshops and consultations in such seminars, she said.
Aside from BPO workers, Philamlife also offers pre-departure seminars to overseas Filipino workers (OFWs) to advise them how to make use of their earnings abroad, through the different investment options available to them “so that they will not become OFWs forever.”
The AIG Asset Builder Plan is one of the available investment options for OFWs and other interested individuals.
The plan features a guaranteed life protection policy and allows a group of fund managers to invest one’s money in different high-yielding investment funds, which were initially available only to large investors.
Returns of investments depend on the performance of one’s chosen funds—be it securities, bonds or equities. (DME)
