Monday, May 12, 2008 Philamlife releases P268M of scholar education benefits
THE Philippine American Life and General Insurance Company (Philamlife), announced that it has started releasing the first tranche of education benefits for Philamlife scholars in all its branches nationwide.
A total of P296 million in the form of bank checks, and Banco de Oro cash cards are ready for disbursement to the parents of 33,505 Philamlife scholars starting the first week of May.
“The benefits are intended for the tuition fees and other enrollment expenses of the scholars covered by Philamlife’s various education insurance products.
The timely release of these benefits will allow parents to enroll their children for the first semester of school year 2008-2009,” said Philamlife Deputy president and chief operating officer Michel Khalaf.
Philamlife has consistently paid-out education benefits to its more than 200,000 through the years. Over the last five years (2003-2007), Philamlife has released a total of P1.75 billion in scholar education benefits. The company started paying-out these benefits as far back as May 1992.
Since Philamlife launched its first education insurance product in December 1985, it has continuously enhanced its education pro-ducts to fulfill the needs of the changing market. With the launch of the New Generation Products last year, Philamlife offered another innovative education solution with Brilliance.
Philamlife’s Brilliance is a customized education plan, available in both peso and dollar, which guarantees the child’s high school and college education. The product’s features and benefits provide the complete package for the Payor and the child with life insurance coverage, accident and health coverage, contingent education fund and even dividend earning to boost the child’s education benefits or increase his insurance protection. With the increase in tuition fees averaging 10-20 percent annually, Philamlife’s Brilliance is the wise choice for a secured future.
Scholar recipients will be notified through the local branch where they can claim their checks. Philamlife Agents can also assist policy owners in getting these benefits.
Philamlife is an AIG Company. American International Group, Inc. (AIG) is a world leader in insurance and financial services.
