AIA Philippines Life and General Insurance Company Inc. (AIA Philippines) and its bancassurance arm, BPI AIA Life Assurance Corp., have launched new flexible variable universal life (VUL) insurance plans aimed at helping Filipinos achieve financial security amidst daily living demands. The new offerings, "AIA Goals Protect" and "BPI AIA Prosper," are designed to combine life insurance with investment growth opportunities.
The move comes as AIA Philippines' "Rethink Healthy" study revealed that 41 percent of Filipinos feel overwhelmed by the challenge of juggling financial security with daily life.
“AIA Goals Protect provides an easier way for them to invest in their future while adapting to their changing needs, offering the best of both worlds: enjoying life now while building a secure future,” said Melita Teo, president and chief executive officer, AIA Philippines.
“Similarly, BPI AIA Prosper empowers individuals to tailor their financial well-being, from boosting health coverage to securing their family's future.”
Both plans aim to address a key concern from the AIA study: that many Filipinos worry about the future even with existing savings and insurance.
They combine life insurance with financial solutions tailored for goals such as buying a home, funding education, or preparing for retirement.
AIA Philippines research indicated that 65 percent of Filipinos rely on personal savings for health emergencies, often derailing long-term goals.
The new VUL plans are designed to alleviate this burden by blending protection with fund growth. / KOC