Politics

FWD Life Philippines launches new investment-linked insurance product

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FWD Life Insurance Corp. (FWD Life Philippines) has launched a new investment-linked insurance product with yearly payouts for a limited time as part of its 10th anniversary.

FWD Golden 7 is a one-time payment plan that offers 4% annual payouts for seven years and 100% return of premiums at the end of the 7th year, as long as no death benefit has been claimed, the insurer said in a statement on Friday.

The policy beneficiary is also guaranteed a death benefit amounting to 125% of the single premium or 105% of the account value, whichever is higher, it said.

“Most investments and investment-linked insurance policies typically take time to generate returns, depending on market conditions… But with FWD Golden 7, our customers get 4% payout right after the first year and continue to do so annually for seven years,” FWD President and Chief Executive Officer Antonio “Jumbing” G. De Rosas said.

“Through FWD Golden 7, Filipinos can be protected from life’s uncertainties while getting extra value with annual payouts. This way, they can build their best future by earning and enjoying the benefits of their insurance plan, even if they don’t make a claim,” he added.

FWD Golden 7 is available until maximum product allocation is reached.

Its one-time premium starts at P500,000 and it is available to individuals aged 15 days old up to 70 years old upon issue date.

FWD Life Philippines’ premium income stood at P24.26 billion at end-2023, based on latest data from the Insurance Commission.

The life insurer booked a net income of P1.22 billion last year. — A.M.C. Sy