InLife Launches Women-Specific VUL Product
Insular Life recently launched a new and female-specific product that can be customized according to the preference of the customer, making it the first of its kind in the market.
Called “SheCares”, this product combines life insurance, investment, and health insurance into one plan. It is also customizable which means that the product allows the insured the option to choose which lifestyle and life stage health cover she wants to be included in her policy, such as women-specific cancer, or all types of cancers, heart attack, and stroke.
“The beauty of having a customizable product like this is that our clients are not tied up to paying for health coverage that they don’t even need or want in the first place. With SheCares they can now choose the health coverage that fits their lifestyle, life stage or even their medical concerns,” said InLife President and CEO Mona Lisa B. Dela Cruz, in a product launch and press briefing held recently.
SheCares can be issued to women between 20 to 60 years old with health riders until 70 years old. The benefits can be acquired until age 99 for as long as there is fund value. As a VUL product, part of the premium goes to growing the fund in the various portfolios under the management of InLife.
“With SheCares, our women-clients may cash-in on the accumulated fund value in the future. No other insurance product like this is in the market,” Dela Cruz said.
“We are happy that the IC has found our latest offering to be in order,” said InLife Executive Chairman Nina D. Aguas. “This is a significant milestone for us because this is our first product under our Sheroes program.”
The InLife Sheroes program is part of Insular Life’s broader strategy to empower Filipino women to achieve a better life through it four support areas of financial literacy, health and wellness education, women-specific solutions and connection to business and social networks.
“As a Filipino financial institution, we will contribute to the financial inclusion agenda for women in our country. We will provide protection and risk-mitigating solutions to women along with investment opportunities. Our aim is to help Filipinas survive the loss of income or an unforeseen event,” said Ms. Aguas.
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