MANILA, PHILIPPINES – If there was one thing we learned from 2020, it’s making sure that health is a top priority. The rising number of cases and deaths caused by the pandemic served as a wakeup call for Filipinos to safeguard their family's wellbeing.
In a recent online event held for the media, AIA Philam Life tapped its protection ambassadors Gary Valenciano, his son Paolo Valenciano and wife Sam Valenciano, to share their personal stories of protection and the importance of passing on the legacy of protection to the younger generation.
Protection is at the core of AIA Philam Life’s mission—to race against risk and protect every Filipino family and empower them to live healthier, longer and better lives. In fulfillment of this mission, AIA Philam Life launched innovative products within the last two years, referred to as the Protection Trinity, designed to help address the basic protection needs of Filipinos: life, critical illness, and medical.
AIA Critical Protect 100 was launched in 2019, providing coverage from 100 critical illnesses, from age 0 to 100. Within the same year, AIA All-In-One was introduced—an affordable non-participating whole life insurance plan which provides financial protection from death, accident, disability, and critical illness, offering comprehensive and guaranteed protection benefit against risks (including natural calamities and riding public transportation) that may be experienced now or in the future.
Last year, the trinity was completed with the launch of AIA Med-Assist, designed to help manage the financial burden of Filipino families due to unexpected medical expenses. AIA Med-Assist bridges the expense gap between HMO and life insurance coverage to ensure savings remain untouched despite hospital confinement for more than 12 hours.
To further strengthen its Protection Trinity portfolio, AIA Philam Life recently launched the newest addition, AIA Health Cover, a peso-denominated variable life insurance plan which provides all-around health and critical illness protection. Tennyson Paras, AIA Philam Life Head of Products, explains, “In developing AIA Health Cover that offers comprehensive health and protection benefits, we give Filipinos a product that can cover them in case they are diagnosed with any of the 91 critical illnesses or get benefits like a daily allowance if they are hospitalized for at least 24 hours.”
Leo Tan, AIA Philam Life Chief Marketing Officer, shares the rationale for the development of the Protection Trinity portfolio, “With the huge protection gap in the country coupled with the low insurance penetration rate, there’s a lot of work to be done in the fulfillment of our mission of racing against risk, and developing the Protection Trinity products was one of the best ways we can achieve that. This is the basic financial need that Filipinos have not been paying attention to these past few years, and with the pandemic bringing into focus the importance of protection, we want to make sure we are offering them the best and complete suite of products to meet that need. By making sure that we have the right products, we go a long way in helping our customers live Healthier, Longer and Better Lives.”
Know more about AIA Health Cover and AIA Philam Life’s protection products by visiting the AIA Philam Life website at philamlife.com, Facebook page at https://www.facebook.com/AIAPhilamLife/, email philamlife@aia.com or call (02)8528-2000.
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About AIA Philam Life
The Philippine American Life and General Insurance Company (AIA Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, AIA Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
AIA Philam Life has PHP291.38 billion in total assets as of 31 December 2019, while serving over 500,000 individual policyholders and over 1,500,000 insured group members.
AIA Philam Life understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries—BPI-Philam Life Assurance Company (BPLAC) and Philam Asset Management Inc. (PAMI).
AIA Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
About the Philam Group
The Philam Group comprises the biggest life insurance company in the Philippines. By putting its customers at the center of its operations, the Philam Group has earned the trust of its stakeholders and has achieved continued growth over the years.
The Philam Group was formed with the mission of empowering Filipinos to achieve financial security and prosperity. Through its strong network, it is able to offer financial solutions such as life protection, health insurance, savings, education, retirement, investment, group and credit life insurance, and fund management products and services.
After the establishment of AIA Philam Life in 1947, the Philam Group has since expanded to include other affiliate companies, namely: BPI-Philam Life Assurance Company (BPLAC), Philam Asset Management Inc. (PAMI), Philam Call Center, and Philam Foundation.
Based on the Insurance Commission results as of 31 December 2019, the combined total premium income of AIA Philam Life and BPLAC is at PHP33.87 billion. Its strength and stability is solidified by AIA Philam Life’s assets at PHP291.38 billion, and net worth at PHP88.94 billion. It is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR(2), New Zealand, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$291 billion as of 30 June 2020.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
Media Contact:
Abbie L. Remo
AIA Philam Life Head of Corporate Communications and PR
Telephone: +(632) 521 6300 local 2812
Email: Abbie-D.Remo@aia.com
