FWD Life Insurance (FWD Philippines) has introduced a new product, Set for Life Plus, an investment-linked insurance plan designed to provide both life protection and financial growth opportunities.
The launch of the new product comes at a time when a significant portion of the Filipino workforce faces career uncertainty. According to the Philippine Institute of Development Studies, 30% to 40% of employed individuals are working in jobs unrelated to their academic degrees. Additionally, evolving aspirations and economic pressures are leading more Filipinos to delay traditional milestones such as marriage and parenthood.
The Set for Life Plus plan offers robust life protection benefits along with a Start-up Bonus of up to 25%. It also includes a one-time Guaranteed Milestone Increase that can be triggered when policyholders reach key life milestones, including marriage, childbirth, graduation, property acquisition, retirement, or the 10th anniversary of the policy.
Additional features of the plan include a Loyalty Bonus, awarded in the 10th year and every five years thereafter, and a 2% Premium Extension Bonus for those who continue premium payments beyond the required period. The policy also provides coverage for accidental death and includes premium waiver benefits. For added flexibility, policyholders have the option to further customize their coverage, with options for hospital cash benefits, critical illness coverage, and enhanced life protection.
This comprehensive offering aims to address the changing financial needs of Filipinos in an uncertain economic landscape.
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