Insular Life (InLife), the country’s first and largest Filipino life insurance company, launches its new agency model to better respond to the growing and changing consumer needs for life and health protection and investments.
“We recognize that due to the COVID-19 pandemic, more Filipinos have become aware of the importance of financial planning and life insurance. We see that this heightened awareness translates into a higher demand for both life and health protection products,” InLife President and CEO Raoul Antonio E. Littaua said.
“And as we gradually ease out of the pandemic, we see that the demand for lifetime guaranteed income will become more urgent. The need for protection from the risks of dying too soon, living too long, and catastrophic illnesses – which are all within the province of the life insurance business – will be a pressing need in the future as they have ever been. InLife takes this into account as we offer insurance with investment products during these uncertain times,” he added.
The new InLife Agency Model (I AM) features Wealth Assure Plus, a customizable life insurance product with investment component to provide higher protection benefit equivalent to a minimum of 10x the annual regular premium or the policy’s fund value, whichever is higher. Wealth Assure Plus provides faster fund growth because of its low insurance cost, at the same time is anchored on different investment outlets locally and globally. This product may be personalized through attachment of various needed benefits, set-up of preferred payment and payout options, and access to fund selection to suit different risk appetites and investment horizons.
To reach more customers with Wealth Assure Plus, I AM also encourages Filipinos to pursue the financial advisor career, and to share the company’s purpose to help more Filipinos achieve their financial goals and prepare for unforeseen events. The model primarily targets young women professionals, generation Y (millennials), generation Z, high-net-worth individuals, and returning overseas Filipinos to join the life insurance business.
I AM is set to change the game in the local business landscape by offering the most attractive commission and a flexible agency structure to empower financial advisors to grow their insurance business according to their desired career path as individual producer, unit manager, or agency head.
“InLife financial advisors will enjoy a one-of-a-kind compensation package in the industry under I AM. They are provided with the blueprint to succeed in the business through our industry-leading in-house Learning Academy. They are also enabled with the latest digital end-to-end sales tools and are afforded with foreign travel opportunities as part of our comprehensive Agency Recognition Program,” Littaua said.
InLife financial advisors amplify the company’s mission to provide “A Lifetime for Good” to Filipinos through financial planning.
“Our financial advisors are in the unique position of being able to cover the full range of protection needs: from individual life insurance and group insurance, to health protection and even non-life insurance. Their sales commitments are supported by InLife’s 111 years of uninterrupted service to our policyholders and strong focus on our customers,” Littaua added.
