3. Pre-Need…
… and since
is about
solving a itdefinite need or
we know will happen,
problem long before the need arises.
why not prepare for it before it
happens?
… revolves around the idea that in life,
… Pre-Need is about providing a
there are future events that will
happen way before a problem exists
solution which will create problems
for the family.
4. What Definite Problems are we
bound to face?
1.
The need for education to improve
our standard of living
2.
Old Age
3.
Death
5. How Will You Solve These
Problems?
Wait until the problem happens?
Bahala na?
You’ll cross the bridge when you get
there?!
At-Need Solutions
6. Solving it the At-Need Way
1.
2.
3.
4.
You are under pressure.
You are in a hurry.
You are emotionally disturbed.
Other problems and worries come into
play.
5. Some people will take advantage of
your emotional state.
6. Somebody else is making the decision.
7. How Should You Solve These
Problems?
Find a solution before the problem
happens.
Do not leave it to chance.
Face the reality NOW and do it before
the time of need!
Pre-Need Solutions
8. Solving it the Pre-Need Way
1. You are in a normal state of mind.
2. You are not in a hurry.
3. You are not emotionally disturbed.
4. You are able to make good choices.
5. You are free from the tension and
anxiety because you are secured.
6. You make the correct decision.
9. A Pre-Need Agent sells
• Peace of Mind
• Investment
• Protection
• Assurance
10. Having a Pre-Need Plan Means…
• You care for your loved ones
• Fulfilling your responsibility
• Comfort and convenience
• Keeping your pride and dignity
• Financial security in the future
11. Think about this:
It is better to
have a plan and you don’t need it
than to
need a plan and you don’t have it!
13. One of the in the Securities and Exchange
• Registered leading Pre-Need companies with more
than 300,000 planholders
Commission on April 19, 1989
• PhP37.9B* Trust Fund
• Formerly known as Philam Plans, Inc.
• PhP700M in paid-up capital
• PhilsFirst, Inc and Systems Technology Inc.
• acquired all the shares of amounting to Inc.
With total paid benefits Philam Plans, PhP2.3
from Philam Life in September, 2009.
Billion as of 2011
*audited as of December 31, 2011
14. PhilPlans Market Share
Against Life Insurance Companies
(Based on Premium Income = First Year + Renewal Premiums)
Company
1
2
3
4
5
6
7
8
9
Premium Income
Sunlife
Philam Life & Gen.
Phil. Axa
Pru Life
Insular Life
BPI-Philam
Manulife (Phils)
SunLife Grepa
United Cocolife
10 PhilPlans First Inc.
13,884,308,644
13,507,442,515
9,983,494,021
9,900,022,868
7,483,646,727
6,420,399,324
4,994,562,292
3,048,820,156
2,916,473,766
1,313,798,853
Source: Business World Top 1000 Corporations & Insurance Commission
15. PhilPlans Market Share
Against Pre-Need Companies
(Based on Premium Income = First Year + Renewal Premiums)
Company
2011
2010
Market Share
1 St. Peter Life Plan, Inc.
3,866,883,000
2,898,200,856
43.20%
2 First Union Plans, Inc.
1,388,860,373
278,699,787
15.51%
1,313,798,853 1,404,139,332
14.68%
3 PhilPlans First, Inc.
4 Sun Life Financial Plans, Inc.
645,544,058
935,665,978
7.21%
5 Manulife Financial Plans, Inc.
631,128,907
738,776,829
7.05%
6 Loyola Plans Consolidated, Inc.
455,057,838
526,912,521
5.08%
7 Eternal Plans, Inc.
244,261,385
200,901,518
2.73%
8 APEC
200,024,000
219,496,000
2.23%
69,076,320
125,410,174
0.77%
10 Transnational Plans
67,497,437
91,993,775
0.75%
11 Himlayang Pilipino Plans, Inc.
61,793,000
72,061,225
0.69%
8,213,200
12,400,583
0.09%
8,952,138,371
7,504,658,578
9 Ayala Plans
12 Paz Memorial Services, Inc.
Total
Source: Business World Top 1000 Corporations & Insurance Commission
16. PhilPlans Ranking
Against Pre-Need Companies
(Based on Net Income = Total Profits – Total Expenses)
COMPANY
PhilPlans First Inc.
NET INCOME
(PHP in Million) % Change
1,647
St. Peter Life Plan, Inc.
Sun Life Financial Plans, Inc.
Generali Pilipinas
545
12
251
62.9
88.5
-38.5
The leading pre-need company in the country with
40.1 Billion in Trust Funds
(unaudited as of October 2012)
N.B. In BusinessWorld’s 2011 Top 1,000 Corporations, PhilPlans (42.3%) is ranked bigger than St. Peter (30.1%)
in terms of shares in gross revenues because of its huge trust fund income. Moreover, PhilPlans posted over
P1.6 Billion in net income, ranking no. 1 in Pre-Need and 3 in Life Insurance.
18. •
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
iACADEMY
Philippine Women’s University (PWU)
BancLife Insurance Co., Inc.
First Gen Corporation
Summit Technologies Inc.
GROW – Global Resource for Outsourced
Worker Inc.
Ventures Securities Inc.
Classic Finance Inc.
Tanco & Tanco Holdings Inc.
First Optima Realty Corp.
Cement Center, Inc.
Southern Textile Mills, Inc. (STMI)
Delos Santos – STI Hospital
Asian Terminals, Inc.
United Coconut Chem., Inc.
Energy Development Corp. (EDC)
21. “Every time a child is born, all the beautiful
dreams of the parents for the child are also
born.”
22. Some of the Dreams
Doctor
Businessman
Agriculturist
Dentist
Midwife
Lawyer
Programmer
Engineer
Accountant
Teacher
Journalist
Nurse
Artist
Architect
Priest
Mariner
Veterinarian
25. COLLEGE
EDUCATION
is the best waychildren to
a person's best passport
is accepted to improve
good
issending their as aprepare a
College isbecomestart and
towards considered a
preparation and life!
the economic to insocial
child to success a useful
business as a continue
accepted our parental
conditionor the family!
member ofofto society and
runningourfamily business!
responsibility!
a country!
26. Dream versus Realities
•
•
•
•
•
•
•
?
College Education
Employment local
Employment abroad
Managing a business
Owning a business
Raising a good family
House, car, good life!
• Cost of Education
Tuition, Dormitory,
Books, Uniforms,
Transportation, and
Allowance
• Inflation
• Uncertainties in life.
27. Hard Facts
• 1 in every 10 Filipinos aged 10 to 64 cannot read
and write.
• Increase in the drop-out rate for elementary
students increased from 5.99% to 6.29%*; and for
high school students from 7.45% to 7.79%* in the
SY2007-2011.
• Increase in the drop-out rate is mainly because of
the high cost of education.
• Average increase in tuition fees range from a low
of 5 percent to a high of 15 percent per year**.
*DepEd Fact Sheet as of Nov. 16, 2011
**Philippine Daily Inquirer – Article by Randell Tiongson, May 17, 2011
28. Philippine Universities Tuition Comparison
(SY 2011-2012)
T u i t i o n Fe e Ra n g e
Sc h o o l
Ad am so n Un iver sit y
Assu m p t io n Co lleg e
T u i t i o n Fe e Ran g e
p e r Sem e s t er ( Ph p )
T er m s
p e r A n n u m ( Ph p )
3 0,0 0 0 t o 4 5 ,0 00
2
6 0 ,0 0 0 t o 90 ,0 0 0
5 5,0 0 0
2
11 0 ,0 00
51 , 9 4 8.4 5
2
10 3 ,8 97
Cent r o Esco lar Un iver sit y
3 5,0 0 0 t o 4 0 ,0 00
2
7 0 ,0 0 0 t o 80 ,0 0 0
Co leg io d e San J an d e Let r an
u
1 6,0 0 0 t o 2 2 ,0 00
2
3 2 ,0 0 0 t o 44 ,0 0 0
Co lleg e o f t he Ho ly Sp ir it , Man ila
3 2,5 5 0
2
6 5 ,1 0 0
De La Salle- Co lleg e o f St . Ben ild e
5 5,0 0 0 t o 7 0 ,0 00
3
16 5 ,0 00 t o 2 1 0,0 00
De La Salle Univer sit y
5 5,3 0 0 t o 7 0 ,0 00
3
16 5 ,9 00 t o 2 1 0,0 00
Far Easter n Un iver sity
3 4,0 0 0 t o 4 4 ,0 00
2
6 8 ,0 0 0 t o 88 ,0 0 0
Lyceu m o f t h e Ph ilip p in es
3 5,0 0 0 t o 4 0 ,0 00
2
7 0 ,0 0 0 t o 80 ,0 0 0
Map ua In st it u t e o f Tech no lo g y
2 5,0 0 0 t o 3 2 ,1 18
4
10 0 ,0 00 t o 1 2 8,4 71
At en eo De Man ila Un iver sit y
Mir iam Colleg e
4 9,0 0 0
2
9 8 ,0 0 0
7 35 t o 25 20
2
1 ,4 7 0 to 5 ,0 40
2 7,2 8 0 t o 2 8 ,3 35
2
5 4 ,5 6 0 t o 56 ,6 7 0
2 5 2 t o 3 36
2
5 0 4 to 67 2
San Bed a Co lleg e
4 5,0 0 0 t o 6 0 ,0 00
2
90 ,00 0 t o 1 2 0 ,0 00
San Seb ast ian Co lleg e
2 5,0 0 0 t o 3 1 ,0 00
2
5 0 ,0 0 0 t o 62 ,0 0 0
St. Sch olast ica’s College
4 1,0 0 0 t o 4 2 ,7 00
2
8 2 ,0 0 0 t o 85 ,0 0 0
Philipp in e No r m al Un iver sit y
Philipp in e Scho o l of Business Ad m inist r at io n
Polytechn ic Un iver sit y o f t he Ph ilip p in es
Techn o lo g ical Un iver sit y o f t h e Philipp in es
Un iver sit y o f St o . To m as
Un iver sit y o f t he Asia and t h e Pacif ic
Un iver sit y o f t he East
Un iver sit y o f t he Ph ilip pin es
1 ,0 50 t o 3 ,1 5 0
2
21 0 0 t o 3,1 5 0
3 6,0 0 0 t o 5 6 ,0 00
2
72 ,00 0 t o 1 1 2 ,0 00
10 0 ,00 0
2
20 0 ,0 00
3 0,0 0 0 t o 4 0 ,0 00
2
6 0 ,0 0 0 t o 80 ,0 0 0
0 t o 2 2,5 0 0
2
0 t o 45 ,0 0 0
**Source: http://academic-clinic.com/2012/05/philippine-universities-tuition-comparison/
29. 0
Sc hool
15
2012*
2027
16
17
Tuition Fee Range per Annum
2028
2029
18
19
2030
2031
D e La Sal l e- Co l l eg e o f St . Ben i l d e
2 1 0 ,0 0 0 .0 0
8 7 7 ,2 2 2 .1 2
9 6 4 ,9 4 4 .3 3
1 ,0 6 1 ,4 3 8 .7 6
1 ,1 6 7 ,5 8 2 .6 4
1 ,2 8 4 ,3 4 0 .9 0
D e La Sal l e Un i v er s i t y
2 1 0 ,0 0 0 .0 0
8 7 7 ,2 2 2 .1 2
9 6 4 ,9 4 4 .3 3
1 ,0 6 1 ,4 3 8 .7 6
1 ,1 6 7 ,5 8 2 .6 4
1 ,2 8 4 ,3 4 0 .9 0
U n i v er s i t y o f t h e A s i a an d t h e Pac i f i c
2 0 0 ,0 0 0 .0 0
8 3 5 ,4 4 9 .6 3
9 1 8 ,9 9 4 .6 0
1 ,0 1 0 ,8 9 4 .0 6
1 ,1 1 1 ,9 8 3 .4 6
1 ,2 2 3 ,1 8 1 .8 1
Map u a In s t i t u t e o f T ec h n o l o g y
1 2 8 ,4 7 1 .0 0
5 3 6 ,6 5 5 .2 5
5 9 0 ,3 2 0 .7 7
6 4 9 ,3 5 2 .8 5
7 1 4 ,2 8 8 .1 4
7 8 5 ,7 1 6 .9 5
San Bed a C o l l eg e
1 2 0 ,0 0 0 .0 0
5 0 1 ,2 6 9 .7 8
5 5 1 ,3 9 6 .7 6
6 0 6 ,5 3 6 .4 3
6 6 7 ,1 9 0 .0 8
7 3 3 ,9 0 9 .0 9
U n i v er s i t y o f St o . T o m as
1 1 2 ,0 0 0 .0 0
4 6 7 ,8 5 1 .7 9
5 1 4 ,6 3 6 .9 7
5 6 6 ,1 0 0 .6 7
6 2 2 ,7 1 0 .7 4
6 8 4 ,9 8 1 .8 1
A s s u m p t i o n Co l l eg e
1 1 0 ,0 0 0 .0 0
4 5 9 ,4 9 7 .3 0
5 0 5 ,4 4 7 .0 3
5 5 5 ,9 9 1 .7 3
6 1 1 ,5 9 0 .9 0
6 7 2 ,7 4 9 .9 9
A t en eo De Man i l a U n i v er s i t y
1 0 3 ,8 9 7 .0 0
4 3 4 ,0 0 3 .5 5
4 7 7 ,4 0 3 .9 1
5 2 5 ,1 4 4 .3 0
5 7 7 ,6 5 8 .7 3
6 3 5 ,4 2 4 .6 0
Mi r i am Co l l eg e
9 8 ,0 0 0 .0 0
4 0 9 ,3 7 0 .3 2
4 5 0 ,3 0 7 .3 5
4 9 5 ,3 3 8 .0 9
5 4 4 ,8 7 1 .9 0
5 9 9 ,3 5 9 .0 9
A d am s o n Un i v er s i t y
9 0 ,0 0 0 .0 0
3 7 5 ,9 5 2 .3 4
4 1 3 ,5 4 7 .5 7
4 5 4 ,9 0 2 .3 3
5 0 0 ,3 9 2 .5 6
5 5 0 ,4 3 1 .8 1
Far Eas t er n Un i v er s i t y
8 8 ,0 0 0 .0 0
3 6 7 ,5 9 7 .8 4
4 0 4 ,3 5 7 .6 2
4 4 4 ,7 9 3 .3 9
4 8 9 ,2 7 2 .7 2
5 3 8 ,2 0 0 .0 0
St . Sc h o l as t i c a’ s C o l l eg e
8 5 ,0 0 0 .0 0
3 5 5 ,0 6 6 .0 9
3 9 0 ,5 7 2 .7 0
4 2 9 ,6 2 9 .9 7
4 7 2 ,5 9 2 .9 7
5 1 9 ,8 5 2 .2 7
C en t r o Es c o l ar U n i v er s i t y
8 0 ,0 0 0 .0 0
3 3 4 ,1 7 9 .8 5
3 6 7 ,5 9 7 .8 4
4 0 4 ,3 5 7 .6 2
4 4 4 ,7 9 3 .3 9
4 8 9 ,2 7 2 .7 2
Ly c eu m o f t h e Ph i l i p p i n es
8 0 ,0 0 0 .0 0
3 3 4 ,1 7 9 .8 5
3 6 7 ,5 9 7 .8 4
4 0 4 ,3 5 7 .6 2
4 4 4 ,7 9 3 .3 9
4 8 9 ,2 7 2 .7 2
U n i v er s i t y o f t h e Eas t
8 0 ,0 0 0 .0 0
3 3 4 ,1 7 9 .8 5
3 6 7 ,5 9 7 .8 4
4 0 4 ,3 5 7 .6 2
4 4 4 ,7 9 3 .3 9
4 8 9 ,2 7 2 .7 2
C o l l eg e o f t h e H o l y Sp i r i t , Man i l a
6 5 ,1 0 0 .0 0
2 7 1 ,9 3 8 .8 6
2 9 9 ,1 3 2 .7 4
3 2 9 ,0 4 6 .0 2
3 6 1 ,9 5 0 .6 2
3 9 8 ,1 4 5 .6 8
San Seb as t i an C o l l eg e
6 2 ,0 0 0 .0 0
2 5 8 ,9 8 9 .3 9
2 8 4 ,8 8 8 .3 3
3 1 3 ,3 7 7 .1 6
3 4 4 ,7 1 4 .8 7
3 7 9 ,1 8 6 .3 6
Ph i l i p p i n e Sc h o o l o f Bu s i n es s A d m i n i s t r at i o n
5 6 ,6 7 0 .0 0
2 3 6 ,7 2 4 .6 5
2 6 0 ,3 9 7 .1 2
2 8 6 ,4 3 6 .8 3
3 1 5 ,0 8 0 .5 1
3 4 6 ,5 8 8 .5 7
U n i v er s i t y o f t h e Ph i l i p p i n es
4 5 ,0 0 0 .0 0
1 8 7 ,9 7 6 .1 7
2 0 6 ,7 7 3 .7 8
2 2 7 ,4 5 1 .1 6
2 5 0 ,1 9 6 .2 8
2 7 5 ,2 1 5 .9 1
C o l eg i o d e San Ju an d e Let r an
4 4 ,0 0 0 .0 0
1 8 3 ,7 9 8 .9 2
2 0 2 ,1 7 8 .8 1
2 2 2 ,3 9 6 .6 9
2 4 4 ,6 3 6 .3 6
2 6 9 ,1 0 0 .0 0
Ph i l i p p i n e No r m al Un i v er s i t y
5 ,0 4 0 .0 0
2 1 ,0 5 3 .3 3
2 3 ,1 5 8 .6 6
2 5 ,4 7 4 .5 3
2 8 ,0 2 1 .9 8
3 0 ,8 2 4 .1 8
T ec h n o l o g i c al U n i v er s i t y o f t h e Ph i l i p p i n es
3 ,1 5 0 .0 0
1 3 ,1 5 8 .3 3
1 4 ,4 7 4 .1 6
1 5 ,9 2 1 .5 8
1 7 ,5 1 3 .7 4
1 9 ,2 6 5 .1 1
6 7 2 .0 0
2 ,8 0 7 .1 1
3 ,0 8 7 .8 2
3 ,3 9 6 .6 0
3 ,7 3 6 .2 6
4 ,1 0 9 .8 9
Po l y t ec h n i c U n i v er s i t y o f t h e Ph i l i p p i n es
*Data as of May 2012
**Tuition Fees are projected to increase by 10% every year.
**Source: http://academic-clinic.com/2012/05/philippine-universities-tuition-comparison/
30. How Did Parents Solve The
Problem?
• Salaries and Wages
• Income from Crops
• Saving in the Bank
• Investment
32. Solution Parents Are Looking For
• Solution to counternot require a big
that does inflation.
amount of money immediately.
• Solution that provides for the
• uncertainties is not affected by natural
Solution that of life.
calamities.
• Solution that gives fair rate of return.
36. GUARANTEED Education Benefit
• Guaranteed Semestral Education Benefit
(SEB) is given every semester for 4 or 5
years which has a 25% increment based
on the previous year’s Education Benefit.
Total Education Benefit (TEB) is the sum
of all Semestral Education Benefits
including the 25% increments.
37. Computation for the SEB
For Magna and Summa Education Plans
4-Year College
Year
1st Sem 2nd Sem
5-Year College
Year
1st Sem 2nd Sem
1st
8.67%*
8.67%*
1st
6.09%*
6.09%*
2nd
10.84%* 10.84%*
2nd
7.61%*
7.61%*
3rd
13.55%* 13.55%*
3rd
9.51%*
9.51%*
4th
16.94%* 16.94%*
4th
11.89%* 11.89%*
Subtotal 50.00%* 50.00%*
5th
14.90%* 14.90%*
Total
100.00%*
Subtotal 50.00%* 50.00%*
Total
*of the TEB
100.00%*
38. 4-Year Magna Education Plan
Table of Guaranteed Education Benefits
Education Benefits
Total Education
Benefit (TEB)
1st Year
2nd Year
3rd Year
4th Year
PhP100,000
1st Sem
2nd Sem
PhP8,670
PhP8,670
PhP10,840
PhP10,840
PhP13,550
PhP13,550
PhP16,940
PhP16,940
PhP300,000
1st Sem
2nd Sem
PhP26,010
PhP26,010
PhP32,520
PhP32,520
PhP40,650
PhP40,650
PhP50,820
PhP50,820
PhP500,000
1st Sem
2nd Sem
PhP43,350
PhP43,350
PhP54,200
PhP54,200
PhP67,750
PhP67,750
PhP84,700
PhP84,700
PhP1,000,000
1st Sem
2nd Sem
PhP86,700
PhP86,700
PhP108,400
PhP108,400
PhP135,500
PhP135,500
PhP169,400
PhP169,400
39. 5-Year Magna Education Plan
Table of Guaranteed Education Benefits
Education Benefits
Total Education
Benefits (TEB)
1st Year
2nd Year
3rd Year
4th Year
5th Year
PhP100,000
1st Sem
2nd Sem
PhP6,090
PhP6,090
PhP7,610
PhP7,610
PhP9,510
PhP9,510
PhP11,890
PhP11,890
PhP14,900
PhP14,900
PhP300,000
1st Sem
2nd Sem
PhP18,270
PhP18,270
PhP22,830
PhP22,830
PhP28,530
PhP28,530
PhP35,670
PhP35,670
PhP44,700
PhP44,700
PhP500,000
1st Sem
2nd Sem
PhP30,450
PhP30,450
PhP38,050
PhP38,050
PhP47,550
PhP47,550
PhP59,450
PhP59,450
PhP74,500
PhP74,500
PhP1,000,000
1st Sem
2nd Sem
PhP60,900
PhP60,900
PhP76,100
PhP76,100
PhP95,100
PhP95,100
PhP118,900
PhP118,900
PhP149,000
PhP149,000
40. GUARANTEED Graduation Gift
• Equivalent to 50% of Total Education
Benefit, given on the next payout date
following the last SEB availment.
GRADUATION
GIFT
APR
SEPT
APR
1stYR –
1stSEM
1stYR –
2ndSEM
2ndYR –
1stSEM
SEPT
2ndYR –
2ndSEM
APR
SEPT
APR
SEPT
3rdYR –
1stSEM
3rdYR –
2ndSEM
4thYR –
1stSEM
4thYR –
2ndSEM
APR
41. 4-Year Magna Education Plan
Table of Guaranteed Education Benefits and Graduation Gift
Total
Education
Benefit (TEB)
Education Benefits
1st Year
2nd Year
3rd Year
4th Year
Graduation
Gift
TEB +
Graduation
Gift
PhP100,000
1st Sem
2nd Sem
PhP8,670
PhP8,670
PhP10,840
PhP10,840
PhP13,550
PhP13,550
PhP16,940
PhP16,940
PhP50,000
PhP150,000
PhP300,000
1st Sem
2nd Sem
PhP26,010
PhP26,010
PhP32,520
PhP32,520
PhP40,650
PhP40,650
PhP50,820
PhP50,820
PhP150,000
PhP450,000
PhP500,000
1st Sem
2nd Sem
PhP43,350
PhP43,350
PhP54,200
PhP54,200
PhP67,750
PhP67,750
PhP84,700
PhP84,700
PhP250,000
PhP750,000
PhP1,000,000
1st Sem
2nd Sem
PhP86,700
PhP86,700
PhP108,400
PhP108,400
PhP135,500
PhP135,500
PhP169,400
PhP169,400
PhP500,000
PhP1,500,000
42. 5-Year Magna Education Plan
Table of Guaranteed Education Benefits and Graduation Gift
Total
Education
Benefit
(TEB)
Education Benefits
1st Year
2nd Year
3rd Year
4th Year
5th Year
Graduation
Gift
TEB +
Graduation
Gift
PhP100,000
1st Sem
2nd Sem
PhP6,090
PhP6,090
PhP7,610
PhP7,610
PhP9,510
PhP9,510
PhP11,890
PhP11,890
PhP14,900
PhP14,900
PhP50,000
PhP150,000
PhP300,000
1st Sem
2nd Sem
PhP18,270
PhP18,270
PhP22,830
PhP22,830
PhP28,530
PhP28,530
PhP35,670
PhP35,670
PhP44,700
PhP44,700
PhP150,000
PhP450,000
PhP500,000
1st Sem
2nd Sem
PhP30,450
PhP30,450
PhP38,050
PhP38,050
PhP47,550
PhP47,550
PhP59,450
PhP59,450
PhP74,500
PhP74,500
PhP250,000
PhP750,000
PhP1,000,000
1st Sem
2nd Sem
PhP60,900
PhP60,900
PhP76,100
PhP76,100
PhP95,100
PhP95,100
PhP118,900
PhP118,900
PhP149,000
PhP149,000
PhP500,000
PhP1,500,000
43. 4-Year Magna Education Plan
Comparison of PNP and Guaranteed Education Benefits
17 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment*
PhP75,500
PhP150,000
PhP100,000
PhP50,000
PhP15,100
PhP226,500
PhP450,000
PhP300,000
PhP150,000
PhP45,300
PhP377,500
PhP750,000
PhP500,000
PhP250,000
PhP75,500
PhP755,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP151,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
44. 4-Year Magna Education Plan
Comparison of PNP and Guaranteed Education Benefits
7 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP135,500
PhP150,000
PhP100,000
PhP50,000
PhP27,100
PhP406,500
PhP450,000
PhP300,000
PhP150,000
PhP81,300
PhP677,500
PhP750,000
PhP500,000
PhP250,000
PhP135,500
PhP1,355,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP271,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
45. 5-Year Magna Education Plan
Comparison of PNP and Guaranteed Education Benefits
17 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP73,000
PhP150,000
PhP100,000
PhP50,000
PhP14,600
PhP219,000
PhP450,000
PhP300,000
PhP150,000
PhP43,800
PhP365,000
PhP750,000
PhP500,000
PhP250,000
PhP73,000
PhP730,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP146,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
46. 5-Year Magna Education Plan
Comparison of PNP and Guaranteed Education Benefits
7 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP130,000
PhP150,000
PhP100,000
PhP50,000
PhP26,000
PhP390,000
PhP450,000
PhP300,000
PhP150,000
PhP78,000
PhP650,000
PhP750,000
PhP500,000
PhP250,000
PhP130,000
PhP1,300,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP260,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
47. Computing for
Annual Installment and PNP
Using Premium Factors
Total Education Benefit ÷ Premium Factor =
Annual Installment*
Annual Installment x Paying Period =
Pre-Need Price (PNP)*
* Amounts are exclusive of VAT
48. Modal Factors and VAT
Semi-Annual
Quarterly
Monthly
= 0.525 x Annual Installment
= 0.267 x Annual Installment
= 0.090 x Annual Installment
VAT Rate = 5.88%
49. Insurance Benefits
• Credit Life
• Disability Benefit
• Accidental Death and Disability for the
Planholder
• Accidental Death and Disability for the
Nominee
50. Credit Life
If the planholder dies during the paying
period and before age 65, 100% of the
remaining balance of the plan will be
considered fully paid.
Length of Insurance Coverage is from age 18 to before age 65 only.
51. Disability Benefit
Waiver of Installment Upon Disability
If the planholder becomes totally and
permanently* disabled during the paying
period and before age 65, 100% of the
remaining balance of the plan shall be waived.
* Observation Period of 6 months
Length of Insurance Coverage is from age 18 to before age 65 only.
52. Credit Life and Disability Benefit
Magna Education Plan
Pay Period: 5 years
PNP: PhP 219,000
TEB: PhP 300,000
Mode of Payment: Monthly
Monthly Installment: PhP 3,942
Effective Date: January 1, 2013
Mr. Planholder
Planholder died or
became permanently
disabled
on January 30, 2013
JAN
2013
2012
FEB
2013
2012
MAR
2013
2012
APR
2013
2012
MAY
2013
2012
JUN
2013
2012
JUL
2013
2012
AUG
2013
2012
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
Pre-Need Price of the Plan
Amount Paid
Balance considered fully paid
*With the assumption that the insurance claim has been approved.
- PhP 219,000
3,942
- PhP 215,058
53. Accidental Death and Disability
In case of death or total and permanent
disability of the PLANHOLDER due to
accident during the paying period and
before age 65, the insurer shall pay for the
indemnities.
Equivalent to 200% of the Total Education
Benefit.
Note: Claim must be filed within 180 days from the date of accident.
The benefit schedule is attached to the Plan Contract.
Length of Insurance Coverage is from age 18 to before age 65 only.
54. Accidental Death of Planholder
Magna Education Plan
Pay Period: 5 years
PNP: PhP 219,000
TEB: PhP 300,000
Mode of Payment: Monthly
Monthly Installment: Php 3,942
Effective Date: January 1, 2013
Mr. Planholder
Planholder dies
due to Accident on
January 30, 2013
JAN
2013
2012
FEB
2013
2012
MAR
2013
2012
APR
2013
2012
MAY
2013
2012
JUN
2013
2012
JUL
2013
2012
AUG
2013
2012
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
PhP300,000
x
200%
= PhP600,000
*With the assumption that the insurance claim has been approved.
will be
given to
Beneficiary
55. Accidental Disability of Planholder
Magna Education Plan
Pay Period: 5 years
PNP: PhP 219,000
TEB: PhP 300,000
Mode of Payment: Monthly
Monthly Installment: Php 3,942
Effective Date: January 1, 2013
Mr. Planholder
Planholder gets
disabled
due to Accident on
January 30, 2013
JAN
2013
2012
FEB
2013
2012
MAR
2013
2012
APR
2013
2012
MAY
2013
2012
JUN
2013
2012
JUL
2013
2012
AUG
2013
2012
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
P 3,942
PhP300,000
x
200%
= PhP600,000
*With the assumption that the insurance claim has been approved.
will be given
as indemnity
to Planholder
56. Accidental Death and Disability
In case of death or total and permanent
disability of the NOMINEE due to accident
during the availment period, the insurer
shall pay for the indemnities.
Equivalent to 200% of the Total Education Benefit.
Nominee must be between the ages of 15 and 25 at the
time of availment
Benefit schedule is attached to the Plan Contract.
Claim must be filed within 180 days from the date of accident.
Length of Insurance Coverage is from the start of the availment period up to before age 30 only or death of the Nominee,
whichever comes first.
57. Accidental Death of Nominee
4-year Magna Education Plan
TEB: PhP 300,000
Effective Date: January 1, 2013
Maturity Date: January 1, 2030
Availment Date: April 30, 2030
Nominee
Nominee dies
due to Accident on
June 30, 2030
APR
2030
SEPT
2030
APR
2031
SEPT
2031
APR
2032
SEPT
2032
APR
2033
SEPT
2033
1stYR –
1stSEM
1stYR –
2ndSEM
2ndYR –
1stSEM
2ndYR –
2ndSEM
3rdYR –
1stSEM
3rdYR –
2ndSEM
4thYR –
1stSEM
4thYR –
2ndSEM
PhP300,000 x
200%
= PhP600,000
*With the assumption that the insurance claim has been approved.
will be
given to
Beneficiary
58. Accidental Disability of Nominee
4-year Magna Education Plan
TEB: PhP 300,000
Effective Date: January 1, 2013
Maturity Date: January 1, 2030
Availment Date: April 30, 2030
Nominee
Nominee gets
disabled due to
accident, and lost
both feet on June 30,
2030
APR
2030
SEPT
2030
APR
2031
SEPT
2031
APR
2032
SEPT
2032
APR
2033
SEPT
2033
1stYR –
1stSEM
1stYR –
2ndSEM
2ndYR –
1stSEM
2ndYR –
2ndSEM
3rdYR –
1stSEM
3rdYR –
2ndSEM
4thYR –
1stSEM
4thYR –
2ndSEM
PhP300,000 x
200%
= PhP600,000
*With the assumption that the insurance claim has been approved.
will be
given to
Nominee
59. Schedule of Indemnities
LOSS
INDEMNITY
(% of the Amount
of Insurance)
Accidental Disability of Limbs:
Both Hands
100%
Both Feet
100%
One Hand and One Foot
100%
One Hand
50%
Arm between elbow and wrist
60%
Arm at or above elbow
70%
One Foot
50%
Leg below knee
60%
Leg at or above knee
70%
200% of the TEB
TEB = PhP300,000
Amt. of Insurance = PhP600,000
PhP600,000
60. Schedule of Indemnities
LOSS
INDEMNITY
(% of the Amount of
Insurance)
Accidental Disability of Limbs:
Both Hands
100%
Both Feet
100%
One Hand and One Foot
100%
One Hand
50%
Arm between elbow and wrist
60%
Arm at or above elbow
70%
One Foot
50%
Leg below knee
60%
Leg at or above knee
70%
61. Schedule of Indemnities
LOSS
INDEMNITY
(% of the Amount of
Insurance)
Loss of Sight:
Both Eyes
100%
One Eye
50%
Loss of Speech
100%
Loss of Hearing
Both Ears
100%
One Ear
50%
Loss of Use of Metacarpals
First and Second
3%
Third, Fourth or Fifth
2%
62. Schedule of Indemnities
LOSS
INDEMNITY
(% of the Amount of
Insurance)
Accidental Disability of Fingers:
All of one hand
50%
Thumb
15%
Index Finger
10%
Middle Finger
6%
Ring Finger
5%
Little Finger
4%
Accidental Disability of Toes:
All of one foot
25%
Great toe
5%
Other than Great toe, each toe
1%
63. Schedule of Indemnities
LOSS
INDEMNITY
(% of the Amount
of Insurance)
Fractured Leg or patelia with established
non-union:
10%
Shortening of leg by at least 5cm.:
7.5%
65. Education Plan Overview
Magna 4-Year College Program
Effective Date: 1 January 2013
7
8
9 10 11 12 13 14 15 16 17
Maturity Period Options
the Planholder may choose a Maturity Date
between the 7th and the 17th Year
Age of
Nominee
Below
1 yr.
old
1 yr.
old
2 yrs.
old
3 yrs.
old
4 yrs.
old
5 yrs.
old
6 yrs.
old
7 yrs.
old
8 yrs.
old
9 yrs
old.
10
yrs.
old
Maturity
Period
17yrs.
16yrs.
15yrs.
14yrs.
13yrs.
12yrs.
11yrs.
10yrs.
9yrs.
8yrs.
7yrs.
66. Maturity Period Options
• Planholder may choose from any of our
Maturity Period Options based on when
he/she plans to start receiving the
Semestral Education Benefit
Age of
Nominee
Below
1 yr.
old
1 yr.
old
2 yrs.
old
3 yrs.
old
4 yrs.
old
5 yrs.
old
6 yrs.
old
7 yrs.
old
8 yrs.
old
9 yrs
old.
10
yrs.
old
Maturity
Period
17yrs.
16yrs.
15yrs.
14yrs.
13yrs.
12yrs.
11yrs.
10yrs.
9yrs.
8yrs.
7yrs.
68. Education Plan Overview
Magna 4-Year College Program
Effective Date: 1 January 2013
0 1 2
5
Paying Period
Options
Credit Life
7
8
Graduation
Gift
9 10 11 12 13 14 15 16 17 18 19 20 21
Maturity Period Options
the Planholder may choose a Maturity Date
between the 7th and the 17th Year
Availment
Period
Accidental
Death and
Disability
Disability Benefit
Accidental Death
& Disability
Planholder is
protected with
insurance
coverage during
the paying
period
Nominee is
protected with
insurance
coverage during
availment
period
Note: with the assumption that the Child is at zero (0) age.
69. Minimum Annual Installment
and Graduation Gift
Minimum TEB is
PhP100,000*
Pay Period
Minimum Annual
Installment
Minimum
Graduation Gift
1
PhP63,300
PhP50,000
2
PhP36,400
PhP50,000
5
PhP15,100
PhP50,000
Annual, Semi-Annual, Quarterly and Monthly modes of payment available.
*Amount may be increased by increments of PhP1,000.
*Minimum Annual Installments are exclusive of VAT
70. Behind the Name
Summa cum laude is the
Latin term for academic
distinction which means
“with highest honor.”
72. Computation for the SEB
For Magna and Summa Education Plans
4-Year College
Year
1st Sem 2nd Sem
5-Year College
Year
1st Sem 2nd Sem
1st
8.67%*
8.67%*
1st
6.09%*
6.09%*
2nd
10.84%* 10.84%*
2nd
7.61%*
7.61%*
3rd
13.55%* 13.55%*
3rd
9.51%*
9.51%*
4th
16.94%* 16.94%*
4th
11.89%* 11.89%*
Subtotal 50.00%* 50.00%*
5th
14.90%* 14.90%*
Total
100.00%*
Subtotal 50.00%* 50.00%*
Total
*of the TEB
100.00%*
73. 4-Year Summa Education Plan
Table of Guaranteed Education Benefits
Education Benefits
Total Education
Benefit (TEB)
1st Year
2nd Year
3rd Year
4th Year
PhP100,000
1st Sem
2nd Sem
PhP8,670
PhP8,670
PhP10,840
PhP10,840
PhP13,550
PhP13,550
PhP16,940
PhP16,940
PhP300,000
1st Sem
2nd Sem
PhP26,010
PhP26,010
PhP32,520
PhP32,520
PhP40,650
PhP40,650
PhP50,820
PhP50,820
PhP500,000
1st Sem
2nd Sem
PhP43,350
PhP43,350
PhP54,200
PhP54,200
PhP67,750
PhP67,750
PhP84,700
PhP84,700
PhP1,000,000
1st Sem
2nd Sem
PhP86,700
PhP86,700
PhP108,400
PhP108,400
PhP135,500
PhP135,500
PhP169,400
PhP169,400
74. 5-Year Summa Education Plan
Table of Guaranteed Education Benefits
Education Benefits
Total Education
Benefits (TEB)
1st Year
2nd Year
3rd Year
4th Year
5th Year
PhP100,000
1st Sem
2nd Sem
PhP6,090
PhP6,090
PhP7,610
PhP7,610
PhP9,510
PhP9,510
PhP11,890
PhP11,890
PhP14,900
PhP14,900
PhP300,000
1st Sem
2nd Sem
PhP18,270
PhP18,270
PhP22,830
PhP22,830
PhP28,530
PhP28,530
PhP35,670
PhP35,670
PhP44,700
PhP44,700
PhP500,000
1st Sem
2nd Sem
PhP30,450
PhP30,450
PhP38,050
PhP38,050
PhP47,550
PhP47,550
PhP59,450
PhP59,450
PhP74,500
PhP74,500
PhP1,000,000
1st Sem
2nd Sem
PhP60,900
PhP60,900
PhP76,100
PhP76,100
PhP95,100
PhP95,100
PhP118,900
PhP118,900
PhP149,000
PhP149,000
75. 4-Year Summa Education Plan
Table of Guaranteed Education Benefits and Graduation Gift
Total
Education
Benefit (TEB)
Education Benefits
1st Year
2nd Year
3rd Year
4th Year
Graduation
Gift
TEB +
Graduation
Gift
PhP100,000
1st Sem
2nd Sem
PhP8,670
PhP8,670
PhP10,840
PhP10,840
PhP13,550
PhP13,550
PhP16,940
PhP16,940
PhP50,000
PhP150,000
PhP300,000
1st Sem
2nd Sem
PhP26,010
PhP26,010
PhP32,520
PhP32,520
PhP40,650
PhP40,650
PhP50,820
PhP50,820
PhP150,000
PhP450,000
PhP500,000
1st Sem
2nd Sem
PhP43,350
PhP43,350
PhP54,200
PhP54,200
PhP67,750
PhP67,750
PhP84,700
PhP84,700
PhP250,000
PhP750,000
PhP1,000,000
1st Sem
2nd Sem
PhP86,700
PhP86,700
PhP108,400
PhP108,400
PhP135,500
PhP135,500
PhP169,400
PhP169,400
PhP500,000
PhP1,500,000
76. 5-Year Summa Education Plan
Table of Guaranteed Education Benefits and Graduation Gift
Total
Education
Benefit
(TEB)
Education Benefits
1st Year
2nd Year
3rd Year
4th Year
5th Year
Graduation
Gift
TEB +
Graduation
Gift
PhP100,000
1st Sem
2nd Sem
PhP6,090
PhP6,090
PhP7,610
PhP7,610
PhP9,510
PhP9,510
PhP11,890
PhP11,890
PhP14,900
PhP14,900
PhP50,000
PhP150,000
PhP300,000
1st Sem
2nd Sem
PhP18,270
PhP18,270
PhP22,830
PhP22,830
PhP28,530
PhP28,530
PhP35,670
PhP35,670
PhP44,700
PhP44,700
PhP150,000
PhP450,000
PhP500,000
1st Sem
2nd Sem
PhP30,450
PhP30,450
PhP38,050
PhP38,050
PhP47,550
PhP47,550
PhP59,450
PhP59,450
PhP74,500
PhP74,500
PhP250,000
PhP750,000
PhP1,000,000
1st Sem
2nd Sem
PhP60,900
PhP60,900
PhP76,100
PhP76,100
PhP95,100
PhP95,100
PhP118,900
PhP118,900
PhP149,000
PhP149,000
PhP500,000
PhP1,500,000
77. 4-Year Summa Education Plan
Comparison of PNP and Guaranteed Education Benefits
17 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP82,500
PhP150,000
PhP100,000
PhP50,000
PhP16,500
PhP247,500
PhP450,000
PhP300,000
PhP150,000
PhP49,500
PhP412,500
PhP750,000
PhP500,000
PhP250,000
PhP82,500
PhP825,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP165,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
78. 4-Year Summa Education Plan
Comparison of PNP and Guaranteed Education Benefits
7 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP139,000
PhP150,000
PhP100,000
PhP50,000
PhP27,800
PhP417,000
PhP450,000
PhP300,000
PhP150,000
PhP83,400
PhP695,000
PhP750,000
PhP500,000
PhP250,000
PhP139,000
PhP1,390,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP278,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
79. 5-Year Summa Education Plan
Comparison of PNP and Guaranteed Education Benefits
17 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP79,000
PhP150,000
PhP100,000
PhP50,000
PhP15,800
PhP237,000
PhP450,000
PhP300,000
PhP150,000
PhP47,400
PhP395,000
PhP750,000
PhP500,000
PhP250,000
PhP79,000
PhP790,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP158,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
80. 5-Year Summa Education Plan
Comparison of PNP and Guaranteed Education Benefits
7 Years to Mature
Pre-Need Price*
5 Years to Pay
TEB +
Graduation
Gift
Total Education
Benefit (TEB)
Graduation
Gift
Annual
Installment
PhP133,000
PhP150,000
PhP100,000
PhP50,000
PhP26,600
PhP399,000
PhP450,000
PhP300,000
PhP150,000
PhP79,800
PhP665,000
PhP750,000
PhP500,000
PhP250,000
PhP133,000
PhP1,330,000
PhP1,500,000
PhP1,000,000
PhP500,000
PhP266,000
*Pre-Need Prices and Annual Installments are exclusive of VAT. For information on how to compute the annual installment,
please refer to table of Premium Factors.
81. Insurance Benefits
• Credit Life
• Disability Benefit
• Accidental Death and Disability for the
Planholder
• Term Insurance
• Accidental Death and Disability for the
Nominee
82. Term Insurance
The insurance benefit shall be equal to 100%
of the Total Education Benefit.
The insurance coverage shall terminate on the
Maturity Date or upon planholder's attainment
of age 65, whichever comes first.
83. Term Insurance
Summa Education Plan
Pay Period: 5 years
PNP: PhP 237,000
TEB: PhP 300,000
Mode of Payment: Monthly
Monthly Installment: PhP 4,266
Effective Date: January 1, 2013
Mr. Planholder
Planholder dies
due to Accident on
January 30, 2013
JAN
FEB
MAR
APR
MAY
JUN
JULY
AUG
SEPT
OCT
NOV
DEC
JAN
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
Php4,266
PhP300,000 x
100%
= PhP300,000
*With the assumption that the insurance claim has been approved.
will be
given to
Beneficiary
84. Education Plan Overview
Summa 4-Year College Program
Effective Date: 1 January 2013
0 1 2
5
Paying Period
Options
Credit Life
7
8
9 10 11 12 13 14 15 16 17
Maturity Period Options
the Planholder may choose a Maturity Date
between the 7th and the 17th Year
Disability Benefit
Accidental Death
& Disability
Term Insurance
Planholder is
protected with
insurance
coverage during
the paying
period
85. Education Plan Overview
Summa 4-Year College Program
Effective Date: 1 January 2013
7
8
9 10 11 12 13 14 15 16 17
Maturity Period Options
the Planholder may choose a Maturity Date
between the 7th and the 17th Year
Age of
Nominee
Below
1 yr.
old
1 yr.
old
2 yrs.
old
3 yrs.
old
4 yrs.
old
5 yrs.
old
6 yrs.
old
7 yrs.
old
8 yrs.
old
9 yrs
old.
10
yrs.
old
Maturity
Period
17yrs.
16yrs.
15yrs.
14yrs.
13yrs.
12yrs.
11yrs.
10yrs.
9yrs.
8yrs.
7yrs.
87. Education Plan Overview
Summa 4-Year College Program
Effective Date: 1 January 2013
0 1 2
5
Paying Period
Options
Credit Life
7
8
Graduation
Gift
9 10 11 12 13 14 15 16 17 18 19 20 21
Maturity Period Options
the Planholder may choose a Maturity Date
between the 7th and the 17th Year
Availment
Period
Accidental
Death and
Disability
Disability Benefit
Accidental Death
& Disability
Term Insurance (for a 17-year maturity)
Planholder is
protected with
insurance
coverage during
the paying
period
Nominee is
protected with
insurance
coverage during
availment
period
Note: with the assumption that the Child is at zero (0) age.
88. Minimum Annual Installment
and Graduation Gift
Minimum TEB is
PhP100,000*
Pay Period
Minimum Annual
Installment
Minimum
Graduation Gift
1
PhP69,500
PhP50,000
2
PhP39,500
PhP50,000
5
PhP16,500
PhP50,000
Annual, Semi-Annual, Quarterly and Monthly modes of payment available.
*Amount may be increased by increments of PhP1,000.
*Minimum Annual Installments are exclusive of VAT
90. Acceptance Age
With Insurance
Benefit (WIB)
No Insurance Benefit
(NIB)
18 – 64 years old*
18 – 99 years old
In good health
Note: A Planholder with insurance benefits will undergo a 1-Year
Contestability.
*age last birthday
91. Incontestability
Death due to Health Reasons
• The Insurer conducts an investigation if death
occurs within one (1) year from the plan effective
date.
• Provides the Insurer the right to deny claims due to
concealment of facts on the application.
Contestability Period
EFFECTIVITY DATE
January 1, 2013
1 YEAR FROM EFFECTIVITY DATE
January 1, 2014
The insurer can no longer contest claims after the plan has remained in force for (1)
year except for gross fraud.
92. Transferability
A Planholder can transfer all rights and privileges
• The prospective Planholder will be
ofsubject to underwriting requirements and
his plan to another person, subject to the
following conditions :a New Planholder
will be treated as
• Plan must be in force
• Request in writing (Standard Company Form)
• New Application form
93. Grace Period
• Update payments without penalty up to
two months (60 days) after last due date
94. Reinstatement of Plan
Pure Reinstatement
• All overdue installments are paid with
surcharge at the prevailing rate, plus fees
and other charges
*Planholder will undergo 1 year contestability after Reinstatement
95. Reinstatement of Plan
Redating
• Pay one current installment at the
current rate and terms, plus fees and other
charges
• Maturity Date and Full Availment Date
will be adjusted accordingly
*Planholder will undergo 1 year contestability after Reinstatement
96. Plan Termination Value
• The Planholder may opt to avail of the
Plan Termination Value in case he cannot
continue to pay for the plan
The Plan Termination Value is included in the Plan Agreement
97. Reinstatement Overview
Last
Due Date
Quick Paid-Up Status
60 Days
2 Years
Grace Period
DELINQUENT
Reinstatement Period
LAPSED
2 Types of Reinstatement:
Reinstate to Original
Maturity/Full Availment Benefit
1.Pure Reinstatement
2.Redating
Plan Termination Value
Reduced Maturity Benefit
Note: the Planholder will undergo 1 year contestability after Reinstatement
98. Summary of Benefits
PRODUCT
FEATURES
Pay Period
1, 2 and 5 Years
1, 2 and 5 Years
4-year and 5-year
College
4-year and 5-year
College
7-17 years
7-17 years
Minimum Education
Benefit
Php 100,000
Php 100,000
Semestral Education
Benefit
Yes, with 25%
increment every year
Yes, with 25%
increment every year
Yes
Yes
Programs Available
Maturity Period
Total Education Benefit
Graduation Gift
TOTAL GUARANTEED
BENEFITS
50% of TEB given on Full Availment date
150% of TEB
150% of TEB
99. Summary of Benefits
PRODUCT
FEATURES
Credit Life
Yes, during the paying
period
Yes, during the paying
period
Disability Benefit
Yes, during the paying
period
Yes, during the paying
period
Accidental Death and
Disability for Planholder
200% of TEB, during
the paying period
200% of TEB, during the
paying period
Accidental Death and
Disability for Nominee
200% of TEB, during
the availment period
200% of TEB, during the
availment period
----
100% of TEB during the
paying and waiting
period; ends at Maturity
Term Insurance
107. TIPS IN SELLING
Be PREPARED!
Know your customer
Know your product
Look good!
Start with the BENEFITS!
Handle the Objections.
Close the SALE!
Things to AVOID:
hard selling.
technical terms.
Forgetting your
materials.
108. 4-year Magna Education Plan
Total Education Benefit: P1,000,000
Graduation Gift: P500,000
Total Return: P1,500,000
Pre-Need Price: P1,148,990
Paying Period: 1 year
Investment: P1,216,550.61
Return: TEB + Graduation Gift
P1,000,000 + P500,000 =
0
1
7
P1,216,550.61
P1,500,000
8
9
10
Maturity Date
PAYING PERIOD
11
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P2,000,000
Credit Life
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P2,000,000
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P86,700
P108,400
P135,500
P169,400
P500,000
2nd SEM
P86,700
P108,400
P135,500
P169,400
P500,000
P500,000
Total Education Benefit = P1,000,000
109. 4-year Magna Education Plan
Total Education Benefit:
P500,000
Graduation Gift: P250,000
Total Return: P750,000
Pre-Need Price: P377,500
Paying Period: 5 years
Annual Installment: P79,939.40
0
Return: TEB + Graduation Gift
P500,000 + P250,000 =
4
P79,939.40 P79,939.40
17
P750,000
18
19
20
21
P79,939.40
P79,939.40 P79,939.40
Maturity Date
PAYING PERIOD
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P1,000,000
Credit Life
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P1,000,000
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P43,350
P54,200
P67,750
P84,700
P250,000
2nd SEM
P43,350
P54,200
P67,750
P84,700
P250,000
Total Education Benefit = P500,000
P250,000
110. 4-year Summa Education Plan
Total Education Benefit: P1,000,000
Graduation Gift: P500,000
Total Return: P1,500,000
Pre-Need Price: P1,197,993
Paying Period: 1 year
Investment: P1,268,434.99
Return: TEB + Graduation Gift (50% of TEB)
P1,000,000 + P500,000 =
0
1
7
P1,268,434.99
P1,500,000
8
9
10
Maturity Date
PAYING PERIOD
11
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P2,000,000
Term Insurance (100% of TEB) = P1,000,000
Credit Life
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P86,700
P108,400
P135,500
P169,400
P500,000
2nd SEM
P86,700
P108,400
P135,500
P169,400
P500,000
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P2,000,000
P500,000
Total Education Benefit = P1,000,000
111. 4-year Summa Education Plan
Total Education Benefit:
P500,000
Graduation Gift: P250,000
Total Return: P750,000
Pre-Need Price: P412,500
Paying Period: 5 years
Annual Installment: P87,351
0
Return: TEB + Graduation Gift (50% of TEB)
P500,000 + P250,000 =
4
P87,351
P87,351
P87,351
17
P750,000
18
19
20
21
P87,351
P87,351
Maturity Date
PAYING PERIOD
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P1,000,000
Term Insurance (100% of TEB) = P500,000
Credit Life
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P43,350
P54,200
P67,750
P84,700
P250,000
2nd SEM
P43,350
P54,200
P67,750
P84,700
P250,000
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P1,000,000
Total Education Benefit = P500,000
P250,000
112. Get a partner.
Practice How To Sell
Scenarios:
Party/Get together
Office/Work
Community
Present your
scenario to the
group!
113. 4-year Magna Education Plan
Total Education Benefit: P1,000,000
Graduation Gift: P500,000
Total Return: P1,500,000
Pre-Need Price: P1,148,990
Paying Period: 1 year
Investment: P1,216,550.61
Return: TEB + Graduation Gift
P1,000,000 + P500,000 =
0
1
7
P1,216,550.61
P1,500,000
8
9
10
Maturity Date
PAYING PERIOD
11
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P2,000,000
Credit Life
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P2,000,000
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P86,700
P108,400
P135,500
P169,400
P500,000
2nd SEM
P86,700
P108,400
P135,500
P169,400
P500,000
P500,000
Total Education Benefit = P1,000,000
114. 4-year Magna Education Plan
Total Education Benefit:
P500,000
Graduation Gift: P250,000
Total Return: P750,000
Pre-Need Price: P377,500
Paying Period: 5 years
Annual Installment: P79,939.40
0
Return: TEB + Graduation Gift
P500,000 + P250,000 =
4
P79,939.40 P79,939.40
17
P750,000
18
19
20
21
P79,939.40
P79,939.40 P79,939.40
Maturity Date
PAYING PERIOD
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P1,000,000
Credit Life
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P1,000,000
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P43,350
P54,200
P67,750
P84,700
P250,000
2nd SEM
P43,350
P54,200
P67,750
P84,700
P250,000
Total Education Benefit = P500,000
P250,000
115. 4-year Summa Education Plan
Total Education Benefit: P1,000,000
Graduation Gift: P500,000
Total Return: P1,500,000
Pre-Need Price: P1,197,993
Paying Period: 1 year
Investment: P1,268,434.99
Return: TEB + Graduation Gift (50% of TEB)
P1,000,000 + P500,000 =
0
1
7
P1,268,434.99
P1,500,000
8
9
10
Maturity Date
PAYING PERIOD
11
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P2,000,000
Term Insurance (100% of TEB) = P1,000,000
Credit Life
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P86,700
P108,400
P135,500
P169,400
P500,000
2nd SEM
P86,700
P108,400
P135,500
P169,400
P500,000
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P2,000,000
P500,000
Total Education Benefit = P1,000,000
116. 4-year Summa Education Plan
Total Education Benefit:
P500,000
Graduation Gift: P250,000
Total Return: P750,000
Pre-Need Price: P412,500
Paying Period: 5 years
Annual Installment: P87,351
0
Return: TEB + Graduation Gift (50% of TEB)
P500,000 + P250,000 =
4
P87,351
P87,351
P87,351
17
P750,000
18
19
20
21
P87,351
P87,351
Maturity Date
PAYING PERIOD
Graduation
Gift
AVAILMENT PERIOD
(50% of TEB)
Accidental Death and
Disability (200% of TEB) =
P1,000,000
Term Insurance (100% of TEB) = P500,000
Credit Life
1st YR
2nd YR
3rd YR
4th YR
TOTAL
1st SEM
P43,350
P54,200
P67,750
P84,700
P250,000
2nd SEM
P43,350
P54,200
P67,750
P84,700
P250,000
Disability Benefit
Accidental Death
and Disability
(200% of TEB) =
P1,000,000
Total Education Benefit = P500,000
P250,000
119. Sample Computation
Summa Plan 1 – Pay, TEB of 1,000,000
Annual Installment of PhP633,000
1st Year GROSS
BASIC COMMISSION
LESS
6,330.00
1st Year NET
BASIC COMMISSION
Basic Commission
31,650.00
Agents’ Bonus
31,650.00
4,747.50
(Tax (15%))
26,902.50
Total
63,300.00
11,077.50
52,222.50
(Tax (15%) & CBR (5%))
POTENTIAL NET INCOME = PhP 52,222.50
25,320.00
120. Sample Computation
Summa Plan 1 – Pay, TEB of 500,000
Annual Installment of PhP316,500
1st Year GROSS
BASIC COMMISSION
LESS
3,165.00
1st Year NET
BASIC COMMISSION
Basic Commission
15,825.00
Agents’ Bonus
15,825.00
2,373.75
(Tax (15%))
13,451.25
Total
31,650.00
5,538.75
26,111.25
(Tax (15%) & CBR (5%))
POTENTIAL NET INCOME = PhP 26,111.25
12,660.00
122. Sample Computation
Summa Plan 2 – Pay, TEB of 1,000,000
Annual Installment of PhP364,000
1st Year GROSS
BASIC COMMISSION
LESS
5,460.00
1st Year NET
BASIC COMMISSION
Basic Commission
27,300.00
Agents’ Bonus
18,200.00
2,730.00
(Tax (15%))
15,470.00
Total
45,500.00
8,190.00
37,310.00
(Tax (15%) & CBR (5%))
POTENTIAL NET INCOME = PhP 37,310.00
21,840.00
123. Sample Computation
Summa Plan 2 – Pay, TEB of 500,000
Annual Installment of PhP182,000
1st Year GROSS
BASIC COMMISSION
Basic Commission
Agents’ Bonus
Total
13,650.00
LESS
2,730.00
(Tax (15%) & CBR (5%))
1st Year NET
BASIC COMMISSION
10,920.00
9,100.00
1,365.00
(Tax (15%))
7,735.00
22,750.00
4,095.00
18,655.00
POTENTIAL NET INCOME = PhP 18,655.00
124. Commission Rates
For 5-Pay
Basic Commission
Year 1
20%
Agent’s Bonus
Year 1
9.7%
Productivity Bonus*
Year 1
5%
*For every 4 PC or PhP50,000 FP (cumulative) validated every month
125. Sample Computation
Summa Plan 5 - Pay,TEB of 1,000,000
Annual Installment of PhP151,000
1st Year GROSS
BASIC COMMISSION
LESS
1st Year NET
BASIC COMMISSION
Basic Commission
30,200.00
6,040.00
24,160.00
Agents’ Bonus
Productivity
Bonus*
Total
14,647.00
2,197.05
7,550.00
1,132.50
52,397.00
9,369.55
(Tax (15%) & CBR (5%))
(Tax (15%))
12,449.95
6,417.50
(Tax (15%))
43,027.45
POTENTIAL NET INCOME = PhP 43,027.45
Note: With the assumption that the Productivity parameter is met
*For every 4 PC or PhP50,000 FP (cumulative) validated every month
126. Sample Computation
Summa Plan 5 – Pay, TEB of 500,000
Annual Installment of PhP75,500
1st Year GROSS
BASIC COMMISSION
Basic Commission
Agents’ Bonus
Productivity
Bonus*
Total
15,100.00
7,323.50
LESS
3,020.00
(Tax (15%) & CBR (5%))
1st Year NET
BASIC COMMISSION
12,080.00
1,098.53
6,224.97
(Tax (15%))
566.25
3,775.00
(Tax (15%))
3,208.75
26,198.50
4,684.78
21,513.72
POTENTIAL NET INCOME = PhP 21,513.72
Note: With the assumption that the Productivity parameter is met
*For every 4 PC or PhP50,000 FP (cumulative) validated every month
127. Agency Leaders & Associates
Protection Program (Sales Counselors)
Classification
RECOGNITION TIER
BRONZE
SILVER
GOLD
50,000 FP & 8 PCs
150,000 FP & 10 PCs
750,000 FP & 12 PCs
Below 65 years old 50,000
100,000
150,000
65 to 70 years old 10,000
20,000
30,000
Term Insurance
PhilCare
---
---
License Fees
---
---
Waived
NOTE: Parameters and Benefits are subject to change annually.
129.
JUAN ANTONIO
SANTOS
DELA CRUZ
01
01
1980
Manila
Maria Antonia F. Santos
Business
Businessman
N/A
(02) 888-0000
0919 894-7253
ABC & D Manufacturing Co.
123-456-789
N/A
(02) 927-9446
N/A
(02) 894-7253
ja_delacruz@yahoo.com
9 8 7 B S P E N C E R S T R E E T,
C U B A O, Q U E Z O N C I T Y
1 5 F A B C & D B L D G ., 1 2 3
A Y A L A A V E., M A K A T I C I T Y
Greeting: Introduce yourself and your role in today’s session
Discuss Objectives:
To discover what Pre-Need is all about
To gain sufficient knowledge on PhilPlans Education products
To learn the basic selling process
Note to Trainer:
Pre-Need was initially associated with selling memorial plans. It was traditionally selling “packaged” memorial plans that includes mortuary services, and caskets; prices usually vary depending on the type of casket and viewing chapel.
Peace of Mind because you don’t need to worry about what may happen in the future.
An Investment with a guaranteed return when the time of need comes.
Protection against being taken advantage of at the time when the entire family is emotionally disturbed.
Assurance that our family will be spared from financial difficulty.
Trust fund audited in 2010 is at P 35.7B
Excess of trust fund is at P 10.2B in 2011 against P 7.9B in 2010
************************
From: Gonzales, Jerik D. Sent: Friday, July 20, 2012 8:55 AMTo: Orendain, Ma. Celina G.Cc: Cordero, Ellen F.Subject: 2011 and 2012 benefit payout
Ms. Nina,
Attached are the latest 2012 benefits payout data and total 2011 benefit data.
Below is the summary of 2011 payout:
Education: 878,511,615
Pension: 1,424,665,064
Memorial: 17,904,333
Thanks!
Jerik D. Gonzales | Marketing Officer
Brand Management Department
( (02) 802-7300 ext. 28657
Trainer to discuss the role of parents in creating a dream path for his/her child. Ask the audience who among them have children and what their dream for them were when they were born.
Trainer to discuss the role of parents in creating a dream path for his/her child.
“We will send him/her to college when the time comes to become an engineer, a nurse, a doctor, a lawyer, an accountant, a seaman, a physical therapist, etc….”
“We will send him/her to college when the time comes to become an engineer, a nurse, a doctor, a lawyer, an accountant, a seaman, a physical therapist, etc….”
But as much we value education. There are hard facts that we have to consider ( Show figures)
Annual Tuition Fee rates
Salaries and Wages are not enough because they are barely enough to cover basic necessities and are always behind inflation. Also, the problem of losing one’s job is always lurking around.
Income from Crops are prone to natural calamities and fluctuation of prices
Saving in the Bank is not enough because of low interest rates. Also, it requires discipline.
Investment requires a big amount of money and close monitoring. Also, it requires the knowledge of how and where to invest.
It is with great pleasure to present to you the Philplans solution, Magna and Summa Education Plans.
If asked for the difference of Prodigy and Summa/Magna:
Guaranteed capital - total education benefits will be higher than the pre-need price, which is the client’s capital investment.
High returns - Summa and Magna are more attractive to clients because of its returns ranging from a low of 1.3% to as much as 3.75% p.a. (for a 5-pay, 5-year college plan), already net of taxes.
Substantial graduation gift -- The graduation gift is significant and can be used as seed money to start up a business or used as a fund for personal development.
Tax-free accumulation -- Putting the same amount of money with a bank time deposit account will earn you lower interest, minus 20% withholding tax. In contrast, our education plans give higher returns and are, more importantly, tax-free!
Note to the Trainer:
Although the education benefits for the PhP100,000 TEB variant may not be enough to cover tuition fees in reference to the previous slide of assumed tuition fee rates, the amount of semestral benefits may help subsidize other costs of education like books, allowance, etc.
Note to the Trainer:
Although the education benefits for the PhP100,000 TEB variant may not be enough to cover tuition fees in reference to the previous slide of assumed tuition fee rates, the amount of semestral benefits may help subsidize other costs of education like books, allowance, etc.
Trainer: P100,000 plan – can help to subsidize education costs, not sufficient for tuition fees, add on
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
Total and permanent means:
Total – cannot engage in any occupation
Permanent – continuous and uninterrupted for at least 6 months
Mr. Planholder acquired a Magna Education Plan with a PNP of PhP219,000 and TEB of PhP300,000 on January 1, 2012. The paying period is 5 years with a monthly installment of PhP3,942.00. If we place it in a timeline, this is how it is going to look like.
In our scenario, Mr. Planholder died due to Natural Death on January 30, 2012. How many payments were made by the PH? Only one. By having Disability insurance coverage, and with the assumption that the claim was approved, the remaining balance of the plan will be waived and the plan will be considered fully paid.
Mr. Planholder acquired a Magna Education Plan with a PNP of PhP219,000 and TEB of PhP300,000 on January 1, 2012. The paying period is 5 years with a monthly installment of PhP3,942.00. If we place it in a timeline, this is how it is going to look like.
In our scenario, Mr. Planholder died due to accident on January 30, 2012. How many payments were made by the PH? Only one. But since PH is covered with Accidental Death and Disability, and with the assumption that the claim was approved, his beneficiary will be given 200% of TEB. In the given example, the indemnity will be equivalent to PhP600,000.
Mr. Planholder acquired a Magna Education Plan with a PNP of PhP219,000 and TEB of PhP300,000 on January 1, 2012. The paying period is 5 years with a monthly installment of PhP3,942.00. If we place it in a timeline, this is how it is going to look like.
In our scenario, Mr. Planholder died due to accident on January 30, 2012. How many payments were made by the PH? Only one. But since PH is covered with Accidental Death and Disability, and with the assumption that the claim was approved, his beneficiary will be given 200% of TEB. In the given example, the indemnity will be equivalent to PhP600,000.
Nominee has a Magna Education Plan with TEB of PhP300,000 on January 1, 2012. Its effective date is January 1, 2012 that will mature on the 17th plan anniversary (2029). He can start enjoying the education benefits of the plan on April 30, 2029. If we place it in a timeline, this is how it is going to look like.
In our scenario, Nominee died due to accident on June 30, 2029. He was able to enjoy only one semestral benefit, and because he (nominee) is covered with Accidental Death and Disability insurance, and with the assumption that the claim was approved, his beneficiary will be given 200% of the TEB. In the given example, it will be equivalent to PhP600,000.
Nominee has a Magna Education Plan with TEB of PhP300,000 on January 1, 2012. Its effective date is January 1, 2012 that will mature on the 17th plan anniversary (2029). He can start enjoying the education benefits of the plan on April 30, 2029. If we place it in a timeline, this is how it is going to look like.
In our scenario, Nominee gets disabled and lost both feet on June 30, 2029. He was able to enjoy only one semestral benefit, and because he (nominee) is covered with Accidental Death and Disability insurance, and with the assumption that the claim was approved, the Nominee will receive 200% of the TEB. In the given example, it will be equivalent to PhP600,000 as indemnity.
Note:
Indemnities will be paid if the insured suffers accidental bodily injuries resulting to any of the specified losses within 180 days after the date of accident causing the loss provided that the date of said accident occurred during the continuance of the rider and before the age of 65.
Note:
Indemnities will be paid if the insured suffers accidental bodily injuries resulting to any of the specified losses within 180 days after the date of accident causing the loss provided that the date of said accident occurred during the continuance of the rider and before the age of 65.
Note:
Indemnities will be paid if the insured suffers accidental bodily injuries resulting to any of the specified losses within 180 days after the date of accident causing the loss provided that the date of said accident occurred during the continuance of the rider and before the age of 65.
Note:
Indemnities will be paid if the insured suffers accidental bodily injuries resulting to any of the specified losses within 180 days after the date of accident causing the loss provided that the date of said accident occurred during the continuance of the rider and before the age of 65.
Let us now look at the Magna education plan overview. In our example, we used 4-year Magna Education Plan with an effective date of January 1, 2012, and the child is at zero age or below 1 year old.
The Planholder can choose from the any of the Paying Period options: Spotcash, 1, 2 or 5 years to pay.
The Planholder is also covered with Credit Life, Disability, and Accidental Death and Disability insurance during the paying period.
We also have Maturity Period Options that vary depending on our Nominee’s age.
For example;
If nominee is below 1 year old, the prescribed maturity period is on the 17th year.
If nominee is 5 years old, the prescribed maturity period is on the 12th year.
If nominee is 10 years old, the prescribed maturity period is on the 7th year.
Since we used 0 age for our nominee in our given example, the plan’s maturity will be on the 17th plan anniversary. The availment period will start on the nearest payout period following the plan’s maturity – either April 30 (for plans acquired between August and January) or September 30 (for plans acquired between February and July) – and which he will receive semestrally for 4 or 5 years depending on the program he acquired. During the availment period, it is now the nominee who will be covered with the Accidental Death and Disability insurance. After the nominee receives his last semestral benefit, he will be entitled to receive his Graduation Gift equivalent to 50% of TEB on the next payout period.
Note to the Trainer:
Although the education benefits for the PhP100,000 TEB variant may not be enough to cover tuition fees in reference to the previous slide of assumed tuition fee rates, the amount of semestral benefits may help subsidize other costs of education like books, allowance, etc.
Note to the Trainer:
Although the education benefits for the PhP100,000 TEB variant may not be enough to cover tuition fees in reference to the previous slide of assumed tuition fee rates, the amount of semestral benefits may help subsidize other costs of education like books, allowance, etc.
Trainer: P100,000 plan – can help to subsidize education costs, not sufficient for tuition fees, add on
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
The rates differ depending on the maturity period. Plans with a longer maturity period are more cost-effective compared to plans with shorter maturity.
The SC then should encourage his client to purchase a plan as early as possible, while the child is young, because the plan is more affordable when the chosen maturity period is longer.
Mr. Planholder acquired a Summa Education Plan with a PNP of PhP237,000 and TEB of PhP300,000 on January 1, 2012. The paying period is 5 years with a monthly installment of PhP4,266.00. If we place it in a timeline, this is how it is going to look like.
For our scenario, Mr. Planholder died due to accident on January 30, 2012. How many payments PH was able to make? Only one. But since PH is covered with Term Insurance, his beneficiary will be given 100% of the TEB which is PhP300,000 in the given example as term insurance benefit.
*This is of course with the assumption that the insurance claim has been approved.
In our Summa education plan overview, we used 4-year Summa Education Plan with an effective date of January 1, 2012 as our example.
We assumed that the nominee is 0 age of below 1 year old.
Planholder can choose from the following Paying Period options of 1, 2 and 5 years to pay.
We also have Maturity Period Option that varies depending on our Nominee’s age.
For example;
If nominee is below 1 year old, his maturity period is on the 17th year.
If nominee is 5 years old, his maturity period is on the 12th year.
If nominee is 10 years old, his maturity period is on the 7th year.
Since we used 0 age for our nominee, his plan matures on the 17th year. This will also start his availment period, which will last for 4 years. During this period, it is now the nominee will be covered with Accidental death and disability. After the nominee receives his last semestral benefit, he is entitled to receive his Graduation Gift, which is equivalent to 50% of TEB he enjoyed from the plan.
Take note that Term Insurance of planholder is effective until Maturity Date of the plan.
PhilPlans conducts an investigation if death occurs within one (1) year from the plan effective date.
This provides the Insurer the right to deny claims due to concealment of facts on the application and gross fraud.
The Planholder is entitled to pay the plan payments without penalty up to two months after the last due date.
If the Planholder fails to pay by the end of the grace period, the Quick Paid-up Status will take effect and all rights and privileges will end, except the right to reinstate or to receive the reduced plan benefit.
Processing fees, reinstatement fees, other surcharges
Processing fees, reinstatement fees, other surcharges
Plan Termination Value:
Surrender charge : 20% during paying period and 15% after the paying period. The plan should cross a plan anniversary in order to have a Plan Termination Value.
The PTV is a percentage of reserves and the value depends on the duration of the plan. The longer the plan stays with us, the bigger the PTV.
Activity: For the next 15minutes, participants to start doing their iProject 30 by filling-out of names on the Prospect portion of the page
Know your customer:
qualify mo na sya
Alam mo na diskarte mo sa kanya
Baka techie sya, techie ka rin ba?
That’s why we have to know how to use technology and powerpoint
Hard selling: “bili ka na nito, mura lang!” wala ka pa ngang pinipresent eh.
Forgetting to bring black ballpen, calculator, and the Application Form!
Practice with your partner for 15mins
Role Play tayo.
Note to Trainer:
Please stress the importance of filling out the Declaration and Representations as these will affect the approval of our client’s application since these questions will determine whether the client is in good health or not. Plus the fact that our insurer, Banclife, is strict about this, we must explain to our participants that truthful answering of these question will not only make the processing of their application faster, but can also avoid pending cases that may result to non-approval of their application.
Those who are qualified to pre-screen an application form are the following:
Territory Head
Regional Sales Manager
TH’s Secretary
RSM’s Secretary
Area Manager
Branch Services Officers/Customer Service Assistants
