Philams Life OFW Program

Income Continuation Through Protection Products

As an overseas worker, your primary role in the family is to act as the main source of income. Many families depend on the remittance income being sent by OFWs worldwide; however, many fail to plan and prioritize the way it is spent, which results in the continuous delay of the OFW breadwinner’s coming home for good. As long as there is a continuous stream of revenue coming from abroad, the tendency is to become content with the way things are. However, disaster can strike anywhere, anytime and anyone – even you. What will become of the OFW family if tragedy struck? Where will you get the funds to continue the life you are currently enjoying?

Income continuation can be achieved by investing in products that provide protection for the OFW breadwinner. Such products can be found in life insurance. Life insurance is simply an agreement between the policy owner and the insurance company that promises to pay a stated amount of monetary benefits upon the occurrence of a specific event such as death, disability or illness. Protection products, in general, are called whole life insurance, which provides permanent protection for your dependents while building a cash value account (savings component) for the policy owner. It also has a fixed premium so that you know exactly how much you need to invest on a regular basis.

How does life insurance ensure income continuation?

• Life insurance with disability benefits. Disability insurance is an insurance product designed to compensate the insured with a specified sum should a physical or mental incapacity resulting from an injury or illness prevent you from earning an income in your occupation.

• Life insurance with illness benefits. Illness-related insurance is designed to pay a specified lump sum benefit following the diagnosis of a particular illness, usually grave in nature.

• Death benefits. All types of life insurance have a death benefit component that promises to pay a specific amount in the event of the insured’s passing away.

Philamlife offers all types of protection products to address your family’s need for income continuation when misfortune occurs, through the Overall Family Welfare (OFW) Program. Since Philamlife is the country’s number 1 life insurance company, and is backed by one of the world’s largest insurance organizations - the American International Group, Inc. (AIG) - you are assured of its strength, stability and dependability, even in troubled times.(source: ofwguardian)

For inquiries on Philamlife’s OFW Program, call 528-2000, email philamlife.ofwmarket@aig.com or visit our website at www.ofweb.net.ph.

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