Longer life expectancies and changing family structures are prompting Filipinos to rethink retirement and long-term financial planning, as AIA Philippines and BPI AIA introduce two participating whole-life insurance products designed to provide lifetime protection and guaranteed income.
AIA Platinum Secure and BPI AIA ADDvantage combine lifetime insurance coverage with guaranteed cash payouts, milestone bonuses and potential dividends, giving policyholders additional financial resources for retirement, emergencies and other major life milestones.
The launch comes as Filipinos aged 60 and above account for 9.6% of the country’s population, a figure projected to reach around 11% by 2030. Longer lifespans, smaller families and rising healthcare costs are also creating greater demand for financial solutions that can support Filipinos later in life.
Under both plans, policyholders receive guaranteed cash payouts equivalent to 10% of the policy’s face amount every other year. The payouts begin at the end of the fifth policy year for single-pay and 2-pay plans, and at the end of the eighth policy year for 5-pay, 10-pay and 20-pay plans.
The products also provide milestone bonuses equivalent to 25% of the policy’s face amount at ages 80 and 90, along with a guaranteed maturity benefit at age 100.
Customers can choose from single-pay, 2-pay, 5-pay, 10-pay and 20-pay payment options. Optional riders are also available for hospitalization, critical illness, accidents, disability and other health-related risks.
Both plans may additionally earn dividends depending on company performance, potentially increasing the overall value of the policies over time.
According to AIA Philippines CEO Melita Teo, the solutions are designed to help Filipinos build financial confidence and resilience as their needs evolve throughout longer lives.
