For Filipino parents, making the most out of their hard-earned money is always a challenge. For the financially savvy, the challenge is on prioritizing which future need they should save up for. According to recent studies conducted by Philam Life, education always falls among the top five financial priorities across different market segments.
The studies revealed that across market segments, from the Filipino-Chinese to the Younger Affluent and to the Overseas Filipino Workers (OFWs), education is a key priority in Filipino families. The Filipino-Chinese parents consider their children’s education as equally important as spending quality time with their family. Similarly, the Younger Affluent parents prioritize their children’s education over saving up for their retirement. Among OFW parents, many regard the completion of their children’s college education as one of the conditions that would allow them to come home.
Philam Life introduces Future Scholar, an education plan that provides long-term growth potential and guaranteed education benefits.It offers access to Philam Life’s expertly-managed funds and guaranteed education benefits.The plan’s premiums would be waived in case the parent passes away or suffers from a total and permanent disability, and there is an option to get life insurance coverage for the parent that the family can use to supplement the education funding. Customers can choose from two simple payment options – pay over 5 years or pay regularly until the child turns 17.
“Parents are always thinking about the future of their children. They want their childrento finish school and become successful. Philam Life’sFuture Scholar is a product that help them realize their dreams for their children,” said Shum.
To learn about Philam Life’s Future Scholar, please visit http://www.philamlife.com.