Product Training - Pension
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Transcript of Product Training - Pension
Basic Sales Training: Pension
The Pre-Need Plan Concept was first introduced in the
Philippines in 1966.
The Pre-Need Concept
…is about solving a definite need or problem long before the need arises.
…revolves around the idea that in life, there are future events that will happen which will create problems for the family.
Pre-Need…
…and since we know it will happen, why not prepare for it before it happens?
…Pre-Need is about providing a solution way before a problem exists
What Definite Problems are we bound to face?
1. The need for education to improve our standard of living
2. Old Age
3. Death
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
Solving it the At-Need Way
1. You are under pressure.2. You are in a hurry.3. You are emotionally disturbed.4. Other problems and worries come into
play.5. Some people will take advantage of
your emotional state.6. Somebody else is making the decision.
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
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.
A Pre-Need Agent sells• Peace of Mind
• Investment
• Protection
• Assurance
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
Think about this:
It is better to
have a plan and you don’t need itthan to
need a plan and you don’t have it!
Why
• One of the leading Pre-Need companies with more than 300,000 planholders
• PhP37.9B* Trust Fund
• PhP700M in paid-up capital
• With total paid benefits amounting to PhP2.3 Billion as of 2011
*audited as of December 31, 2011
• Registered in the Securities and Exchange Commission on April 19, 1989
• Formerly known as Philam Plans, Inc.
• PhilsFirst, Inc and Systems Technology Inc. acquired all the shares of Philam Plans, Inc. from Philam Life in September, 2009.
PhilPlans Market Share Against Life Insurance Companies(Based on Premium Income = First Year + Renewal Premiums)
Company Premium Income1 Sunlife 13,884,308,644
2 Philam Life & Gen. 13,507,442,515
3 Phil. Axa 9,983,494,021
4 Pru Life 9,900,022,868
5 Insular Life 7,483,646,727
6 BPI-Philam 6,420,399,324
7 Manulife (Phils) 4,994,562,292
8 SunLife Grepa 3,048,820,156
9 United Cocolife 2,916,473,766
10 PhilPlans First Inc. 1,313,798,853
Source: Business World Top 1000 Corporations & Insurance Commission
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%
3 PhilPlans First, Inc. 1,313,798,853 1,404,139,332 14.68%
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%
9 Ayala Plans 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%
12 Paz Memorial Services, Inc. 8,213,200 12,400,583 0.09%
Total 8,952,138,371 7,504,658,578
Source: Business World Top 1000 Corporations & Insurance Commission
PhilPlans Ranking Against Pre-Need Companies(Based on Net Income = Total Profits – Total Expenses)
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.
(PHP in Million) % Change
PhilPlans First Inc. 1,647 62.9St. Peter Life Plan, Inc. 545 88.5Sun Life Financial Plans, Inc. 12 -Generali Pilipinas 251 -38.5
NET INCOMECOMPANY
The leading pre-need company in the country with40.1 Billion in Trust Funds 40.1 Billion in Trust Funds
(unaudited as of October 2012)
Our Affiliates
• 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)
EUSEBIO H. TANCOChairman
MONICO V. JACOBPresident and CEO
Let’s Talk About Savings
WHY do we need to save?
Period Age Installment
@6% compounded
1 35 20,000 21,200
2 36 20,000 43,672
3 37 20,000 67,492
4 38 20,000 92,742
5 39 20,000 119,506
6 40 20,000 147,877
7 41 20,000 177,949
8 42 20,000 209,826
9 43 20,000 243,616
10 44 20,000 279,433
11 45 - 296,199
12 46 - 313,971
13 47 - 332,809
14 48 - 352,778
15 49 - 373,944
16 50 - 396,381
17 51 - 420,164
18 52 - 445,374
19 53 - 472,096
20 54 - 500,422
21 55 - 530,447
22 56 - 562,274
23 57 - 596,010
24 58 - 631,771
25 59 - 669,677
26 60 - 709,858
27 61 - 752,449
28 62 - 797,596
29 63 - 845,452
30 64 - 896,179
31 65 - 949,950 Total 200,000 949,950
EARLY SAVER
Period Age Installment
@6% compounded
1 35 - -
2 36 - -
3 37 - -
4 38 - -
5 39 - -
6 40 - -
7 41 - -
8 42 - -
9 43 - -
10 44 - -
11 45 20,000 21,200
12 46 20,000 43,672
13 47 20,000 67,492
14 48 20,000 92,742
15 49 20,000 119,506
16 50 20,000 147,877
17 51 20,000 177,949
18 52 20,000 209,826
19 53 20,000 243,616
20 54 20,000 279,433
21 55 20,000 317,399
22 56 20,000 357,643
23 57 20,000 400,301
24 58 20,000 445,519
25 59 20,000 493,451
26 60 20,000 544,258
27 61 20,000 598,113
28 62 20,000 655,200
29 63 20,000 715,712
30 64 20,000 779,855
31 65 20,000 847,846 Total 420,000 847,846
LATE SAVER
36% of working, middle class Filipinos save regularly every month
64% save only when they can
36% of working, middle class Filipinos save regularly every month
64% save only when they can
Filipinos and “Saving”
Source: Moneysense Magazine, September 2008
Why do Filipinos fail to save?
“Mañana” habit Lack of funds / Poor Income Increasing expenses Short-term thinking Lack of knowledge “My children will take care of me
during my old age.”
Source: Moneysense Magazine, September 2008
“It pays to plan ahead.
It wasn’t raining when
Noah built the ark.”
PhilPlansPhilPlansPension PlansPension Plans
Programs Available
1-PayPhP 180,000 minimum Annual Installment
5-PayPhP 20,000 minimum Annual Installment
*Increments of PhP1,000
Mega Plan 30 – 1 PayPNP: PhP 1,000,000.00Single pay, Semi-Annual, Quarterly, and Monthly modes
Term Life Insurance (100% of the PNP) = PhP 1,000,000.00
Credit Life and Disability (Waiver of Installments)Accidental Death and Disability (200% of the PNP) = PhP 2,000,000.00
PhP 1,000,000.00
Return: Return of Investment + YCBTOTAL : PhP 2,350,000.00Php1,000,000 + PhP1,350,000 (PhP50,000 x 27
years)
Full Availment DateReturn of Investment
0
Plan
Anniversary
Maturity Datestart of Yearly Cash BenefitsEquivalent to 5% of the PNP for 27 years
3 6 7 8 9 10 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
4 5
YEARLY CASH BENEFIT Amount (5% of PNP)= PhP50,0001
30
30
Full Availment DateReturn of Investment
Maturity Datestart of Yearly Cash Benefits Equivalent to 5% of the PNP for 23 years
7
21 53 4
Plan Anniversary
8 9 10 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
Term Life Insurance (100% of the PNP) = PhP 500,000.00
YEARLY CASH BENEFIT Amount (5% of PNP)= PhP25,000
PhP 500,000.00Credit Life and Disability (Waiver of
Installments)Accidental Death and Disability (200% of the PNP) = PhP 1,000,000.00
Return: Return of Investment + YCBTOTAL : PhP 1,075,000.00Php500,000 + PhP575,000 (PhP25,000 x 23 years)
Mega Plan 30 – 5 PayPNP: PhP 500,000.00; AI: PhP 100,000.00Single pay, Semi-Annual, Quarterly, and Monthly modes
Insurance Benefits
During the Paying Period
Credit Life Disability Benefit Accidental Death and Disability
During the Paying Period up to Full Availment Date
Term Life Insurance
Credit Life
waiver of payments upon death of the Planholder
if the Planholder dies during the paying period and:
before age 65*: 100% of the balance is waived
between 65 and before 70 years old*: 50% of the balance is waived
*age last birthday
Disability Benefit
waiver of payments upon disablement of the Planholder
if the Planholder becomes totally and permanently disabled** during the paying period and:
before age 65*: 100% of the balance is waived
between 65 and before 70 years old*: 50% of the balance is waived*age last birthday
**subject to a 6-month observation period; disability claim must be filed within 180 days.
Accidental Death and Disability in case of death or disability of the
planholder due to accident during the paying period and:
before age 65*: 200% of the PNP between 65 and before 70 years old*: 100%
of the PNP
*age last birthdayNote: The benefit schedule is attached to the Plan Contract. Disability must be Total and Permanent, subject to a 6-month observation period. Disability claim must be filed within 180 days from the date of accident.
Term Life Insurance
in case of death of the planholder before the Full Availment Date and:
before age 65*: 100% of the PNP between 65 and before 70 years old*: 50%
of the PNP
*age last birthday
Programs Available
1-PayPhP 50,000 minimum* Annual Installment
5-PayPhP 20,000 minimum* Annual Installment
*amount may be increased by increments of PhP1,000
Nova Plan 20 – 1 PayPNP: PhP 1,000,000.00
20
Full Availment DateReturn of Investment
10 11 12 13 14 15 16 17 18 1998
Maturity Datestart of Yearly Cash BenefitsEquivalent to 5% of the PNP for 13 years
7
Single pay, Semi-Annual, Quarterly, and Monthly modes
YEARLY CASH BENEFIT Amount (5% of PNP)= PhP50,000
PhP 1,000,000.00
Term Life Insurance (100% of the PNP) = PhP 1,000,000.00
Credit Life and Disability (Waiver of Installments)Accidental Death and Disability (200% of the PNP) = PhP 2,000,000.00
Return: Return of Investment + YCB TOTAL : PhP 1,650,000.00Php1,000,000 + PhP650,000 (PhP50,000 x 13 years)
0
Plan Anniversary
1
Nova Plan 20 – 5 PayPNP: PhP 500,000.00; AI: PhP 100,000.00
20
Full Availment DateReturn of Investment
Single pay, Semi-Annual, Quarterly, and Monthly modes
YEARLY CASH BENEFIT Amount (5% of PNP)= PhP25,000
PhP 500,000.00
Term Life Insurance (100% of the PNP) = PhP 500,000.00
Credit Life and Disability (Waiver of Installments)Accidental Death and Disability (200% of the PNP) = PhP 1,000,000.00
Return: Return of Investment + YCB TOTAL : PhP 825,000.00Php500,000 + PhP325,000 (PhP25,000 x 13 years)
21 53 4
Plan Anniversary 10 11 12 13 14 15 16 17 18 1998 11 12 13
Maturity Datestart of Yearly Cash BenefitsEquivalent to 5% of the PNP for 13 years
7
Insurance Benefits
During the Paying Period
Credit Life Disability Benefit Accidental Death and Disability
During the Paying Period up to Full Availment Date
Term Life Insurance
Programs Available
5-PayPhP 20,000 minimum* Annual Installment
*amount may be increased by increments of PhP1,000
Ingat Yaman Pitaka – 5 PayPNP: PhP 100,000.00; AI: PhP 20,000.00Annual, Semi-Annual, Quarterly, and Monthly modes
Credit Life andDisability Insurance
Term Life Insurance (100% of the PNP) = PhP 100,000.00
AccidentalDeath andDisability
Maturity Date
10
21 3 4 5
Plan Anniversary
(Waiver of Installments)
(200% of the PNP) = PhP 200,000.00
GUARANTEED MATURITY
BENEFIT (115% of PNP):
PhP 115,000.00
Ingat Yaman Alkansya – 5 PayPNP: PhP 100,000.00; AI: PhP 20,000.00Annual, Semi-Annual, Quarterly, and Monthly modes
Credit Life andDisability Insurance
Term Life Insurance (100% of the PNP) = PhP 100,000.00
AccidentalDeath andDisability
Maturity Date
12
21 3 4 5
Plan Anniversary
GUARANTEED MATURITY
BENEFIT (125% of PNP):
PhP 125,000.00
(Waiver of Installments)
(200% of the PNP) = PhP 200,000.00
Credit Life andDisability Insurance
Term Life Insurance (100% of the PNP) = PhP 100,000.00
AccidentalDeath andDisability
Full Availment
Date
1511 12 131410Maturity Date
start of Yearly Cash Benefits
21 3 4 5
Plan Anniversary
Ingat Yaman Kaban – 5 PayPNP: PhP 100,000.00; AI: PhP 20,000.00Annual, Semi-Annual, Quarterly, and Monthly modes
(80% of PNP):
PhP 80,000.00(Waiver of Installments)
(200% of the PNP) = PhP 200,000.00
Year
YCB AMOUNT
Computation
10th 10% of the MB
PhP 8,000.00
11th 10% of the MB
PhP 8,000.00
12th 15% of the MB
PhP 12,000.00
13th 20% of the MB
PhP 16,000.00
14th 20% of the MB
PhP 16,000.00
TOTAL YCBPhP
60,000.00Return: Return of Investment + YCB
TOTAL : PhP 140,000.00
Php80,000 + PhP60,000
YEARLY CASH BENEFIT
(140% of the PNP)
Guaranteed Maturity Benefit
80% of the PNP payable to the Planholder on the Full Availment Date
Guaranteed Yearly Cash Benefit
will be paid out upon confirmation of the Planholder starting on the Maturity Date
Year Yearly Cash Benefit Amount
Computation
10th 10% of the Maturity Benefit 10% x PhP 80,000.00 = PhP 8,000.00
11th 10% of the Maturity Benefit 10% x PhP 80,000.00 = PhP 8,000.00
12th 15% of the Maturity Benefit 15% x PhP 80,000.00 = PhP 12,000.00
13th 20% of the Maturity Benefit 20% x PhP 80,000.00 = PhP 16,000.00
14th 20% of the Maturity Benefit 20% x PhP 80,000.00 = PhP 16,000.00
TOTAL YEARLY CASH BENEFITS PhP 60,000.00
Insurance Benefits
During the Paying Period
Credit Life Disability Benefit Accidental Death and Disability
During the Paying Period up to Full Availment Date
Term Life Insurance
SUMMARY OF SUMMARY OF BENEFITSBENEFITS
Summary of BenefitsSummary of BenefitsPRODUCT FEATURES
PAY PERIOD/Minimum Investment/ Annual Installment
1-Pay = 180K5-Pay = 20K
1-Pay = 50K5-Pay = 20K
MATURITY 30 20
MATURITY BENEFIT100% of the PNP given on the
30th plan anniversary100% of the PNP given on the
20th plan anniversary
ANNUAL CASH PAY OUT √ √
YEARLY CASH BENEFIT SCHEDULE
5% of the PNP beginning on the 3rd (for 1 Pay) or 7th (for 5 Pay) plan anniversary up to the 29th
plan anniversary
5% of the PNP beginning on the 7th plan anniversary up to the
19th plan anniversary
TOTAL LIVING BENEFITS:
1 Pay: 5% x 27 years + ROI =235% of the PNP
5 Pay: 5% x 23 years + ROI =215% of the PNP
1 Pay & 5 Pay: 5% x 13 years + ROI =
165% of the PNP
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
ACCIDENT & DEATH DISABILITY (AD&D)
200% of the PNP during paying period
200% of the PNP during paying period
TERM LIFE
100% of the PNP during paying & waiting period; ends at Full
Availment or Planholder’s demise
100% of the PNP during paying & waiting period; ends at Full
Availment or Planholder’s demise
TOTAL BENEFITS: (With Insurance)
1 Pay: 535% of the PNP5 Pay: 515% of the PNP
1 Pay & 5 Pay: 465% of the PNP
Summary of Benefits
PRODUCT FEATURES
PAY PERIOD 5 5 5
MATURITY 10 12 15
MATURITY BENEFIT115% of the PNP given
on the 10th plan anniversary
125% of the PNP given on the 12th plan
anniversary
80% of the PNP given on the 15th plan anniversary
ANNUAL CASH PAY OUT N/A N/A √
YEARLY CASH BENEFIT SCHEDULE
N/A N/A
10th year: 10% of the Maturity Benefit
11th year:10% of the Maturity Benefit
12th year:15% of the Maturity Benefit
13th year:20% of the Maturity Benefit
14th year:20% of the Maturity Benefit
TOTAL LIVING BENEFITS: 115% of PNP 125% of PNP 140% of PNP
Note: Minimum Annual Installment Amount = PhP20,000
Summary of Benefits
PRODUCT FEATURES
CREDIT LIFE Yes, during the Paying Period
Yes, during the Paying Period
Yes, during the Paying Period
DISABILITY BENEFITYes, during the Paying Period
Yes, during the Paying Period
Yes, during the Paying Period
ACCIDENT & DEATH DISABILITY (AD&D)
200% of the PNP during paying period
200% of the PNP during paying period
200% of the PNP during paying period
TERM LIFE
100% of the PNP during paying &
waiting period; ends at Maturity or
Planholder’s demise
100% of the PNP during paying &
waiting period; ends at Maturity or
Planholder’s demise
100% of the PNP during paying &
waiting period; ends at Full Availment or Planholder’s demise
TOTAL BENEFITS: (With Insurance) 415% of PNP 425% of PNP 440% of PNP
Note: Minimum Annual Installment Amount = PhP20,000
COMMON COMMON FEATURESFEATURES
Acceptance Age
With Insurance Benefit
No Insurance Benefit
18 – 69 years old* 18 – 99 years old
In good health
Note: A Planholder with insurance benefits will undergo a 1-Year Contestability.
*age last birthday
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 1 YEAR FROM EFFECTIVITY DATE
The insurer can no longer contest claims after the plan has remained in force for (1) year except for gross fraud.
January 1, 2014January 1, 2013
Incontestability
Transferability
The Planholder may transfer the rights and privileges in the Plan Contract to another person subject to the following:
Plan Contract must be in force
Request must be made in writing, in a standard company form provided by PhilPlans, Inc.
Transferability
New Application form signed by the person to whom the plan is to be transferred
Prospective Planholder will be treated as a New Planholder and will be subject to underwriting requirements for purposes of insurance coverage.
Transferability
The transfer shall be subject to the same Terms and Conditions of the Original Policy Contract.
New Planholder will receive a new Policy Contract upon approval.
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.
Reinstatement
Pure Reinstatement all overdue installments are paid with
surcharge at the prevailing rate, plus fees and other charges
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
Note: Planholder will undergo 1 year contestability after Reinstatement
Reinstatement Overview
Grace PeriodDELINQUENT
Reinstatement PeriodLAPSED
Last Due Date
60 Days
Quick Paid-Up Status
2 Years
Plan Termination Value
Reinstate to Original Maturity/Full Availment Benefit
Reduced Maturity Benefit
2 Types of Reinstatement:
1.Pure Reinstatement2.Redating
Note: the Planholder will undergo 1 year contestability after Reinstatement
Semi-Annual = 0.525 x Annual Installment
Quarterly = 0.267 x Annual Installment
Monthly = 0.090 x Annual Installment
Modal Factorsfor Pension Plans
5.88%*
VAT Ratefor Pension Plans
*49% of the Gross Installment Amount x 12% VAT
QUALIFYING YOUR QUALIFYING YOUR PROSPECTSPROSPECTS
M - MoneyA - Authority to
decideN - NeedA - Accessibility
Qualifying Prospects
WORKSHOP: iPROSPECT 30
HOW TO SELLHOW TO SELL
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.
30
Full Availment DateReturn of Investment
Maturity Datestart of Yearly Cash Benefits Equivalent to 5% of the PNP for 23 years
7
21 53 4
8 9 10 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
YEARLY CASH BENEFIT Amount (PhP25,000 x 23 years) = P575,000
P500,000
Return: Return of Investment + YCBTOTAL : P1,075,000
P500,000 + P575,000
Accidental Death and
Disability (200% of PNP) =
P1,000,000
Credit Life
Disability Benefit
Term Insurance (100% of PNP) = P500,000
0
P105,880P105,880
P105,880 P105,88
0
P105,880
Paying PeriodPlanholder to invest
P105,880 for 5 years
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k
Yearly Cash Benefit: P25,000Total Yearly Cash Benefit: P575,000Return of Investment: P500,000Total Return: P1,075,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P105,880
Full Availment DateReturn of Investment
Maturity Datestart of Yearly Cash Benefits Equivalent to 5% of the PNP for 13 years
P500,000
Return: Return of Investment + YCBTOTAL : P825,000
P500,000 + P325,000
Accidental Death and Disability
(200% of PNP) = P1,000,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest
P105,880 for 5 years
20
YEARLY CASH BENEFIT Amount (PhP25,000 x 13 years) = P325,000
21 53 4
1098 11 12 13 14 15 16 17 18
1911 12 13
0
P105,880 P105,88
0
P105,880 P105,88
0
P105,880 7
25k
Term Insurance (100% of PNP) = P500,000
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
Yearly Cash Benefit: P25,000Total Yearly Cash Benefit: P325,000Return of Investment: P500,000Total Return: P825,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P105,880
Maturity DateReturn of Investment
Equivalent to 115% of the PNP
Return: P115,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
10
21 53 40
P21,176 P21,17
6
P21,176 P21,17
6
P21,176
Term Insurance (100% of PNP) = P100,000
Return of Investment: P115,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
Maturity DateReturn of Investment
Equivalent to 125% of the PNP
Return: P125,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
12
21 53 40
P21,176 P21,17
6
P21,176 P21,176
P21,176
Term Insurance (100% of PNP) = P100,000
Return of Investment: P125,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
Full Availment DateMaturity Benefit Equivalent to 80% of the PNP
Maturity Datestart of Yearly Cash Benefits P80,000
Return: Maturity Benefit + YCBTOTAL : P140,000
P80,000 + P60,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
15
YEARLY CASH BENEFIT Amount =
P60,000
21 53 4
10 11 12 13 14
0
Term Insurance (100% of PNP) = P100,000
8k8k
12k16k
16k
YearYearly Cash
Benefit Amount
10th 10% of MB = P8,000
11th 10% of MB = P8,000
12th 15% of MB = P12,000
13th 20% of MB = P16,000
14th 20% of MB = P16,000
Maturity Benefit: P80,000Total Yearly Cash Benefit: P60,000Total Return: P140,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
P21,176 P21,17
6
P21,176 P21,176
P21,176
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30
Full Availment DateReturn of Investment
Maturity Datestart of Yearly Cash Benefits Equivalent to 5% of the PNP for 23 years
7
21 53 4
8 9 10 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
YEARLY CASH BENEFIT Amount (PhP25,000 x 23 years) = P575,000
P500,000
Return: Return of Investment + YCBTOTAL : P1,075,000
P500,000 + P575,000
Accidental Death and
Disability (200% of PNP) =
P1,000,000
Credit Life
Disability Benefit
Term Insurance (100% of PNP) = P500,000
0
P105,880P105,880
P105,880 P105,88
0
P105,880
Paying PeriodPlanholder to invest
P105,880 for 5 years
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k
Yearly Cash Benefit: P25,000Total Yearly Cash Benefit: P575,000Return of Investment: P500,000Total Return: P1,075,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P105,880
Full Availment DateReturn of Investment
Maturity Datestart of Yearly Cash Benefits Equivalent to 5% of the PNP for 13 years
P500,000
Return: Return of Investment + YCBTOTAL : P825,000
P500,000 + P325,000
Accidental Death and Disability
(200% of PNP) = P1,000,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest
P105,880 for 5 years
20
YEARLY CASH BENEFIT Amount (PhP25,000 x 13 years) = P325,000
21 53 4
1098 11 12 13 14 15 16 17 18
1911 12 13
0
P105,880 P105,88
0
P105,880 P105,88
0
P105,880 7
25k
Term Insurance (100% of PNP) = P500,000
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
Yearly Cash Benefit: P25,000Total Yearly Cash Benefit: P325,000Return of Investment: P500,000Total Return: P825,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P105,880
Maturity DateReturn of Investment
Equivalent to 115% of the PNP
Return: P115,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
10
21 53 40
P21,176 P21,17
6
P21,176 P21,17
6
P21,176
Term Insurance (100% of PNP) = P100,000
Return of Investment: P115,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
Maturity DateReturn of Investment
Equivalent to 125% of the PNP
Return: P125,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
12
21 53 40
P21,176 P21,17
6
P21,176 P21,176
P21,176
Term Insurance (100% of PNP) = P100,000
Return of Investment: P125,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
Full Availment DateMaturity Benefit Equivalent to 80% of the PNP
Maturity Datestart of Yearly Cash Benefits P80,000
Return: Maturity Benefit + YCBTOTAL : P140,000
P80,000 + P60,000
Accidental Death and Disability
(200% of PNP) = P200,000
Credit Life
Disability Benefit
Paying PeriodPlanholder to invest P21,176 for 5 years
15
YEARLY CASH BENEFIT Amount =
P60,000
21 53 4
10 11 12 13 14
0
Term Insurance (100% of PNP) = P100,000
8k8k
12k16k
16k
YearYearly Cash
Benefit Amount
10th 10% of MB = P8,000
11th 10% of MB = P8,000
12th 15% of MB = P12,000
13th 20% of MB = P16,000
14th 20% of MB = P16,000
Maturity Benefit: P80,000Total Yearly Cash Benefit: P60,000Total Return: P140,000Pre-Need Price: P100,000Paying Period: 5 yearsAnnual Installment: P21,176
P21,176 P21,17
6
P21,176 P21,176
P21,176
POTENTIAL INCOMEPOTENTIAL INCOME
Commission
For 1-Pay
Basic Commission
Year 1 5% of FYP
Agents’ Bonus
Year 1 1% of FYP
48,50011,50060,000Total
POTENTIAL INCOME = PhP 48,500.00
Mega Plan 1/30Annual Installment of PhP1,000,000 X 1 Plan per month
1,500(Tax (15%))
10,000.00(Tax (15%) & CBR (5%))
LESS1st Year GROSS
BASIC COMMISSION
1st Year NETBASIC
COMMISSIONBasic Commission 50,000 40,000
Agents’ Bonus 10,000 8,500
Sample Computation
For 1-Pay
**For every 4 PC or PhP50,000 FP (cumulative) validated every month
Basic Commission
Year 1 5% of FYP
Agents’ Bonus
Year 1 5% of FYP
Productivity Bonus**
Year 1 5% of FYP
Commission
125,00025,000150,000Total
POTENTIAL INCOME = PhP 125,000.00
Nova Plan 1/20Annual Installment of PhP1,000,000 X 1 Plan per month
15,000.00(Tax (15%) for Agent’s Bonus & Productivity
Bonus)
10,000.00(Tax (15%) & CBR (5%))
LESS1st Year GROSS
BASIC COMMISSION
1st Year NETBASIC
COMMISSIONBasic Commission 50,000 40,000
Agents’ Bonus 50,00085,000Productivity
Bonus 50,000
Note: with the assumption that the parameters for Productivity Bonus was met
Sample Computation
Basic Commission
Year 1 20% of FYP
Agents’ Bonus
Year 1 9.7% of FYP
Productivity Bonus**
Year 1 5% of FYP
For 5-Pay
**For every 4 PC or PhP50,000 FP (cumulative) validated every month
Commission
28,4956,20534,700Total
POTENTIAL INCOME = Net Basic Commission x 4 Plans P 28,495 x 4 = PhP 113,980.00
Mega Plan 5/30Annual Installment of PhP100,000 X 4 Plans per month
P2,205.00(Tax (15%) for Agent’s Bonus & Productivity
Bonus)
P4,000.00(Tax (15%) & CBR (5%))
LESS1st Year GROSS
BASIC COMMISSION
1st Year NETBASIC
COMMISSIONBasic Commission 20,000 16,000
Agents’ Bonus 9,70012,495Productivity
Bonus 5,000
Note: with the assumption that the parameters for Productivity Bonus was met
Sample Computation
Agency Leaders & AssociatesProtection Program (Sales Counselors)Agency Leaders & AssociatesProtection Program (Sales Counselors)
NOTE: Parameters and Benefits are subject to change annually.NOTE: Parameters and Benefits are subject to change annually.
Classification BRONZE SILVER GOLD
RECOGNITION TIER 50,000 FP & 8 PCs 150,000 FP & 10 PCs 750,000 FP & 12 PCs
Term Insurance
Below 65 years old 50,000 100,000 150,000
65 to 70 years old 10,000 20,000 30,000
PhilCare - - - - - -
License Fees - - - - - - Waived
HOW TO FILL OUT AN HOW TO FILL OUT AN APPLICATION FORMAPPLICATION FORM
J U A N A N T O N I O
S A N T O S
D E L A C R U Z
01 01 1 9 8 0
Business
Businessman – Mini Grocery
ABC & D Manufacturing Co.
123-456-789
0919 894-7253
(02) 894-7253
N/A
(02) 927-9446
(02) 888-0000
Manila
Maria Antonia F. Santos
N/A
N/A
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
D E L A C R U Z , J U A N A C. 12 12 1 9 8 0 Spouse
Mega Plan 30 5 yrs.30 yrs.
Php 100,000Php 500,000
Php 500,000
Php 100,000Php 5,880
Php 106,180
Php 300
5’ 8” 140 lbs.
APE, 06/01/09, in good health
JASDelaCruzJuan Antonio S. Dela Cruz
1st February 2012 Makati City
JASDelaCruz JASDelaCruz
JASDelaCruzJuan Antonio S. Dela Cruz
ASantos Angela Santos 1234567891 0918-808-0000100%N/AN/A
Qualified pre-screeners are the following: Territory Head, Regional Sales Manager, TH’s Secretary, RSM’s Secretary, Area Manager and all Branch Services Officers/Customer Service Assistants
JFernandezJohn Fernandez (AM) Anna ReyesAnna Reyes (RSM)1 1 2012 1 1 2012
PhilPlansPhilPlansPension PlansPension Plans