| (The Philippine Star) Updated November 25, 2010 12:00 AM |
MANILA, Philippines – Insular Life energy-linked product generates P700-million Insular Life’s latest investment-linked insurance product offer, the i-Dollar Energy 5 was a best-seller. Launched last Oct. 18 and available only until Nov. 8, Insular’s i-Dollar Energy 5 was a principal-protected, five years to mature, single premium dollar-denominated variable life insurance policy that provided investment opportunities in the international energy sector through key equity indexes.
Aside from the appeal of the underlying investment asset because of growing global demand for traditional and alternative energy, the product also had a novel “look-back” feature wherein the four lowest quarterly observation values would be dropped, thus further raising the upside potential return to the investor.
Insular Life’s latest special product offering was so well-received that it generated almost $16 million, or approximately P700 million in new premium revenues. This was more than five times the target volume initially set. The response was unprecedented and eclipsed all previous sales records for the company’s limited product campaigns.
The company began offering innovative investment-with-insurance products in addition to its usual variable unit linked (VUL) insurance line late in 2008 in the aftermath of the US Wall St. financial crisis.
Insular Life chairman and CEO, Vicente R. Ayllon said: “We recognized the anxiety and plight of many Filipinos who were in need of financial safe havens that could provide better earning potential for their excess liquid funds. So we challenged ourselves to be creative and provide such opportunities with the prudence and long-term investment expertise that Insular Life has always been known for.”
The record sales achievement came on the heels of Insular Life’s 100th anniversary on Nov. 25.
Insular Life plans to introduce more new and attractive insurance products.
Aside from the appeal of the underlying investment asset because of growing global demand for traditional and alternative energy, the product also had a novel “look-back” feature wherein the four lowest quarterly observation values would be dropped, thus further raising the upside potential return to the investor.
Insular Life’s latest special product offering was so well-received that it generated almost $16 million, or approximately P700 million in new premium revenues. This was more than five times the target volume initially set. The response was unprecedented and eclipsed all previous sales records for the company’s limited product campaigns.
The company began offering innovative investment-with-insurance products in addition to its usual variable unit linked (VUL) insurance line late in 2008 in the aftermath of the US Wall St. financial crisis.
Insular Life chairman and CEO, Vicente R. Ayllon said: “We recognized the anxiety and plight of many Filipinos who were in need of financial safe havens that could provide better earning potential for their excess liquid funds. So we challenged ourselves to be creative and provide such opportunities with the prudence and long-term investment expertise that Insular Life has always been known for.”
The record sales achievement came on the heels of Insular Life’s 100th anniversary on Nov. 25.
Insular Life plans to introduce more new and attractive insurance products.
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