Insurance would probably be the last thing that many young people like me would spend money on.
“Getting insured” seems apt only for the sick and aging people. In the Philippines, getting an insurance plan is the least of the majority’s concern, since many of the Filipinos would rather buy food for the table than shell out thousands of pesos for something intangible as “assurance for the future.” For the many working class, insurance (GSIS in my case before) is the Php1,000 deducted monthly (from a salary of Php20,000+), but given the chance, I bet they’d rather spend the thousand pesos on something else like an Internet connection, a night out, or a Forever 21 dress.

Not so many people concern themselves with what lies ahead, perhaps because we think that, instead of worrying ourselves with the future, we should concentrate on NOW, the present. Come what may~ that’s their motto.
Of course, there’s nothing wrong with enjoying the present. Problem is, most of the time, when the unexpected happens, say an accident or death, many Filipinos who didn’t prepare for the future are caught off guard. I’ve seen so many interviews in news where the relatives of the departed would say “Hindi namin alam kung saan kami kukuha ng pampalibing” or “Hindi namin alam kung paano na kami ngayon.” That’s because the average Philippine wage is not enough to convince us to buy insurance plans.
Late last year, my sister asked me to meet a young lady who offered her premium insurance. This lady, Izah Morales, is a former staff of the University paper that I was also part of, but Izah belongs to a younger batch, so I never really had a chance to know her. That time, my sister had gone back to Singapore and Izah needed her to accept the policy so I agreed to meet her.
When Izah and I met, she turned out to be a polite, likable person who smiles like a child (who would resist her offers? It’s like saying no to a smiling kid).
I was a bit surprised that the insurance is Pru Life UK (okay, they should pay me for this PR-ish blog). It’s a well-advertised insurance company in the Philippines and Singapore. First time I saw a Pru Life billboard ad in Cebu in 2006 (I think), I pointed it out to my friend Kei and remarked that even the advocacy ads in English are Bisayan. She said, she thinks there’s a company called Pru Life. And I thought it was Bisayan for Pro-Life. Later on, I was told that it’s short for Prudential, but since there’s already such company registered in the Philippines, they used the nick name. Pru Life ads can also be seen in nice glossies and other media. To be honest, since I have no interest in insurance, the only insurance companies I know were Philam Life, Coco Life, Prudential Life and, of course, GSIS and SSS.

I got curious how much the insured ones will be getting and how much they have to pay every month. She explained some of the policy terms and I thought it cool. Being the entrepreneur that Izah is, she asked if I’d be interested to get one myself. I’ve been thinking of deaths late last year because of a number of people around me dying, one is from accident, another is heart attack. What I didn’t like about death, should I die right now for instance, is the thought of leaving my family. I’m a breadwinner. I’m the type of person who would give what I have, especially if we’re talking about family here. Sometimes, I forget about my budget and savings to accommodate their needs (I have six brothers woohoo). Thankfully, my salary allows me to give them enough while leaving enough for myself (it’s win-win). But then again, should something happen to me, I might not be prepared, financially speaking (knock on the wood). The Filipinos’ common way out of this is debts. Mangungutang na lang ako, as we commonly hear. Middle class families like ours would usually rely on relatives in times like this, instead of going to formal loan firms. But as everybody, anyone who has ever borrowed money, knows, debts are not the most comfortable thing to nurse in your mind.
I told Izah that I’d think about it. Since I was still finishing my cup of hot chocolate that time and she seemed exhausted from the long trip she just had to meet me, she used the time to briefly explain that today’s insurance is different now, like, aside from protection, life insurance may include investment policies if you opt for it. Part of your money can be put in the stocks (they have stock managers) and equities and all those big financial words.
I told her, I’d think about it, she said she’ll email me the policy options and contract terms, and I gave her a heads up that I might not understand it completely, but I’ll ask someone’s help (someone who’s more financially literate). But that time, I was starting to consider it. The lowest option Php3,000 is roughly a hundred Sing dollars. Not bad, I thought. Plus, I can withdraw it in due time. Plus, if anything happens to me, there’s a ready money to bury me and some more to leave my family (all this talk of insurance will really nudge you to look at the realities you don’t want to look at, yet).
Long story short, I met up with Izah again for her to “present” to me. We were in Starbucks, so people around us could easily hear Izah’s voice talking while pointing at her laptop (she has a Powerpoint presentation). Nobody would guess that the two of us were talking about insurance and investments. We’re more like college classmates practicing our Econ report, while drinking overpriced coffee. I had no problems understanding the stocks, but equities and actuarial computations, man… I should’ve brought along my brother whose major is Actuarial Science, whatever that is). I asked some questions and she would answer them all brightly. Then documents were prepared (I seem to be signing lots of documents lately).
There’s one part in our conversation, though, when I was expecting her to be discouraged. I know that insuring me is a high risk. I love outdoor adventure, I travel a lot, I could die anytime given the exposure I openly throw myself to. When I pointed this out to her, she laughed and couldn’t respond for a while, because there’s truth to it. Then we jokingly decided that I shall not have an accident and, uh, I wouldn’t die yet.
I signed the contract.
Is it still good until now? I’m planning to get an insurance in Pru life but I don’t have any idea about the company
Yes, it’s still good. I have sent you an email so we could discuss it further.
Same question.. been researching about it for quite some time now..
Hi Rara! Would you like to be contacted via your email?
“that’s the spirit! we’re all going to get old anyway, so why not spending our money on the thing they called “bright future” right? we just don’t know what might happen when that bright future comes so why not spend (while we’re still earning good income) our money on our future? ” -did your agent say that too? Because my agent did. He’s from pru-life in Spain. I did the same way – I also signed the contract after the presentation 🙂
Hi, Ted. Yeah, she did. Looks like Pru Life’s market is a pretty neat lot.
THanks for dropping by!
Stay safe always, Ms.Ai. But getting an insurance is always a right thing. 🙂
or saving could be an option for people like me who finds saving money extremely challenging 😀
hello there,you just made d right choice.welcome to Pru Life U.k
You made the right choice. You ( and your family) will thank your agent in the near future. I have PRU LIFE policies as well. The nice thing with it is that there is a LIVING BENEFIT, which basically means you can enjoy your premium returns while you are still alive.
Think of it as a FORCED SAVINGS PLAN rather than additional expense.
Hi Ms. ai,
How is PRU life uk so far?
Hi Ms, Ai! I’m also considering of getting a Pru Life insurance. The contract is already with me, just waiting for my signature. Same question, how’s it so far?
Thank you!
Hello, Paolo and Danica. So far, so good. I’ve withdrawn some amount when I needed it early this year (the earnings from my equity funds), then ‘returned’ it by topping up, so that the money could continue earning. Insurance premium was beefed up when I topped up.
Hi Miss Ai,
So happy for you that you choose the right insurance company. I’m also a Financial Advisor of Pru Life UK and I can really say that the company has a good reputation and besides our Fund Manager is Asia’s Largest Retail Asset Manager for 3 years in a row 😀
Hi Ms. Ai,
What is the insurance plan that you applied from Pru Life UK?
Please advise. I will be getting one later this year and I need to know their benefits. Thanks! 🙂
Hi,
Are you still interested in getting an insurance in PruLife?
good decision..peace of mind and financial security are price less especially for breadwinners..
Hi Ms Ai.
How’s pru life UK? And hindi lang ba to same earnings as bank?
Hi, Masako. Managed funds can have higher interest rates, you may earn more than banks, but keep in mind that the performance of funds depends on many factors such as the economy.
nakakatuwang magbasa ng mga ganito…i’m planning to get an account sa pru life uk… last week lang nagtalk sa akin yung agent… and i find it interesting… i’m worried not only for myslef but for my 6-year old daughter… thank you for this write-up 🙂
Hi Ai, I also consider getting an insurance in PruLife UK just like what you have now. I like to be insured for security reasons, and at the same time my money is getting bigger. However, I really don’t have an idea how to start. I am only 21 years old and it has been my plan since I’ve started working. I just want to know if there is an amount that you need to pay in order to have an insurance just like in a bank? For an instance, you need to have 20,000 which will be your starting… Read more »
Hi Jomarkhun, it depend on how much you can save per month, if you could save Php 3,000 per month much better. You can start your plan by paying 3th monthly or less. If your interested i can send a proposal to your email account. Thanks
don’t always think that the money is getting bigger. I started in 2003 with monthly contribution of Php5,000. And guess what? the value of the fund is way less than my total contributions like (Php86K).
really?
Hi. Ms. Ai. Lately, I have been thinking on getting an insurance in PruLife UK. Can you also send me a proposal to my email account? Thanks.
hi Niña!
I’m a Financial Advisor of Pru Life.
here is my number 09163592183
I’ll be waiting for your feedback.
thanks! 🙂
Hi Ms Nina Im Cherry financial Consultant from Pru life Uk.. I can can send proposal to your email account. just email me at cherry_pahati@yahoo.com. Thanks
Im glad na nakakuha ako ng plan sa Prulife UK. PEP10 plan…inisip ko…di ko alam kung kelan ako kukunin..kahit 25 pa lang ako…(knock on wood).haha.siyempre ayaw ko naman iwanan mga anak ko na nakatiwangwang at magsuffer pa…bukod sa protection may investment pa..kaya happy ako sa prulife UK.
hi Ms. AI!
just want to know how was it going? planning to invest and be insured on pru life. thanks in advance!
Hi Nel,
Everything’s good. Here’s an agent’s contact number, kindly call or text him: Mike, 09267116167
Hi Nel,
You may also contact this number, an agent of Pru Makati Branch, Shanne 0918 9853820.
Hi I’m Shanne, I am also a Licensed Financial Advisor from Prulife UK. Please feel free to contact me at 09189853820. I will send you proposal to your email account. Thanks & God Bless.
how much po ba ang investment pag sasali ako dito?
Hi Ms Fatima! It will all depend on your need and your capacity to save. Should you have questions please feel free to text me 0923-523 3888 I will be very much willing to set an appointment with you so I can personally present the program to you. This is Leng Barrozo of Pru life UK.
magkano ba pinakababa?quarterly and semi annual?
Hi MC, Im a Licensed Financial Advisor from PruLife UK. Please fee free to email me at roxanne.obra@yahoo.com and i will help you with your queries..Thank you
Hi MC!
You will be surprised to know the lowest savings that you will be doing with us against the protection benefits that we will (Pru Life UK) be giving you. Its just that we present the program face to face. We can meet at our office at Wynsum Corporate Plaza in Ortigas. Just let me know. 0923 523 3888.
Hi Ai,
can I share this post?
I am a Licensed Financial Consultant of Pru Life UK and I am happy to share interesting and good insights about people who find insurance a better way to secure our future.
Best Regards and Congrats btw
Are the riders applicable hanggang sa nabubuhay pa ako?
Yes, hanggat buhay po kayo.
Should you want an insurance policy for yourself or You want to find an agent from PRU to talk to.. anytime 09177773887 pls contact me
Hi, I’m planninf on getting PruLink Assurance account Plus. I just want to know if eto ba yung investment+ savings plan na pinag investan mo because I’m having doubts becaue of the reviews regarding Prulink protection plus and since it is included in the product package of PAA Plus. I hope anybody could enlighten me. Many thanks
Hi mam Rose if you are in Cebu, I can help you, btw I am Jun Canarecio, I am also a Financial Advisor from PruLife UK you can contact me with this number 09499741888, just text me and I will call you back. ^^
How is the insurance so far?
Insurance of this kind is not good now because of COVID and other poor economic indicators as Variable Life Ins are affected by it. I got mine (PROACTIVE IN 2012) on a 5-year installment where my cash outlay summed up to close to P752K, with a basic sum assured of P681,310.00. After the 5 year payment, i was surprised that my fund value frustratingly dwindled to just over P500K. So i lost more than P250K in it already. Pru explained that it is because they deducted the regular admin costs (annual insurance, annual management charge, initial charge of 6% for… Read more »
Hi Priscilla. This is exactly what I have been looking for in order for me to justify signing or not a VUL insurance being offered to me. Did the agent or anyone from Pru explained how you can recoup the lost amount you have invested?
Hello Priscilla. I happened to see your comment as I’m also enriching my knowledge as Financial Advisor for Pru as I’m new in this profession. May I know how did your agent responded when you brought up this issue regarding the understanding of your annual statement as well as your issue on the feeling of incurring lost in your funds?
I hope you get to resolve this with your agent. Kasi dapat tinitignan din ng agents kung saan yung fund driver na appropriate for you.
Hi po. Thanks for your blog, it helped me as i’m currently weighing my options of getting an insurance policy. God bless.
nice article!