product training - memorial (basic)
DESCRIPTION
TRANSCRIPT
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1Basic Sales Training: LifeBasic Sales Training: Life
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The Pre-Need Plan Concept was first introduced in the
Philippines in 1966.
The Pre-Need Concept
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…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
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What Definite Problems are we bound to face?
1. The need for education to improve our standard of living
2. Old Age
3. Death
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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
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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.
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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
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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.
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A Pre-Need Agent sells• Peace of Mind
• Investment
• Protection
• Assurance
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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
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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!
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Why
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• 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.
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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
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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
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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)
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Our Affiliates
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• 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)
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EUSEBIO H. TANCOChairman
MONICO V. JACOBPresident and CEO
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But what would happen if…
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… the inevitable occurred?
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What happens to your familywhen you’re gone?
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NUMEROUS HARROWING DETAILS securing death certificate
choosing the servicing mortuary
transporting the body from the place of death to the mortuary
preservation of the body application of cosmetics choosing the burial outfit informing relatives, friends
and colleagues choosing the casket/urn transfer permit (if
transporting to a different municipality)
transporting the body from the mortuary to the venue of the wake
flowers & mass cards refreshments date of interment place of interment time of interment priest (funeral mass) burial permit hearse/vehicle for the
flowers memorial lot/urn interment/cremation fee thank you/sympathy cards
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Studies show thatonly 2 out of every 10 families
have made provisions or preparations for life events such as
this and are protected from the sudden loss of income brought
about by the death of their loved ones.
THE 2/10 PRINCIPLE
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THE USUAL PRACTICESAbuloy – Relying on alms and dole-outs from family and friends during the wake.
Tulong mula sa Kamag-anak - The immediate family seeks financial support from other relatives.
Nagpapasugal - to collect additional money to pay for the funeral expenses.
Nangungutang – Borrowing money from close family members and friends.
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PhilPlansLife Plans
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Panatag ka na ang iyong maiiwanan ay hindi mahihirapan.
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“ Panatag is a Filipino term for peace of mind and confidence.”
Behind the Name
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• Guaranteed Memorial Service Benefit
• Professional Administration of Memorial Service
• Optional Living Cash Benefit• Insurance Benefits
Product Benefits
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Guaranteed Memorial Service Benefit (MSB)• The guaranteed lump sum fund that
will be used in rendering the memorial service.
• Guaranteed annual increase of 5% of the Pre-need price, one plan anniversary after the paying period.
• Cash Difference Benefit
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PhilPlans - Family Assistance Office24/7 (including holidays)
Service Hotlines: 4038583, 8027344 to 45Toll Free: 1-800-10-800-8888
Professional Administrationof Memorial Services• Philplans’ Family Assistance Office (FAO)
provides assistance in arranging and administering the details of the memorial service through accredited mortuaries.
• Spares the planholder’s family from the harrowing ordeals of attending to funeral arrangements.
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METRO MANILA and LUZON
Loyola Mem. Chapels & Crematorium Arlington Memorial Chapels Sanctuarium Heritage Memorial Chapels La Funeraria Paz Nacional Memorial Homes Carbonel Funeral Homes Nuestra Señora De Salvacion Funeraria Samson Saint Louie Memorial Chapel
VISAYAS
Cosmopolitan Memorial Homes Rolling Hills Memorial Chapels San Fernando Funeral Homes
MINDANAO
Cosmopolitan Memorial Homes Greenhills Memorial Chapels La Merced Memorial Homes
Over 200 Accredited Mortuaries NATIONWIDE
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First Call Preservation Viewing Interment
Professional Administrationof Memorial Services
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Phase I – First Call
• Securing of Death Certificate
• Arrangement for the release of the body from the place of death
• Transporting the body to the mortuary
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Phase II – Preservation
• Proper preservation of the body
• Restoration of disfigured features
• Application of cosmetics on the body
• Placement of the body in a chosen casket
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Phase III – Viewing
• Consultation with family on details of the arrangements
• Arrangements for the dignified and solemn viewing of the body
• Preparations for obituary notices, purchase of memorial lot and securing of transfer and burial permits
* During the viewing, RAs will go to the viewing and make sure that everything is in order. Regional Sales Managers are encouraged to join the RAs.* During the viewing, RAs will go to the viewing and make sure that everything is in order. Regional Sales Managers are encouraged to join the RAs.
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Phase IV – Interment
• Funeral cortege leaves on time
• Suitable coach for the deceased
• Appropriate Music
• Transportation
• Coordinated activities required by the deceased’s ethnic or religious groups
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Planholder can choose from
the followingPaying period
options:
1100 22 55
Paying Period
Plan will begin to earn its yearly memorial service benefit increment equivalent to 5% of the Pre-Need Price, one plan anniversary after the Paying Period up to the 40th plan anniversary or the planholder’s demise, whichever comes first.
404040th Plan Anniversary
Credit Life
Disability
Accidental Death and Disability
Planholder is also protected with insurance coverage during the paying period.
Period where plan will earn its yearly MSB increment
Life Plan Overview
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How does the 5% Yearly Increment Work?
Panatag Plan5 years to payPNP: PhP 100,000Mode: AnnualAge: 30Plan Effective Date: Jan 1,2013
Paying Period7070
40th Plan Anniversary
3030
Jan 1, 2013Jan 1, 2013
3311
Jan 1, 2014Jan 1, 2014
3232
Jan 1, 2015Jan 1, 2015
3333
Jan 1,2016Jan 1,2016
3344
Jan 1,2017Jan 1,2017
3535
Jan 1, 2018Jan 1, 2018
MSB Yearly Increment = 5% of the PNP
Yearly Increment Amountbased on the given example =
PhP5,000
MSB Yearly Increment = 5% of the PNP
Yearly Increment Amountbased on the given example =
PhP5,0003636
Jan 1, 2019Jan 1, 2019
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up to the 40th Plan Anniversary or the Planholder’s demise, whichever comes first.
11 22 33 44 55
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Insurance Benefits
• Credit Life
• Disability Benefit
• Accidental Death and Disability
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Length of Insurance Coverage is from age 18 to before age 65 only.Length of Insurance Coverage is from age 18 to before age 65 only.
Credit Life
If the planholder dies during the paying period and before age 65, 100% of the
remaining balance of the plan will be considered fully paid.
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder diesdue to Natural Death on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP30,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP500*= PhP29,500will be covered by Credit Life
Credit Life
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Disability Benefit
Waiver of Installment Upon Disability
If the planholder becomes totally and permanently* disabled during the paying period and before age 65, 100% of the remaining balance of the
plan shall be waived.* Observation Period of 6 months
Length of Insurance Coverage is from age 18 to before age 65 only.Length of Insurance Coverage is from age 18 to before age 65 only.
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder gets disabled on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP30,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP500* = PhP29,500will be covered by Disability Insurance
Disability Benefit
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Accidental Death andDisability
In case of death or disability of the planholder due to accident during the paying period and before age 65, the
insurer shall pay for the indemnities.
Equivalent to 200% of the Pre-Need Price.
Disability must be total and permanent.Benefit schedule is attached to the Plan Contract.Note: Claim must be filed within 180 days from the date of accident.Length of Insurance Coverage is from age 18 to before age 65 only.
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Panatag Life PlanPay Period: 5 yearsPNP: PhP30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder diesdue to Accident on Jan 31, 2013.
Mr. Planholder
JanJanPhP30,000
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJanx 200%= PhP60,000
will be given to the beneficiary/ies
Accidental Death
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder gets disabled due to Accident, and lost both feet on Jan 31, 2013.
Mr. Planholder
JanJanPhP30,000
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJanx 200%= PhP60,000
will be given as indemnity to the Planholder
Accidental Disability
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LOSSINDEMNITY
(% of the Amount of Insurance)
Accidental Disability of Limbs:
Both Hands 100%
Both Feet 100%
One Hand and One Foot 100%
One Hand 50%
Arm between elbow and wrist
60%
Arm at or above elbow 70%
One Foot 50%
Leg below knee 60%
Leg at or above knee 70%
200% of the PNPPNP = PhP30,000
Amt. of Insurance = PhP60,000
PhP60,000
Schedule of Indemnities
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LOSSINDEMNITY
(% of the Amount of Insurance)
Accidental Disability of Limbs:
Both Hands 100%
Both Feet 100%
One Hand and One Foot 100%
One Hand 50%
Arm between elbow and wrist 60%
Arm at or above elbow 70%
One Foot 50%
Leg below knee 60%
Leg at or above knee 70%
Schedule of Indemnities
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LOSS
INDEMNITY(% of the
Amount of Insurance)
Loss of Sight:
Both Eyes 100%
One Eye 50%
Loss of Speech 100%
Loss of Hearing
Both Ears 100%
One Ear 50%
Loss of Use of Metacarpals
First and Second 3%
Third, Fourth or Fifth 2%
Schedule of Indemnities
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LOSSINDEMNITY
(% of the Amount of Insurance)
Accidental Disability of Fingers:
All of one hand 50%
Thumb 15%
Index Finger 10%
Middle Finger 6%
Ring Finger 5%
Little Finger 4%
Accidental Disability of Toes:
All of one foot 25%
Great toe 5%
Other than Great toe, each toe 1%
Schedule of Indemnities
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LOSSINDEMNITY
(% of the Amount of Insurance)
Fractured Leg or patelia with established non-union:
10%
Shortening of leg by at least 5cm.: 7.5%
Schedule of Indemnities
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder diesdue to Accident on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP30,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP500* = PhP29,500will be covered by Credit Life
PhP30,000
x 200%= PhP60,000 will be given to the beneficiary/ies (AD&D)
Summary of Benefitsif death occurs during the Paying Period
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder gets disabled due to accident, and lost both feet on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP30,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP500* = PhP29,500will be covered by Disability Insurance
PhP30,000
x 200%= PhP60,000will be given as indemnity to the Planholder (AD&D)
Summary of Benefitsif disability occurs during the Paying Period
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Panatag Life PlanPay Period: 5 yearsPNP: PhP 30,000 Mode: MonthlyMonthly Installment:PhP594.83Effective Date: Jan 1,2013
Planholder diesdue to Natural Death on Dec 31, 2018.
Mr. Planholder
JanJan
20132013
JanJan
20142014
JanJan
20152015
JanJan
20162016
JanJan
20172017
JanJan
20182018
Memorial Service Benefit
= PhP30,000
Summary of Benefitsif death occurs after the Plan is fully paid
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PAYING PERIOD
OPTIONSMINIMUM INSTALLMENT AMOUNT*
ANNUAL MONTHLY
Inclusive of VAT
Inclusive of VAT
1 25000 26650 2325 2478.45
2 13000 13858 1209 1288.79
5 6000 6396 558 594.83
Annual, Semi-Annual, Quarterly and Monthly modes of payment available.
* Amount may be increased by increments of PhP1,000.
Minimum Installment Amount
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5- Pay PhP 30,000
2- Pay PhP 26,000
1- Pay PhP 25,000
The Initial Memorial Service Benefit isEquivalent to the Pre-Need Price
Minimum Initial MemorialService Benefit
* Amount may be increased by increments of PhP1,000.
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Walang gustong maging pabigat sa pamilya. Bigyan sila ng kapayapaan sa panahon nang
kawalan
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“ Payapa is a Filipino term for tranquil or serene.”
Behind the Name
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• Guaranteed Memorial Service Benefit
• Professional Administration of Memorial Service
• Optional Living Cash Benefit• Insurance Benefits
Product Benefits
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Term Life
Planholder can choose from
the followingPaying period
options:
1100 22 55
Paying Period
Plan will begin to earn its yearly memorial service benefit increment equivalent to 5% of the Pre-Need Price, one plan anniversary after the Paying Period up to the 40th plan anniversary or the planholder’s demise, whichever comes first.
404040th Plan Anniversary
Credit Life
Disability
Accidental Death and Disability
Planholder is also protected with insurance coverage during the paying period.
Period where plan will earn its yearly MSB increment
Life Plan Overview
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Insurance Benefits
• Credit Life
• Disability Benefit
• Accidental Death and Disability
• Term Life Insurance
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The insurance benefit shall be equal to the Plan Value of the Memorial Service Benefit, given to the Beneficiary upon the Planholder’s demise.
The insurance coverage shall terminate upon the Planholder’s demise, his/her attainment of age 65 or at the 40th plan anniversary, whichever comes first.
Term Life Insurance
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Payapa Life PlanPay Period: 5 yearsPNP: PhP 50,000 Mode: MonthlyMonthly Installment:PhP991.38Effective Date: Jan 1,2013
Planholder diesdue to Accident on Jan 31, 2013.
Mr. Planholder
JanJan PhP50,000
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJanx 100%= PhP50,000will be given to the beneficiary/ies
Term Life Insurance
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Remaining balance is waived. Plan is considered fully paid.
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan= PhP100,000
= PhP50,000PhP150,000 will be given to
the beneficiary/ies
Payapa Life PlanPay Period: 5 yearsPNP: PhP 50,000 Mode: MonthlyMonthly Installment:PhP991.38Effective Date: Jan 1,2013
Planholder diesdue to Accident on Jan 31, 2013.
Mr. Planholder
JanJan
PhP50,000
*Amount paid exclusive of modal loading and VAT
- PhP833.33*
= PhP49,166.67
will be covered by Credit Life
PhP50,000
x 200%will be given to the beneficiary/ies (AD&D)
PhP50,000
x 100% will be given to the beneficiary/ies (Term)
Summary of Benefitsif death occurs during the Paying Period
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Payapa Life PlanPay Period: 5 yearsPNP: PhP 50,000 Mode: MonthlyMonthly Installment:PhP991.38Effective Date: Jan 1,2013
Planholder gets disabled due to accident, and lost both feet on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP50,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP833.33*
= PhP49,166.67
will be covered by Disability Insurance
PhP50,000
x 200%= PhP100,000will be given as indemnity to the Planholder (AD&D)
Summary of Benefitsif disability occurs during the Paying Period
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Payapa Life PlanPay Period: 5 yearsPNP: PhP 50,000 Mode: MonthlyMonthly Installment:PhP991.38Effective Date: Jan 1,2013
Planholder diesdue to Natural Death on Dec 31, 2018.
Mr. Planholder
JanJan
20132013
JanJan
20142014
JanJan
20152015
JanJan
20162016
JanJan
20172017
JanJan
20182018
Memorial Service Benefit
= PhP50,000Term Insurance Benefit= PhP50,000
Summary of Benefitsif death occurs after the Plan is fully paid
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PAYING PERIOD
OPTIONSMINIMUM INSTALLMENT AMOUNT*
ANNUAL MONTHLY
Inclusive of VAT
Inclusive of VAT
1 40000 42640 3720 3965.52
2 20000 21320 1860 1982.76
5 10000 10660 930 991.38
Annual, Semi-Annual, Quarterly and Monthly modes of payment available.
* Amount may be increased by increments of PhP1,000.
Minimum Installment Amount
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Minimum Initial MemorialService Benefit
5- Pay PhP 50,000
2- Pay PhP 40,000
1- Pay PhP 40,000
The Initial Memorial Service Benefit isEquivalent to the Pre-Need Price
* Amount may be increased by increments of PhP1,000.
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Ipamana sa pamilya ang pagmamahal na walang hanggan.
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“ Pamana is a Filipino term for inheritance.”
How to Explain Pamana
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Product Benefits
• Guaranteed Memorial Service Benefit
• Professional Administration of Memorial Service (PAMS)
• Fully Paid New Life Plan (Additional Life Plan Benefit)
• Optional Living Cash Benefit• Insurance Benefits
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The chosen beneficiary of the planholder will be entitled to a fully paid new life plan.
Fully Paid New Life Plan(Additional Life Plan Benefit)
*Planholder may assign fully paid new life plan to one beneficiary only
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should be filled out, signed and attached to the Application Form
the Beneficiary whose name is indicated on the Endorsement Letter should also be written as the first primary beneficiary on the application form
Pamana Endorsement Letter
*Planholder may assign fully paid new life plan to one beneficiary only
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Condition 1: If Planholder dies before age 65 and chosen beneficiary is within the acceptance age and is in good health
- Beneficiary will avail of the additional Life Plan*
Fully Paid New Life Plan(Additional Life Plan Benefit)
*May be a Life plan or any existing Pre-Need product at the time of availment.
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Condition 2: If Planholder dies before age 65 and chosen beneficiary is no longer within the acceptance age and/or is not in good health
- Beneficiary will be enrolled in a Pre-Need Plan* without insurance benefits.
Fully Paid New Life Plan(Additional Life Plan Benefit)
*May be a Life plan or any existing Pre-Need product at the time of availment.
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Term Life
Planholder can choose from
the followingPaying period
options:
1100 22 55
Paying Period
Plan will begin to earn its yearly memorial service benefit increment equivalent to 5% of the Pre-Need Price, one plan anniversary after the Paying Period up to the 40th plan anniversary or the planholder’s demise, whichever comes first.
404040th Plan Anniversary
Credit Life
Disability
Accidental Death and Disability
Planholder is also protected with insurance coverage during the paying period.
Period where plan will earn its yearly MSB increment
Life Plan Overview
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Insurance Benefits
• Credit Life
• Disability Benefit
• Accidental Death and Disability
• Term Life Insurance
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Summary of Benefitsif death occurs during the Paying Period
Pamana Life PlanPay Period: 5 yearsPNP: PhP 125,000 Mode: MonthlyMonthly Installment:PhP2478.45Effective Date: Jan 1,2013
Planholder diesdue to Accident on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
2478.452478.45
PhP125,000
*Amount paid exclusive of modal loading and VAT
FebFeb
2478.452478.45
MarMar
2478.452478.45
AprApr
2478.452478.45
MayMay
2478.452478.45
JuneJune
2478.452478.45
JulyJuly
2478.452478.45
AugAug
2478.452478.45
SepSep
2478.452478.45
OctOct
2478.452478.45
NovNov
2478.452478.45
DecDec
2478.452478.45
JanJan
2478.452478.45
- PhP2083.33*= PhP122,916.67
will be covered by Credit Life
PhP125,000
x 200%= PhP250,000will be given to the beneficiary/ies (AD&D)
PhP125,000
x 100%= PhP125,000
will be given to the beneficiary/ies (Term)
PhP375,000 will be given to the beneficiary/ies
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Summary of Benefitsif disability occurs during the Paying Period
Pamana Life PlanPay Period: 5 yearsPNP: PhP 125,000 Mode: MonthlyMonthly Installment:PhP2478.45Effective Date: Jan 1,2013
Planholder gets disabled due to accident, and lost both feet on Jan 31, 2013.
Remaining balance is waived. Plan is considered fully paid.
Mr. Planholder
JanJan
PhP125,000
*Amount paid exclusive of modal loading and VAT
FebFeb MarMar AprApr MayMay JuneJune JulyJuly AugAug SepSep OctOct NovNov DecDec JanJan
- PhP2083.33*
= PhP122,916.67
will be covered by Disability Insurance
PhP125,000
x 200%= PhP250,000will be given as indemnity to the Planholder (AD&D)
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Summary of Benefitsif death occurs after the Plan is fully paid
Pamana Life PlanPay Period: 5 yearsPNP: PhP 125,000 Mode: MonthlyMonthly Installment:PhP2478.45Effective Date: Jan 1,2013
Planholder diesdue to Natural Death on Dec 31, 2018.
Mr. Planholder
JanJan
20132013
JanJan
20142014
JanJan
20152015
JanJan
20162016
JanJan
20172017
JanJan
20182018
Memorial Service Benefit
= PhP125,000Term Insurance Benefit= PhP125,000
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* Amount may be increased by increments of PhP1,000.
Minimum Installment Amount
PAYING PERIOD
OPTIONSMINIMUM INSTALLMENT AMOUNT*
ANNUAL MONTHLY
Inclusive of VAT
Inclusive of VAT
1 100000 106600 9300 9913.80
2 50000 53300 4650 4956.90
5 25000 26650 2325 2478.45
Annual, Semi-Annual, Quarterly and Monthly modes of payment available.
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Minimum Initial MemorialService Benefit
The Initial Memorial Service Benefit isEquivalent to the Pre-Need Price
* Amount may be increased by increments of PhP1,000.
5- Pay PhP 125,000 2- Pay PhP 100,000 1- Pay PhP 100,000
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COMMON FEATURESCOMMON FEATURES
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Acceptance Age
With Insurance Benefit
No Insurance Benefit
18 – 55 years old* 18 – 60 years old
In good health
Note: A Planholder with insurance benefits will undergo a 1-Year Contestability.
*age last birthday
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Incontestability
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
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• Equivalent to the Memorial Service Benefit (MSB) with increments.
• It serves as a reward for living well
• 40th Plan Anniversary*Once the Planholder avails the Living Cash Benefit, the Original Plan Contract will be surrendered and PhilPlans shall be discharged from any liability or obligation under this contract.
Optional Living CashBenefit
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• After the 40th Plan Anniversary, the plan will continue to earn interest at a rate to be determined by the Company’s Board of Directors.
• May be withdrawn by the planholder any time upon written request to PhilPlans (in a standard company form)
Unclaimed Endowment
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Designated beneficiary/ies will receive 80% of the Plan Value or 100% of the Plan Termination Value, whichever is higher, and the insurance benefit (if any) reckoned from the date of the Planholder’s demise.
Unrendered Service
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The plan may be assigned to a deceased person other than the Planholder.
* The Memorial Service Benefit shall be computed based on the Plan’s Termination Value.
Assignability
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• Plan must be in force
• Request in writing (Standard Company Form)
• New Application form
A Planholder can transfer all rights and privileges of his plan to another person, subject to the following conditions :
Transferability
• The prospective Planholder will be subject to underwriting requirements and will be treated as a New Planholder
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Grace Period
• Update payments without penalty up to two months (60 days) after last due date
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If the age of the Planholder was misstated in the Application (to meet the acceptance age)…
All insurance coverage will be deemed cancelled effective at the date of purchase.
Misstatement of Age
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Planholder can either:
a.) continue the plan and enjoy the applicable MSB; or
b.) surrender the plan contract and claim for the return of all payments made
Misstatement of Age
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Grace PeriodDELINQUENT
Reinstatement PeriodLAPSED
Last Due Date
60 Days
Quick Paid-Up Status
2 Years
Plan Termination Value
Reinstate to Original Memorial Service Benefit
Reduced Total Memorial Service Benefit
Pure Reinstatement
*Planholder will undergo 1 year contestability after Reinstatement
Reinstatement Overview
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PAY PERIOD
1 25,000 40,000 100,000
2 26,000 40,000 100,000
5 30,000 50,000 125,000
Note: Increments of PhP1,000
Initial Memorial ServiceBenefit
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PRODUCT FEATURES
Pay Period 1, 2 and 5 Years 1, 2 and 5 Years 1, 2 and 5 Years
Memorial Service Benefit
100% of the PNP plus 5% increments 1 plan anniversary after the
paying period
100% of the PNP plus 5% increments 1 plan
anniversary after the paying period
100% of the PNP plus 5% increments 1 plan
anniversary after the paying period
Cash Difference Benefit
Yes Yes Yes
Endowment Period Yes Yes Yes
Optional Living Cash Benefit
Yes Yes Yes
PAMS Yes Yes Yes
Fully Paid New Life Plan
N/A N/A
Equivalent to 100% of the PNP given to the
beneficiary upon death of the Planholder; void
upon Planholder’s attainment of age 65 or the plan reaching its 40th
Plan Anniversary
Summary of Benefit
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PRODUCT FEATURES
Credit Life Yes, during the paying period
Yes, during the paying period
Yes, during the paying period
Disability Benefit Yes, during the paying period
Yes, during the paying period
Yes, during the paying period
Accidental Death And Disability (ADD)
200% of the PNP during the paying period
200% of the PNP during the paying period
200% of the PNP during the paying period
Term Life N/A
Equivalent to 100% of the MSB during the
paying & waiting period; ends at the 40th Plan Anniversary or the
Planholder’s demise
Equivalent to 100% of the MSB during the
paying & waiting period; ends at the 40th Plan Anniversary or the Planholder’s demse
TOTAL BENEFITS:
(With Insurance)
300%of the PNP
during the paying period(Maximum Amount)
400%of the PNP
during the paying period(Maximum Amount)
400%of the PNP
during the paying period(Maximum Amount)
Summary of Benefit
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Modal Factors and VAT
Semi-Annual = 0.525 x Annual Installment
Quarterly = 0.267 x Annual Installment
Monthly = 0.093 x Annual Installment
VAT Rate = 6.60%
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HOW TO SELLHOW TO SELL
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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.
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Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
0
6 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
P106,600P106,600 P106,60
0
P106,600
P106,600
1 2 3 4 5
25k25k
25k25k 25k
YEARLY MSB INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
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106
Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
0
6 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
1 2 3 4 55
25k25k
25k25k 25k
MSB YEARLY INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Term Insurance = 100% of Plan Value
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
P106,600P106,600 P106,60
0
P106,600
P106,600
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107
Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
00
66 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
11 22 33 44 55
25k25k
25k25k 25k
MSB YEARLY INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
P106,600P106,600 P106,60
0
P106,600
P106,600
Term Insurance = 100% of Plan Value
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108
PhilPlansLife Plans
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109
Get a partner.
Practice How To Sell
Scenarios:Party/Get togetherOffice/WorkCommunity
Present yourscenario to thegroup!
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110
Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
0
6 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
P106,600P106,600 P106,60
0
P106,600
P106,600
1 2 3 4 5
25k25k
25k25k 25k
YEARLY MSB INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
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111
Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
0
6 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
1 2 3 4 55
25k25k
25k25k 25k
MSB YEARLY INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Term Insurance = 100% of Plan Value
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
P106,600P106,600 P106,60
0
P106,600
P106,600
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112
Credit Life
8 9 10
7 33
34
35
36
37
38
39
26
27
28
29
30
31
32
19
20
21
22
23
24
25
12
13
14
15
16
17
18
11
00
66 4040
One Plan Anniversary after Paying Periodstart of Yearly Increments Equivalent to 5% of the PNP until 40th Plan Anniversary
Accidental Death and Disability (200% of PNP) =
P1,000,000
Disability Benefit
Paying Period
Planholder to invest P106,600
for 5 years
11 22 33 44 55
25k25k
25k25k 25k
MSB YEARLY INCREMENT Amount (P25,000 x 35 years) = P875,000
TOTAL : P1,375,000P500,000 + P875,000
40th Plan AnniversaryIf Planholder outlives his/her plan,
he/she has the option to choose either Optional Living Cash Benefit or
Unclaimed Endowment
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k
25k25k25k
25k
Yearly Memorial Service Benefit: P25,000Total Yearly Memorial Service Benefit: P875,000Living Cash Benefit: P1,375,000Pre-Need Price: P500,000Paying Period: 5 yearsAnnual Installment: P106,600
LCB: Initial MSB + Yearly MSB Increments
P106,600P106,600 P106,60
0
P106,600
P106,600
Term Insurance = 100% of Plan Value
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113
POTENTIAL INCOMEPOTENTIAL INCOME
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114
For 1-PayBasic Commission
Year 1 5%
Agent’s Bonus
Year 1 5%
Commission Rates
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115
Pamana Life Plan: 1-PayAnnual Installment of PhP1,000,000
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Total 82,500.0017,500.00100,000.00
7,500.00(Tax (15%))
10,000.00(Tax (15%) & CBR (5%))
50,000.00 40,000.00
50,000.00 42,500.00
POTENTIAL NET INCOME = PhP 82,500.00
Sample Computation
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116
Pamana Life Plan: 1-PayAnnual Installment of PhP500,000
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Total 41,250.008,750.0050,000.00
3,750.00(Tax (15%))
5,000.00(Tax (15%) & CBR (5%))
25,000.00 20,000.00
25,000.00 21,250.00
POTENTIAL NET INCOME = PhP 41,250.00
Sample Computation
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117
For 2-PayBasic Commission
Year 1 7.5%
Agent’s Bonus
Year 1 5%
Commission Rates
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118
Pamana Life Plan: 2-PayAnnual Installment of PhP1,000,000
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Total 102,500.00
22,500.00125,000.00
7,500.00(Tax (15%))
15,000.00(Tax (15%) & CBR (5%))
75,000.00 60,000.00
50,000.00 42,500.00
POTENTIAL NET INCOME = PhP 102,500.00
Sample Computation
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119
Pamana Life Plan: 1-PayAnnual Installment of PhP500,000
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Total 51,250.0011,250.0062,500.00
3,750.00(Tax (15%))
7,500.00(Tax (15%) & CBR (5%))
37,500.00 30,000.00
25,000.00 21,250.00
POTENTIAL NET INCOME = PhP 51,250.00
Sample Computation
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120
*For every 4 PC or PhP50,000 FP (cumulative) validated every month
For 5-PayBasic Commission
Year 1 20%
Agent’s Bonus
Year 1 13.5%
Productivity Bonus
Year 1 5%
Commission Rates
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121
Sample Computation
*For every 4 PC or PhP50,000 FP (cumulative) validated every month Note: With the assumption that the Productivity parameter is met
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Productivity Bonus
Total 158,625.00
33,875.00192,500.00
10,125.00(Tax (15%))
20,000.00(Tax (15%) & CBR
(5%))100,000.00 80,000.00
67,500.00 57,375.00
25,000.00 3,750.00(Tax (15%))
21,250.00
POTENTIAL NET INCOME = PhP 158,625.00
Pamana Life Plan: 5-PayAnnual Installment of PhP500,000
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122
*For every 4 PC or PhP50,000 FP (cumulative) validated every month Note: With the assumption that the Productivity parameter is met
1st Year GROSS BASIC COMMISSION LESS 1st Year NET BASIC
COMMISSION
Basic Commission
Agent’s Bonus
Productivity Bonus
Total 79,312.5016,937.5096,250.00
5,062.50(Tax (15%))
10,000.00(Tax (15%) & CBR
(5%))50,000.00 40,000.00
33,750.00 28,687.50
12,500.00 1,875.00(Tax (15%))
10,625.00
POTENTIAL NET INCOME = PhP 79,312.50
Pamana Life Plan: 5-PayAnnual Installment of PhP250,000
Sample Computation
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123
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
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124
HOW TO FILL OUT AN HOW TO FILL OUT AN APPLICATION FORMAPPLICATION FORM
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125
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
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
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126
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
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127
5’ 8” 140 lbs.
APE, 06/01/09, in good health
JASDelaCruzJuan Antonio S. Dela Cruz
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128
1st February 2012 Makati City
JASDelaCruz JASDelaCruz
JASDelaCruzJuan Antonio S. Dela Cruz
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129
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
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130
PhilPlansLife Plans