I DID IT! My Insurance & Investment Policy from Pru Life UK

I did it!

Finally, I received the copy of my insurance & investment policy last night.

I am really glad that I have taken a concrete step towards a more favorable future when I grow old or some consolation to those I will leave behind when I die.

In this world nothing can be said to be certain, except death and taxes.

- Benjamin Franklin

After ample consultations with friends whom I consider good with their finances, I availed of a variable universal life insurance (VUL) plan from Pru Life UK. Basically, it is an insurance plan with investment. In a VUL, your money does not only pay for the insurance premium but also get invested.

I preferred VUL over life insurance because I figured that if I suddenly die, I have no clear beneficiaries since both of my parents already passed away and I have yet to get married.

Good thing for me, a friend is an authorized financial adviser of Pru Life UK. He was able to offer me a VUL policy customized to my financial capability.

For a monthly premium of Php 2, 716.33, payable in 10 years, I have a permanent disability/accidental death coverage of Php 900, 000. The policy also offers Php 1,000 hospital allowance per day.

But what I am really excited about is that the money I pay is invested by Pru Life UK to their equite fund and it can grow up to as much as Php 1.4 Million. Although that is looking much farther down the road, I think that amount is more than enough to take care of a 65 year old me.

I also registered my policy to Pru Life UK's online facility so that I can track it anywhere.

My next step to financial freedom is to get a health insurance.


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