InLife unveils two-pay variant of retirement product

INSULAR Life Assurance Co., Ltd. (InLife) has launched a two-pay variant of its retirement product.

Retire Assure 2 is payable in two installments and is a variant of InLife’s Retire Assure, a life protection plan that also provides a guaranteed monthly income until age 100 and offers cash dividends.

“Our goal with Retire Assure 2 is to help Filipinos make the most of their career milestones by offering a stable, guaranteed path toward their future. So, whether you’re moving into a bigger role or simply rethinking your retirement planning, Retire Assure 2 can provide you with lasting security so you can enjoy the rest of your life after working so hard,” InLife Chief Marketing Officer and Bancassurance Head Gae L. Martinez said in a statement.

The new plan is available to individuals aged 48 to 73 years old, with planholders eligible to receive their monthly payouts after the second premium is paid.

“Upon death, the insured’s beneficiaries receive the higher of either 110% of premiums paid (less payouts already received) or the guaranteed cash value, whichever is greater.”

Retire Assure 2 also offers guaranteed issuance as the application process does not have medical requirements.

InLife’s premium income stood at P18.46 billion last year, while its net profit was at P2.66 billion. — A.M.C. Sy