My BPI Philam Life Insurance Premium Complete!

Yes, I finally completed the 8 year premium payment plan of my BPI Philam Life Insurance!

          I received this letter last week and so happy when I read that I have completed already the premium payments required for this insurance. I hurriedly call the BPI hotline to verify including the policy loans that our company applied for and they confirm it. My quarterly premium & policy loan are cleared.

          It was my priority goal last November and I wanted to clear my policy loans & to pay my premium on its due date. It's one of my financial goal this year & I have set my mind that I must clear it by November to prevent from further accumulation of interest. It was a difficult goal but I'm glad I achieved it inspite of the current financial crisis I am experiencing these days. As of this date, my salary is 4 months delayed and counting.

          This BPI Philam life insurance is a basic whole life insurance plan payable for eight years that our company took as part of our incentives. Half of its premium was payed by our company & half  was deducted from our salary but after six year, they gave us the sole responsibility of paying its premium amount. I was hesitant to continue it but after computing & comparing the amount paid and the remaining amount to be settled I decided to continue it.

         And now that I have completed its paying requirements I am now insured for 200,000 covered until February 2075.

          Aside from the life insurance coverage, what amazes me with my BPI Philam life insurance is - it has a cash value that accumulates 4% per annum. Should I plan to terminate this plan before I reach the age of 100 I can still get its cash value. This month, I already have P 33,000 +++ cash value equivalent on this plan, panalo pa rin di ba?

          And because I am now insured, I also feel like I'm 200,000 richer, hahah. I'll be adding this to my portfolio, excited na akong mag-compute ng net worth ko.

Just sharing my experiences again!

Have a great weekend guys.

God Bless.