Rizal Philippines
July 19, 2017
Level UPP your experience of a life plan with Uni Plus Plan your new LIFE PLAN
This will be a new plan that we are seeking approval from IC; it is currently undergoing actuarial evaluation and analysis.
It is a non traditional life plan. A traditional life plan, while dubbed as inflation protection is old and archaic is inconvenient and poses a great challenge both to the plan holder and the company offering the service;
1. The seller and the plan holder are tied to a particular package. While the fashion even for memorial services is changing, both parties are tied down to a contract and neither can escape or leave. The seller may be experiencing difficulty with a higher cost; the buyer/user of the plan may find the product at the the time he uses it to be old ugly and out moded. The plan holder, and in most cases end up upgrading (paying more for the at need services, which could be over priced sometimes. So much for guaranteed memorial benefit
2. The buyer has no chance to liquidate his investment. He can not encash it. The only way he make the product functional at full price is to use it for a memorial service. Should he sell to third party it will surely be for a discount;
3. Thus being inflexible, he can not have any further use or functionality for the product;
4. His only benefit, as claimed is that it is an inflation protector, ie that the plan holder will not pay more, should there be a price increase. That is good for educ plan (which caused the down fall and collapse of many educ pre need companies) but which does not happen much for life plans, the prices of casket being steady due to the large number of casket makers in Sto Tomas Pampanga.
Enter Unit Plus Plans a NON TRADITIONAL LIFE PLAN
Its main features and benefits/advantages:
1. It is sold in units of P10,000 each and thus can be configured to match the prices of services now available in the memorial chapels: 3 units for P30,000, 4 units for P40,000, 5 units for P50,000, 10 units for 100,000 and so on.
2. The buyer/plan holder can have the freedom to choose his memorial package for his loved ones once he goes to the mortuary. This unit plans serve as his currency. Since there are increments, the currency increases in value and thus is also anti inflationary.
3. The plan holder further more has the flexibility to:
1. To buy more units as his income improves; this is not possible with the traditional plan
2. To cash out, when the need arises and cash out his plan; this is not possible with the traditional plan which is more often locked in with the plan;
4. Like any financial instrument or investment, he has the opportunity to have increments in value annually if the trust fund earnings can provide (with proper investment plan and strategy)
5. For our servicing mortuary; the plan holder gets preferred customer service and guaranteed memorial service because of its long and dedicated customer service in the memorialization business, UPP
