Philam Aspire Plan
Last week I had a call from Philam Plans that I was referred by one of their plan holders for a free accident insurance worth 25K pesos. I said to myself, what? Might be another scam, but this is Philam Plans a big preneed company. Well it turns out to be legit offer and at the same time a marketing strategy that is why they ask if you have some government issued ids for identification or credit cards, you will be introduced to one of their new plans called Aspire Plan which is a savings/preneed plan rolled into one, be it for education, pension or life. You can earn 7% annually for interest or wait for it to mature.
With my eldest daughter I purchased an education plan for her when she was was less than 1 year old about 9 years ago. With my second daughter who is now 2 years old though we were reluctant to get here any educational plans as the preneed industry took a hit this past few years and big companies like CAP and Prudential offering education plans has seized operation. But since I haven’t made any investments for her future I took the plan they offered and paid 20K upfront for one year. It’s a risk but we can’t really tell when this economic crisis will end, maybe after 2-3 years it will start to pick up and then I can say I made a good investment.
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