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  1. #11

    nice. but 25k maintaining balance to keep the insurance? looking at it its not really FREE as in naked FREE-FOR-ALL as advertised. another marketing ploy. people do a lot of these kinds of things nowadays just to get you to buy their product.

    if you look at it, if you place 25k into the bank, they use it, invest it, loan it, get interest from it, earn from it, make profit from it and then they get more than enough money to pay your insurance in case you "die". it doesnt really matter if its 5x. thats just the way how banks work. so its not really FREE.

    but again, its a very good deal if you are already stable and able to maintain you balance.
    Last edited by korg17; 09-03-2010 at 12:17 AM.

  2. #12
    How much ADB are you going to tie up in order to get this free service? If I am not mistaken the business plan for these type of services is that the ADB's interest should be able to pay the premium of the term insurance, so the bigger is your ADB the bigger is your insured amount. But the catch is, bank interest is too low compared to mutual funds which already have a tie up insurance premium.

    Quote Originally Posted by rhon_sed View Post


    CALL NOW!!! 2340020; 3182502; 09175545921; 09239376274 OR
    "LET'S MAKE IT EASY"
    leave your contact number and we'll call you!

    Get Started Savings Account with Life Insurance is designed to help you start protecting your family's future. It gives you more benefits than just banking convenience:

    FREE Life Insurance. Your insurance coverage shall be equal to 5x your savings account's balance, up to a maximum of P2 million and US$ 40,000, absolutely no premium payments required.
    • No Medical Check-Ups. With Get Started Savings, you can now have a life insurance without a medical exam.
    Same-Day Coverage. Once you open a Get Started Savings Account and you are accepted for coverage, your life insurance becomes effective on that same day.
    Get Started Savings Account is available in Pesos and Dollars.

    Product Essentials

    Get Started Savings Account is an interest-earning savings account that comes with FREE BPI-Philam Life Insurance equivalent to 5x your account's balance, up to P2 million and $40,000. No premium payments required. No medical check-ups needed. With Get Started Savings Account, protecting your family's future has become so much easier!

    Insurance Features

    FREE Life Insurance
    In partnership with BPI-Philam Life Assurance Corp., one of the country's industry leaders, Get Started Savings Account provides FREE life insurance benefits. Absolutely no premium payments required.

    Insurance Coverage
    The amount of your insurance shall be equal to five times (5x) your account's balance*, up to a maximum of P2 million and $40,000. So while you build up your deposit funds for a better financial future, you also increase your insurance coverage.

    The coverage you get from the Peso variant is on top of dollar insurance coverage you can get from the dollar variant.

    * Average Month-to-Date Average Daily Balance (MTD-ADB) of the past three calendar months prior to the Insured's demise, regardless of the number of accounts opened by the insured.

    **For the US Dollar variant in BPI Family Savings Bank, maximum insurance coverage is up to $40,000. The coverage you get from the Peso variant is on top of the dollar insurance coverage you can get from the Dollar variant.

    No Medical Check-Ups Needed
    Some individuals postpone buying a life insurance, not because they are not in good health, but because they are uncomfortable with the required medical exam. With Get Started Savings Account, it's now possible to have a life insurance without a medical exam.

    Same-Day Coverage
    Once you open a Get Started Savings Account and you are accepted for coverage, your life insurance becomes effective on that same day. This unique feature does not only leave you with immediate satisfaction but also immediate protection for your family

  3. #13
    Quote Originally Posted by lorenzoleo View Post
    In the law of insurance, there is no such thing as free insurance. Gi bayran gihapon ng premium.
    It's not actually gibayran. It's part of the package that you opened the Savings Account. You don't know how bancassurance works because IMG differes a lot from banking investments. It has no definite amount to be claimed because it all depends on the amount you deposited. It's a savings plus insurance - partly incentive na lang na sya. And, don't compare BPI with the likes of IMG, etc., because they are not of the same level.

  4. #14
    Quote Originally Posted by korg17 View Post
    nice. but 25k maintaining balance to keep the insurance? looking at it its not really FREE as in naked FREE-FOR-ALL as advertised. another marketing ploy. people do a lot of these kinds of things nowadays just to get you to buy their product.

    if you look at it, if you place 25k into the bank, they use it, invest it, loan it, get interest from it, earn from it, make profit from it and then they get more than enough money to pay your insurance in case you "die". it doesnt really matter if its 5x. thats just the way how banks work. so its not really FREE.

    but again, its a very good deal if you are already stable and able to maintain you balance.
    Why, do ALL banks offer a free insurance together with the deposit account you are opening? Or do you even have a savings account in a bank? Of course, what's the purpose of putting in money in the bank if it's not profitable to the bank? BPI wouldn't offer their service to you for FREE, they use that cash to roll. Not all banks offer savings+insurance type of accounts. Like competitor banks, it's only plain savings.

    I hope everyone here will be properly educated about banking and insurance because it's way too different from those cheap insurance companies that only hire agents who haven't even graduated college.

  5. #15
    Quote Originally Posted by Naughty Picks View Post
    It's not actually gibayran. It's part of the package that you opened the Savings Account. You don't know how bancassurance works because IMG differes a lot from banking investments. It has no definite amount to be claimed because it all depends on the amount you deposited. It's a savings plus insurance - partly incentive na lang na sya. And, don't compare BPI with the likes of IMG, etc., because they are not of the same level.

    If you talk about "Life Insurance", there is not such thing as free Insurance. Naa gihapon nay gi pay gamay.
    Tie up gihapon nag Life Insurance company. If you take any Life Insurance exam, In the law of insurance there is no such thing as free insurance.

    If you want pure insurance, buy Term Insurance and invest the difference directly to where the Bank grows it's money.
    Bank is good for business or temporary placement of fund or for emergency funds, but growing Money, invest it directly where the bank invests.
    Last edited by lorenzoleo; 09-05-2010 at 01:32 PM.

  6. #16
    Quote Originally Posted by Naughty Picks View Post
    It's not actually gibayran. It's part of the package that you opened the Savings Account. You don't know how bancassurance works because IMG differes a lot from banking investments. It has no definite amount to be claimed because it all depends on the amount you deposited. It's a savings plus insurance - partly incentive na lang na sya.
    Bancassurance that's it
    It's a nice feature actually of a savings account.
    Besides, if you are financially literate, you wouldn't put all your money into investment with risk factor...you need to diversify + you need emergency fund on those rainy season thing (at least 6months of income?) - that's where the savings account in the bank comes in.
    Having an insurance feature is just a bonus but nevertheless awesome feature

  7. #17
    What ever happened to PDIC? why would they offer such thing as free?!?!? Learn as much as you can dont be Financially Stupid....People of the Philippines

  8. #18
    Quote Originally Posted by rhon_sed View Post


    CALL NOW!!! 2340020; 3182502; 09175545921; 09239376274 OR
    "LET'S MAKE IT EASY"
    leave your contact number and we'll call you!


    Get Started Savings Account with Life Insurance is designed to help you start protecting your family's future. It gives you more benefits than just banking convenience:

    FREE Life Insurance. Your insurance coverage shall be equal to 5x your savings account's balance, up to a maximum of P2 million and US$ 40,000, absolutely no premium payments required.
    • No Medical Check-Ups. With Get Started Savings, you can now have a life insurance without a medical exam.
    Same-Day Coverage. Once you open a Get Started Savings Account and you are accepted for coverage, your life insurance becomes effective on that same day.
    Get Started Savings Account is available in Pesos and Dollars.

    Product Essentials

    Get Started Savings Account is an interest-earning savings account that comes with FREE BPI-Philam Life Insurance equivalent to 5x your account's balance, up to P2 million and $40,000. No premium payments required. No medical check-ups needed. With Get Started Savings Account, protecting your family's future has become so much easier!

    Insurance Features

    FREE Life Insurance
    In partnership with BPI-Philam Life Assurance Corp., one of the country's industry leaders, Get Started Savings Account provides FREE life insurance benefits. Absolutely no premium payments required.

    Insurance Coverage
    The amount of your insurance shall be equal to five times (5x) your account's balance*, up to a maximum of P2 million and $40,000. So while you build up your deposit funds for a better financial future, you also increase your insurance coverage.

    The coverage you get from the Peso variant is on top of dollar insurance coverage you can get from the dollar variant.

    * Average Month-to-Date Average Daily Balance (MTD-ADB) of the past three calendar months prior to the Insured's demise, regardless of the number of accounts opened by the insured.

    **For the US Dollar variant in BPI Family Savings Bank, maximum insurance coverage is up to $40,000. The coverage you get from the Peso variant is on top of the dollar insurance coverage you can get from the Dollar variant.

    No Medical Check-Ups Needed
    Some individuals postpone buying a life insurance, not because they are not in good health, but because they are uncomfortable with the required medical exam. With Get Started Savings Account, it's now possible to have a life insurance without a medical exam.

    Same-Day Coverage
    Once you open a Get Started Savings Account and you are accepted for coverage, your life insurance becomes effective on that same day. This unique feature does not only leave you with immediate satisfaction but also immediate protection for your family
    For those with existing BPI accounts, what do we need to do to avail of this ? Thanks

  9. #19
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