Philam Life President and CEO Rex Mendoza shared in the Philam Life Family Talk and Financial Literacy Forum that to have a prosperous country, we need to have prosperous individuals.
We need to be educated on effective financial management and learn to save, invest, diversify and plan for the future. This, as presented in the forum, is part of the ABCs of parenting.
Ms. Maribel Sison Dionisio, Founder of the Love Institute and co-author of the book Helping Our Children Do Well in School, which received the National Book Award for Education in 2004, shared useful parenting tips in Family Talk: ABCs of Parenting.
She gave the following important points:
A – attention giving. Parents should have weekly dates with each child, and the dates don’t need to be extravagant.
B – builds self-worth. Proper encouragement must be given to children for their efforts and improvement, not only for achievements.
C – communicates regularly. Parents should listen well to their children and speak in a friendly, non-interrogative tone.
D – disciplines with love. Discipline must be used to teach, not to punish. Children must understand the concept of consequences.
E – enhances couple or individual relationship. Enough time and attention must also be given to spouse and self. Weekly dates, thoughtful acts and regular words of affirmation are important.
F – financially responsible. Adopt the mindset Income – Savings = Expenses, which means save first before spending, and NOT Income – Expenses = Savings.
Being financially responsible for our families does not end in providing for their needs today. It also includes ensuring that we can provide for them in the future should unfortunate things happen. This is where life insurance companies, such as Philam Life, comes into the picture.
The Philam Group aims to educate Filipinos to save (remember: Income – Savings = Expenses), invest (make your money work for you, and not let it sleep at low interest rates in savings accounts) and prepare for the future through different life insurance plans.
Philam Life offers unit-linked products to meet unique insurance and investment needs of Filipinos. The premiums for these products are invested in funds managed by Philam Asset Management Inc. (PAMI)
- MoneyWorks is a savings product with life insurance coverage, with a pay period of 5, 7 or 10 years. This is best for young individuals who want to start saving but do not have the capital for long-term investments.
- MoneyTree is a one-pay investment and life insurance plan. Single premium minimum price is P125,000. It has a guaranteed life insurance coverage of 125% of initial payment.
- Family Provider is a unit-linked protection plan, with a pay period of 3, 5, 7 or 10 years. This plan offers beneficiaries the higher of the plan’s account value or the life insurance coverage equal to 25 times the yearly payments.
- Family Secure is a high-value life insurance plan that offers protection during one’s working years and may later be converted to a retirement fund.
You may ask Philam Life financial planners for details about these products.
Philam Life will also be holding a Family Talk school tour in Davao. Schedule is as follows:
September 14 | 8:30 AM to 11:00 AM – Stella Maris Davao
September 14 | 2:30 PM to 5:00 PM – Davao Christian School
October 12 | 11:00 AM – Ateneo de Davao
