VUL products the hottest in insurance — IC
These insurance cum investment policies are currently the hot item.
Insurance Commissioner Dennis Funa attributed the robust growth in the sector to life insurance, which drove total premiums up by a third to hit P76.6 billion during the first quarter of 2018.
In particular, he pointed out that variable life insurance (VUL) policies are currently the bomb, as it offers both life insurance coverage as well as investments to a policy holder.
“The increase in the premiums collected of the life sector is attributed to the 51.24% growth in the sale of variable life insurance products,” Funa said in a statement.
What a phenomenal growth!