FWD Life Insurance Corp. (FWD Philippines) has launched a single-pay investment-linked life insurance plan targeted towards the affluent segment.

FWD Wealth+ is a one-time pay plan that provides life protection while enabling high-net-worth clients grow, preserve and protect their wealth, the insurer said in a statement, adding that it caters to the sector’s “long-term and sustainable aspirations.”

“As the insurer of the next generation, we believe in empowering our customers to manage their wealth their way — be it for building wealth or safeguarding their legacy,” FWD Philippines President and CEO Soon Liang Lau said.

“With FWD Wealth+, we address the affluent segment’s unique financial goals as we offer a flexible, long-term protection plan that enables them to celebrate living, in line with our commitment to nation-building by protecting more Filipino lives.”

The product includes guaranteed life coverage up to age 100, with the minimum single premium starting at P1 million or $20,000.

“Coverage priority is customizable — whether it’s more life protection, more investment, or equal parts for both. Investments can be in either Philippine peso or US dollar, and depending on their risk appetite, policyholders can invest in local or global funds, including the FWD Nitro or FWD Velocity Payout funds, which aims to provide quarterly payouts that generate income for future investments or passive retirement income,” FWD Philippines added.

The product has three policy options, namely, FWD Wealth+ Creator for individuals aiming to grow their capital; FWD Wealth+ Harmonizer for those who want to balance wealth growth with asset protection; and FWD Wealth+ Legacy Builder for those seeking to protect their legacy for their future generations.

It also offers a Booster Bonus of up to 2.5% of the premium spread over the first five years, adding extra fund units for investment growth, a 2% Loyalty Bonus for keeping the policy active, and an Investment Protector Bonus that doubles the Loyalty Bonus if the Philippine Stock Exchange index drops lower than its value five years ago. — Katherine K. Chan

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