Set for Tomorrow
Training Deck
Set for Tomorrow
What comes to your
mind when we speak of
Financial Planning?
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Set for Tomorrow
Financial Planning
Sickness
Disability
Death
Investment
Regular Expense Savings
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Set for Tomorrow
Financial Planning
Life Insurance protects
our financial resources
from being depleted as
caused by unforeseen
risks.
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Set for Tomorrow
Current Solution
Individual portfolio
Protection Investment
Life Health
• Set for Life
• All Set
• All Set Higher
• US Dollar All Set Higher
• Peace Plan • Set for Health
• Fight Plan
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Current Solution
Set for Tomorrow
Life insurance that’s with you in every
step of your financial journey.
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Set for Tomorrow
Current Solution
Individual portfolio
Protection Investment
Life Health
• Set for Life
• All Set
• All Set Higher
• US Dollar All Set Higher
• Peace Plan • Set for Health
• Set for Tomorrow • Fight Plan
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Set for Tomorrow
Benefits at a glance
Life Insurance Coverage and Terminal Illness Benefit
• 100% of the Life Insurance Coverage will be given upon the insured’s death while it will be advanced if the insured was
diagnosed with a Terminal Illness.
• An additional 20% up to a maximum of P500,000 will be given if the insured’s death happened outside of the country.
Guaranteed Protection
• Life Insurance Coverage will be provided regardless of market conditions as long as the policy is in force.
• Furthermore, the company will be shouldering the payment of premiums if the insured becomes totally and permanently
disabled due to an accident or when he is diagnosed of any of the 38 covered critical illnesses during the payment
period. (For some variants of Income Protector and Estate Protector)
Funeral Benefit
• 10% of the Life Insurance Coverage up to P100,000 will be advanced within the next 48 hours to be used in funeral
expenses.
Other Benefit
• Get an additional 100% benefit if the spouse of the insured died in the same accident and at least one child below 18 years
old is living.
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Set for Tomorrow
From loan protection, to peace of mind during your prime
working years, to smoother wealth transition, Set for
Tomorrow provides you a solution that is suitable for your
needs against unforeseen life risks.
Short Term Cover (5- & 10- Year Renewable and
Convertible Plan)
• Takes care of your outstanding loans and obligations if you
become incapable of paying for it due to your untimely demise.
Income Protector (Term-to-age 55, 60, 65)
• Covers you during your prime working years which allows you
to fulfil your promise of providing for your family even when
Estate Protector (Whole Life)
• Allows for a smooth transition of your wealth at later years.
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Set for Tomorrow
Set for Tomorrow – Short Term Cover
Designed for:
• Individuals who are applying for a mortgage or a short-
term loan
• Entities with members falling under the above and aims
to cover for the loan protection of these members
Key Features:
• Coverage for 5 and 10 years
• Can be renewed after 5 and 10 years without
underwriting and can change the coverage after
renewal subject to terms and conditions.
• Can be converted to a variable life plan after 5 and 10
years without underwriting, provided the coverage
remains the same.
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Set for Tomorrow – Short Term Cover
Meet Fred
• Fred, age 30, dreams to purchase a house for his very young family. He has
decided to loan P7,113,600 from a bank for ten years.
• After six years, Fred met an accident which caused his untimely demise.
• What do you think would happen to his family?
Scenario A: Scenario B:
Suppose Fred did not have an insurance Suppose Fred purchased a 10-year, Set for
plan to protect his loan then his wife will be Tomorrow Short-Term Cover plan to
obliged to pay for the remaining loan cover his loan which costs him only
amount by herself risking the depletion of P64/day*. Upon his demise FWD will be
their resources or foregoing the property. providing his wife the insurance benefit
which can be used to pay for the remaining
loan and for any cost related to his death.
*P23,474.88 per year for 10 years, standard rating.
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Set for Tomorrow
Set for Tomorrow – Income Protector
Designed for:
• Breadwinners and individuals who are working on their prime
years and whose families or beneficiaries are highly dependent
on their incomes
• Overseas Filipino Workers
• Clients who do not have any previous exposure to insurance
and who want to avail one at minimum risk and cost
Key Features:
• Provides a guaranteed Life Insurance Coverage until age 55, 60,
or 65
• Premiums will be waived in case of total and permanent
• disability due to accident or diagnosis of Critical Illness
• Has a Cash Value which can be loaned for emergency purposes
• Can be converted to a permanent plan.
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Set for Tomorrow – Income Protector
Meet Waldo
• Waldo, age 40, is an OFW and a breadwinner of his family. He has a wife
and two children ages 7, 9 and 13.
• On the eighth year while on duty in Australia, Waldo
• experienced a heart attack and caused his untimely death.
• What do you think would happen to his family?
Scenario A: Scenario B:
Suppose Waldo did not have an insurance Suppose Waldo purchased a Set for
plan to protect his loan then his wife will be Tomorrow Income Protector 55 plan with
obliged to support their family by herself coverage amounting to P3.5M which cost
regular expenses, education etc. him P65/day.* FWD will be paying his wife
P4.2M (120% of P3.5M) which she can use
for monthly expenses.
*P23,671 per year, Regular-pay, Standard rating.
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Set for Tomorrow – Income Protector
Meet Karen
• Karen, age 40, is a single mother of a 10-year old kid. She is also a full-time employee
in an accounting firm.
• She understands that her child is fully dependent on her hence, she has decided to
purchase a 10-pay, Set for Tomorrow Income Protector 65 plan with P2.3M coverage
which would cover her during her prime working years.
• Karen was diagnosed with an end stage cancer at age 45 hence, she will not be
• able to continue working and paying for her policy*.
• Q: What benefit would kick in this scenario?
• A: Assuming all conditions of the covered critical illness were met, the Waiver of
Premium benefit would kick in. This means that FWD would be shouldering her
outstanding premium amounting to Php 32,232 per year in the remaining five years
which keeps her policy alive.
*Karen’s done paying her premium on the 5th year.
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Set for Tomorrow
Set for Tomorrow – Estate Protector
Designed for:
• Individuals who are focused on the need to preserve
their wealth such as retirees and empty nesters
Key Features:
• Provides a guaranteed Life Insurance Coverage until
age 120. Benefit is also paid out if the client is alive by
age 120.
• Premiums will be waived in case of total and permanent
disability due to accident or diagnosis of Critical Illness
• Can be converted to a Variable Life plan but client
should understand the risks. (ex. Guaranteed to not
guaranteed, coverage from 120 to 100.)
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Set for Tomorrow – Estate Protector
Meet Diana
• Diana, age 55 recently retired from her work. Her children already have their own
family and her main focus now is how to transfer her wealth amounting to Php 40M to
them when the time for her to leave comes.
• She died of old age at age 75.
• What do you think would happen to her wealth?
Scenario A: Scenario B:
Suppose Diana did not have an insurance Suppose Diana purchased a Set for
plan to protect her wealth against estate Tomorrow Estate Protector plan with
taxes and settlement costs, then her family coverage of 2.4M* which cost her
will have an additional burden to pay for 227/day**, upon her demise FWD will be
taxes and her wealth may be reduced to providing the benefit which can be used by
P37.6M her children to pay for estate taxes. Her
wealth will remain at P40M.
*6% or P40M without exclusions
**82,800 per year, Regular-pay, Standard
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Set for Tomorrow
Young Professionals New Nesters Full Nesters Empty Nesters
(18-28) (29-35) (35-51) (52-70)
Short Term Cover
Income Protector
Estate Protector
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Product Features
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Set for Tomorrow
How it works
Minimum annual premium of 100% of Sum Assured will be
P21,000. advanced upon diagnosis of
Terminal Illness or Death.
Choose to pay for Single pay, 5 Pay, Additional 100% of the sum assured
10 Pay or Regular Pay. will be given if both the insured and
the spouse died in the same accident
provided at least one minor child
survived.
Funeral Benefit
10% of the Sum Assured up to Additional 20% of the sum assured will
P100,000 will be advanced within 48 be given if the insured dies overseas.
hours to pay the cost of funeral
services.*
*to be deducted from the Life Insurance Coverage
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Set for Tomorrow
Basic features and benefits
Minimum Annual Premium Minimum Sum Assured
PHP 21,000 PHP 1,000,000
Plan Type Variant Minimum and Maximum Age
Short Term Cover 5 and 10 years Age 18 - 70
Income Protector To age 55 SP, 5P and RP: Age 18 – 50
10 Pay: Age 18 – 45
To age 60 SP, 5P and RP: Age 18 – 55
10 Pay: Age 18 – 50
To age 65 SP, 5P and RP: Age 18 – 60
10 Pay: Age 18 – 55
Estate Protector 5P and 10P: Age 18 – 60
SP and RP: Age 18 – 70
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Set for Tomorrow
Basic features and benefits
Plan Type Variant Pay Period Bundled Waiver of Maximum policy duration
Premium
Short Term Cover 5-Year SP None 5 years, renewable up to the
maximum renewal age
5P None
10-Year SP None 10 years, renewable up to the
maximum renewal age
10P None
For Short Term Cover, maximum coverage age for renewal is 80 while maximum age for conversion is 70.
For Income Protector, the maximum age for conversion is the age at the end of the coverage period (55, 60, or 65).
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Set for Tomorrow
Basic features and benefits
Plan Type Variant Pay Period Bundled Waiver of Expiry Age
Premium
Income Protector To age 55 SP None Up to age 55
5P 5P
10P 10P
RP PTA55
To age 60 SP None Up to age 60
5P 5P
10P 10P
RP PTA60
To age 65 SP None Up to age 120
5P 5P
10P 10P
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Set for Tomorrow
Basic features and benefits
Plan Type Variant Pay Period Bundled Waiver of Expiry Age
Premium
Estate Protector RP PTA65 Up to age 120
SP None
5P 5P
10P 10P
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Set for Tomorrow
Modal Loadings
Modal premium Modal Loading Modal premium Modal Loading
frequency (Short Term frequency (Income
Cover) Protector and Estate
Protector)
Annual 1.000 Annual 1.000
Semi-Annual N/A Semi-Annual 0.530
Quarterly 0.280 Quarterly 0.280
Monthly 0.095 Monthly 0.095
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Underwriting
Guidelines
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Set for Tomorrow
Underwriting Guidelines
1. Proposed Insured and Proposed Owner must be the same person. (For Income
Protector and Estate Protector with bundled WOPI)
2. Acceptable Payment mode shall be :
Set for Tomorrow Set for Tomorrow
Short Term Cover Income Protector and Estate Protector
Monthly and Quarterly (ADA / ACA Only) Monthly (ADA / ACA Only)
Annual Semi-monthly, Quarterly, Annual
3. Term with bundled WOPI will :
a. not be available to the non-working or non income earning group.
b. follow current/existing occupation guidelines on WOPI.
c. follow current/existing territory guidelines for WOPI.
4. Term without WOPI will follow current/existing occupation and territory guidelines for
life risk.
5. Maximum acceptable substandard rating shall be as follows:
• Term with WOPI * : +100 Extra Mortality (EM) or 200% Total Mortality (TM)
• Term without WOPI : +200 EM or 300%TM
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Set for Tomorrow
Underwriting Guidelines
Underwriter may unbundle the WOPI if risk assessment leads to a decision where WOPI
cannot be granted. This process will only be available during underwriting decision step
in the system.
6. Type of underwriting : Full Underwriting
7. Full or 100% of sum assured amount shall be used for computation of the Medical or
Financial Total Sum At Risk (TSAR) for the determination of underwriting
requirements.
8. Aggregation rules and current/existing reinsurance limits and guidelines for automatic
and facultative placement shall apply.
9. This product cannot be offered for employer-employee or fringe benefit or keyman
insurance (For Income Protector and Estate Protector with bundled WOPI).
10. Backdating of effective may be allowed purely to save on age and not for eligibility
purposes. This is not a mandatory process but will be on a case-to-case handling.
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Set for Tomorrow
Policy Transactions
Variants Type
Increase in sum assured at renewal (subject to Underwriting) Allowed
Decrease in sum assured at renewal (subject to minimum Sum Assured) Allowed
Reinstatement Allowed
Adjustment due to misstatement of age, gender or occupation Allowed
Change in premium payment period (PPP) Allowed
Change in modal premium frequency Allowed
Change in variant Not Allowed
Change in contact details Allowed
Change of policy owner Allowed
Change of beneficiary Allowed
Assignment of the policy Allowed
Reconsideration of risk classification Allowed
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Set for Tomorrow
Exclusions (Death Benefit, Funeral Benefit, Terminal Illness)
Cause Description
Suicide or self-inflicted act • We will not pay any death benefit, funeral benefit, or terminal
illness benefit if the claim arises from suicide or a deliberate self-
inflicted act by the insured person within two years after cover
starts, is reinstated, or is increased (for the increased amount).
• No exclusion for suicide while insane
• We will pay the benefit if the insured person committed suicide
while insane.
Unlawful acts • We will not pay any death benefit, funeral benefit, or terminal
illness benefit if the claim is directly caused by insured person’s
participation in any illegal or unlawful act or failure to act
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Set for Tomorrow
Exclusions (Waiver of Premium)
Cause Description
Drugs or alcohol We will not pay any waiver of premium on insured benefit for Alzheimer’s disease, late
stage cancer, chronic liver disease, chronic recurrent pancreatitis, coma or Parkinson’s
disease that arises from habitual alcohol consumption, or alcohol or drug abuse:
• if the condition was diagnosed; or
• if the signs or symptoms leading to diagnosis became apparent to the insured person;
before or within two years after cover starts, is reinstated, or is increased (for the
increased amount).
Late stage cancer with HIV We will not pay any waiver of premium on insured benefit if the claim arises from late
stage cancer if the insured person has a human immunodeficiency virus infection (HIV)
when the late stage cancer is diagnosed.
Suicide or self-inflicted act We will not pay any waiver of premium on insured benefit if the claim arises from
attempted suicide or a deliberate self-inflicted act by the insured person within two years
after cover starts, is reinstated, or is increased (for the increased amount).
Unlawful acts We will not pay the waiver of premium on insured benefit if the claim arises from you, or
the insured person committing any illegal or unlawful act or failure to act.
War We will not pay the waiver of premium on insured benefit if the claim arises from war or
any act of war (whether declared or not), or any civil or military uprising.
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Commission Rates
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Set for Tomorrow
Set for Tomorrow Commission
Set for Tomorrow Short-Term Cover 5 YT Set for Tomorrow Short-Term Cover 10 YT • For Renewable Term Plans
Policy SP 5P Policy SP 10P
(5YT and 10YT), commission
Year Year rates for Year 12 onwards are
the same as the commission
1 10% 30% 1 10% 35% rates for Year 2 onwards.
• Commission rates shall apply
2 0% 10% 2 0% 10%
to Agency and
3 0% 10% 3 0% 10% Bancassurance* channels.
4 0% 10% 4 0% 10%
5 0% 10% 5 0% 10%
6 10% 30% 6 0% 10%
7 0% 10% 7 0% 10%
8 0% 10% 8 0% 10%
9 0% 10% 9 0% 10%
10 0% 10% 10 0% 10% *For bancassurance, commission
rates are divided between bank
11 10% 30% 11 10% 35% fee and variable pay.
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Set for Tomorrow
Set for Tomorrow Commission
Set for Tomorrow Income Protector
Policy Year SP 5P 10P RP
1 10% 35% 45% 45%
2 0% 10% 10% 10%
3 0% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11 0% 0% 0% 0%
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Set for Tomorrow
Set for Tomorrow Commission
Set for Tomorrow Estate Protector
Policy Year SP 5P 10P RP
1 5% 25% 35% 35%
2 0% 10% 10% 10%
3 0% 0% 0% 0%
4 0% 0% 0% 0%
5 0% 0% 0% 0%
6 0% 0% 0% 0%
7 0% 0% 0% 0%
8 0% 0% 0% 0%
9 0% 0% 0% 0%
10 0% 0% 0% 0%
11 0% 0% 0% 0%
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Thank you.
