Visiting insurance company executives yesterday said Filipinos should go for long-term investments to get more from their hard-earned money.

Melvin Esteban, PhilamLife vice president for segments marketing division, said that since most Filipinos prefer to invest on a short-term basis like time deposits for merely a month, they are advocating for investments on a long-term that would provide their clients more investment options and competitive rates of return. At a press conference at the Business Inn yesterday, Philam Life officials, led by their president and chief executive officer, Jose Cuisia Jr., introduced the AIG Money Tree and Milestones, two new long-term investment and savings products positioned to answer the changing insurance needs of their market.

AIG Money Tree, a single pay US dollar-denominated variable life insurance product that combines high potential returns with guaranteed lifetime insurance coverage, aims to increase a client's earning potential by investing in a wide range of US dollar-denominated local and global funds at a minimum of $2,000. Milestones, meanwhile, offers a whole-life insurance coverage and acts as a savings plan and its five-pay plan provides increasing life insurance coverage.

Cuisia said that they are reaching out to various segments such as overseas Filipino workers, Filipino-Chinese businessmen and entrepreneurs that would be attracted to Milestones' flexibility and multiple benefits.

He added an important feature of the two products is that these are hedges against inflation and depreciation and are tax-free investments.*NLG

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