4 Tips In Creating A Financial Legacy That Lasts

Whether we like it or not, at some point in our lives, we will be leaving some kind of legacy once we depart from this world. While it’s nice to be remembered on the kind of person you were and how you treated others, it is also important to be recalled by what we leave behind.

If you want to leave an impactful and meaningful legacy for your loved ones, a little planning goes a long way. This is where legacy planning comes in. By planning properly, you are able to prepare for the future for your family and protect them financially. However, doing this can become a tedious and stressful process. In fact, most adults put this off as it can be challenging to divide their wealth and to create a legacy plan.

To help you prepare in securing your family’s future, we’ve listed down an easy-to-do action plan to help you take control of your financial legacy today.

1. Document your assets
   Get organized and start making an inventory of everything you have, including liabilities. Make a full list of your assets such as cars, properties, up-to-date life insurance and annuity policies, investment portfolio, valuable jewelry and antiques, etc. Indicate the importance of each asset and what should be done with it.
   
   
2. Determine your beneficiaries
   Beneficiary designations are an important way to distribute your valued assets efficiently. These may be your immediate family, relatives, friends, loyal employees, or bequeath it to a charitable foundation.
   
   
3. Identify your objectives
   Where do you envision your family’s wealth heading? How can you best attend to your family’s needs? Outlining your personal objectives will help you plan your financial legacy. Align your goals and values with your wealth plan and investment strategy. Indicate where certain assets should go and how your financial legacy plan can help your family in the future.
   
   
4. Consult with a trusted financial partner
   To help you create a lasting legacy for your family, AIA Philam Life offers AIA All-In-One, a lifetime protection plan that will not only help you build a secure financial legacy, it will also serve as your family’s safety net from major risks in life.
   
   It comes with a life insurance benefit which makes your legacy immediately accessible to your loved ones at the time of your death.
   
   You can pay for your plan for as short as five to ten years, and unlike any other assets that need to be fully paid, your loved ones will have a claim to the life insurance benefit in full once your plan becomes active. Your family will receive twice the life insurance benefit in case of death due to accident.
   
   AIA All-In-One also comes with cash benefits that can help with living expenses or emergencies in cases of accident, permanent disability, or critical illness such as cancer, heart attack, and stroke. In case of permanent disability, the plan becomes fully paid while the lifetime coverage continues.
   
   With this in mind, you can conveniently build your legacy and live worry-free with your family.

Preparing for the unexpected can be daunting but it is always worth it to know your family will be financially secure in the future. By building your legacy, you will create a positive impact in your family’s life and you will be assured they will forever feel your love and care even when you’re no longer around.

Know more about AIA All-in-One by visiting the AIA Philam Life website at philamlife.com, Facebook page at https://www.facebook.com/AIAPhilamLife/, emailing philamlife@aia.com or calling (02)8528-2000.

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About AIA Philam Life

The Philippine American Life and General Insurance Company (AIA Philam Life) is the country’s premier life insurance company. Established on 21 June 1947, AIA Philam Life has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.

AIA Philam Life has PHP291.38 billion in total assets as of 31 December 2019, while serving over 500,000 individual policyholders and over 1,500,000 insured group members.

AIA Philam Life understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries—BPI-Philam Life Assurance Company (BPLAC) and Philam Asset Management Inc. (PAMI).

AIA Philam Life is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.

About the Philam Group

The Philam Group comprises the biggest life insurance company in the Philippines. By putting its customers at the center of its operations, the Philam Group has earned the trust of its stakeholders and has achieved continued growth over the years.

The Philam Group was formed with the mission of empowering Filipinos to achieve financial security and prosperity. Through its strong network, it is able to offer financial solutions such as life protection, health insurance, savings, education, retirement, investment, group and credit life insurance, and fund management products and services.

After the establishment of AIA Philam Life in 1947, the Philam Group has since expanded to include other affiliate companies, namely: BPI-Philam Life Assurance Company (BPLAC), Philam Asset Management Inc. (PAMI), Philam Call Center, and Philam Foundation.

Based on the Insurance Commission results as of 31 December 2019, the combined total premium income of AIA Philam Life and BPLAC is at PHP33.87 billion. Its strength and stability is solidified by AIA Philam Life’s assets at PHP291.38 billion, and net worth at PHP88.94 billion. It is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR(2), New Zealand, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$291 billion as of 30 June 2020.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

Media Contact:

Abbie L. Remo
AIA Philam Life Head of Corporate Communications and PR
Telephone: +(632) 521 6300 local 2812
Email: Abbie-D.Remo@aia.com