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  4. 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More
  • 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More 1
  • 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More 2
  • 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More 3
  • 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More 4
  • 10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More 5

10 Best VUL Insurances in the Philippines 2023 | Pru Life UK, Sun Life, and More

As we have seen how unpredictable life can be in the past few years, VUL insurance has become very popular. It's important to insure your future, and a Variable Universal Life (VUL) Insurance can help give you the security you need. It's a type of life insurance with an added benefitーit builds a cash value because you can invest it in separate accounts like mutual funds.


It's one of the most ideal policies for young professionals or for those who want to grow their money and have the chance to enjoy it eventually. To find out your options for the best VUL insurance that you can get, check out our top 10 list below. We also have a buying guide that will teach you all that you need to know to find out which VUL insurance is the right fit for you.

Last updated 07/14/2023
Editorial Team
Guide
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Editorial Team

Our recommendation articles are carefully researched and crafted by the mybest Philippines team of writers and editors. To stay true to our company’s mission and vision to help users’ selection process easier, we also collaborate with experts from various fields to ensure that our content stays factual and useful.

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Table of Contents

How to Choose a VUL Insurance - Buying Guide

Here are some key points to consider:


  1. Determine if you will benefit from a VUL insurance.
  2. Take note of the different inclusions of a VUL insurance.
  3. Consider the payment terms that match your budget.

For more detailed information, read through our buying guide below.

1

Determine if You Will Benefit From a VUL Insurance Plan

Determine if You Will Benefit From a VUL Insurance Plan

Before moving forward with a VUL insurance, assess first whether it’s the right type of insurance for you. Since a big part of VUL insurance is investing in the market, there is a certain level of risk involved. Those who are more risk-averse may want to look into other life insurance options.


However, for those who want to start investing, you will surely benefit from a VUL insurance policy. This is especially true if you can contribute to the plan early on, providing more opportunity for growth, while having different living and death benefits. 


It would be good to check, too, if your age qualifies you for the plan. This is because some plans have age requirements. For example, some policies are only issued to individuals from 0-50 years old or 0-70 years old.

The Death Benefit Will Leave Your Family With a Sum of Money In Case of Your Death

The Death Benefit Will Leave Your Family With a Sum of Money In Case of Your Death

Your VUL insurance will have a sum insured, which is known as the death benefit. This is because, in case of your death, your beneficiaries will receive that sum. It’s guaranteed, regardless of how your policy’s investments performed. 


Some death benefits are also tax-free, which means your beneficiaries will receive the death benefit and investment returns without having to pay an estate tax to the government. This will allow them to truly maximize the sum that they receive. 

2

Take Note of the Different Inclusions of a VUL Insurance Plan

VUL insurance policies have different inclusions, depending on the plan you choose. In getting the right policy, consider what inclusions you can maximize and what you can do without. Here are some common benefits that you will encounter when looking at different VUL insurance policies.

Different Investment Options Will Grow Your Funds Over a Period of Time

Different Investment Options Will Grow Your Funds Over a Period of Time

The premium that you pay or the cash payments that you make every month or so get invested in a diverse portfolio. This is why it’s said that VUL insurance has the same benefits as a mutual fund.


Your money is put into diversified and professionally managed investments that match your risk tolerance and financial goals. This means that your money will yield higher returns compared to storing your money in a regular savings account and other types of life insurance. 

Health Insurance Coverage Will Help You During Emergencies

Health Insurance Coverage Will Help You During Emergencies

Some newer VUL insurance plans have optional benefits like health insurance, which includes coverage for critical illnesses, accidents, and income protection. Even though it’s recommended to have a separate and more comprehensive health insurance, this is still a good feature to have in your VUL for emergencies.

3

Consider the Payment Terms That Match Your Budget

Consider the Payment Terms That Match Your Budget

You don’t need to spend a lot to get a solid VUL insurance. Set a budget that you can comfortably stick to, depending on your salary and monthly expenses. By doing this, you will be more consistent in paying your premiums, which will give your money more opportunity to mature and grow.


Check out different VUL insurance providers’ payment terms, too, so you can choose the most flexible payment scheme that will be the most feasible and convenient for you to follow. Because the premium of VUL insurance is generally flexible, you will find companies that offer monthly, annual, or lumpsum payment terms. This gives you more options and more control over your finances.

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10 Best VUL Insurance to Buy Online

The products we introduce below were carefully curated by the mybest team, from the best-sellers of E-commerce sites like Lazada, and using the points mentioned in our detailed and thoroughly researched buying guide.
Popularity
Products
Image
Click to purchase
Key features
1

Pru Life UK

PRULink Assurance Account Plus

Pru Life UK PRULink Assurance Account Plus 1枚目

Provides You and Your Money With Maximum Protection

2

Allianz PNB Life Insurance

AZpire Growth

Allianz PNB Life Insurance AZpire Growth 1枚目

Has Convenient Features That Are Perfect for Millennials

3

Sun Life

Sun MaxiLink 100

Sun Life Sun MaxiLink 100 1枚目

Secure Your Child’s Education by Building Your Funds

4

Insular Life

Wealth Secure Global

Insular Life Wealth Secure Global 1枚目

Budget-Friendly VUL That Has Lots of Additional Benefits

5

Manulife

FutureBoost

Manulife FutureBoost 1枚目

Get Additional Rewards Added to Your Plan As You Stick With Your Insurance

6

FWD Insurance

Set for Life Investment

FWD Insurance Set for Life Investment 1枚目

Customize Your Plan to Get Extra Assurance on Your Policy

7

AXA

life basiX

AXA life basiX 1枚目

Take Advantage of the Expertise of the Metrobank Trust Banking Group

8

Cocolife

Lifevest

Cocolife Lifevest 1枚目

Available in Single Pay and Limited Pay Variants

9

BDO Life

Saveflex Secure

BDO Life Saveflex Secure 1枚目

Enjoy Flexible Premiums That Will Work With Your Budget

10

AIA Philippines

Money Tree

AIA Philippines Money Tree 1枚目

Grow Your Money Through Expertly-Managed Funds

If you don't see the product you're looking for, you can request that it be listed.
No.1

Pru Life UKPRULink Assurance Account Plus

PRULink Assurance Account Plus Image 1
Source:prulifeuk.com.ph

Provides You and Your Money With Maximum Protection

Pru Life UK pioneered VUL insurance in the Philippines, which is clear in their well-designed PRULink Assurance Account Plus insurance plan. Essentially, it's a VUL insurance plan that will help you achieve financial growth while giving you maximum protection coverage with affordable premiums. 


It comes with a variety of core benefits, including a death benefit, maturity benefit, accelerated total and permanent disability, and accidental death and disablement benefit. This means that it will protect you against freak accidents, as you will receive a cash payout deducted from your base plan and paid in advance in case of sudden sickness or injury.


You can also avail of optional benefits, including protection from critical illnesses. With this, you will receive cash payouts in case of diagnosis and/or surgery, depending on the terms that you avail. There's also an optional benefit for protection against hospital expenses.

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No.2

Allianz PNB Life InsuranceAZpire Growth

Has Convenient Features That Are Perfect for Millennials

Catering to millennials, this VUL insurance has a lot of convenient features that allow you to easily grow, protect, and access your money. It has pocket-friendly payment terms that you can control, meaning you can pay your premiums annually, semi-annually, quarterly, or even monthly. You can also boost your plan anytime.


This means that you can level up your investments, so you don't have to take out new policies or invest instruments if you have a lot of extra cash. This plan also allows you to easily withdraw from your funds anytime. Plus, if you withdraw twice a year in the 5th year of your policy and onwards, it will actually be free of charge!

No.3

Sun LifeSun MaxiLink 100

Secure Your Child’s Education by Building Your Funds

When you invest, there's always a chance of high returns, which will help you to build funds for different needs and wants, like your child's education. With Sun Life's suitable investment options and professional fund management, you can choose from different fund investment options that will allow you to grow your money according to your risk appetite.


As your investment matures, it can help meet your children's school expenses and allow you to get them the best quality education available. Meanwhile, for emergencies or urgent expenses, you can add additional protection from contingencies or make partial fund withdrawals to help you get some cash on hand.

No.4

Insular LifeWealth Secure Global

Budget-Friendly VUL That Has Lots of Additional Benefits

Investing in the global market can cost hundreds of thousands or even millions, but it doesn't have to, not with the affordable cash out that Insular Life's Wealth Secure Global offers. It only requires a minimum annual premium of Php 50,000, making it perfect for young professionals and those who are just starting out. 


But even though it's more affordable compared to others, it has great features such as life insurance benefits that amount to 5x your regular premium on top of the accumulated fund value. It also offers various additional benefits that you can maximize. 


For instance, it includes a waiver of premium benefit that waives all regular premiums in case of a disability that has been going on for 6 months due to an accident or sickness. It also has other optional health and hospitalization benefits.

No.5

ManulifeFutureBoost

Get Additional Rewards Added to Your Plan As You Stick With Your Insurance

Manulife has gone above and beyond to help you secure every stage of your life, offering rewards to boost your plan. You will get rewards or bonuses added to your fund for paying on time, topping up your premium, and staying loyal to help your money grow and your investments prosper.


You can also ask your financial advisor about the different options you have to boost your plan with other add-on protection benefits to better secure your future. With Manulife's expertly-managed funds, you will have access to local and global growth opportunities to help you get the future of your dreams for yourself and your family.

No.6

FWD InsuranceSet for Life Investment

Customize Your Plan to Get Extra Assurance on Your Policy

The Set for Life Investment covers all the bases of a good VUL insurance, having death and living benefits and flexible payment terms. You can actually choose whether you want a 5-year, 7-year, 10-year, or yearly payment plan. But the greatest thing about this insurance is that you can personalize it to cater to your specific needs.


You can choose from different policy add-ons to add a layer of assurance to your insurance policies. Some examples of add-ons that FWD Insurance offers are RecoveryPro for help during unexpected hospital stays and SurePro for Owner, which means future premiums will be waived if the owner can no longer pay. 

No.7

AXAlife basiX

Take Advantage of the Expertise of the Metrobank Trust Banking Group

Securing one's family in the event of loss of income or sudden demise is one of the greatest priorities of the typical Filipino, which is why life basiX is a good policy to get. Aside from a Php 400,000 life coverage, it provides you access to high-performing funds. This is thanks to the expertise of Metrobank Trust Banking Group.


They're one of the best fund managers in Asia, so with them on board, your money is in good hands. You can choose to invest in bonds, stocks, or a combination of both, depending on your preferred growth, investment horizon, and risk appetite. This way, you can watch your money grow as the years go by.

No.8

CocolifeLifevest

Available in Single Pay and Limited Pay Variants

Cocolife gives everyone the chance to invest, making their Lifevest VUL insurance available in single pay and limited pay (either 5-Pay or 7-Pay) variants. The minimum single premium for single pay is Php 60,000, while for limited pay, it's Php 30,000 annually. This will allow you to enjoy different benefits, depending on what you avail.


For the single pay option, you can get one of the highest levels of protection benefits, as well as additional riders like accidental death and dismemberment and critical illness benefits. As for the limited pay option, you will be able to enjoy faster and higher fund accumulations with higher investment earnings for maximum growth.

No.9

BDO LifeSaveflex Secure

Enjoy Flexible Premiums That Will Work With Your Budget

From its name, Saveflex Secure offers flexible terms while making sure you and your family are protected through guaranteed life insurance coverage and potential returns on your investments. You can choose your funds and allocate your premiums and easily change your choices as time goes by.


You can also enjoy flexible premiums by dictating how much you can set aside for your insurance and picking between flexible premium payment options of three, five, or ten years. You also have the option of topping up your payments to increase your fund value and insurance coverage, as well as add on riders to your plan.

No.10

AIA PhilippinesMoney Tree

Grow Your Money Through Expertly-Managed Funds

Most of our goals can't be reached without money, so it's important to grow our present funds for a brighter future ahead. One of the ways you can do this is with Money Tree, a VUL insurance by AIA Philippines that will maximize your money's growth potential through access to expertly-managed funds.


As you increase your investment, you can also receive additional loyalty bonuses to encourage you to continue growing your money. You can also opt for additional coverage, such as term insurance, which is additional life insurance coverage on top of the plan's benefit for maximum protection.

Frequently Asked Questions

Below are some of the most asked questions on the web answered by the mybest team.

Is VUL a Good Investment?

Yes. Not only will you get the chance to invest in professionally-managed funds, you will also have life insurance that has a guaranteed sum. However, if you're risk-averse, consider looking into other types of investments and insurance first before deciding to get a VUL insurance plan.

Who Regulates Insurance Companies in the Philippines?

Insurance companies in the Philippines are regulated by the Insurance Commission. They're under the Department of Finance, supervising and regulating operations of life and non-life insurance companies, mutual benefit associations, HMOs, and trusts for charitable uses.

How Does a VUL Policy Work?

A VUL is a life insurance and investment combined. It has death and living benefits, paying out your loved ones in case of your death and investing your money in different local and global funds. Most VUL insurance plans also have additional optional benefits, such as critical illness and hospitalization riders.

Check Out Other Insurance Options

It's important to insure not only your future, but also other aspects of your life like your health, home, or car, among others. If you're looking for more insurance plans that you can avail to work your way towards a brighter future, check out our other articles below for more recommendations.

Author: Bianca Angela Dela Cruz

Editor: R. Umlas

How We Chose and Ranked Our Product Recommendations

Our buying guide was carefully researched and crafted by the mybest team of writers and editors. We used the buying guide as a basis for choosing and ranking the product recommendations, and we looked at reviews and ratings from different E-commerce sites like Lazada, Shopee, and more.

Top 5 VUL Insurances

No. 1: Pru Life UKPRULink Assurance Account Plus

No. 2: Allianz PNB Life InsuranceAZpire Growth

No. 3: Sun LifeSun MaxiLink 100

No. 4: Insular LifeWealth Secure Global

No. 5: ManulifeFutureBoost

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The descriptions of each product are referenced from content available on manufacturer, brand, and e-commerce sites.
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