St.Peter Plans Overview
I’m familiar with St.Peter Plans even before they made Kuya Kim as their endorser. I just became more interested with it dahil sa tagline na “ang buhay ay weather weather lang”.
It sounds funny, but let’s face it, it’s the reality, lahat tayo doon din ang punta, hindi sana ngayon, pero someday. The tagline reminds us to be prepared when this unforeseen event happen.
Pero bakit nga ba pilit na iniiwasan ang ganitong usapan ng mga Pinoy? I think because some of us believe that owning a memorial plan will speed up our death. Just like the myth of having a piggy bank, which they say will make the people in the house visit the hospital more.
But you know what, if you love your family and you don’t want them to suffer financially after your death, it would be great if you already made a plan for it.
I suggest to get a Life Insurance (a VUL if you want to include investment), a health insurance (for sickness in case) and a Memorial plan.
How much does a memorial service cost in the Philippines if you don’t have a memorial plan, you might ask? Well, from what I heard you need to prepare around 50K or more for the funeral service which includes, ready casket for the deceased, Chapel or mortuary, pick-up of the body from the house or hospital, embalming procedure, transfer permit processing, death certificate processing, and forwarding of such to the concerned City Hall. Not included in this cost are the food for visitors, flowers and other extra services.
That is why it is important to get a memorial plan like St. Peter because it is cheaper compared to the price “at need”.
ST.PETER MEMORIAL PLAN BENEFITS:
- You can pay in installment for as low as P725 per month (until September 30, 2019). Yes they will have a price increase after this date, and you know what their minimum before is just P550. If you will get one the soonest the better because the price is cheaper. You can also choose quarterly, semi-annual, yearly or spot cash (which has 10% discount).
- There are no medical exams required.
- You’ll get a life insurance equivalent to the price of the package you chose. That’s valid until age 60. It’s just that they have a 1 year and 2 days contestability period.
- If you die from accident, your family will get twice of your insurance cost.
- It is Transferable. This is my fave part, because I decided to get one as an investment. Your plan is not tied to the plan holder. You can sell it to another person if you want. You may choose to sell it on the current price of the unit (which is still lower than the “at need” price).
- It is Assignable. You can give it to a friend or relative close to you when they die.
- It is Loanable. Yes you can borrow a certain percent of your contract after a certain period of time.
- Moneyback. They have a package that has a moneyback guarantee (beside the traditional plan). With the money back option, you can get the cost of your plan in 5 staggered payment after the 16th year of the time you purchased it.
- If your family was not able to use the memorial service (because maybe they don’t know you have one from St.Peter and later on found out), your family can assign it to a living family member (good for 1), or they may choose to receive cash.
- Viewing Period: 4 days in a chapel and 7-10 days at home
As I have mentioned, they will have a price increase this October. This will be the new price.
That’s a huge difference right? So if I were you, get one now!!!
BTW, make sure to get an accredited St.Peter agent (look for their ID). If you are from Cavite or nearby area, I can recommend someone (my agent). Leave your email here if you are interested or PM me on my Facebook account – facebook.com/mommylevyblog
If you have any questions, I will try to answer it, but I am not connected to St.Peter so I will also ask my agent about it.