Universal bank Security Bank Corp. now manages three new investment-linked or variable life insurance products from FWD Life Insurance Corporation, also known as FWD Philippines.

The bank’s Trust and Asset Management Group (TAMG) has started handling funds for FWD Peso Fixed Income Fund, FWD Peso Equity Fund, and FWD Peso Balanced Fund.

“This strategic collaboration between Security Bank and FWD Life Insurance will enable us to further enhance our market share in the insurance and trust sector,” TAMG head Maricar Lopez.

“We’re excited to welcome these funds into our management portfolio and offer our customers a holistic approach to financial planning,” Security Bank president and chief executive officer Sanjiv Vohra added.

Flexible payment terms

FWD Variable life insurance products offer flexible payment terms and investment options with optional add-ons for extra protection and give access to a global investment portfolio with no premium charges and medical exam.

They also cover up to three major critical illnesses until age 75, include waiver of premium benefits, provide a death benefit and a return of premiums paid when no claims were made.

“Wealth creation and protection should come hand in hand. We have celebrated major milestones in our 10-year partnership with Security Bank all to champion our customers’ needs and interests, and we’re looking forward to creating more value,” FWD Philippines chief financial officer Lee Longa said.

FWD Philippines is part of FWD Group, a pan-Asian life and health insurance business with more than 12 million customers across 10 markets.