St. Peter Life Plan

I have just availed of a St Peter Life Plan. For P550 per month for 5 years and hopefully after a very long and fulfilled life, I get to enjoy the St. Dorothy package. According to the St Peter brochure that the Family Counselor has given me, this package is a traditional memorial plan with return of premium. At the 11th year, the contract price of P30,000 will be returned to me in P6,000 increments until the 15th year, and so in the end, the memorial service becomes totally free. The plan is also transferable – the planholder may transfer the plan to another living person. However, the transferee will be entitled to the “money back” only if the transfer is made before the planholder starts receiving the “money back”. Another feature is assignability – the planholder may assign the plan to any deceased person, provided that the balance, if any must be paid before the service is rendered. “Money back” shall cease automatically once the plan is assigned.

Other value-added benefits include additional cash benefit to the planholder’s beneficiaries if the planholder dies during the paying period or within 5 years after the full payment of the plan, accidental death and dismemberment, waiver of installment balance in the event of uninterrupted disability of at least 6 months, and the unpaid balance shall be deemed paid if the planholder passes away anytime within the paying period.

I live my life, to borrow Mel Changco’s line every Sunday, as a blessing to others, and I got the plan so that I won’t be a burden to my family even when I finally leave this earth.