Overview
- In this article, we’ll walk you through the benefits of a savings account with life insurance, from financial protection to higher interest rates and improved money habits, all designed to help you build a more secure future.
- A savings account with life insurance offers a practical solution by combining financial growth with peace of mind.
- Whether you’re just starting your savings journey or looking for extra security for your loved ones, this type of account gives you the best of both worlds.
Life’s uncertainties—job loss, medical bills, market changes—make financial planning crucial. One practical way to do that is by opening a savings account with life insurance. This option combines growth and protection in one product that allows you to earn interest on your savings while providing financial coverage for your beneficiaries. It’s ideal for individuals who want to maximize their money without juggling separate financial tools.
In this article, we’ll walk you through the benefits of a savings account with life insurance so you can decide if it’s the right fit for your financial goals.
Key Benefits of This Type Of Savings Account
This unique kind of account goes beyond simple savings. Here are the key advantages that make it a smart and secure financial choice.
Protect Your Loved Ones Financially
A savings account with life insurance is a practical upgrade from a regular account. Beyond helping you grow your money, it includes built-in protection that can support your family with essential expenses if something unexpected happens. It’s a simple way to plan ahead with more peace of mind.
Grow Your Savings With Added Security
Unlike traditional life insurance, where you keep paying premiums without growing your money, this type of account lets you do both. Your savings earn interest over time, just like a regular bank account, while the built-in life insurance adds an extra layer of protection. It’s a smarter, more rewarding way to save and stay covered.
Affordable And Convenient
You don’t have to break the bank to get insured. Most savings accounts with life insurance come with low maintaining balances and no separate premium payments. This makes it more accessible even if you’re just starting your savings journey.
Encourages Financial Discipline
Having a savings account tied to life insurance motivates you to consistently set money aside. The need to maintain your balance to keep both savings and coverage active helps build better financial habits over time.
What Are the Usual Requirements to Get a Savings Account?
Opening a savings account in the Philippines is simple, but financial institutions still need to verify your identity and contact information for security and compliance. These requirements are in place to protect your money and ensure a smooth banking experience.
One Valid ID
Banks require at least one valid government-issued ID to confirm your identity. This helps prevent fraud, complies with anti-money laundering regulations, and ensures that the account is opened under your legal name.
Permanent Address in the Philippines
A Philippine address shows that you are residing in the country and are eligible to open a local bank account. It also helps banks reach you for important documents, statements, or verification purposes.
Valid Email
A working email address is needed for digital banking transactions, account alerts, and correspondence. It’s your main channel for receiving updates, OTPs (one-time passwords), and important notifications from the bank.
Local Philippine Mobile Number
Your mobile number is essential for verifying your identity during logins, transactions, and customer support. Banks use this to send OTPs, app notifications, and updates about your savings and life insurance coverage.
Where Can You Get a Savings Account with Life Insurance?
You can open a savings account with life insurance at UNO Bank, a fully digital bank in the Philippines that makes saving smarter and more secure. With the #UNOready Savings Account, you earn an impressive 3.75% p.a. interest rate credited daily—and when you maintain an average daily balance of ₱10,000, you also get free life insurance coverage worth ₱50,000, valid until you turn 66. That means your savings grow consistently while also providing added peace of mind for you and your loved ones.
Opening and managing your UNOready account is easy through the UNO Mobile App. You can fund your account anytime via InstaPay or PESONet, so deposits and transfers are hassle-free.
With no need to visit a physical branch, this all-digital solution offers a flexible, secure, and convenient way to save while staying protected—perfect for Filipinos who want more value from their everyday banking.
Key Takeaway
There are many benefits of a savings account with life insurance, from growing your money and ensuring financial protection for your family, to encouraging better saving habits and providing peace of mind. It’s a practical way to hit two goals at once: prepare for the future while staying protected today.
If you’re looking for a simple way to start, there’s an easy solution. Open a #UNOready Savings Account with UNO Bank today. No need to visit a branch, just download the UNO Mobile App on Google Play and the App Store and start saving and securing your future today.
