ACCORDING to statistics submitted by insurance companies to the Insurance Commission (IC), in the past five years, life insurance companies have been collecting 72 percent of their premium income, on average, from variable unit-linked or universal life (VUL) insurance products. This piece of data suggests the popularity of VUL products in recent years in the Philippines. Although VUL insurance has already gained traction in the country, it is even more important that the insuring public be more informed about this type of insurance product, especially about its policy benefits and design mandated by the Philippine laws.