SM Advantage Card and Philam Accident Insurance Program
May 27, 2008
Today I received an email from SM Advantage Card (SMAC) informing me that I’ve been automatically enrolled into the Philam Personal Accident insurance Program.
The email states:
Greetings!
We are pleased to inform you that you have qualified, and have been enrolled, into the SM Advantage – Philam Personal Accident Insurance Program. Your coverage started last 08/15/07 and will end on 08/15/08. As token payment for this special benefit, we have deducted 20 points from your SM Advantage Card balance.
For only 20 points, the program provides qualified members with the following benefits:
- Php 100,000 personal accident insurance coverage, 24 hours a day for 365 days, anywhere in the world.
- Up to a maximum of Php 100,000 for permanent disability due to accident.
- Also covers members while traveling on public/private transportation by air, sea and land (except motorcycle).
- Death due to drowning, dog bites, snake bites, murder and assault also covered.
- Accidental Burial Expense Reimbursement
If you feel that this Program is not for you, and that you would rather not be covered, you may Opt-out through either of the following:
- by calling the Philam Insurance Hotline at (02) 528-5202, or
- by filling up an Opt-out form at Costumer Service Counter of any SM Department Store, SM Hypermarket and SM Supermarket.
Your 20 points will be promptly credited back to your account should you choose to Opt-out from this Program.
For questions regarding your SM Advantage – Philam Personal Accident Insurance Program you may call the Philam Insurance Hotline at (02) 528-5202 or log-on to www.sm-advantage.com.
The use of negative confirmation — that is, “opt out if you don’t want it” rather than the positive confirmation “enroll if you want to” — is no doubt a cunning marketing strategy on SM’s part. For me, though, this is nothing but a direct attempt to force the Philam Accident Insurance Program down SM Advantage Card members’ throats and an indirect way of reducing SMAC points.
If you do not see it yet, this insurance product is not really for free. Since 20 points are being used as “token payment,” a member is essentially shelling out P4,000 to “receive” the insurance (since every P200 spent in SM is equivalent to 1 SM Advantage point).
It is a valuable benefit indeed, especially to those without insurance, but why did coverage start in August 15 last year and I was informed only 9 months later — when there are only 3 remaining months in my insurance coverage?
What if I figured in an accident, say, in August 16 last year? I was already covered by insurance then but how would my beneficiaries get anything if they and I myself didn’t know I was insured?
Nice try, but I’m not falling for it.
Since I already have a life insurance policy with Ayala Life, I don’t think I need this Philam Accident Insurance anymore. So first thing in the morning tomorrow, I’ll call SM Advantage to opt out of this lame promotion.
If you were similarly entered into this Program, think twice if you really want to join. As for me, I think I can better spend my 20 SM Advantage points somewhere else.
June 4th, 2008 at %I:%M %p
i experienced of hacking my sm advantage points last dec. 2007 and it almost 780 points according to the investigation it was only an error in one of the sm i cant tell where for the protection of the sm company, they promise to get back my points but until now no points added to my account. my question is how if my points hacked again what is the maintaining points balance of sm advantage card so i can qualify for the benefits.
July 3rd, 2008 at %I:%M %p
I received a txt saying that I am now covered for accident insurance. PLEASE STOP IT I DID NOT APPLY NOR REQUEST THIS COVERAGE. I AM NOT INTERESTED AT ALL. this is the second time you have done this and truly please stop enrolling me without my permission. I said NO DURING THE FIRST CALL BUT GOT ENROLLED NOW IT”S HAPPENED AGAIN. Charles Chamsay, Jr.
August 14th, 2008 at %I:%M %p
I have just received a message a while ago from SMAC,notifying me that im now covered by this insurance(blah,blah,blah).First i did not enrolled with this insurance of philam-sm advantage card.
And im not interested,too.So i was trying to call the said number but its so busy.Please get me back my points….
December 19th, 2008 at %I:%M %p
Good Day fellows:
Few weeks ago I received a txt msg. about my enclsuion in the insurance, just wonder because i coudnt recall signing or enrolling any insurance, however tnx for including me…Ironocally, i am not fully inform about the details of this isnurance please give me all the details. and just a question, few days ago I had a chance of checking the points i earned from my advantage card, I found out that i only earned at about 3hundred points, how could that be where infact my membership starts when the SM baguio opened since 2003. If i may recall i had it renewed one time and had it replace due tpo some damages. would it be possible that all points i earned is not transfered for during the replace and renewal?
Hoping that you will answer all m y queries….more power and have a blessed Christmas.
December 24th, 2008 at %I:%M %p
“If you do not see it yet, this insurance product is not really for free. Since 20 points are being used as “token payment,” a member is essentially shelling out P4,000 to “receive” the insurance (since every P200 spent in SM is equivalent to 1 SM Advantage point).”
No, you spent that 4000 on your own, and then SM gave you 20 points, which is what, equal to 20 pesos? Thus you are only shelling out P20 not P4000. You can’t even buy socks for P20. Thus, insurance coverage of 100K for 20 points is a good deal.
But I’ve heard a lot of nightmares about this SM Advantage thing, wherein the members aren’t earning enough points. But personally, I’m not so hot about earning freebies through SM Advantage, thus I’d rather take that insurance promo just for some added coverage.
January 12th, 2009 at %I:%M %p
I also got calls from agents informing me about this SM advantage and Philam life partnership.
But in my case, it’s different. They told me that I will not be shelling out any amount if I confirm my application but I will be paying around P230/month in 1 year which they will charge in my credit card. Of course I refused. Obvious to be another marketing strategy.
March 31st, 2009 at %I:%M %p
im not interesting,pls back my 20points
September 5th, 2009 at %I:%M %p
Philamlife sucks! They’re desperate and very aggressive in their marketing strategy to deceive people with their stupid promos.