SM Advantage Card and Philam Accident Insurance Program



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” instead of the positive confirmation (“enroll if you want to”) — is no doubt a cunning marketing strategy on SM’s part. For me, 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 we spent P4,000 to get 20 SMAC points (since every P200 spent in SM is equivalent to 1 SM Advantage point), we technically paid P4,000 to get that unsolicited Philam insurance.
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 then by insurance 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 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.

About the Author

PSEi support seen at 6,200 and 6,000 amid weaker Peso

In a not-so-surprising move, the U.S. Federal Reserve (Fed) yesterday raised interest rates by 75 basis points (bps) or 0.75% in a bid to tame rising inflation in the United States. This was the third consecutive 0.75% rate hike by the Fed, which brings the federal funds rate, the central bank’s benchmark interest rate, to ... Read more

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more
blank

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more
blank

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more
blank

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more
blank

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more
blank

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more
blank

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more
blank

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

24 thoughts on “SM Advantage Card and Philam Accident Insurance Program”

  1. finally something worthwhile na naisipang ibigay in exchange of the points. i was just contemplating about the point system of most of the restaurants/malls/bookstores have, iniisip ko na walang kwenta ung mga kapalit so hindi ko ginagamit ung advantage card ko kahit meron ako, pro sa nalaman kong ‘to, im going to start earning points, im gonna spread the word about this…tnx for posting this article

    Reply
  2. very unfair! why would they charge us (through points deduction) without asking our approval first? i noticed that philam has been very agressive in its marketing strategies, even to the point of relentless telemarketings. but i didn’t expect that sm would “conspire” in this marketing ploy. why would i be forced to get something that i don’t need? and why would i have to drag myself to any sm mall and line up just to get myself out of this “freebie” which i didn’t apply to in the first place?

    Reply
  3. Yup we can opt out of the promo but what I can’t accept is the fact that they automatically debited our points without asking permission first. Like what marou said, it would be a hassle for someone to queue up in SM just to opt out of a promo you yourself did not want in the first place.
    I only have two words for this SM- Philam Insurance marketing campaign: Totally unacceptable.

    Reply
    • I dont think i need this insurance since there are only 3 months left for 2011, I demand the SMAdvantageCard to return my 20 points which i can use for other purposes.
      Liling/Eulalia b. Alcasid

      Reply
  4. i just received this email from SM Advantage, correcting a previous email. nakakainis lang na 1) binawasan nila ng 20 points card ko, 2) the promo started 9/15/2007 and they’re sending the notification only now?!
    =====
    Greetings!
    This is to correct the information that was given to you in our e-mail dated May 24, 2008. Your SM Advantage – Philam Personal Accident Insurance Program coverage started last 09/15/07 and will end 09/15/08, and not 09/15/08 – 09/15/09. 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 Customer 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 http://www.sm-advantage.com.
    We apologize for any inconvenience which the earlier misinformation may have caused you. Rest assured that your concerns will be addressed accordingly.
    Thank you!
    SM Advantage

    Reply
  5. Got the same email the other day and it angered me how they can be so devious! I don’t take things like that sitting down so I called the SMA hotline. Imagine my shock when I was told that I was covered since 2006 and that 40 points were already deducted from my account WITHOUT MY KNOWLEDGE! The CS rep had to gall to tell me it’s for my own good and that it is a privilege on my part. What crap.
    If you wanna know more about my succeeding actions (replied to the email, filed a formal complaint to DTI, was given bullsh*t answers, etc.) and how you can also file a complaint (perhaps DTI will finally take notice if more will speak up), please do read the posts about them in my site
    Thanks …

    Reply
  6. 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.

    Reply
  7. 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.

    Reply
  8. 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….

    Reply
  9. 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.

    Reply
  10. “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.

    Reply
  11. 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.

    Reply
  12. Philamlife sucks! They’re desperate and very aggressive in their marketing strategy to deceive people with their stupid promos.

    Reply
  13. i don’t understand what the others’ complaints are all about. in my opinion, sm as well as philamlife are doing their customers a big favor. imagine providing them accident insurance for a mere 20 points which if you opt to use in your purchases is equal to 20 pesos only. i see this as a way of sm in thanking their customers for patronizing their stores. actually i am covered up to may 2011 but this early i opted for automatic renewal by filling in a form which i submitted to sm advantage section in sm north edsa. dropping by their counter is not really a hassle esp if you are already in there shopping. just hoping that this is not just a scam but an honest to goodness way of giving back to sm clients the peace of mind that they deserve.

    Reply
  14. i just recieved a tx informing that i am now a member of sm accident insurance amounting to 100k,i dont understand,should i pay 4000 pesos to where?

    Reply
  15. pls pakibalik po nun kinuha sa aken n 2,138 pag k widraw ko 2200 nlng sweldo ko hindi ko n po kaylan n inuoper ninyo insurance n kala ko 1069 pesos lng ung ung nka saving dun at d n un madadagdagan pa.un pla every sweldo ko nk outo n cia ikakaltas ng bdo.pls d ko n ned ung insurance ninyo pakibalik po nman ng pera ko pls

    Reply

Leave a Comment