I joined the Philam Life Bond Fund a couple of years ago. I have my insurance with Philam and so instead of paying directly to the counter for my payables, I put my money in the Bond Fund, where my payables are automatically debited when the deadline arises.
This worked pretty well for me. As I got to pay my insurance dues without having to go to their office, while my money earns interest.
This went well for two years. However, with the global economic crunch, PhilAm, whose mother company is AIG, is up for sale. Although there are many takers for this company, still there is a risk in putting money there.
Anyway, I opted to stop auto debit payments for now. But thankfully, despite the erratic investment environment nowadays, the PhilAm Bond Fund is still stable. And with the money I put in two years ago, I am still on the positive mark.
So even if the company is facing a problem, I still put in some money. And I recommend that you do, too.
And their service is very good, too.