Term Life Insurance

[gypske]

Buti nga active kayo ni sis Rory, at least kahit papaano pareho mga worries natin what if after 65, dapat may CI rider, etc. 

Healthinvest na lang. Inis ako, 5 yrs to pay lang daw kasi. Sana meron dito na mga 20 yrs to pay para at least alam ko magkano premium. Ganda din kasi ng include sa plan.

[brandi]

^yan yung VUL in philam life sis? Bakit mo nagustuhan? Ano edge sa iba? Di ko kasi ininquire kasi VUL siya eh. 😂

[gypske]

Parang mas comprehensive (?)

FA - 1M
May accident & health - 1M
med reimbursements - 100k
ESCI - 500k
Daily HIB (2k), ICU (4k), long term hib (2k)
waiver

May note lang - get up to 500k pag CI but pwedeng up to 4x sa ESCI (125k each)

Maganda din like if labas masok ka sa ospital  - makakatulong yung income benefit kahit papaano.

Baka lang magging interested ka, sis. Pakibalitaan mo ako if may 20yr pay din para mas macompare natin...

sis brandi, have you checked Sun Life's Sun Fit & Well? Traditional yata ito.

[ning kuting]

Hi! I tried to come up din sa Pru Life UK with a plan na similar sa gusto nyo so you can have more options Here's what I was able to produce for a 30 year old female (Of course, pwedeng magbago yung values or pwedeng magtanggal ng riders based on your needs):

PruMax Value 15 (15-year renewable term, can be issued until age 65)

Sum Assured (SA): 1M
Death Benefit:  1M + 500k (if due to accident)
Disability Benefit: 500k (accelerated from SA, for 15 years or until age 70, whichever is earlier)
Critical Illness Benefit: 1M (accelerated from SA,  for 15 years or until age 70, whichever is earlier)
Accidental death and disablement: 500k (on top of sum assured,  for 15 years or until age 73, whichever is earlier)
Hospital income: 2k  (for 15 years or until age 65, whichever is earlier)

This also comes with 2 premium waivers: a waiver if the insured gets totally disabled and another one, if  she is diagnosed with critical illness. If one of this happens, Pru Life UK will pay for your remaining premium.

Starting premium is around 13k tapos increasing every year.  Total payment for 15 years is around 250k.

You can also attach a variable life rider to the policy, meaning you can put a fixed amount of money that will go into an investment fund of your choice. Let me clarify lang that this is not VUL as the insurance and the investment has nothing to do with each other. Hindi sya gaya ni VUL na kapag di ka nakabayad, the fund value can pay for your premium. If you stop paying, the policy lapses and you get the funds from your investment.

You can also automatically renew this term insurance to another 15 years basta before age 66 and the sum assured remains the same minus all the accelerated benefits (critical illness, disability), if any. No medical needed.

This can also be converted to whole life or VUL after 4 years.

[Rory_Lorelie_Gilmore]

^Glad to hear this policy Sis, san ka based banda sa Pinas if I may ask?

[gypske]

Sis ning kuting, meron ba kayong health plan like Sun Life Fit & Well at Philam Health Invest?

Age - 36 M non smoker
SA - 1M
20 year pay (more or less)

Compare ko lang sa nakuha ko.

Healthmax - 32k premium
Sunlife Grepa Fit & Well - 34k
Health Invest - 100k (5 yr pay)

[ning kuting]

^^ Sis @Rory_Lorelie_Gilmore, I'm based in Metro Manila.

^ Sis @gypske, wala kaming traditional (non-VUL) whole life coverage (up to age 100) with limited payment term. For 36 M with health coverage as priority and who wants a limited payment term (15 years and below). We have  the following options:

Option 1: PruMax Value 15 (Term Insurance)

Sum Assured 1M
Death Benefit: 1M
Accelerated CriticaI Illness Rider: 1M
Daily Hospital Income: 2k/day
ICU Income: 4k/day
Premium starts at around 16k, total premium for 15 years is around 300k. You can renew after 15 years. No medical required naman sa renewal as long as coverage stays the same. No need for waiver na ito kasi the whole sum assured is accelerated upon diagnosis. Kung gustong may matira for beneficiaries upon death, we can adjust sum assured and attach waivers.  All these values are adjustable.

Option 2: Pru Life  Care Advance Plus (1-year Stand-Alone Critical Illness Insurance)
1M Coverage for 36 critical illnesses
25% of sum assured can be advanced for as many as 4 early stage illnesses
Plus 10% of SA (1.1M) if insured undergoes angioplasty
Plus 20% of SA (1.2M) for diabetic complications
Plus 20% of SA (1.2M) for diagnosis of cancer in the advanced stage
Starting premium is 12k that increases annually, total premium is 75k in 5 years.

If you want lifetime coverage na limited pay, we have VUL with comprehensive health coverage pero yung mga example na binigay mo ay hindi VUL so I'm not gonna list your VUL options anymore. We also have traditional whole life with comprehensive health coverage and regular payment term.

Hope this helps.

[ning kuting]

Hi mga Sis,

I have a Manulife Horizons and been paying for 30 months already. I am paying around 59thou per year or 4900++ per month.

14thouplus is for my 1M critical illness
almost 40thou is for the annual premium where the 2300 is for investment.
Coverage is life insurance of P1M.

After checking my fund value, i computed that I have already paid 69000 for investment but my fund value now is only at 38000.

Been having second thoughts already considering this. What is the best thing to do? I plan to just shift to a TErm LIFE then find something else to invest on.

Hi sis. Sayang nahulog mong premium if stop mo na. But I don't know your exact context so my recommendation would be to re-assess your insurance needs.  If VUL still fits your needs, you can amend your policy. Pwede yun sa amin sa Pru Life so I'm expecting na pwede rin sa Manulife. Pa-sakto mo lang dun sa limit ng insurance coverage mo. For example, pwedeng for 1M death benefit at 1M critical illness ay 40k lang ang premium mo so request for an amendment of your premium commitment tapos yung remaining 20k ay i-cost average mo sa MF at UITF.  If you are definite na what you have is not right for you, then you can look for an alternative. Your friend should be able to guide you in moving forward.

About the low returns of your fund value:

1. May tinatawag tayong premium allocation schedule sa VUL. Usually kapag longer paying years like 15 years, napupunta  yung premium sa pag-set up ng policy on your plan's first year so wala pang laman agad ang fund value mo. This might be the cause kaya di match yung binayad mo sa laman nya. In the long-term, pwedeng humabol yan depending on your choice of fund. Syempe pag mga low returns gaya ng bond fund, medyo malabo pero kung equity, sosobra pa yan sa binayad mo kung long-term. May mga products na may fund value agad simula pa lang, merong wala. Check mo dun sa proposal mo kung anong klase yung sayo.

2. Check mo din yung performance ng funds mo, baka di masyadong maganda. Na-explain ba ng friend mo yung risk level mo at ng funds na pinili mo?

Bottomline, try to maximize your current policy. Pag wala na talaga, then tsaka ka lumipat.

You can send me your proposal or policy para ma-review ko tapos I can send my thoughts to you or share na rin natin dito para makatulong sa mga sis natin.

[PwedePadala]

Sis ning kuting, meron ba kayong health plan like Sun Life Fit & Well at Philam Health Invest?

My sibling is interested in getting a Sun Fit and Well for 15 years. It's expensive but it has a lot of coverage for illness, accidental death benefit with savings. Gusto niya sana is insurance for critical illness (CI) lang kaso wala pa lang ganun sa Pinas halos rider and CI so kumuha na rin ng life insurance.

[D4thAngel]

My sibling is interested in getting a Sun Fit and Well for 15 years. It's expensive but it has a lot of coverage for illness, accidental death benefit with savings. Gusto niya sana is insurance for critical illness (CI) lang kaso wala pa lang ganun sa Pinas halos rider and CI so kumuha na rin ng life insurance.

My sibling is interested in getting a Sun Fit and Well for 15 years. It's expensive but it has a lot of coverage for illness, accidental death benefit with savings. Gusto niya sana is insurance for critical illness (CI) lang kaso wala pa lang ganun sa Pinas halos rider and CI so kumuha na rin ng life insurance.

Hi sis, may iba't ibang insurance companies here in Ph offering a stand alone critical illness plan, with savings. Try to scout muna so she can weigh her options.

[PwedePadala]

Hi sis, may iba't ibang insurance companies here in Ph offering a stand alone critical illness plan, with savings. Try to scout muna so she can weigh her options.

Any suggestion? She decided to go for it na. But my other sibling is still looking.

[D4thAngel]

Any suggestion? She decided to go for it na. But my other sibling is still looking.

Sis, check Axa Healthmax, Lifebasix Plus and Axelerator Plus. All permanent life and critical illness insurance, may money back guarantee yan.

[ning kuting]

Any suggestion? She decided to go for it na. But my other sibling is still looking.

Hi sis, Pru Life UK has 3 stand-alone critical illness products. It's a term insurance that's renewable every year meaning you're insured as long as you pay your premium every year.  Here are the products:

1. Pru Life Care Plus: The coverage is given if the insured is diagnosed or has undergone surgery with any one of the thirty-six (36) listed critical illnesses.

2. Pru Life Care Advance Plus: 25% of the coverage is given if the insured is diagnosed or has undergone surgery with any of the ten (10) identified early stage critical illnesses. This can be availed of up to four times. Any remaining unused sum assured is paid if insured is diagnosed or has undergone surgery with any one of the thirty-six (36) listed critical illnesses in the advanced stage.

3. Pru Multiple Care Plus: The insured may file for claims up to three (3) times. Each claim is payable for 100% of the coverage, provided the illness falls in separate categories under the critical illness table, and the second or third critical illness occurs one year after the first and second critical illness claim respectively.

Hope this helps!

[AlexaAlly]

Does any of you have good medical insurance? I'm rather poor, and I have never had proper insurance. Initially, I was eligible for state medical (poor people's insurance), but now I buy the cheapest available insurance just to ensure they will not throw me away from the hospital if something happens.
I hope that by the time I'm 60, I will be eligible for Medicare supplemental insurance in Minnesota or similar insurance for old people, and they will have to take care of me. At least then, I will have more or less good medical care available. You need to be old to go to a doctor for free when it doesn't matter that much anymore.