Type of Insurace for Children

[bluish_mommy]

^sis pa send din sa akin please. salamat!

[wahineee]

Hi, ladies.

I'm a licensed financial adviser for Manulife. We have Education Builder which is designed for education (read: college tuition). It works in a way na you will start it soonest and once the kid goes to college, he will be getting a particular amount every year for 4 (or 5 years, kung 5-year course) for his tuition. Amounts may vary depende din sa monthly premium na you are willing to pay. The higher the premium, the higher the amount. Ang cons lang nito is maliit yung life insurance component nya kasi the purpose of the plan is for education.

An option would be to get a Variable Life Insurance for the kid. Since it has an investment component, the fund value can be used to pay for tuition.

Anyone na interested, PM me. I'll be happy to discuss or make a quotation.

[marcee7]

thank you sis simang!

[dillybar]

same here sis. I'm interested. I sent inquiry to Insular but no response. 

^^wala namang catch, same rin allocation like their regular wealth secure offer. limited offer lang daw.

^PM ko sayo sis.

^wow mura yan! hmmm I wonder anong catch nyan.. anong funds naka allocate ang fund sis?

Hi po, baka gusto nyo itry si Pru Life UK, i can give you quotation for Term insurance and VUL po. In terms of insurance for your children, kadalasan VUL po yung kinukuha ng parents dahil sa investment side or kung naghahanap po kayo ng okay na investment din, you can opt po for mutual finds or UITFs para yung binabayaran nyo 100% napupunta sa fund nyo.

You can contact me po here (drop message)

[D4thAngel]

I have both critical illness plan and VUL for my children. I opted to separate illness from investment for the reason na mas flexible for me ang payment, and each plan would serve its purpose. Im paying P1.2k/mo for their critical illness  plan, pero lifetime coverage na yun. At least by the time na retired na kami ni husband, may coverage pa din sila nang wala na kaming binabayaran. I also put their savings under an insurance plan. We save P2.5k/mo, for 5 years, maliit lang ang insurance coverage, nasa P150k,  para maliit lang ng portion ng payments ang mapupunta sa insurance premium, since priority here is investment growth.

[weng.totz]

^sis ano pong type yun? may inoffer sa akin BDO life medyo mahal para sa akin 2500 x 10 yrs. 6 years old pa lang ang anak ko. kaya di muna ako ng commit. hanap lang muna ako ng mga 5yrs lang.

[D4thAngel]

@weng.totz, investment with insurance daw ba? If so, probably VUL.  Sa  Axa may P2.5k for 5 years sis.

[Jesseeee]

Please share what is the best type of insurance for kids?

Purpose: College fund, Investment like when they reach certain age pwede na nila gamitin to start a business or whatever they want, or wag naman sanang itulot ng Diyos pero pag nagkasakit sila.

Prulife's Prulink Exact Protector (PEP) with payment terms of 5, 7, 10 or 15 years can be your choice if your target is educational fund. So you only need to pay for a certain number of years but you are still insured up to 100 y/o as long as you retain enough fund to cover insurance charges. For my 5 y/o niece, premium of 50K annual 15 year term may grow to 1.5M in 20 years at 10% ave. growth of the stock market so parang dumoble sya. Take note that her sum assured and other benefits around 1.5M din ++.

Premiums are a bit higher though for PEP so personally, I still prefer PAAPlus because of low premium and great coverage. With VUL naman you can withdraw your funds with zero charges after year 6 so halos same lang.