Where to put that 10k every year?

[babythug28]

I got 2 kids and my parents would like to get an insurance for them from Manulife. I received the quotation today and the annual payment is 10k, face value is 300k, payable for 10 years.

i was thinking, baka there are other investments where they can put this amount every year na hindi sila maoobliged to pay it for 10 years pa (they are already about to reach 50 yrs old). Of course, hoping for good returns as well. ayoko naman na mag-ask for more than that amount because they still have their own investments and bills to pay pa.

me and hubby have our own life insurance and stocks. but my parents (out of love for their grandkids) are insisting to pay for some sort of investment that the kids can use in the future.

any advice will be highly appreciated mga sis TIA!

[mxherr5]

Why not have them open an ITF account and they can
invest in MF or UITF on behalf of their grand kids.

[babythug28]

^ sis do you know that term na ilalagay din yung name ng kids? hindi naman yun "beneficiaries" right?

[purplegravity]

I would suggest UITF.

[MissChievous]

They don't need to get insurance. It'll be just expensive for their age.

I agree with the other sis here. Put them in MF's or UITF's tapos they could give it to the kids. Pero I'm not really familiar on how they can be able to transfer it to your kids without you guys spending money. Estate tax, remember? Yung iba nag joint account sa UITF and MF to avoid having these legal issues pa. In case the other one dies, pwede pang i withdraw ng isa. 

Our sissies here could help you with that. Merong ibang thread na nagsasabi kung (Sorry ha, pero kelangan din itackle yung issue na to) What will happen to the UITF and MFs when the owner dies. You can check it out.

[LiveLoveInvest]

In MF like Philequity there is what we call an ITF " In trust for" account. Once your kids reach the legal ( 18 ) age these investments can be purely transferred under their name.

[ysa.belle]

try looking for the bancassurance sales execs of bpi
you can put your money under invest plus peso, for every 100,000 single payment, you are insured for 125,000 and the beneficiaries are the kids. as long as andun yung 100k mo, insured ka na and your money will earn.

[mameejhy]

@babythug28 - Why don't they get a single pay vul instead? Then, have the kids as contingent beneficiaries.

[babythug28]

thank you mga sis sa answers nyo. will try to check those one by one and masabi kay father dear yan =)

@mameejhy - baka mabigatan kasi sila for the single pay, 10k lang budget nila for the kids every year (so 20k for the two kids).  what they want is something that the kids can use for college, kahit pandagdag lang by the time comes, and mga kids na din mismo ang makaka-claim/withdraw

[Ma.Jewel_1987]

I'd go for mutual fund or uitf too, then pwedi nyo din dagdagan pag may sobra kayong money aside sa ihuhulog nila grannys

[LiveLoveInvest]

I'd put it in MF, since kids can have their own mutual fund named after them.

unlike uitf you have to be of legal age to be able to open an acct

iba ang saya kapag nakita ng bata na may nakapangalan sa kanyang investment