Bank Account ni Baby.

[pinkpotato]

under one roof lang ba ang manulife and sunlife?

[marose17]

^^ I think 5 years.

^ Haps, magkaibang companies ang Manulife and Sun Life.  Pareho naman silang okay at mataas ang capitalization.  Matagal na sila sa business.

[pinkpotato]

i think both have their plus point against each other. i suggest you talk to one of their agents, inquire about the same insurance policy then you do the comparison at home.

[clueless]

my husband has a sunlife flexi-link and this is what we want to get for our child din sana once she's born. but the sunlife agent we talked to said may ibang options pa daw. he gave me a teaser graph that shows estimated tuition fee increases every 5 years so it gave me a rough idea of how much my child's college education will cost in the future. we're meeting with him again next week to discuss more about the options we have for our child and to see also if mas ok sila than flexi-link.

i also recommend that you talk to a full-time agent, and one you know and trust para lahat ma-explain sayo. our sunlife agent is the brother of my husband's best friend and both their parents were sunlife agents din but now retired. iba ang asikaso at explanation niya to my husband compared to my manulife agent who i only got to know about based on referrals. hindi ko maintindihan masyado yung policies ko sa manulife kasi hindi masyadong thorough explanation sakin and bata pa ako nung kinuha ko yung mga yon.

[marose17]

If I were to get one, what could you recommend, Sun life or Manulife? Thanks!

I got policies from both companies kasi.  Similar naman ang features nila.

For me kasi, ayoko na sa iisang company or bank lang nakalagay lahat ng investments kaya I got from both.

Both my agents in Sun Life and Manulife are full-time, career agents.  Ayoko talaga ng part-time agents, nawawala kasi ang mga yun after a few years.  Mas alaga ang client kapag full-time agent ang may hawak.

@clueless, check mo yung Maxi-Link, it's an upgraded version of Flexi-Link.  May endowment policies din ang Sun Life nakita ko sa website nila.

[clueless]

^ oo nga. will ask my agent din about maxi-link.

i considered a trust account din but since hindi nga covered ng PDIC, we're going for a safer option.

my cousin got dollar investments from ayala yata for his 2 kids when they were young, maybe early elementary age. the kids are now 22 and 18 years old and already have millions in investments! dahil dito, nae-engganyo din ako mag-invest pero hindi ko siguro kaya kumuha pa ng dollar investments. peso lang muna for now.

[pinkpotato]

^ i like that news! kuha na din tayo! LOL

[marose17]

^ Your funds will be invested in equities and bonds.  You do not have to pay premiums na but your money is earning na rin.  In the meantime, you have insurance coverage and your premium is earning dividends (since Sun Life is a mutual company).

Based on my understanding, you will get the face value (or the "principal") in year 15, plus the earnings of the fund.  For example, at year 15, you will be entitled to Php500,000 + dividends or earnings of the investment.  The performance of Sun Life's funds (in which a portion of the premiums are invested) are generally higher than the interest rate of regular savings accounts in banks.  Depending on the stock and bond market, it can go as high as 18% per annum.

At any given time, you are given a summary of how much from the premium was invested in insurance, how much went to investments, etc. 

The agents have a projected income outlook for your fund.  This projection is based on how much the fund performed in the past year, past 5 years on average.  I really suggest you consult an agent kasi mas ma-e-explain niya sa iyo yan.

If your goal is for long-term investment (say, for a college fund for your child), the Flexi-Link and Maxi-Link is a good idea.  Now, if you want a more liquid option (where you can easily withdraw in times of emergency), I suggest a regular savings account or a time deposit account.

[stormy]

Maxilink yung sa daughter ko 23k+/annum for 10yrs. Kami naman ni hubby parehas flexilink.

[marose17]

^ oo nga. will ask my agent din about maxi-link.

i considered a trust account din but since hindi nga covered ng PDIC, we're going for a safer option.

Speaking of trust accounts, ang advantage na nakikita ko diyan is that if your beneficiary is designated as an irrevocable beneficiary, hindi kasama sa computation ng estate ng parents ang fund na nasa trust account.  Walang estate tax, in other words.

Same for life insurance, if your beneficiary is designated as irrevocable, hindi rin mata-tax.

Ang fund sa bangko, kasama sa computation ng estate at kung naka-joint account, hindi mawi-withdraw basta-basta from the bank until you show proof that the estate tax of the account holder has been settled.

[pinkpotato]

^ tsk tsk. ay ayaw ko na pala nyan rose, di ko na maintindihan. haha.

[clueless]

^ nyahaha. oo nga, yugn mga iniisip ko hindi pa umaabot don.

^^ but since you mentioned it na rin, so in that sense, better to make your beneficiaries irrevocable pala. kasi i changed my beneficiaries when i got married but they're still revocable now. i will change again when i give birth and add my child. but maybe i will make the list lang irrevocable later on pag wala na akong plano magdagdag ng anak?

[marose17]

^ Oh, based on my understanding, once you've changed a beneficiary, the policy loses its irrevocability.  From the start, dapat irrevocable na ang designation of the beneficiary in order to get the tax exemption.
But let me check the BIR rulings ha.

If you designate a minor, the proceeds of the policy will not automatically go to the minor in case of death or permanent disability.  It will go to the parent or legal guardian of such minor if minor pa siya when the event happens.  Kung adult na siya when the event happens, derecho na sa kanya ang proceeds.

[pinkpotato]

question, may minimun monthly payment required ba ang mga savings insurance?

Here kasi sa Sg, napansin ko when they give graphical examples, they start from 300++ monthly (9-10k pesos) pero if you want smaller okay  naman kaya lang iiba na ang mukha ng singapore insurance agent. asar!

does sunlife or manulife requires amount higher than 500 for this type of premium? (premium nga ba tawag dito? hehe )

[marose17]

^ Yes, the term is fixed.  What is not guaranteed is the yield rate because it varies depending on how the market is performing.  Unlike sa bank account, fixed ang interest rate.

Sa Maxi-Link, 10 years ang premium payment period. 

I suggest you set an appointment with an agent.  Mas maliwanag kasi ang explanation nila.  Yung explanation ko dito sa GT, short-cut na, baka may na-miss akong detail.  But basically, that's how I understand it.

[hunny_ally]

haps, in sunlife if i remember correctly they call it shares. per share, there's a peso value for it. if mas madami kang bibilhin na shares, then mas malaki ang yield at the end of the maturity period

when hubby talked to the agent before, he told her at the end of the period, he wants to earn x amount. then based on this, the agent gave us the minimum initial investment to get that amount after several years. others do it the other way around. they'll say, i'm willing to make PhpXX contribution anually/semi-anually/quarterly/monthly. given this, how much do i earn after the maturity period?

baka the $300 quoted to you by the agent was the usual amount most people invest in savings insurance

[marose17]

My tip lang when dealing with an agent is not to be pressured into signing right away or getting a higher valued policy na mataas din ang premium.  Go for what you can afford in the meantime.  You can always upgrade by getting a higher valued policy later.

[clueless]

^ thanks for the clarification. ever since kasi my policies have revocable benficiaries kasi ang explanation lang naman non is make them revocable para you can change. and i was single pa when i got them. the effect on the estate was not explained to me. i'm thinking of getting another policy for me maybe in a couple of years and will probably go with sun life na din. siguro then, i will consider this.

about the beneficiary being a minor, i was told din nga that the proceeds will be given to the parent or legal guardian. my question was can it be put into a trust account of some sort na lang for the minor? hindi ako nasagot eh.

i was thinking kasi for my group life insurance sa office, parang this is a good option, if i name my child as beneficiary pero in the event of, mapunta sa investment or trust account. but the policies i got for myself, iwan ko with my husband as beneficiary.

pwede siguro yon pero sa will & testament na siguro ilalagay? super OT na yan. will leave that for another discussion later on.

[betty]

you can discuss it here:
http://www.femalenetwork.com/girltalk/index.php/topic,215746.0.html

[stormy]

@hapi, sis sa maxi link aside sa  premium pwede ka naman yata maghulog ng extra pa para dun mapunta sa "investment" portion. Tama sabi ni marose, magsimula sa amt na kaya lang para mapangatawanan na tapusin. Pwedeng pwede naman itaas yung value or kumuha pa ulit ng isa pa na plan PERO dedepende yan kung wala magbabago sa kundisyon ng kalusugan nung parent.

Kami kasi ni mister medyo may edad na kaya kumuha agad, masuswerte yung bata2x pa may anak na at nagpaplano na dahil d pa lalabas mga sakit2x so siguradong aprubado