Educational Plans, practical pa ba?

[showermist]

it is wise to invest in education fund (i didn't say plan ha). there are lots of investment vehicles out there.

[betty]

billy, thas under insular life? mahal din mothly ha. yun nga lang iisipn mo you will get your money back and yet still insured...does the insurance also lapse after the 15th year?

[billy]

^yes, insular life. this is not their education fund (they have 2 education products), Sure Cash is more of a savings plan for kids that can also address education needs.

actually not lapse but will "mature" after 15 years.

[betty]

haha coated naman masyado ang word na mature.

[17arci]

I didn't get any money one year worth of tuition from CAP, so, I guess not.

[billy]

^^no, sis, in insurance, yung "lapse" happens when you fail to pay premiums. to mature or maturity is pag tapos na yung protection period or coverage ng policy

[kaiz]

I didn't get edu plan for my son and I never had plans to get one. My bro and I never had educ plans din. Sabi kasi ng dad ko, sayang daw if ayaw naman mag aral pagdating ng panahon. True enough, my bro ayaw talagang mag aral. Til 2nd year college lang. And naka 3 schools na yun ha. Ayaw talaga. Kaya sabi ni papa buti nalang daw hindi siya kumuha. Now with my son, i'm not saying naman na i'm anticipating na hindi siya magtatapos, I'd rather invest sa ibang investments rather than invest sa educational plans.
By the way, since i refused to get one for my son, my mother in law ayaw papigil. Talagang kumuha for my son. Hehe

[billy]

Educ funds today naman are flexible, not payable to the college or university but to you or to the policy owner. So nasa iyo na yun kung saan gagamitin. Yung sa daughter ko, we got the funds from her 2nd policy but we're using it for her debut.

[anonymous09]

anonymous09, Philam yan?

COCOLIFE future savings PLATINUM

[a_y_e_n]

parents ko got me an educational plan which i was able to use naman. pero yung sa iba kong kamag-anak, dahil ang younger yung mga anak nila, affected sila nung nagsarado yung maraming insurance company kaya masayang lang yung pinag-ipunan nila. personality, i don't believe sa mga plans or insurance. i'll never invest my money with them.

[maye2k]

I don't find it secure and practical to get educ plans for my kids now a days. I'd rather open a bank account for them and little by little save some. I know if I'll save regularly no matter how small it would be the amount, it will eventually turn useful in the future.

Noticeably, these institutions turned out falsely promising to its investors and market. Too obvious with all the controversies they get involved in years way back.

[anonymous09]

Moms,

thanks for posting your feedbacks and i really appreciate it.. experience is really the best teacher!


as of now i still haven't decided whether to purch one or not... ive gotten replies from Manulife, Cocolife, Axa, Sunlife, Generali Pilipinas, Philam life..

Those are the top companies here in the country according to statistics.

[maye2k]

thanks sis teeyah for the inputs I appreciate it. Yet, I don't still find it secured, It's still like risk today and regulation tomorrow. Nevertheless  in someway, a certain idea came across and it helped. Maybe a prospect like me is just too vigilant now because of what happened before, it can not change overnight by a certain amendment of law. Normal pa rin talaga siguro yung mga uncertainties na maaring maramdaman ng tao tulad ko.

Perhaps I might consider the idea of seeking advices from an expert.

[Mommy Lou]

Hi Mommies,

A trusted and record of strong balance sheets like Manulife, PhilAm, Sunlife are very good.  We also have one...

Mommy Lou

[imnuttz]

practical naman sya kung practical, kaya lang i didnt get one for my daughter. kasagsagan kasi nung issue sa CAP nung dapat kukuhanan ko sya yun natakot ako. makakaraos din kahit walang educ. plan anak ko.

[maye2k]

practical naman sya kung practical, kaya lang i didnt get one for my daughter. kasagsagan kasi nung issue sa CAP nung dapat kukuhanan ko sya yun natakot ako. makakaraos din kahit walang educ. plan anak ko.

I so agree with you sis, with all the crisis now a days, we can't be so sure if our money invested are safe. Sino ba namang may akala na mangyari yon before dba? Pehaps, these financial institutions have made some changes and better strategies to safeguard our money, but the thing is "what if meron na namang ibang reason para ma compromise investment ng tao dba"? Mahirap na we knew na the money invested for this kind of investment is a "hard earned money" kaloka na masyado if mapunta na naman sa wala.

We just have to be more wise in spending (don't spend more than your earnings) and make sure we save some for our kids education and during rainy days.

Only my POV, getting back to basic like saving money at home or in a bank with good financial reputation for me is more safe. Anyway, pag sa bank insured naman yon in a certain amount. Mahirap na ipagkatiwala ang ikinabubuhay natin ngayon.

[pressany]

In my case, I bought Sunlife instead of educational plan.  That gave me more flexibility in using my fund, plus may insurance pa.

[anonymous09]

what product did u get sis?

[jhenrheign]

pinag usapan din namin yan ni hubby since magiging 2 na sila magkapatid... pero natatakot kasi ako mag invest sa educ plan lalu na kahit big companies eh nalulugi tulad ng CAP... kaya we decided to have a passbook saving account sa bank na lang at least mas safe...

[pressany]

anonymous09 - I got sun saver.  I'm done with it and was able to cash in the plan.  I used it sa tuition ng kids ko.  I'm now planning to get a new one, eto para sa retirement fund ko naman.

jhenrheign - true sis na lahat ng companies nalulugi, pati banks (Banco Filipino for instance).  The risk will always be there so better consider the earnings of your money.  Based sa experience ko, in a bank my 100k earned 250 gross per month. Di pa tinatangal yung doc stamp, tax etc.  So I decided to spread my investment (mutual fund, Sunlife and time deposit). Pinaghiwalay hiwalay ko.  Break even ako sa mutual fund ko, maliit yung time deposit but I hit it with insurance plan ko. So ok naman.