Educational Plans, practical pa ba?

[SakuraBride]

For me hinde practical ang Educ Plan. Mas okay saken ang Life Insurance. Yung purely protection lalo na pag super bata pa ng anak. Kase kung ano man mangyari sayo sure na may makukuha anak mo agad agad at hinde sya yung ulilang walang wala. Pag Educ plan kase maghihintay pa sya gang 16yo sya bago nya makuha.

Pero okay din naman sya to secure yung college education nya.

[simple_elegance]

IMHO life insurance is another option to save up for our kids education. I opted for a VUL which not only offers life insurance and gives medical benefits if I get sick but also offers a cash value that grows that I can opt to use for my kids education. Whats good with this plan is that if I want to get my money, I can do so anytime. Its also works as a forced savings that is out of my reach, so hindi ko siya magagalaw just like that, not unlike a savings account in a bank.

[robinemz]

same as @simpel_elegance. we got VULs instead of educational plans for our two girls too

[SakuraBride]

^ ano po yung VUL? and what company po? Ang nakuha ko kase Life Insurance sa Manulife.

[babytintin]

VUL stands for Variable Universal Life Insurance. It's an insurance plan that's linked to an investment fund (like mutual funds), what's great about this type of insurance is that you get to accumulate and grow an investment fund over time which can be used for your kids education, while being insured - thus securing your kids' future.  I got mine from Sun Life. I'm sure Manulife and other companies offer this too. If anyone is interested, I know a registered financial planner RFP who may recommend a VUL plan or other investment vehicles that you may use as an educ plan..

[marssie]

Kami naman,since di ko pa talaga maconvince si hubby sa insurance thing at kumbaga e under negotiation pa namin what i do, monthly nagdedeposit ako sa bank ng anak ko for his education. As in ang purpose lang ng account na yun is for his education. 

Hubby's company naman pays for our son's TF, so pag natatangap namin yun kasi binibigay siya ng cash, less lang namin yung TF niya for the whole year then the remaining deretso na sa bank niya.

[Primrose]

Hi mga Sis, is Sure Cash for Kids of Insular Life ok?

[caterpillar-girl]

bumping up this thread

^Primrose, my friend got Sure Cash for Kids from Insular. She sent me her package, kasi halos pareho lang kami ng statistics. Anyway, eto yung sa kanya.

Face Amount: 1M
Annual Premium: 257,400
5th year to 14th year payout: 10% of face amount so 100,000 a year, so total of 1M
GUARANTEED LUMP SUMP on the 15th year: 100% of face amount, so another 1M
Built in insurance coverage: 1st to 3rd year: 1M
                                         4th to 15th: 2M

What do you think sises? Gusto ko rin kumuha kasi my fiance and I are getting married and we want to have kids soon. Ngayon palang pinagcacanvass na ko ni mister ng insurance kasi daw baka iphase out yung mga ok haha. Nalalakihan ako sa premium!!! Pero for 1,287,000 guaranteed payout mo is 2M.

 

[Primrose]

Hi Sis Caterpillar-girl, is this too good to be true? Kasi ang laki ng returns. My friends warned me kaya I am still undecided.

[chefron]

caterpillar-girl, so parang 5 years to pay sya.....alam mo bang pag ipasok mo yan sa mutual fund mas may chance pang mas malaki dyan makukuha nyo? yun nga lang, MF doesnt have insurance coverage. on the other hand, you can get term insurance til age 65 from insular too.

primrose, whats too good to be true about that eh binalik lang naman ng compay yung hinulog mo. kinita na nila yan sa mga binayad mo.

[babythug28]

if sunlife still have an educ plan baka kumuha din kami nun. but since wala din naman inoffer yung agent namin kumuha na lang kami ng VUL, tig-isa kami since 2 din naman anak namin. yun na hopefully gagamitin namin for their college fund. 10 years to pay, so sakto lang pag kailangan na para sa pag-aaral nila.

[charnel]

Para Sa akin Hindi practical kasi base Sa educ plan na Kinuha way back 2001 at mutual fund na Kinuha ko last 2011 mas malaki ang return Ng mf ko kaysa Sa educational plan ko.....

[Jhan]

Try AXA Philippines of Metrobank. They have affordable savings + insurance plans like  1500/month wherein you can get a guaranteed fixed amount of money on your chosen maturity year. If you prefer investments, AXA is one of the pioneer in VULs here in the Philippines.

[mameejhy]

Kami naman,since di ko pa talaga maconvince si hubby sa insurance thing at kumbaga e under negotiation pa namin what i do, monthly nagdedeposit ako sa bank ng anak ko for his education. As in ang purpose lang ng account na yun is for his education. 

Lugi kayo sa inflation kung nasa bank lang ang pera... Get atleast a uitf, if your bank is BDO or BPI.

May life insurance na ba si hubby mo? I think it is a necessity lalo na at sagot ng company nya ang tuition ng anak nyo...

[beautywhite]

^you might want to take a look at this, for comparison (this is my daughter's plan, I already got the college fund)...halos pareho lang sa Generali, especially for the bigger face amounts / plans. pag annual, parang ang laki ng return talaga compared to other payment modes.

http://www.insularlife.com.ph/products_and_services/chart/college_provider.html

How many years to pay po ang table na ito?Thanks.

[aquarius]

I got a VUL too, from Sun Life. That's for my daughter's education, while my husband also has a VUL for the upcoming babies' education naman.

We also have a separate mutual funds for different purposes, para mas malaki ang kita. We also invest in stocks. COL Financial naman yung broker namin para pwedeng mag trade online.

Hindi na ata recommended kumuha ng education plan nowadays. It's more practical to either get a VUL or invest in mutual funds.

I agree with moms here, getting a life insurance is a must lalo na sa mga pamilyadong tao.

[billy]

^^sis, College Provider is payable for 5 years

[chiena19]

I also suggest investing in MF, btw we also got Sun Life Flexi-Link plan for our daughter.

[mameejhy]

I got a VUL too, from Sun Life. That's for my daughter's education, while my husband also has a VUL for the upcoming babies' education naman.

We also have a separate mutual funds for different purposes, para mas malaki ang kita. We also invest in stocks. COL Financial naman yung broker namin para pwedeng mag trade online.

Hindi na ata recommended kumuha ng education plan nowadays. It's more practical to either get a VUL or invest in mutual funds.

I agree with moms here, getting a life insurance is a must lalo na sa mga pamilyadong tao.

Kudos to you and your family for having a sound financial plan!

[beautywhite]

^^sis, College Provider is payable for 5 years

 Thank you.