Educational Plans, practical pa ba?

[chubbycheeks]

Oct pa lalabas yun baby ko but I'm already looking at my options. I want a plan na parang educ plan na i pay a certain amount for 5 yrs and will mature in his 18th year. Or yun sa generali ata 8 years babayaran and you will get an amount as early as 2 yrs. Then dapat may life insurance na kasama. Any suggestions?

[mameejhy]

^Sis, I suggest Sunlife Maxi Bright. Payable in 5yrs sya. May life insurance na kasama.

[mommyysa]

Hi sissies, I suggest you get AXA Philippines products.

Meron payable in 5 years for as low as 50/day then you will get yearly a certain amount for 5 years. May bright rider na ito naka attach na whatever happens sa payor, still makukuha ng bata yung amount kahit hindi natapos yung 5 years.

Meron din payable in 5 years, may insurance na rin then you will also receive certain amount for 4 years plus nag aaccumulate pa ng dividends, coverage 100 years, may payor's clause din na kung may nangyari sa payor, still, kahit hindi tapos ang payment, makukuha at makukuha ng beneficiary and nung insured.

AXA Pala dominates Variable or investment link products in the Philippines. Kasi 30% of the market share ay from AXA. Reamaining 70% pinaghahati-hatian na ng mga companies. Kaya kung return of investment ang pinaguusapan, mataas kay axa. Also, AXA is on the top 16 among 500 largest companies in the world. Kaya makakasiguro ka.

Yes, actually not only practical ang kumuha ng educational plan or anything na magse-secure ng future mo. We will never know what will happen, at least, handa tayo.

[chubbycheeks]

^ and ^^ thanks for the suggestions. I'll look into this. Dapat magsimula ako at 0 age daw ng baby. So i guess may 1 yr for me to review mga options. Hopefully, I'll be able to pick the right one.

[mameejhy]

Imo, sis mommyysa refers to an endowment type of plan - which is the most expensive kind!

[feeling_audrey]

Hi mga sis!

I'll be having na my first child this month. Although matagal pa naman bago magcollege baby ko, pinag-uusapan na namin ng hubby ko what to get for my baby para sa college niya kasi sabi ng isa kong relative na may educational/insurance plan para sa anak niya, mas mura daw kapag bata mo pa kinuhanan ng educational plan ang anak mo. I don't have much knowledge about sa mga ganto. Base sa nabasa ko, may insurance na pala na parang educational plan na rin? anyone of you na meron na na gantong plan (san insurance company kayo kumuha, pano terms of payment, how much makukuha ng anak ko pag nasa college na anak ko)?

Thanks mga sis!

[mameejhy]

Sis feeling_audrey, I can suggest get a plan from Sunlife, Philamlife or Prulife. They have lots of life insurance geared for education products. It depends on your financial budget and payment terms.

http://www.sunlife.com.ph/philippines/Products+and+Services/Variable+life+insurance/Plans?vgnLocale=en_CA

Sun MaxiLink Bright
Sun MaxiLink Bright is a peso denominated variable life insurance plan that provides financial protection PLUS a potential source of savings. It enhances your money's growth potential to fund future needs like education through its investment earnings. There are 5 funds to choose from where your premium payments will be invested in. These funds are managed actively and prudently by our top-notch investment professionals. Sun MaxiLink Bright is payable for at least 5 years*

http://www.philamlife.com/en/individuals/products-and-services/education/

1. Bright Future Invest
2. Bright Future Plus

http://www.prulifeuk.com.ph/corp/prudential_en_ph/solutions/saveandprotect/PruLink_Exact_Protector.html

[Pretty Heather]

Hello there! I got mine from Insular Life. They have this educational plan with life insurance that gives guaranteed and fixed yung benefit ng fund na pang college. Actually fully paid na ako with them and I'm using the plan now for my son's tuition fee through a loan from  that policy. I got in 2003. My son is Grade 5 now and been paying his tuition in full because of that plan. Insured pa siya. I think mas ok to because fixed  nga yung college fund. Insular will give me the exact amount (plus dividends daw pag maganda ang performance ng company nila) written in the contract when my son reach his 17th birthday. I know di pa siya college at that time gawa ng K-12 ngayon pero at least we have a start-up fund na for his college. Check niyo mga sisters, College Provider name ng plan. I think it is in their website

[feeling_audrey]

Thanks sis mameejhy sa suggestions! Nagresearch ako about sa variable life insurance... hindi pala 'to guaranteed? Medyo natatakot lang ako baka may chance na maliit makuha ko para sa college ng baby ko.. preferred ko sana yung sure na amount na makukuha ko

[feeling_audrey]

Hi sis prettyheather! Mukang okay yung educ plan na nakuha mo how much naman makukuha ng anak ko when she reach age 17? And another question, okay ba sa Insular?

I'll check their website. Thank you din sa suggestion!

[mameejhy]

^Oh mas preferred ko ang vul kasi may chance na mataas ang return kesa sa "guaranteed". The guaranteed plan may/ will not beat inflation.

[sima]

I got educational plans for my kids when they were 0 age.  Yung panganay ko nakuha ko yung GSIS educational plan nila.  Maganda siya kasi ang panghatak nila NOONG UNA ay 100% tuition fee refund regardless of inflation.  I guess marami ang na-engganyo dito lalo na sa mga nasa government service.  Pero noong nagkaroon na ng problema itong GSIS sa kanilang educational scheme, hindi na siya 100%!  Ang daya di ba?!!!!  So ngayon na college na ang panganay ko at hinahabol ko yung nakasulat sa contract ng GSIS na 100% eh hindi na ito masagot ng mga taga-GSIS.  Kainis di ba?!!!!  I guess marami din ang nagreklamo tungkol dito pero wala rin - napunta din sa hangin yung mga complaints kasi kahit na mass action eh hindi na pinanindigan ng GSIS yung kanilang kontrata.

Doon naman sa aking bunso, since nawala na yung GSIS Educational Plan, Prudentialife naman.  Hindi ko pa siya nata-try kasi hindi pa naman siya college.  Malamang ganoon din ang payment scheme -- reimbursement.

May nakapagsabi sa akin na hindi naman na daw practical na kumuha ng educational plan dahil kung iinvest mo din ang same amount of what you are paying now sa bangko eh ganoon din ang makukuha mo when it has reached the "maturity age".  In hindsight, parang what he/she said makes sense to me.  Kasi kung these companies naman would renege on their contracts at wala namang habol yung insurance payer eh para que pa di ba?

[feeling_audrey]

Sis @mameejhy, how sure kaya na malaki talaga makukuha mo kapag vul plans? naisip ko baka may chance pa malugi? Nabasa ko sa isang post dito na yung boss daw niya kumuha ng educ plan na may life insurance din para sa anak niya nung 2 months pa yung anak niya. Now na college na anak niya, helpful talaga yung money na narereceive nila (may certain amount silang natatanggap in a year na guaranteed) although yung cash na natatanggap from the educ plan eh mas maliit kesa sa tuition,
Ang dinadagdag lang nung boss niya daw for the tuition is nasa 20k in a year.not bad

[mameejhy]

^Sis, ilan percent yun "guaranteed" na nakita mo? Usually, 4% lang.

Pag sa vul, same as uitf and mf, usually 8% ang minimum na return.

[ayrise]

mukhang okay nga yung VUL for your child's education kasi i was thinking to put my daughters college fund in UITF kaso what if kunin na ako ni lord *knock on wood* after one year of saving in UITF?  then ang makukuha lang na money ng anak ko yung nasa UITF mismo .. itong VUL lalabas yung Death Benefit mo.

Like the example in this Website that i searched sa Sun Maxilink Bright (example 1 - Juan Dela Cruz) the beneficiaries will receive 1 Million Php (paying 90k for 5 years then total investment of 450k which can possibly grow up to 8%)

for more information check this website:
http://insuranceph.info/sun-maxilink-bright-vul-for-education/

[feeling_audrey]

^sis mameejhy. Yup, nasa 4%. Okay na sakin yun kasi i prefer guaranteed talaga. Hindi ko kasi kaya i-risk ang education ng baby ko.

[mameejhy]

^That is the problem, due to inflation eh magiging walang silbi sa future yun 4% return - "Philippines annual inflation rate was recorded at 4.9 percent in August of 2014, xxx."

http://www.tradingeconomics.com/philippines/inflation-cpi

[gorgeouschef]

Manulife has a great offer on this, it's called SmartMinds. It's payable in 5 years, 10 years or you may choose the regular payment option.

Guaranteed Tuition fund
Guranteed Education Allowance -(additional support for child's education related expense)
Guaranteed Graduation Gift- monetary gift kay baby after graduation
Guaranteed life insurance protection - for the child up to the age of 25
Guaranteed Protection for the Payor (parents) and contingency fund- in case of payor's disability or death during the payment period
Guaranteed Cash Values - which can be borrowed in case of financial emergency needs

Lastly, kapag 25 na si baby, they may convert their policy to a traditional policy na (so hindi na siya educational plan). Tapus na yung educational plan niya but they can convert it na if they opt to.

[mommyysa]

Hi sissies,
I'll be able to help you find solutions to your needs especially sa educational plan ng baby nyo. I myself dumaan din ako dito, Im a financial advisor from with AXA Philippines. Syempre hindi naman porket dun ako work, dun na ako kukuha. Hindi ko alam ang available products ng ibang insurance companies. I still seek help from other financial advisors ng ibang insurance company and I weigh options.
Sa huli, I still find AXA solutions more realistic and valuable.
AXA owns 30% market share in the philippines aside from AXA Global being the top 16 among 500 largest company in the world from FORBES.

Kung high return of investment lang ang usapan, or yung variable na tinatawag, Hari ang AXA dyan.

We also have guaranteed return na di hamak eh mataas ang makukuha mo compared to banks.

You can secure your child's future, guaranteed for only 50php a day.

And yes, to answer the subject, hindi lang practical and pagkuha ng educational plan, it is one of the TOPMOST priority kasama ng health, income protection and retirement sa pag secure ng future natin o ng mga anak natin.

Tama ang isang sis natin dito, paano pag nawala sya next year, hindi natin masasabi. Ang mga nawala ba, alam nilang lahat na mawawala sila? Life is full of surprises, kaya mas mabuti ng handa tayo.

Btw, nabasa ko rin regarding sa inflation, totoo yan, bumabababa ang halaga na meron tayo ngayon compared dati. Naabutan ko pa ang pamasahe sa jeep 2.50, ngayon 8.50 na. AXA has a solution for inflation. :-)

[Drew82]

Hi guys! Just want to share with you that my cousin na kumuha ng Sure Cash for Kids from Insular Life, 5 years ago, just received the yearly cash allowance na 10% ng plan na kinuha nya. Ang in-avail cousin ko yung P200,000 na plan. Nakuha nya yung first P20,000 last April lang. Nakakatuwa kasi hindi na sila naghintay nang matagal, naka-receive agad ng allowance! Nagamit pa nya sa enrollment ng nephew ko sa pre-school. Not bad diba? Every year na daw sya makaka-receive ng P20,000 for 10 years. Tapos kapag nag 15 years old na nephew ko, makakakuha pa sila ng additional P200,000 na benefit. Kinuha nya kasi yung plan when my nephew's just 10 months old.
Nag-try ako last month na kumuha rin sana for my daughter pero nakita ko hindi na pala sya available. Pero napalitan sya ng isang product na same lang ang benefits. You might want to check it out.

http://insularlife.com.ph/products-services/for-individuals-and-families/savings/sure-cash-one-pay.html