What's the best insurance company in the Philippines for you and why? Pt. 2

[teeyah]

Part 2 of insurance talks

Link to old thread: http://www.femalenetwork.com/girltalk/index.php/topic,179680.560.html

[ikaela]

Okay I have another question:

If I only have about 10,000 to 15,000 to spare for insurance each year, what should I get first: life insurance or health insurance?

[teeyah]

Hmm, are you employed with HMO? If yes, I'd suggest you can forego health insurance and get life insurance na. But if you're self employed or on a freelance basis, I would advice you get health insurance first kasi mas madalas mo sya gagamitin and mas nakakaubos ng money yung check ups and emergency trips to the hospital.

That's just for me ha I'm sure many other insights will come up here sa thread

[realmofadreamer]

pasubscribe muna... backread muna ako sa part 1

[lischan]

Wow  finally finished back reading and I'm having a headache  There are so many plans to choose from. I've been considering Manulife and Sunlife, but after reading the thread, Philam doesn't seem too bad either.

I've just received my quotation for Manulife and I'm looking into comparing it sa Sunlife, maybe later muna si Philam. As if ang dami kong perang pwedeng I bayad ano 

Anyway, so far parang Ms. Rain ang pwedeng matanungan dito regarding Sunlife, is she still active here? Medyo 1 month nadin walang activity ang thread na to e. Or is there someone else? Tanong tanong lang muna ako, so sana hinde makulitan 

[ayionick]

^teeyah, i just talked with a sunlife financial advisor. i really appreciate that she explained to me in the simplest way every terminologies, computations, etc. about the policy. i am still thinking on what to and where to get it though, and i am still budgeting my expenses this month.

i just noticed that most of the policies in sunlife are combination of insurance + investment. my advisor gave me something with the name VUL. what's the difference with the policy endorsed by Piolo?

[teeyah]

It would really depend on an individual's needs and budget.

The VUL policy is often recommended for those individuals who have needs such as protection and savings since it can answer both. VUL policies are also more affordable than traditional insurance policies.

For those who have bigger budgets to spare, a trad life policy with cash benefits are recommended. Those would provide guaranteed living benefits but would cost more than the VUL policies.

Now if the need is purely protection, then there are policies that would solely answer those such as term policies and whole life policies.

It would all really depend on a person's particular financial need and lifestage. When meeting with an advisor, be very specific and clear with your financial goals, time horizon and budget. I'm sure your Sun Life financial advisor can very well present you with product options suitable for your current financial circumstances.

The product Piolo endorses are for those who would want to get started on getting a life insurance coverage for themselves but have a limited budget.

For as low as P500 a month, Sun StartUp covers them for P200,000 for 10 years and provides a cash benefit equivalent to 50% of the premiums paid at the end of the coverage period. This cash benefit can then help them avail of a policy that provides for longer coverage such as traditional or VUL policies.

Good luck!

[ms.rain]

ayionick: i'll try to answer how come VUL ang mostly sinusuggest now. one is because it's something new. it has an investment component and if you're an employee and you only have savings, this is a good option to have. another reason would be it's relatively cheaper than getting traditional policies too. and ang medyo reason ko for offering it to GTers would be - it can be paid monthly (after the first quarterly payment). with traditional policies kasi, walang monthly and if you don't pay in annual mode, there is a corresponding interest. well, you can pay in advance pero rare ang may gustong magbayad in advance naman. so there! those are mostly the reasons why VUL is more recommended over the others. but again, case to case basis pa rin kung ano dapat kunin. kung takot talaga totally sa risk, ayaw ng investment etc, hindi dapat pinipilit ang VUL. go for traditional policies pa rin. hope this helps!

teeyah: you sure ayaw mong mag-agent? if you change your mind... sa amin ka nalang ha. hahaha!

[ms.rain]

Wow  finally finished back reading and I'm having a headache  There are so many plans to choose from. I've been considering Manulife and Sunlife, but after reading the thread, Philam doesn't seem too bad either.

I've just received my quotation for Manulife and I'm looking into comparing it sa Sunlife, maybe later muna si Philam. As if ang dami kong perang pwedeng I bayad ano 

Anyway, so far parang Ms. Rain ang pwedeng matanungan dito regarding Sunlife, is she still active here? Medyo 1 month nadin walang activity ang thread na to e. Or is there someone else? Tanong tanong lang muna ako, so sana hinde makulitan 

yup, im still active. active sa sunlife. not so active sa GT na though... LOL. you can shoot me an email if you have any question. and sis, i will tell you honestly - whether you get Sun Life, Philam Life, Pru Life, Manulife.... they are all almost the same lang naman. what one company has, the other has too. different product name lang and siguro super kunting tweeks lang. just let the advisor know your requirements (ex. priority is critical illness OR priority is for retirement), your budget etc. and he/she should be able to come up with something really suited for you. hope this helps!

[juicy]

yung sa cousin ko, i dont know what kind of insurance yung sa kanya.

basta pagka 18 nya, may nakuha syang milyones from that insurance. 

swerte diba, samantalang si lolo ko nagbabayad nung insurance na yun before... favorite apo. 

[smartstarter]

Okay I have another question:

If I only have about 10,000 to 15,000 to spare for insurance each year, what should I get first: life insurance or health insurance?

may mga insurance kasi na kasama ang hospital income benefit.

[poshgurl]

i dunno if this is OT, but pwede bang gamitin ang Philhealth and other health insurance like Maxicare / Medicard? And alin ang mas ok? For family health insurance, maxicare o medicard? thanks!

[cosm!c_ch!c]

Okay I have another question:

If I only have about 10,000 to 15,000 to spare for insurance each year, what should I get first: life insurance or health insurance?

I suggest you get life insurance with health income benefit. Para at the same time nakapag invest ka na din for you and your family's future.

[ishopnowfeelguiltylater]

^pwede nga to, parang part lang siya ng life insurance mo.

para sakin the best ang Sun Life, and ang VUL. Sun kasi ganda ng campaign nila eh (not Piolo, but the message it conveys). VUL kasi disposable income ko naman to eh kaya di ako nanghihinayang ng pera. just like any other form of investment, ang insurance dapat di ka magexpect ng sobra talaga. involved din ang risk pa rin.

naisip ko after ko mabayaran ang insurance, feeling ko dapat pagplanuhan ko na ang susunod kong financial plans kesa naman mapunta lang sa cashier ng malls ang pera ko.

[teeyah]

I suggest you get life insurance with health income benefit. Para at the same time nakapag invest ka na din for you and your family's future.

I think I'll reco the same. Since uso sakit, add ako ng critical illness rider para just in case.

[juicy]

I've actually come across an Insurance that brings together the features of an HMO, Health Savings Plan, and a financial investment.

Indeed a very innovative program.

It's a healthcare coverage, savings, emergency fund, and insurance rolled into one.

5 years to pay sya, tapos within the 5yr period na hindi mo nagamit yung coverage, may Return of Premiums scheme sya.

So like me na may healthcard coverage sa company, if I need any medical assistance, ang gagamitin ko is yung sa company healthcard ko. In that way hindi nagagalaw yung binabayaran kong own insurance ko, nag-aaccumulate yung investment ko with them. 

[ning kuting]

^ Ano yan sis? 

[singidsnoel]

Okay I have another question:

If I only have about 10,000 to 15,000 to spare for insurance each year, what should I get first: life insurance or health insurance?

If your really masakitin get the HMO. Otherwise, get a life and critical illness hybrid insurance like Manulife's Eve. Insurance + critical illness rider tend to be a bit more expensive for the same face amount.

[anziaski]

Pioneer ang life insurance namin.
Fully paid na sya, 5 yrs.
When we needed emergency money, nakapagloan kami with them.

[heavensent]

sisses, I'm a freelancer and I want to have a health insurance, ano yung pinaka ok sa budget?