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

[m_lim]

^so ang treatment pala sa VUL is insurance lang dapat? or possible na "kumita" naman let's say after 20years?

[angelholics]

hi sis m_lim, VUL is variable universal life insurance --life insurance that builds cash value (life insurance and investment)

VUL kase part of the premium paid is invested sa pooled funds like stocks, mutual funds that are expected to grow its cash value

or possible na "kumita" naman let's say after 20years? --yes kikita yan

[m_lim]

^thanks sis..

ang bagaaaal lang talaga sobra kumita ng VUL.

yung saken 240t na nahuhulog ko pero 94t palang ang value niya ngayong 4th yr.

[PetiksPinayInvestor]

^ 94T is 39.17% of 240T. Ibig sabihin your fund value has 39.17% of all your paid premiums. In 4 yrs. Pwede na?

VUL is insurance first. The investment part is bonus.

You need to "graduate" from your VUL such that nag-iinvest din po kayo sa UITF/MF/or direct stock market

VUL can't be your sole source of investment income. It's just one of your "baskets"

[fionaapple]

^ganun pala ang pag analyze sa gains ng VUL. Thanks petikspinayinvestor.

Tama naman. Do not put your eggs in one basket-the principle of diversification. Kasi walang nakakaalam kung paano ang magiging course ng bawat investment. Isa lang ang insurance ko as of now. I have sunlife maxilink, 500k face amount at 26,840/yr. I got it when i was still single. 27 yrs old ata ako nun.ok naman kahit maliit pa lang. I plan to get another insurance later on pag mas malaki na earnings ko tsaka pag nakapagstart na ng ibang investments.

When i chose my insurance product before, i admit lazy and uneducated pa talaga ako nun as an investor pero gusto ko na kasi maumpisahan magkaroon ng insurance at gusto ko na rin agad ng investment. Ayoko naman ng mga masyadong risky like stocks investing agad. So naghanap ako ng VUL. Among 3 proposals from sunlife, manulife and ucpb, i chose sunlife kasi pinakamura yung premium for a 10 year period. Second consideration ay yung magandang standing sunlife as an insurance company, yung stability niya. My husband naman has 2 VULs, philam and Prulife. Pero di ko alam ang performance nung sa kanya kasi di siya masyadong enthusiastic sa pagcheck ng performance. Sa kanya talaga, he treats them as insurance products lang.

[ikaela]

This is important to remember: a VUL is first and foremost an insurance product. You buy it for the insurance protection. You can think of the investment portion as a way for you to save for long-term goals, for expenses that you might have in the 10, 20  or 30-year horizon.

To sis b!: kulang sa pag-explain ang agent mo at mukhang hindi mo pa naiintindihan ang VUL mo. Hindi naman goodbye na sa pera mo na binayad mo for 3 years -- pinambayad yun sa insurance mo. Meron ka pa rin naman insurance coverage in case you die/get into an accident/get hospitalized/get sick (depending on your plan) di ba? You have that peace of mind. At yung sinabi ng agent mo na "plus the fund value", makukuha mo lang yun kung mamatay/maaksidente/ma-ospital/magkasakit ka.

Your VUL policy is still new at 3 years. Since the money you pay in these early years is mostly used to pay for the insurance, your fund value is understandably still small. But give it time, give it at least up to its 7th year onwards, and your fund value will eventually grow bigger. Again, a VUL is for long-term goals.

[m_lim]

thanks sa pag explain girls!!

yep, kailangan lang talaga isipin yung Insurance part ng VUL. hindi lang kasi maiwasan icompute mo agas yung naihulog mo vs  current fund value! erase erase erase! he he!

[projectgora]

Manulife Affluence Builder policy holder here! 500K ang face amount (10 years to pay) and my monthly payment is 4,300 php. I chose Manulife kasi nasa top 5 sya in the Philippines in terms of Paid capital, Net income and Networth More than a year ko na syang binabayaran, so far satified naman ako. Hindi naman kasi ako masyadong OC sa investment part dahil bago pa lang sya. For me, maganda ang service ng Manulife kasi may online access (same with other insurance provider), monthly dumadating ang payment receipt sa home address, at merong annual statement na pinapadala sa house. Madali din mag inquire sa agent Friend ko din kasi sa FB haha.

[angel..]

This is OT, but I need some advice. I'm planning on getting an insurance but I'm an OFW. At the moment, I'm in Singapore but I'm not really sure how long I will be here. I don't see myself in Philippines naman. Do you guys think it's better if I get an insurance in Pinas? Or might as well get one that will have international coverage? TIA.

[barbeecue]

We have PruLife UK and we're very happy with them

[gerlizsamlizzy]

Hi angel, to address your inquiry first and foremost, for you to be able to get an insurance here in the Philippines, you need to be personally here. Because you will sign the documents, the financial advisor will have to see you personally for the purpose of insurability. As with your inquiry if you can still claim even if you are in abroad, we still have to verify it with the agency.

[angel..]

Hi gerlizsamlizzy, I'm aware of that. Thank you for responding but that doesn't answer my query. Medyo malayo. Anyway, I'm in touch with a financial advisor  and I will be meeting up with her when I go back in August.

[j.adore]

If your beneficiary is in the Philippines, better to get here.
I think since you're outside of the country most of the time you will definitely need international coverage? Haven't researched on this since we're based here.

[angel..]

^Your comment on the beneficiaries make sense, thanks for the advice. I'm planning on signing an insurance there. And I'll probably get another one siguro dito na rin sa Singapre basta international coverage. But I still need to do more research on that.

[ikaela]

I recently had to deal with insurance death claims.

I have had a change of heart about Philam Life. How horrible my experience was in getting a policy from them is how wonderful my after-sales experience is. They are not strict with their requirements. Documents can be simply xeroxed and not certified true copies or notarized like in other insurance companies. The agent whom I decided to transfer to is a dream to deal with -- he simply took the papers after I completed them, and said the three words that I like hearing the most: "ako na bahala". After about a week, ayan na yung cheque. The quickest, most straight-forward, and most painless claim I did. 10/10 would buy from Philam Life again.

I also highly recommend PRU Life UK for the simple fact that their agents seem to have the best training. Personal service kung sa personal service -- pupuntahan ka sa bahay, sa ospital, at pati yung bahay nung doktor kung gusto mo! But PRU's underwriting process is much stricter, so my claim took much, much, much longer.

Sun Life, I have yet to see. I love our new agent though, she is perfect for us.

I now see the value of choosing the right insurance agent. I'm the type kasi who likes simple, direct, and straightforward service -- wala na buddy-buddying and getting-to-know-yous. But having the right agent is a great asset when it comes to insurance claims.

[j.adore]

Thanks for sharing! We have Philam and SUN Life. It's nice to hear about an actual experience because this is what our Philam agent said as well -- claiming is easy.

[salvelubiano]

If we are talking about how long the company had been established and serving the people, it would be sun life I guess. But choosing the right insurance for you will depend on your needs, plus getting the right financial advisor. Sometimes, financial advisor is the reason why you stay in a certain insurance company. It would be a hassle on your part if you want to inquire or know something about your policy and yet the financial advisor is out of reach. Just my 2 cents of advice.

[clueless_bride]

Hi mga sis. I don't know where to post my question so ditto ko na lang ilagay.

Here's my dilemma... I am an OFW, last year a friend of mine invited me to her son's birthday and there I met her kababata who was in town to visit. To make it short, her kababata is a FA from one of the insurance companies in Philippines. She had a talk/mini seminar after the party para sa mga guests telling us about their products. In short, kumuha kami ni hubby ng life insurance. marami rami din ang nag commit since maganda naman yung product and to be honest magaling naman siya sumagot sa mga queries namin and we learned lagi siyang nasa top FA annually...

My question is - VALID ba yung insurance na pinirmihan namin? I've read some articles that an insurance signed abroad is VOID. nakaka one year payment na kami. I asked her about it just the other day, she said valid daw yung policy basta in-force. and signed in Philippines naman daw nakalagay dun sa documents. Siya nag fill up nung documents and nag sign lang kami so I guess she wrote down Philippines dun sa place.

I am not sure what to do. Pag inistop ko yun payment edi parang binigay ko na lang yung 1 year na binayad ko. plus nag top up pala ako last month huhuhu.
Makakarefund pa ba ko? Pag nag file na ko ng report sa company matatanggalan ba siya ng lisensha? ayaw ko naman mangyari sa kanya un. I just want to know kung VOID ba o VALID yung policy namin mag asawa. Baka after 10 year pag tapos namin magbayad wala pala kami makiclaim. ouch!!!

[rasee16]

^san ka ba talaga pumirma sis? Dito dapat sa pinas. Depende sa company kung mausisa sa claims eh lalo na if within the contestability period nagfile ng claim. Baka silipin passport mo since mukhang foreign resident ka. Unethical ginawa ni FA mo at pwede sya matanggalan ng lisensya. Invalid yung policy mo if abroad pinirmahan. Fraudulent act kasi if sinulat na Philippines pero di talaga dito ang transaction.

[clueless_bride]

I signed here abroad. That's my concern, pano kung icheck yung passport ko at maverify nila na yung time na pumirma ako eh wala naman ako sa pinas. My FA said basta lagpas na ng 2 year contestability, no questions asked na daw yung company kung mag claim man kami. I don't know what to do, kasi pag nag file ako ng report she might lost her job, eh ayoko naman mangyari sa kanya yun. Gusto ko naman ituloy yung insurance na kinuha naming mag asawa, pero shempre gusto lang namin makasigurado na valid siya.

^san ka ba talaga pumirma sis? Dito dapat sa pinas. Depende sa company kung mausisa sa claims eh lalo na if within the contestability period nagfile ng claim. Baka silipin passport mo since mukhang foreign resident ka. Unethical ginawa ni FA mo at pwede sya matanggalan ng lisensya. Invalid yung policy mo if abroad pinirmahan. Fraudulent act kasi if sinulat na Philippines pero di talaga dito ang transaction.