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

[bluish_mommy]

I signed here abroad.

Uy! Bawal ito alam ko ah.

[rasee16]

Clueless_bride, well bawal kasi talaga yon eh. Report mo na kaysa naman magkaron pa ng problema dyan sa policy mo tapos bayad ka ng bayad. If she loses her job, it's her fault din naman eh. Bakit kailangan manloko at mang-peke ng documents?

[clueless_bride]

^yup sis. baka ayaw niya na din ako iassist after ko mag file ng report so I am not expecting much from her pag naregularize na yung docs. that's ok at maiintindihan ko naman kasi medyo uncomfortable na din for both of us. sana lang wag naman siya matanggal sa work, siguro mareprimand lang ok na,

[rei_chan]

Hi guys. Im planning to get an insurance. Just want to ask your POV on the below plan if which one is better. 

Manulife Horizons (34k/yr)
Face Amount = 500k (200% of FA or Acct Value will be received by beneficiaries if i remember it right)
Accidental DB = 1M
CIB = 500k (60 Critical Illness listed)

*planning to interchange Accidental DB and CIB if possible

Sunlife Maxilink (35k/yr)
Face Amount = 500k
Accidental DB = 500k
CIB = 1M (36 Critical Illness listed)
with Hospital Income Benefit of 1,500/day

anong tingin nyo mga sis? kung kayo, anong kukunin nyong insurance? im torn what to get kasi one of the insurance agent is a friend.

[letters_to_cleo]

I have Wealth Assure from Insular.  Insular kasi ang insurance ng father ko eversince, and so far okay naman, kaya Insular pa rin ang kinuha namin ng brother ko for our personal insurance.  VUL sya, 150k yearly, and I am on my 7th year, so 8 more years to go.  Masakit sa bulsa yung premium, pero this pushes me to save talaga.  Every start of the year, eto lagi ang target ko, to set aside money for my premium within the first half of the year so I can save for my other targets. 

[illeana]

Naku i hate to be the bringer of bad news but yes, bawal yung ginawa ng FA mo sis. Dapat kasi sa Philippine soil mo sya pinirmahan. Macoconsider na fraudulent act na yung ginawa ng FA mo and yes baka matanggalan pa siya ng license because of being non-compliant. Kaya nga if we have clients na OFW na nagbakasyon sa Pinas dapat they should have stayed sa Pinas for 30 days or more. Atleast should there be any changes or kulang sa application, ma-aaddress pa right away.

[fragmentedmind]

Best insurance for me is Sun Life. My whole family are very satisfied clients.

When my granpa died 4 years ago, within 10 days ng submission ng required docs sa pag-claim, nakuha ng dad at ng uncles and aunts ko yung checks nila (equally divided since 4 sila na beneficiary). Tapos nung yung aunt ko needed heart bypass surgery last year, she was able to claim the benefit na critical illness check within 15 days.

For myself, I got their 10-year matiruty with premium money back na type na plan when I was 22 na kinuha ng dad ko for me (binayaran nya yung first year na premium) when I started working to encourage me to learn how to save a part of my sweldo. Nag-32 ako two years ago so nakuha ko yung premiums within 30 days. Wala akong docs na sinubmit, ninotify lang ako ng advisor na nag-mature ng plan ko at 10 days later pinadala thru courier yung check.

Me and my siblings have other plans with them din. No regrets here.

Iba pa rin kasi yung sinasabi ng agent ng isang insurance company na maganda yung company nila, or may number one ranking echos na sinasabi... at iba yung may actual experience ka or kapamilya mo na naka-claim ng walang hassle.

But I guess you also have to find the right advisor/agent to help you. I've heard it depends daw kung ma-alaga yung advisor mo, kasi kahit hanggang sa pag-claim, they will guide you. My grandpa and tita's advisor were retired when the claims on their plans were made, pero yung anak ng advisor nila became their advisor after kasi inendorse ng nanay nya before retirement sa anak nya, so sobrang tinulungan kami kung paano i-process lahat.

[Gaysha]

Update ko lang ang thread. I'm interested in getting a health insurance. I will try to backread (sorry di ko pa nababasa lahat kasi di ako familiar sa topic and nakakalito sya). Ano ang magandang health insurance? Meron bang health insurance na if di ka magkasakit sa period na yun, meaning di mo naavail yung mga nahulog mo, meron ka pa ring mababawi , like an investment return? Thanks.

[juicy]

Malaking bearing sa akin na dapat approachable at maganda ang customer service ng Company para in time na may claims and any change you want sa policy mo, madali kang magrequest. Dapat rin ang pipiliin nyo na agent/advisor is yung alam nyo na magtatagal sa Company, hindi yung iiwan nalang kayo pagkapirma nyo ng contract.
With regards sa VUL policies naman, since investment linked sya, be sure na consistent ang performance ng company na pipiliin nyo. They should always beat the performance ng PSEi, that's if Equity Fund ang napili nyo for investment.

[iamklarisse]

^^parang may ganyang product si Sunlife sis. Hope our other sisters here can confirm.

[rei_chan]

Guys, any feedback sa BPI-Philam insurance ng BPI Family? May offer sakin face value 650k and CIB is 350k for 3700/month for 10 years. Ok na ba sya? Parang namamahalan pa kasi ako e, 

[juicy]

^VUL ba yan sis?

[rei_chan]

i think so sis , insurance + investment. 

[jpvreyes]

i think so sis , insurance + investment. 

I think it really depends on what you need. You can actually and compare the quotation from other insurance companies that might be suitable sa need mo. And in that way you would have a better understanding sa mga different option na inooffer ng mga insurance companies. Hope this helps!

[geraldita03]

I'm torn between Manulife and Philam.

[iluvescadasport]

I currently have pioneer life headstart plan. They dont offer it anymore kasi nalulugi daw sila sa plan na yan. 2010 ako nagstart.

I pay 22,120 annually, tapos 1M makukuha ng beneficiary ko when i die. Vul din cya, as of today amounting to 110k.

Honestly, i got it kasi friend ko agent dun. Pero i had no idea about life insurance that time. Buti na lang until now inaadvise parin nya ako kahit wala na cya dun.

My parents and my elder sister have insurance from sunlife kasi close friend nila from sunlife.

I got maxilink from sunlife din, kasi i have a friend who is an agent there. Parang naawa ako sa kanya. Pero i terminated it this year. I lost 40k, malaking amount but cheaper if icontinue ko pa yun plan kasi narealize ko na almost same lang kinuha ko sa pioneer. Yun binabayad ko sa sunlife, almost 80k annually. I have flexilink with sun life din (yes, from my agent who is my friend din haha), balak ko din iterminate kaso hinihintay ko tumaas yun peso balanced fund para hindi ako lugi.

My suggestion is whatever insurance company you choose from, make sure you choose because u believe it is the right one, and not because may friend ka lang doon. And check din their net income and assets. Kaso one concern ko din is what if biglang nabankrupt or biglang magwithdraw lahat ng clients, may enough cash ba ang company to pay all their clients?

[rasee16]

^sis bakit ka kumuha then tineterminate mo lang din? Is it because you don't trust your friend? Or you don't trust Sunlife?

To answer your question na what if mag-withdraw lahat ng clients, it is a standard requirement ng insurance commission across all insurance companies yung cash reserves. Hindi basta basta babagsak ang insurance companies. And if they do, inaabsorb sila ng ibang insurance company.

[projectgora]

My suggestion is whatever insurance company you choose from, make sure you choose because u believe it is the right one, and not because may friend ka lang doon. And check din their net income and assets. Kaso one concern ko din is what if biglang nabankrupt or biglang magwithdraw lahat ng clients, may enough cash ba ang company to pay all their clients?

Hi Sis! To answer your concern, all insurance companies aim to remain SOLVENT and PROFITABLE at the same time. Solvency means they have the ability to meet their financial obligations (example: pay insurance claims, pay surrender charges etc.). Profitability means overall success in generating returns to the owners and increasing the value of the company. So, hindi po basta basta malulugi ang insurance companies because they are required to set up reserves to pay their obligation.

***

To all: Picking an insurance company to use is not an easy task. Jut like what iluvescadasport, choose a company because you believe in them not because the insurance agent is a friend. Before you decide to get a policy with a specific company, check their performance (net income, assets, net worth and premium income). If you already have an insurance company in mind, go to their website and check their annual statement/report. It presents info about the insurer's operations and financial performance.

***

For your reference mga sis, here's the list of the top insurance companies in the Philippines from the Insurance Commission (2016): http://www.insurance.gov.ph/htm/_statistics.asp

[projectgora]

I'm torn between Manulife and Philam.

Hi sis! Both are great insurance companies. Contact an insurance agent and ask for a quote. Check their websites for their annual statements/reports. I already have a VUL insurance with Manulife and I am thinking of getting a new one because of Manulife MOVE Gusto ko din si Philam Life because they have Philam Vitality. MOVE and Vitality are insurance reward programs that track your every move and rewards you with special rates on your premium. Papayat ka na, bababa pa premiums mo

[eischied_21]

I finished paying 2 of my insurances from Philam and Manulife. This time, I want to get a new one solely for retirement purpose kaso mukang walang ganun. Mostly ang ino-offer ay VUL which I don't like since I already have insurance and investing on MFs and stocks also.