Life Insurance or Retirement fund? (Thread 2)

[jiffy]

Hi, I got my Manulife term insurance when I was in my early 20s.. Syempre
Mura Lang coverage Ko nun 500k. I payed the annual premiums for around 7-8 years then the annual dividend was enough na to apply sa annual premium. This happened for 2 consecutive years so wala nako cash out. This year I got a billing statement for around half of what my normal premium price before. Nangyayari ba Talaga ganito? Kase I was hoping na self paying na sya sa dividends.. Does this mean the company is not doing well thus dividend declaration is low?!?! Thanks!

[chefron]

sis chefron, life insurance is tax-free if your (primary) beneficiary is irrevocable.  Kung revocable ang beneficiary, the insurance will go to the deceased's estate which is subject to tax.

ah so magiging subject to estate tax na sya? aray ko naman po!
so mapipilitan pala akong ilagay asawa ko as primary beneficiary instead of my kids

[sachism]

^ this is why i chose irrevocable too para walang tax. pwede naman sis, dalwa ang primary, husband and kids para equal share. pero sino nakalagay na guardian kay minor? husband din ba or parent mo?

[chefron]

so if subject to estate tax sya, meaning di mo sya makukuha unless mabayaran yung tax?

guardian = sister ko

secondary beneficiary si husband

[miksha]

^sis yaskulet may i ask yung terms nang pension plan mo (like when mo siya makukuha, magkano makukua monthly, pano payment,etc...) i'm looking for a good pension plan kase

[proudmom]

so if subject to estate tax sya, meaning di mo sya makukuha unless mabayaran yung tax?

guardian = sister ko

secondary beneficiary si husband

yes, you have to pay the taxes first.  Make your child the "irrevocable beneficiary" .

[swit_squiggle]

hehe..malaking issue yang irrevocable revocable if things doesnt go well in the future like, ginawa mong irrev ang husband mo, then naghiwalay kayo naku, hinding hindi mo mapapalitan ang beneficiary without the notice of the other party. e papayag ba naman yun, na tanggalin mo sya. hehe.. sabi nga ng iba naman, mabuti na yung may makuha ang beneficiary upon death kahit subject to tax kaysa naman ebother ka nila sa policy na kinuha mo pag nagka aberya. hehe. pero wa epek sa akin ang reason na ito. irrev pa rin si hub. hehe

[chefron]

hehe.. btw age 18 na dapat before sya pwedeng irrevocable no?

[miksha]

btw, ano ba ang top5 insurance companies sa pinas? ang kilala ko lang kase is sunlife, philam and insular. kase wala na ang ayala dahil  nabili na siya nang philam right? matibay pa ba ang insular? how about prulife uk ok ba sila?

[juicy]

^sis, yung ranking kasi iba iba based on different parameters.
yang 3 binanggit mo, nagpapalitan lang naman sila sa ranking ng 1-3 

You're asking if Insular is matibay, I believe so, it is still 2nd in Networth and Net Income as of 2010. It is next to Philam.

[pinkcoyote]

Sunlife is No. 1 na ngayon for the 1st time (kasi 2nd daw lagi sa philam for the longest time hehe)

[marssie]

Lol

Ayoko naman ng term kasi after that period, lets say 30yrs, at hindi ako namatay ay walang makukuha ang family ko. At least sa Vul, may makukuha kahit hindi mamatay

Sis,. sa Sunlife ka ba kumuha ng VUL? anong klase? Went to Sunlife website, di ko talaga maintindihan

[cammybelle]

btw, ano ba ang top5 insurance companies sa pinas? ang kilala ko lang kase is sunlife, philam and insular. kase wala na ang ayala dahil  nabili na siya nang philam right? matibay pa ba ang insular? how about prulife uk ok ba sila?

yes sis, actually Insular is the only 100% Filipino Owned Insurance Company among the other top 5
and it is  their 102nd year in the business 

[mameejhy]

Sis,. sa Sunlife ka ba kumuha ng VUL? anong klase? Went to Sunlife website, di ko talaga maintindihan

Ikukuha ko ang asawa ko pag bakasyon namin sa Pinas. Either Maxi Link or Prime Link.

[lclanzaderas]

goal to get additional life insurance, done last month.
retirement fund, starting over this month.
 

[luscious_peach]

Any feedback for BPI-Philam's Lifeprotect 1, 5 and 10? Planning to get one... Around 6K lang kasi papatak ang babayaran ko yearly for 1 million face amount.

[mameejhy]

Update lang...

Im now into mutual funds and stocks - ok lang kaya na term insurance na lang ang kunin ko para kay hubby? 

[chefron]

yes sis

[sachism]

^^ Yes sis.

[mameejhy]

^ and ^^ Ok mga sis... I'm now on the hunt for a good term insurance hehe

Yun Sunlife eh up to 5yrs lang yun coverage then annual renewal na. Yun Insular I-Insure naman ay up to 15yrs - parang mas type ko ito. Meron din sila na up to 65yrs pero baka Health plan na lang kunin ko for that age lol - maganda yun sa Manulife

Gusto ko sana insured si hubby up to mag college yun middle child namin, at least graduate na si eldest - matutulungan na nya ako magpa aral kay 3rd child hahaha