Life Insurance or Retirement fund? (Thread 2)

[sachism]

Finally a new thread. Aside from tax, ano ang difference ng revocable sa irrevocable?

[health.gal]

^irrevocable - kailangan ng consent niya pag may papalitan ang policy holder sa plan. kaya dinidiscourage ang minors.
revocable - kahit walang pirma nila, pwedeng magpalit ng info ang policy holder. 

[betty]

diba may contestability period of 2 years?
what if you died naturally during that period, what are the odds na di makakaclaim?

[swit_squiggle]

tama si sis health gal. makukuha lahat ng benefits kapag due to natural death. pero pag may foul play ng namatay ka (pinatay ng kapamilya dahil malaki ang insurance, suicide, accident under the influence of liquor or drugs, undeclared disease/illness at yun ang kinamatay) during the 2 years period eh, yung mga binayad lang ang isasauli. hahaha. kailangang palampasin pa talaga ng 2 years at pwede nang magpakamatay. long live the sissies.

[snowyice]

@betty yung 2 years na contestability period para yun sa manloloko  sorry for the term, madami kasing kumukuha ng insurance na may sakit na tapos tinatago sa company and siyempre since the agent wants to close the deal hindi rin sinasabi sa company kaya kapag within 2 years for example namatay yung client due to sickness ayun pwede magsearch ang insurance company if may previous record na ang clients sa mga hospital if they found out na matagal ng may sakit yung client then they will not give the claim ibabalik lang  nila yung premium.  But kapag after 2years they won't do any search anymore ibibigay na lang nila agad yung claim 

[betty]

tagal din no?
is it applicable per policy even if after 2 years you got another policy?

[snowyice]

^^every policy may 2years contestability period

[marbleslice]

Joining the thread mga sis!  I availed a retirement fund just this year...

[sereiuqse]

I do have Retirement fund and Insurance in one via Mutual Funds.

This is 80% savings for retirement then 20% protection via Balance Fund.
Mas tipid ito dahil 2-in-1 na sya at the same time Balance Fund pa sya ng MF's so mas malaki ang kita in the long term.

[17arci]

I'm meeting an agent later from Prulife UK regarding Retirement Fund. Hopefully it's affordable enough.

[swit_squiggle]

life insurance is the backbone of a meaningful retirement fund. kasi you dont know which comes first e.

[jefsie10]

I'm getting a life insurance with Sunlife today 

[cosm!c_ch!c]

i got mine from manulife, yun freedom 20. Wala ako masyado nababasa dito about manulife pero mas panatag ako dito. with savings and investment, importante kung san ka 100% panatag di ba. yun sure ka na safe ang pinaghirapan mong money. Almost the same din naman ang ino-offer ng mga insurance companies pero choose the one na alam mo matatag. 

[loloy102]

i got mine from manulife, yun freedom 20. Wala ako masyado nababasa dito about manulife pero mas panatag ako dito. with savings and investment, importante kung san ka 100% panatag di ba. yun sure ka na safe ang pinaghirapan mong money. Almost the same din naman ang ino-offer ng mga insurance companies pero choose the one na alam mo matatag. 

sis would you mind sharing the details of your plan?

can't find any additional info on their website.

TIA

[cosm!c_ch!c]

@loloy
Freedom 20 (20yrs maturity; 10yrs to pay)
Face value: 500k
Monthly: 3,165 pero i chose to pay quarterly
Quarterly: 9,140

28 ako when when i got this. I chose to pay quarterly kc tipid na ko ng around 14k parang half yr na dn yun ng bnabayadan ko di ba. Tpos pina auto debit ko da credit card ko.  At the age of 38, tpos ko na byadan to. Aftr 10 yrs ulit, by that time, 48 na ko, makukuha ko na face value which is 500k plus the dividend na 161,835. All in all 661,835 makukuha ko after 20yrs. Parang 181% ang ROI ko. [textspeak!] ko nga sa agent ko sna dat na nya ko inalok pra mas mababa pa premium ko. Hehe. Kung dati pa sana, sakto pang college ng anak ko. Insured din ako for 20yrs.


If im not mistaken, yun face value pede minimum 100k. Then you can choose topay monthly, quarterly, semi annual and annual. Pra di mabigat.

[e.viv]

siguro nga I need this too already. I'll have to clear my finances first para siguradong makabayad ako regularly at di lang masayang.

[snowyice]

@cosm!c_ch!c maganda nga yung ganyang plan.  I got a plan like that thru prulife 18k for 300k tapos ang maturity nasa 500k++

[loloy102]

@cosm!c_ch!c maganda nga yung ganyang plan.  I got a plan like that thru prulife 18k for 300k tapos ang maturity nasa 500k++

sis ano name ng product na kinuha mo?

18k quarterly bin ba yan?

[blooming]

^ sis bakit ang mahal ng mga premiums ninyo? 

we have sunlife, mga P20-30k/yr lang, pero the coverage is double indemnity, with disability, with endowment, and if I am not mistaken at least 500k-1M coverage each.

[cosm!c_ch!c]

sis ano name ng product na kinuha mo?

18k quarterly bin ba yan?

@loloy: 19k quarterly yun sakin. the name of the plan in Freedom 20.

^ sis bakit ang mahal ng mga premiums ninyo? 

we have sunlife, mga P20-30k/yr lang, pero the coverage is double indemnity, with disability, with endowment, and if I am not mistaken at least 50k-1M coverage each.

@blooming: sis, im not sure if this is sobrang mahal. what i know e, di naman masyado nagkakalayo mga plans ng different insurance companies, iba iba lang ang pangalan ng plans. pero may rider din un plan ko na total disability waiver and accidental benefit which means if the policy owner died because of accident, the beneficiary will get double of the face value plus the dividend. kaya if 500k yun FV, magiging 1M kung accident ang cause of death.