Life Insurance or Retirement fund? (Thread 2)

[loveyourlife]

Thank you sis! Oo nga eh, baka term insurance na nga lang ang kunin ko. Invest ko na lang yung iba sa mutual fund din for medium to long term.

How about you sis, anong insurance ang inavail mo? :-)

Thank you for replying to my post ha. much appreciated! :-)

sis better get term insurance sis you'll be investing in stocks naman.

[loveyourlife]

Ay may reply ka din pala dito Sis Chefron! Ang sipag mag reply. Bait bait! hehe

Gusto ko lang kasi malamn sis kung ako kinagandahan ni I-Insure against Philam's guardian since parehas naman silang term life. :-)

I-Insure is a term insurance, you dont get any "money back" with this plan.its only your beneficiaries who will benefit from this. eto yung product na kailangan mo if gusto mo lang na may makukuha ang mga maiiwan mo pagnamatay ka, sa murang halaga. pwede tong 5,10,15 years coverage or until age 65 nga. premiums paid ay magbabago as you age.

VUL, is an insurance product with investment na kasama.a part of what you pay for goes to fund investment and insurance. like any other life insurance this too is long paying, as long as you live, para di maapektuhan yung investment na kasama nito.although pwede din maging self paying ang premiums mo kung malake na laman ng fund value mo.

ang insurance product ay nagiging maganda depende sa nakikita mong magiging gamit nito sayo at syempre andun na din yung kung kaya bang bayaran or imaintain.

[chefron]

sensya na sis wala akong background sa philam, hehe di ko pa sya nabasa...
anyways like you im confused din before as to what to get. well until now naman. masalimuot lang kase ang VUL product pero still nauna kong nakuha is VUL, tas now mag add ako ng term life naman kase mukhang kulang ang 1 M na coverage for my 4 kids.  kaya ko naman sinunod ang term kase for me hindi sya mabigat sa bulsa tapos additional coverage pa, so panalo pa din diba?
as you can see, my goal here is for protection of my family, next na lang ang retirement which coincidentally eh magkakaroon dahil i also have a VUL.

[loveyourlife]

Parehas tayo Sis, my goal is also for protection of my family specifically my Mom and my little sister. Ako kasi ang inaasahan nila. Tsaka I also started investing in Stocks naman for long term so okay na din siguro yun for my retirement noh? Mag add na lang ako ng mutual fund din for additional investment. hi hi :-) Oo nga sis mukhang masalimuot ang VUL prang hindi ko keri pagaralan sya. term life, mutual funds, stocks at emergency fund na lang muna siguro unahin ko sa ngayon. Tsaka na ulit ako magdagdag sa portfolio ko kapag naiintindihan ko na yang VUL. hehe

Meron ka na bang napupusuan na term life product sis? nakapag canvass kana ba?? Pwede mo bang ishare sain? hi hi

Thank you so much Sis Chefron! ^_^

sensya na sis wala akong background sa philam, hehe di ko pa sya nabasa...
anyways like you im confused din before as to what to get. well until now naman. masalimuot lang kase ang VUL product pero still nauna kong nakuha is VUL, tas now mag add ako ng term life naman kase mukhang kulang ang 1 M na coverage for my 4 kids.  kaya ko naman sinunod ang term kase for me hindi sya mabigat sa bulsa tapos additional coverage pa, so panalo pa din diba?
as you can see, my goal here is for protection of my family, next na lang ang retirement which coincidentally eh magkakaroon dahil i also have a VUL.

[chefron]

i only got a quote from prulife and sunlife.

sun assure a term coverage of 5 years with critical illness attached. either mauna ang death or madiagnose ka ng critical illness tsaka makuha yung sum assured.kung alin man mauna. 500k face amount i think ang premium is nasa 6k for age 32

prulife naman 15 year coverage of purely life, at almost 9k premium.

[mameejhy]

^Sis, bakit mo nasabi na masalimout ang VUL? Thanks

[chefron]

for me lang ha, feeling ko kase, at di ko talaga magets, there's something missing with the way they present the product. kulang sapaliwanag pa.

sa pagkakaintindi ko, somethings based in number of shares 

pero kahit di ko naintindihan eh kumuha pa din ako, pikit mata hahaha kas euntil now sinusubukan ko pa ding intindihan ang nakasulat dun sa booklet ng policy ko.


thats why im opting for term now for additional protection.

[mameejhy]

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

[chefron]

oo pero still not guaranteed ang amount, pero ok na din.

merong term na until age 65.

for me naman ang logic ko kaya ako kumuha ng insurance eh para sa panahon na nag aaral pa mga anak ko, at dun ako na deads, para makapag aral pa din sila at makapag move on sa buhay nila.  hindi ako kumuha ng insurance para maging mana nila hehe although its a good idea too

[leelou]

compared to term insurance, you will shell out considerable sum of money with VUL. money that you yourself can invest in stocks, UITF, mutual fund, etc. with VUL kasi, you let lang the insurance company invest it for you.

pero bagamatganunpaman kumuha pa rin ako ng VUL  am not confident yet kasi to do the investment myself. kaya din kumuha ako ng UITF

[Daenerys]

Kumuha si hubby ng life insurance niya. 155k/year ang premium. He's in the early 30's so medyo mahal talaga premium. The best talaga kumuha habang bata pa. Ako naman term life lang.

[chefron]

for how much coverage nyan sis? parang ang lake amsyado ng premium ng husband mo considering nasa early 30's din ako. even if VUL yan eh sobrang lake nyan

[Daenerys]

^More than 6M sis. Hindi ko sure yung exact amount. Sun Life Maxilink siya.

[chefron]

wow i envy you for a big sum assured amount, gusto ko din ganyan para sa mga dependents ko.

palinaw nga po ulit:  subject for estate tax ba ang life insurance?

[Daenerys]

^Sabi ng agent namin tax free.

[miksha]

magtatanong po if para sa  mga anak bakit hindi na lang endowment instead of life insurance? kase sa life insurance makukuha lang nang dependent kapag dedo na yung tagabayad in which case is the parent. sa endowment kung tama ang alala ko may given na number of years after you start the payment or may given age ata nang bata mag start na silang magpayout nang cash. hindi mo na kailangan hintayin na tumanda yung bata na as in matanda na like 30years old or magsenior citizen or madedo ang parent. and hanggang living ang bata tuloy lang ang annual payout nang cash. saka kung sakali madedo ang parent na hindi pa bayad ang plan considered na nilang fully paid ang plan. para sa akin parang mas ok ang ganito kaysa sa life insurance

[chefron]

cost wise sis, its mahal 

compare mo yung binabayad mo sa term insurance at sa endownment kaya mo din ibigay sa anak mo yun pagdating ng panahon na nagbibigay na ang company ng cash for the endownment.

as i was saying, my insurance is for my kids protection, kung mamatay man ako ng maaga eh makakapag aral pa din sila kase may naiwan akong pera kahit paano. now if hindi ako mamatay ng maaga and they are all graduates na, eh di pamana ko na sa kanila yung insurance ko, swerte nila at may pera pa din sila. 

endownment is good kase "feeling mo" nababalik nga yung binayad mo kahit paano.

[miksha]

ganoon ba.. ito po kase yung nabasa ko.. http://thinkrichfilipino.com/guaranteed-stream-of-income-for-life/. btw i am in no way affiliated with the blog or with the products in the blog or with sunlife. isa lang din po akong nilalang na gustong matuto =)

[chefron]

si swit_squiggle author nyan.

endowment is really good if you want to reap agad and you would like to use the money agad din.

term life for a 32yr old female non smoker with 1m face amount is less than 9k.
compute this against endowment tignan mo sino mas malake ang return talaga.

sunlife assure same policy holder with 500k face amount is just less than 7k

[proudmom]

wow i envy you for a big sum assured amount, gusto ko din ganyan para sa mga dependents ko.

palinaw nga po ulit:  subject for estate tax ba ang life insurance?

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.