Life Insurance or Retirement fund? (Thread 2)

[leelou]

^ sis, yan nga advise ng mga financial advisers na better daw invest on your own na lang and get traditional/whole life insurance kasi expensive yun mga VUL. i think Sunlife has pero bundled with endowment or dividends yata. although i still pushed thru with VUL (hubby's) and endowment plan (mine) kasi it works as forced savings na rin for us. sapilitan kumbaga haha!

[mameejhy]

Medyo concerned lang ako sa parts na:

1. 15yrs lang sya insured.
2. After 15 years eh walang pera na babalik sa amin... sabagay, atleast buhay naman sya.

BUT - ok yun term insurance kasi mas mura kesa sa vul.

[lclanzaderas]

sis mameejhy, concern ko din before yung concern #2.
yung 1st and 2nd life insurance na kinuha ko nung single pa ko, parehong hindi term. yung sa 1st, closed na yung company. yung 2nd, ok pa naman.
yung 3rd na kinuha ko last month, term insurance na.  kahit may mangyari in the future dun sa company, ok lang, since term insurance naman yun.

[chefron]

sis hindi ba kahit magclsoe yung insurance company eh hindi naman masasayng ang policy mo kase i-aabsorb ito ng ibang insurance company na nakabili nung company na nalugi?

[lclanzaderas]

sis chefron, yung sa experience ko, walang nag-absorb. payo nung insurance agent nung 3rd kong insurance, mag-apply pa din daw ako ng claim kasi pag nagkafunds daw, baka may makuha pa din ako.
di ko masagot ang tanong mo wala dahil wala akong personal experience sa ganyang kaso. pero yung sa 2nd ko, hindi naman nalugi, nag-combine lang. yung ayala life assurance inc. na bpi-philam na ngayon. =)

[swit_squiggle]

Tracking the history of insurance company in the Philippines, hindi naman alarming na merong nalulugi. associated lang sya sa preneeds na merong negative effect dito sa atin. Currently wala pa along term insurance, puro VUL's and isang level participating insurance for my hub.mad mura nga naman any term insurance compare to other kind of insurance when pure protection lang naman any kailangan. I compare the charges sa level term and vul's, sa Una milya milya ang laki talaga ng charges comparing to the latter, pero in the long run, vuls charge 60-70% less to the actual term at the same time force savings na din. Hehe. Naiisip ko rin baka kasi in the future mas kailangan namin Ng mas malaking insurance, kaya take advantage na lang kami habang insurable pa kami and maliit pa any premium namin. Hehe

[mxherr5]

^
I had the same result but I was comparing the cheapest
VUL(I got all of the charges, premium,policy,cost of insurance)
and compared it to the cheapest term.

From age 23 to age 65, assuming the "side fund" earns 10%
for both.

That time, I compared Philam's Guardian 65 and Sunlife's Flexilink
Sunlife came out ahead

but with Insular's I-Insular introduction to the market, the winning
product would have been I-Insure.

That was back in 2008-2009.

Yes, 1 year ako nag canvass haha

Especially since Sunlife was the only one willing to give out their
Cost of Insurance table

I had to work hard to get the cost of insurance of the other companies.

I'm curious though, how you were able to figure out that VUL would come out
ahead? I know some have low premium charges, but look at the cost of insurance
charges, deym! Kunyari sa Sunlife, 1k [textspeak!] sa kanila 2.5k and premium charges
only last for the 1st few years, cost of insurance is forever..

sis chefron, yung sa experience ko, walang nag-absorb. payo nung insurance agent nung 3rd kong insurance, mag-apply pa din daw ako ng claim kasi pag nagkafunds daw, baka may makuha pa din ako.
di ko masagot ang tanong mo wala dahil wala akong personal experience sa ganyang kaso. pero yung sa 2nd ko, hindi naman nalugi, nag-combine lang. yung ayala life assurance inc. na bpi-philam na ngayon. =)

Which insurance company are you referring to?
I've never heard of an insurance company going under
which wasn't bought out by another company.

Baka you're referring to pre need companies?
Remember they aren't an insurance companies
and they just get group insurance from insurance
companies so their product has insurance features.

[sachism]

i also initially wanted TERM insurance for my husband but when I got the proposals, VUL was cheaper. I compared Prulife's terms and VULs.

[chefron]

huh really?

[sachism]

yes,  maybe because of my husband's age too. but I decided to go for VUL instead.

cheaper meaning,if my husband would live beyond his "insured" years, we will still be able to get money based on the projected amount of our contributions. unlike sa term, wala kaming makukuha.

[Dacian]

retirement fund for me.

[caterpillar-girl]

Hi girls, I saw this vide of Suze Orman and she's against whole life insurance. She says na better ang term insurance. http://www.youtube.com/watch?v=6vnN9liFWaE

Actually, dito ko nakuha yang link. The blogger is also advising against insurance plus investment. http://www.investorjuan.com/2011/12/life-insurance.html

I don't know na ngayon. I was all set to go for Sunlife's insurance + investment tas ngayon hindi ko na alam 

Watchathink? inputs pls!

[loveyourlife]

I'm planning to get a Term insurance for myself for with a 20 years coverage. But I don't know which Insurance companies give a better benefit and a cheaper premiums. Mgas sissies out here na may term insurance policy, any recommendations?

Thanks in advance! :-)

[loveyourlife]

I'm planning to get a Term insurance for myself for with a 20 years coverage. But I don't know which Insurance companies give a better benefit and a cheaper premiums. Mgas sissies out here na may term insurance policy, any recommendations?

Thanks in advance! :-)

Ay. I just remembered Sir mxherr5 recommended Philam Guardian and Insular's I Insure. Seems like okay ang dalawang ito. Though  I haven't had a chance pa na kumuha ng quotations for my age. I'm just wondering, kung meron ding inooffer ang Sunlife na similar sa dalawang products na toh? Gusto ko din sana is 20 years coverage lang. Kaso both products offer 1,5,10, and 65 years.

[caterpillar-girl]

^Sis paano ka nagdecide na term insurance instead of whole life or permanent insurance?

Sa pagkakaalam ko, kapag term, less premiums nga at the start pero lalaki at lalaki ang premiums as time goes by. Plus if you don't die within the term, walang makukuha ang beneficiary mo.

Kapag permanent naman, malaki nga ang premium at the start, pero fixed sya, tax free pa, at kahit fully paid na, at di ka mamatay within that time period, may makukuha ang beneficiary mo.

Tama ba pagkakaintindi ko girls? Need help! Malapit na kasi ako mag sign up sa Sun Life VUL. Now I'm reading all these things na better to buy term and invest the rest. Argh so confusing.

And also, just a clarification, if I "borrow money" from my VUL, may interest ba na kasama yun? Let's say 600K na yung pera ko after 3 years, and then I get 500K out of it, may interest ba yun na babayaran ko?

[leelou]

^ i know lang na you can withdraw fund from your policy if may enough na. that's from the investment component of the VUL i think.

[mxherr5]

@caterpillar,

tama c leelou, you can withdraw your money no
problem with MOST VULs

Others kasi have surrender charges for the
first few years. So if you take out money in
the 3rd year, baka may kaltas pa.

But if you're pertaining to Sun Life's VUL
Wala silang surrender charges.

Ang argument sa VUL vs BTID(Buy Term,Invest
the Difference) is term is much more cheaper
than VUL's charges.

If you look at your proposal ang VUL ang parang
term lang rin plus investment funds.

I'd rather get term and invest in other mutual
funds or VUL.

I won't get a traditional whole life policy

[luscious_peach]

Any feedback on Sunlife Flexilink? Have you heard of it? Who has availed one? I'm about to meet with the agent this week..

[luscious_peach]

I'm planning to get a Term insurance for myself for with a 20 years coverage. But I don't know which Insurance companies give a better benefit and a cheaper premiums. Mgas sissies out here na may term insurance policy, any recommendations?

Thanks in advance! :-)

Sis BPI-Philam's Life Protect 1, 5 and 10 has cheaper premiums. I inquired last week, pumapatak na 6K yearly ang premium ko for Life Protect 10. With 1M face amount.

[loveyourlife]

Sis BPI-Philam's Life Protect 1, 5 and 10 has cheaper premiums. I inquired last week, pumapatak na 6K yearly ang premium ko for Life Protect 10. With 1M face amount.

Hello Sis luscious_peach! Thank you for sharing this. much appreciated! :-)

Just a few questions po:
1. Anong age yung ininquire mo for a 6k annual premium?
2. Fixed na ba yung premium na yan for 10 years o possible na magtaas every year?
3. Covered ba accidental death ?

Thanks in advance!

Godbless to you! :-)