Life Insurance or Retirement fund? (Thread 2)

[mxherr5]

I echo what swit said

You know what our agents do here won't be
tolerated in the US because they have a fiduciary
duty to their clients and a life insurance cannot be
considered an investment.

They will be penalized for misrepresenting the
life insurance product they're offering if they sell
it as an investment.

[mayumiyumei27]

Any recommended reliable life insurances? Education plans na rin pasama. Anyone heard of Prudential Life? Napapasok ako, pero parang takot ako ituloy, marami na kasi akong naririnig eh... But so far, ano po pinaka magandang pasukan na insurance and which life insurance company ang pinaka mapagkakakatiwalaan?

Thanks po and Godbless...

[caterpillar-girl]

Guys,I just want to ask, bakit ang laki ng difference between my VUL plans sa Philam life and Sunlife?
With Sunlife, 1M coverage, and 21k premium, 10 years to pay. But with Philamlife, 20k premium, 100k lang coverage. Ang laki naman super ng difference. Halos same terms and conditions lang. Is that normal?

[swit_squiggle]

Are both VUL's sis? baka traditional insurance ang isa?

[babae_po_ako]

ok po ba ang sunlife? im planning to get one po.

[caterpillar-girl]

^^Yup parehong VUL sis. Yung Philam, x5 yung coverage nung annual premium. So kung 20K, 100k lang coverage, whereas sa Sunlife kaya ng 1M coverage, at just 21,300. Sobrang laki naman ng difference haha. Ang labo. Talong talo ang Philam naman, unless may hidden charges nanaman ang SUnlife na hindi ko alam.

[swit_squiggle]

Ah..It's Phil-am Abundance Plus. Its more of investment driven kasi ang plan na yan sis with minimal protection. Ang charges ay iba din kasi nakabasi ang insurance charge sa coverage ng plan. This kind of plan is ASSET-PROTECTION ang labas.

On the other hand the Sunlife VUL that you are referring to is either the Flexilink or the Maxilink. Sunlife is very transparent with the charges and it can be seen in the policy. With this kind of policy ang labas naman nito is FAMILY-SECURITY.

You can't compare this two on the same level kasi iba ang charges structuring nila and the financial goal ay iba din.

[mxherr5]

@caterpillar,

swit is right.
So if you look at the illustration at say
year 10 or whatever, same 10% return,
dapat mas malaki ang fund value ni Philam.

That's because your paying more insurance
charges sa Sunlife VUL mo. 10x the charges
(1M vs 100k)

[caterpillar-girl]

Thanks guys. I looked at the returns on year 10, konti lang ang lamang ng PhilAm.

PhilAm after 10 years with premium holiday at year 10
265K at 20,000 annual premium

SunLife after 10 years with premium holiday at year 10
248K at 21,300 annual premium

Mas lamang ang PhilAm but not by a whole lot. Howell. Thanks for clarifying guys.

[piao_liang]

Just got mine through manulife last month!

[mayumiyumei27]

ano pong companies recommended nio for Term Insurance and for Investments?

Saka ano po 'yung VUL? Sorry...

[mxherr5]

That's why I never got a VUL from Philam.
I remember I made a remark that Philam's cost of insurance
seems high.. too high compared to its peers.

The agent says, their actuaries says their on the
mid range. Hahaha But he doesn't have numbers the
to back it up. Eh the numbers on the illustration tell
a whole different story.

Btw, sila lang ata ang VUL na hindi dinidisclose ang
first year COI sa proposal. Yung iba ayaw ibigay ang
table of COI rates pero ibibigay naman sayo ang COI
mo for the 1st year.

[Misis_Maku]

Me and my fiance's insurance are from Kaiser, sa Hong Kong kami nag-apply, pero meron din silang office sa Pilipinas. Fiance feel na sila yung pinaka-okay, since inaral nya yung terms, para ma-explain nya saken ng maayos. If you wanted details, I can refer you to our agent. 

[babae_po_ako]

sis caterpillar-girl,

napaisip ako sa rate nila philam at sunlife.

PhilAm after 10 years with premium holiday at year 10
265K at 20,000 annual premium
200K=20,000 X 10


SunLife after 10 years with premium holiday at year 10
248K at 21,300 annual premium
213K = 21,300 X 10

After 10 years 65K
sa philam
(32.5% of 200k / 10 years = 3.2% per annum ang kita) at
sa SunLife
35k(16.43% of 213K / 10 year = 1.6% per annum ang kita)

Maliit [textspeak!] din pala ang kita mo sa mga ganyan. Ipagpalagay natin ng ang inflation rate is 5% every year talo ka.

Just my insight.

[swit_squiggle]

Remember that insurances are a different financial instrument from MF's, Stocks and UITF's along with other investment.  Hindi kasi kita ang hanap mo, pag kukuha ng insurance, but PROTECTION along with it's additional feature base on your financial goal.

There is wisdom in pooling one's small resources into a pooled investment like what life insurance companies offer. I would congratulate caterpillar for having the foresight  of a secured future for her family that despite the risk of dying, she was able to manage it.

Now, may investment ka nga, laki ng kita, may real estate ka, laki ng bahay, may mga ari-arian ka at malapad na lupain, wala kang kinuhang insurance sa sarili mo, lahat ng investment nasa pangalan mo, bigla kang kinuha ni Lord (knock on wood) Eh di FREEZE lahat ng assets mo. hindi pwedeng galawin ng kapamilya mo kasi wala silang liquid na pera  pambayad sa tax sa gobyerno, nagkautang  pa kasi 1 buwan ka naospital bago mamatay. Kanino ngayon ang napkalaking ngiti? Hayan si BIR at ang gobyerno kasi laki ng tax ng pamilya mo. masesequester pa ang lupa, bahay, etc.

Pano pag nagkakaso ka? Do you know that all investment are subject to garnishment proceedings? But life insurance are exempted from a writ of execution. Kahit nakaposas, pwede mong sabihin. Teka teka..walang pakialam sa insurances ko. exempted yan kapatid.

Lawakan natin ang pag-iisip.

[babae_po_ako]

Sis swit_squiggle ganun ba. naisip ko lang kasi medyo maliit compare sa MF. Since alam ko na mas maalam ka sa mga ganyang bagay siguro you can give more positive feedback sa amin.

[chefron]

ask yourself mga sis, what is your understanding of life insurance ba? [textspeak!] ba purpose mo baket ka kukuha? list mo muna what are your NEEDS. from there kase you can assess which product bagay sayo.

[mxherr5]

@babae,

you're not making a fair comparison, a VUL
is basically term insurance + MF/UITF/Whatever Investment.

If you want to know if a VUL is a good deal,

Take the VUL's annual premium.
Set that as your budget, then look for a comparable
term insurance, then invest the rest.

Ex,
Philam's 1M term to age 65 is around 7k.
Sunlife's 1M VUL(just for the sake of argument) is around 21k.

You'd have 14k to invest in 10 years.

Preferrably you'd compare the fund value at age 65 though because
VULs are front loaded, meaning the cost is very high at the 1st few years
then it goes way down after year X or year 10 for Sunlife.

[mameejhy]

@babae_po_ako - I think if may mutual funds/ stocks ka na or nagpa plano ka mag invest dun, pwede kahit term insurance lang Personally, interested ako sa VUL dati pero may mutual funds at stocks investments na ako ngayon kaya baka Term na lang rin ang kunin ko for hubby and me.

[mayumiyumei27]

Reading on here, it's good to invest in VUL funds but necessary pa rin talaga na magkaroon ng insurance in case something happens to you. Mahirap na. Kawawa nga naman family mo kung maiwan mo man lahat ng properties mo tapos maghihikahos naman sila. After all the reason for you to earn those things is for them.

Found this at the Sunlife Site their List of VUL Funds.

VUL Unit Price 
Peso Funds
 
As of 07/25/2012

                                                  Unit Price                               YTD*                           YOY**
Money Market Fund                      PHP 1.0726                        0.6003%                        0.8746%
Bond Fund                                   PHP 1.7531                        2.8452%                        8.2495%
Balanced Fund                             PHP 2.6030                        13.4699%                      10.0727%
Equity Fund                                 PHP 3.1366                        17.6784%                      12.4310%
MyFuture 2020 Fund                     PHP 1.9728                        17.5545%                      12.4103%
MyFuture 2025 Fund                     PHP 1.9262                        17.5946%                      12.7884%
MyFuture 2030 Fund                     PHP 1.9425                        17.6773%                      12.4588%
MyFuture 2035 Fund                     PHP 1.9601                        17.8157%                      12.7207%
MyFuture 2040 Fund                     PHP 1.9557                        17.8630%                      12.6750%
Income Fund                               PHP 1.1769                         8.4301%                       17.7135%

Opportunity Fund PHP 1.1484 14.2800% 10.9351%
Growth Fund PHP 1.1839 17.6254% 13.9461%
 
What would be the best for starters dito? I'm really interested on involving myself in VUL since I'm seeing alot of comments here na maganda s'yang investment? Also planning for Retirement fund?