Life Insurance or Retirement fund? (Thread 2)

[beautywhite]

^ 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.

hi! ano ang tawag sa plan mo? I am planning to get one. Dati,I don't believe in insurance kasi.

[mameejhy]

gusto ko sana may term insurance until 85 and lock in yung payment haha. expensive nga pag traditional life insurance, and personally, mas tutubo pa pera ko if i invest it myself kesa guaranteed cash benefits.

May Sunlife term insurance na covered until 100yrs old, according to sis swit_squiggle.

[artificialstar]

^ thanks for the info sis. I'll check sunlife

[swit_squiggle]

Oops..baka maconfuse si artificialstar regarding term 100. It's actually a whole life kasi hindi mo siya macacategorize na term kung until age 100. By age 90+ kasi 6 digit na ang premium mo (more than half a million) for just a year na magpapainsure. Para lang siyang level term ang labas kasi kung susumahin mo ang payments when buying a term from X years old until age 100 level or average ang premium niya. But it's actually a whole life sis.

[sales_lady]

so meron palang renewable yearly parang car insurance. what company yan sis? para makapag inquire.

[swit_squiggle]

Any insurance company has this kind of product sis sales_lady

[eischied_21]

Meron bang product ang mga insuance company na purely retirement/pension plan lang and walang kasamang insurance plan?

[mxherr5]

So if you die(knock on wood) prematurely, you're ok with
the company keeping all of your money?

[mameejhy]

^

^^Dapat yata sa iyo sis ay stocks, uitf o mutual funds...

[donyadine]

mukang kelangan ko na kumuha ng insurance. 25 y.o na ko, ano kayang ok na option?

[maycjj]

Hi donyadine, better get one while you're young at wala pang kids.

I have Sunlife, life insurance and retirement fund in one.

Life insurance - Kasi kung mamatay ako anytime, may makukuha family ko equal dun sa premium ko na 1 million. monthly payment ko ay 2335. pwedeng quarterly, every 6 months, or yearly. yong 2335 imultiply mo lang sa 3, 6 or 12.

Retirement fund - kung di ako mamatay at umabot ako sa retirement age na gusto ko (60 years old), makukuha ko ng lump sum, buo, yong lahat ng hinulog ko plus yong kinita throughout the years.

Yong Sunlife ko ay mutual fund, balanced fund, so they invest my money sa stock market. Basta maganda stock market, maganda rin kita. So far maganda naman. Nagstart kasi ako nung 2009. Nakikita ko online kung magkano na kinita. May online sa Sunlife, parang BPI, kita mo yong accounts mo. As of now, kumita na yong mga hulog ko ng around 45%.

10 years to pay but pwede icontinue beyond. mas malaki makukuha ko pagretire. kaya plan ko ituloy lampas ng 10 years. nagwowork pa naman ako by that time, God willing.
nagstart ako 28 na. mas maaga mas better. 25 is okay. kasi na-enjoy mo na for several years yong sahod mo. mga 21 to 24, kahit di muna, enjoy muna sahod para di ka feeling deprived.

Meron din akong COL investment. I buy stocks. Will keep them until my retirement.
Minsan nagtitrade kaso stressful hehe!

Sa health insurance, yong sa company at sa philhealth lang gamit ko, ok na.
Ang pangit kasi sa health insurance, hindi sya naiipon. Hndi mo makukuha after several years. Yearly need to pay para covered ka that year. Not sure if may longer term than 1 year.
But okay ito pag wala kang company health insurance. Laking tulong at tipid.
So if meron na, wag na kuha. If wala, kuha ka. around 150,000 to 200,000 per year worth of coverage I think pwede na. basta stay healthy.

may BPI UITF din ako. deposit ka lang, bili ng product ng bank na gusto mo, say every month. hintayin mong lumaki. retirement fund na.

mas priority ko kasi ang retirement dahil that time, di na tayo makakapagtrabaho at ayaw din nating maging pabigat sa pamilya natin. gusto natin, enjoy life na lang.

so habang bata pa at nagtatrabaho, maglaan ng pangretirement. yong pangstarbucks mo, mag 3-in-1 coffee ka na lang at ibayad yan sa life insurance or stocks or mutual fund or uitf.

[Baby Madeline]

I have Sun Life Maxilink (VUL) for 2 years already. P2000/mo (ako ang nagsabi sa advisor na ito lang kaya ko) with a face amount of P500K. Yung MF is invested on balanced funds although I would have preferred na sa equities na lang since long-term naman. I'm contented with the fact that I'm insured and my family would get something just in case. I'm not really after the investment part of this policy. If may makuha akong malaki after 30 years or so, well and good. Kung not so, no harm done.

Now that I'm married, I'm planning to get term insurance for me and my husband, which of course, kami ang beneficiaries sa isa't isa, then a separate MF. My Sun Life policy will be entirely for my family (the irrevocable beneficiaries would be my parents). And once we have a child, we'll get an endowment plan na lang for our kid/s (gagayahin ko yung isang sis dito  For now, I'm researching pa what company kami kukuha. 

By the way, sino dapat ang may hawak ng policy? Yung beneficiaries ba? If by God's grace makasunod ako sa husband ko abroad, I'm thinking of leaving my Sun Life policy with my mother. You know, just in case. They're still not aware na I have a life insurance plan kasi.

[Mr.Punch]

I started on Manulife's Plan Right around 7 years ago, paying almost P20,000 yearly for 15 years (or 20, I can't remember exactly) and vesting for another 10 years before I can claim it.  Upon maturity, I could either opt to get the money (around P1 million ++) lump-sum or as a monthly pension.  It also has provisions wherein my designated beneficiaries would nevertheless get the money if I die early even without completing the payments.

I admit that the only reason I got that plan was that I got talked into it by a friend who was then a Manulife agent, so I never got to compare it with the products of different companies.  In hindsight, I would have opted for a VUL-type plan wherein there's a much more comprehensive insurance, and there's more transparency as regards where the funds are being invested.  Yung Plan Right kasi ng Manulife, they are under no obligation to reveal where the money is being invested.  AS in wala.  Oh well, panindigan ko na lang.  Mukhang stable naman ang Manulife.

[mxherr5]

But remember that guaranteed earnings has a price
and that's what your basically paying for, guaranteed 1M
(plus dividends malamang)

With VUL, you are shifting the investment risk from the
insurance company to yourself.

And having said that, I'd still go for a reasonably priced VUL

[snix]

anyone knows an agent from Manulife? wanna get one while im still young.. nawala na kasi yung agent na kausap ko dati

[Vera]

Wow these have expensive monthly and yearly payments! I'm in the U.S. and I have a term life insurance via Fidelity Life, 20 year term, $24 / month payments or $300 yearly payments, $500K premium (PHP22 million). I would like to increate this to $1 million so that my beneficiary can invest in mutual funds (ave 10% return a year) so that the money will earn $100,000 a year.

[Mr.Punch]

anyone knows an agent from Manulife? wanna get one while im still young.. nawala na kasi yung agent na kausap ko dati

I think you can contact the number posted in their website and they can get you in touch with the sales agent nearest your area.

[ikaela]

^^Hay, I wish it was the same here in the Philippines. Insurance companies like to come out with figures and tables on how Filipinos are under-insured, pero hindi naman affordable or even reasonable ang rates nila! The $300 (P13,200) you pay is only a mere 0.06% of the $500K (P22M) coverage you get, and I really think it should be this way. Dito sa atin, $300 will only get you, what, maybe P2M at the most? And that's simple term insurance pa, so mababawasan pa yan kung whole life insurance or VUL. I don't know why insurance companies here in the Philippines aren't more competitive.

[sweet_sexythang]

Mine was life insurance with endowment and yong retirement namin is invest through stocks and uitf

[punkrockprincess]

Actually I'm on hunt for a good long term health care insurance Mxherr which most HMO dont have kasi hanggang 65 lang ang coverage nila. I've been eying for Manulife's Adam and Eve. One for my husband and I. Comparing this among whole life Plans, its just somehow the same with a little bit of tweaks. I'm hearing a lot about Kaiser Plan. Any idea? Maybe you can recommend something?

Hi sis, I am not familiar with Kaiser but I got a brochure for a new life insurance plan from AXA Life, called Health Max, which provides health coverage until 100 years old, so it goes beyond the usual coverage period of most insurance companies and HMOs. Actually, even if you already have an HMO plan, you can still benefit from this because once you get diagnosed with a covered critical illness, you will receive the cash benefit directly, so in this case, your HMO can pay for your hospital expenses and the cash benefit from your life insurance can pay for the expenses not covered by your HMO (like medicines and hospital expenses beyond the HMO limit).

Another thing that I like about this is that it covers for 56 critical illnesses, whereas other companies only cover 35. Also, there's coverage for angioplasty and CIS which are  usually excluded by others.

After studying the features and comparing my options, I think I'm already going to get Health Max from AXA, at least I am sure that I already have lifetime coverage for the most number of illnesses. Also, just to share, if you're a parent, Health Max can also be bought for children, as young as age 0, and they can already be covered for life, premiums are definitely much cheaper too.

Hope this helps.