Life Insurance or Retirement fund? (Thread 2)

[chefron]

hindi sya mura at hindi din sya lumalaki... for a 47yr old ang annual premium is 43k payable til age 65 tas beenfit is 1m whiche evr mauna, death or sickness

[lusciousfoxy12]

if you have dependents you should get life insurance (income proptection). if your financial goal is to build or answer your retirement need you can get an insurance for this. for me VUL is a great product for both needs. just choice the one you want to answer first or greater so the recommendation will be suited for it.

[pret_ty68]

^
may nag avail na ba dito nang freedom 20 nang manulife?

[PrincessC]

^ alam ko may isang sis tayo na kumuha nito. nasa first few pages ng thread...

[mameejhy]

Yes it is possible if you're going to insure your child rather since its cheaper because of her age

Insuring the CHILD will not secure the child's future. The PARENT/S has to get a life insurance for themselves to secure the child's future.

[momlory]

magaabroad kami ng husband ko. Before kami magabroad gusto sana namin kumuha ng insurance. Ano mas maganda mag VUL or BTID for 25 years?

Based sa mga nababasa ko kung Term Insurance pag shorter period. Pag longer period mas wise kumuha ng VUL. talking to sunlife hindi pako makapamili kung flexi link or maxi link Thanks!

[ikaela]

^Actually, both BTID and VUL are good for long-term. You would feel the difference between them depending on what type of investor/saver you are.

If you're the kind who is very hands-on, likes to oversee her own investments, prefers to have full control over what your money does and where it goes, then BTID is for you. This goes without saying that you're also the type of saver who can pay for the insurance then really invest the rest of the money instead of spending it on other things.

If you'd rather have someone manage your funds for you, have no time to follow the market/do research, and need to be reminded to save/invest, then you're better off with a VUL. I would also add here that you are the kind of person who prefers to have life insurance coverage until death.

[PetiksPinayInvestor]

Life Insurance or Retirement fund?

Both.

Determine the value of all the assets listed under your name:

Savings and Time Deposits sa Bank
Mutual Funds Investments
Direct Stock Market investments
Real estate
Car
Anything with value

Get the 20% of the total value

That's how much you should be covered at the least.

Why?

Once a person expires, the government will freeze all assets mentioned and are entitled for estate tax. Kahit po joint account ang savings account, bawal mag withdraw sa frozen account until the estate tax is paid.

The government requires the payment of estate taxes to be cash only.

Ito naman pong si Life Insurance, kapag nag expire si Insured, the family can now claim.

Timing cannot be more perfect: government wants cash payment of estate taxes, family can encash the life insurance claim.

Legal pa po ito lahat.

Para po sakin ito ang pinaka simpleng silbi ng Life Insurance.

If meron pang ibang financial goal na gustong i-attain, saka madadagdagan ang Life Insurance coverage

Bakit 20%?

Please see this link from BIR for the estate tax brackets per Net Estate:

http://www.bir.gov.ph/index.php/tax-information/estate-tax.html

[luscious_peach]

Pacific Cross health card or Sunlife Flexilink?

I have term life insurance and retirement fund (VUL). Both don't have critical illness.

[D4thAngel]

Pacific Cross health card or Sunlife Flexilink?

I have term life insurance and retirement fund (VUL). Both don't have critical illness.

Sis, better ask your advisor muna if you can still add Critical illness as a rider sa VUL mo to save you cost.

[luscious_peach]

^ I can't sis. That's the sacrifice I had to make para bigger yung investment part. Siguro I'll just go with Pacific Cross. Premium is cheaper with at least P750,000 in-patient coverage compared with getting another VUL with critical illness.

[angelholics]

^ I can't sis. That's the sacrifice I had to make para bigger yung investment part. Siguro I'll just go with Pacific Cross. Premium is cheaper with at least P750,000 in-patient coverage compared with getting another VUL with critical illness.

i agree on your point however, please also consider if the company releases money invested when needed or when it is due. i had a prudential life plan before and sadly wala na sila. WALA din ako nakuha.. i waited for 15 years for nothing. lesson is, avail their insurance not only because they are cheap but also look for its reliability..

i paid for a total of 70k pesos way back year 2000.

[luscious_peach]

Grabe sis, sayang yung P70K. I'm pretty satisfied naman with Philam. Nakakuha na ko ng benefits sa kanila thru my son's educational plan. So I sticked with them for my retirement fund. Thanks sa input sis

[jnoble]

Mine was Philam din. Sobrang ganda nung vul nila, ang taas ng coverage and so far wala pa akong nakitang ganun kataas na coverage. VUL for me is the best investment plan kasi it can be used for anything either if we die too soon our family can get the insurance portion, if we live too long naman we can use the money as retirement fund, if we want to save money for the education of kids in the future naman vul is also a good vehicle. so for me no need to choose if life insurance or retirement fund kasi pwede naman both.

[ece]

both din ako! the earlier the better pati. 

[martiella]

Sis anong vul ang kinuha mo sa philam? How much ang monthly mo?

[jnoble]

Hi sis, my vul in Philam was called WMFA Plus, eto yung name nya when I get the plan from my hubby's company (I think Family Secure ang name nya sa Philam). 24k/year ang binabayaran ko sis. Then nung kumuha ulit ako ng another investment, may bumalik sakin na parang discount (or should I say commission?) kasi 2nd account ko na sya.

[mameejhy]

FYI, Family Secure is different from WMFA Plus

[wifey]

Mga sis, pwede bang ichange beneficiary classification from revocable to irrevocable? Prulife plan holder here. Thanks!

[D4thAngel]

^Pwede yan sis. Fill up ka lang ng policy change request.