Traditional life insurance vs VUL

[mystique]

^ no seminar or medical as far as i know.. i'm based in singapore and i told my agent i'll sign everything when i go home end of the month.  yan din sinabi ko sa agent ko, i can only alot $100sgd or php 3,480 per month and that's what she proposed to me.

[leelou]

^ pareho pala tayo sis overseas! i'm meeting my agent too this September when i come home. we'll set the date pa. if everything's ok, sign the documents na rin i think they require initial payment of the 1st quarter? sis sino agent mo? ok lang pa-pm?

[riandrew]

VUL din for me.

Face amount: 1,000,000 (which I think dapat mas nilakihan ko pa)
Riders: Accidental death and Critical Illness for 500,000 each (next time na yung Disability)
27, F, Non-smoker
P5,828 per quarter

[cassiopeia]

Here is the Sun MaxiLink Prime quoted to me by my agent:

Age: 28
Gender: Female
Sum assured: 1.5M + 500k Accidental Death Benefit
Premium per annum: 40,800
Number of years to pay: 10 years
What kind of plan retirement or life insurance? VUL to be invested in 100% balanced fund

sis diba parang mahal? kasi meron quote sakin from manulife

Age: 28
Gender: Female
Sum assured: 1.250M + 1.250M Accidental Death Benefit
Premium per annum: 26, 213
Number of years to pay: 10 years
VUL product
Option to top-up.

[swit_squiggle]

meron din ang sunlife ng ganyan sis. it would depend lang kasi as to what kind of plan the client wanted. with sunlife its 26,537.50 but this kind of plan will suffer the worst when the market is super down.

[snowyice]

Alam ko mas mura ang mga insurance policies overseas kesa dito sa pinas

[swit_squiggle]

ang alam ko lang is mura sa term plans. I dont know sa may mga investment components and cash values if mas mura din. hehe. sige punta tayo ng america at kuha tayo dun. panu yun pag namatay tayo at nandito lahat ang mga beneficiary sa pinas?

[cassiopeia]

ay oo nga sa kanila kasi mas open sila sa idea ng life insurance not like here marami parin taong hindi insured.

[snowyice]

^problem na ng beneficiary yun....kuha na lang ng promo fare     Siyempre depende rin sa klase ng family meron ka and kung balak mo talaga for life sa overseas.

[cassiopeia]

i believe mas ok if balance between tradlife and VUL not vs. imo 

[bb]

just to share with everyone:

Age: 35 years old
Gender: Male, non-smoker
Sum assured: 500,000
Premium per annum PRULIFE 12,000 SUNLIFE 11,640
Riders like addw, lcbw (it is in the proposal): no riders
Number of years to pay (guaranteed or not): "lifetime" payment
What kind of plan retirement or life insurance?: variable life product

parang expensive nga ito msyado. lifetime ka magbabayad ng 12k...

[swit_squiggle]

Hi sis. i'm not in any position to say what's mahal and not sa bawat insurance policy. Each policy of different companies are designed to cater their clients needs. I agree that there are insurance policy na mas malaki ang premium compare to others but you can never say which serve you best until the outcome is there. kasi nga mas mahal man ang isa sa isa pero pwede ring mas malaki magbigay ng returns ang isa compare sa isa. mas maganda ang service ng kabila compare sa kabila. it will all varied din depende.

[health.gal]

parang expensive nga ito msyado. lifetime ka magbabayad ng 12k...

here's my opinion on that:

face amount lang yung 500K, so wala pa diyan yung projected fund value (kasi variable life product siya). then its technically a "lifetime" payment, but, after just a few years, the fund value is already enough to pay for the premiums "lifetime". aka self-support payment. i just gave the conservative info. IMHO, i think its still a good proposal (depending on the needs of the client). 

[armijd]

I got Sunlife MaxiLink Bright payable in 5 years, my agent offered me the 10 years maxilink but i asked her if there's an option to shorten the payment to 5 years and she got me this plan.

Sun MaxiLink Bright - Smoker
Gender / Age: F / 27
Face Amount: Ps 400,000.00
Accidental Death Benefit - ADB: Ps 400,000.00
Total Premium to be Billed: Ps 63,408.00 (Annual for 5 years)
Fund Allocation : 100% Balanced Fund

PROJECTED BENEFITS after 15 years

                            FUND VALUE                         DEATH BENEFIT
End of Year        8%               10%                  8%                   10%
2026              682,981         866,744           1,482,981           1,666,744


While the maxilink 10 years(36k annually) has this sample projected figures:

                            FUND VALUE                         DEATH BENEFIT
End of Year        8%               10%                  8%                   10%
2026              487,099         592,142           1,587,099           1,692,142



above are projected benefit for year 2026 which is after 15 years, pero from year 1 to year 20 yung nasa proposal talaga. the values of units are not guaranteed and will depend on the actual performance of that given period. but according to my agent lagpas 10% naman daw ang Peso Balanced
14.39%  Ave. Annual Compounded Return (for completed years)

hth

[mxherr5]

parang expensive nga ito msyado. lifetime ka magbabayad ng 12k...

I'm afraid you're looking at it the wrong way,

All VULs have premium charges which are based
on your annual premium and its akin to a frond end
sales load of a mutual fund.

So lets say the premium charge is 100% on the 1st year
and 0% on succeeding years and the annual premium is 12k.

The company is basically telling you, we'll charge you
12k on the 1st year in exchange for giving you the
priviledge of putting in money every year for life but only
up to a limit of 12k.

Any amount exceeding 12k would be charged
(Called top-up charges by the way)

And that's why health gal put the lifetime in quotation.
Its only for life if you choose to excercise your
priviledge.

[snowyice]

^hindi naman for life usually 20years lang...sinasabi lang na for life para kung bagsak yung market

[mxherr5]

I plan to pay the premium for life.
Sayang ang charges na binayaran ko.

If you look at Sunlife's Maxi VUL,
it has relatively lower premium charges
because you're only given the privilege
of putting in money for the first 5/10 years.

Pero baka mani na lang ang 20k+
premium ko after 20 years at tatamarin
na ako.. sana hindi naman hehe

[health.gal]

sis mxherr5 - thanks for explaining further. well-said

[swit_squiggle]

bakit naman tayo magstick sa 5-10 years na saving?di ba habang nagtratrabaho ka kailangan mo talagang magsave. after mong magtrabaho, dun mo maeenjoy ang nasave mo. it doesnt matter how big. because simply saving 6 pesos a day for 30 years. magkakaroon ka ng million. now, if 6 pesos is parang napakabigat sa iyo, edi say good bye na lang to your millions

[leelou]

girls, here na yun proposals from my agent:

33 yrs. old, Female Non-Smoker

a) Sun Maxilink Prime

P4,334.00 monthly Or P52,010.00
Face Amount: 1M
Accidental Death Benefit: 1M
Coverage in case of Death( double coverage): 2M
(with no additional premium)

At age 55 or 60  you can get a retirement fund of:

Fund at age 55- 8%-1.4M; 10%- 1.9M
@ age 60- 8%-2M; 10%- 3M
 
Or in case you plan to have a baby 2 years after- on the 18th Year  Accumulated FUND FOR COLLEGE of your baby:

18th yr age 16th child- Fund at 8%- 1M; 10%-1.3M                               

b) Sun Peso Provider

P5,026.00 monthly Or P60,316.00
Face Amount: 300K
Accidental Death Benefit: 300K
Coverage in case of Death (double coverage w/ no addl premium charge): 600,000.00
Terminal Illnesss Benefit (Terminally ill w/ less than 1 year to live) Sunlife will advance 60% of 300K

6%  or 18,000.00 GUARANTEED LIFETIME CHECK every 2 Years for Life starting at the end of 4th yr
Yearly Posting of Dividends (rate as of this year 5.25% net of tax)
Guaranteed 10 years paying only

At age 55 or 60  you can get a retirement fund of:

Fund at age@ 55-1.7M -Fund Withdrawable- 962,263.00 OR Fund at age  @60-2.2M - Fund Withdrawable- 1,415,602.00               

PLUS 18,000.00 every 2 yrs onwards and dividends for Life.

Or in case you plan to have a baby 2 years after- on the 18th Year Accumulated FUND FOR COLLEGE of your baby. 18th yr age 16th child (1st yr College) -P 667,517.00

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parang namamahalan ako sa premium at natatagalan ako sa paying period. i'm thinking of reducing the coverage din. what do you think girls?