Traditional life insurance vs VUL

[whitebishop]

i'd go for VUL.  ang stocks naman pag long term it goes up usually. babagsak lang ang stocks pag palugi na ang company

[phurple0515]

i was thinking naman, is getting mutual funds or buying stocks better than getting the VUL?  i mean considering like, the returns you can get after 10 yrs or so....

hati pa rin tuloy ako, hehhe, gusto ko nga talaga na VUL initially pero when I saw the difference on the returns after a year, i shifted to the trad.  pag gusto ko na kasi ng VUL, i have to get another policy na for that, so parang doble.

[swit_squiggle]

Well you can't compare returns of mutual funds/stocks vs. returns of VUL as comparing this two is like comparing an apple to banana.

Scenario 1:

Invested 100,000 sa mutual fund, after a year it gained 30%. Your mutual fund is now 130K. At the end of 2nd year namatay ang investor. Beneficiary will receive all the proceeds  after 1 or 2 years less pa sa mga tax na babayaran.

Scenario 2:

Policy holder bought a plan with 1M coverage paid only 25K for the whole year. Fund balance at the end of the year is only 9K. Paid another 6250 for the first quarter of the second year, namatay ang insured. After 7 banking days, ang 1M + Fund Value nareceive agad ng beneficiary.

[dyosabel]

sis how much life coverage and magkano daw projected makukuha at retirement age?

Para saken ba tong question?

Covered ako until age 99. projected is 8M. Baka hindi ko kunin. Namamahalan pa kasi ako. Kunin ko nalang muna siguro yung term insurance ng insular. Ten years to pay @ 8k+ semi-annual. Tapos on the 20th year, pag walang naganap saken, makukuha ko lahat ng binayad ko plus interest. 20 yrs. nga lang ako insured. Pero renewable naman at ang maganda is same amount padin ang babayaran ko

[tayntayn]

finally ulit, natapos ako sa backread dito, and guess what, naguguluhan tuloy ako kung VUL or trad life or yung may endowment ang kukunin ko for myself. okay sana yung may endowment pero parang mahal pa rin kaya may konting apprehensions. still waiting for other proposal kung VUL naman ang kukunin ko..

@sis swit, hahahayy.. naguluhan na naman ako. hehe

[artificialstar]

may whole life insurance po ako. yung face amount nya is 500k. monthly po nito is 1.5k and 20 years to pay. yung sa friend ko, VUL ang kinuha nya. yung face amount is 1M, monthly nya is 2.2k and 10 years to pay lang. and both our plans are until age 85.

parang the same lang yung benefits namin ang difference is parang mas mahal yung insurance ko. akala ko mas mahal pag VUL or hindi good deal ang insurance na nakuha? enlighten me mga sis 

[chefron]

With vul di mo masasabi talaga na 15 years ka lang magbabayad, you have to consider yung fund value

[artificialstar]

^ so for example, na hospitalize ilan po ang ibibigay pag VUL? Depende po ba sa face amount or sa fund value?

[swit_squiggle]

Dito ka pala nagpost ng question mo sis. Ibang rider ang Hospital Income Benefit or for some plans innate ito. but with VULs, most plans, you need to add it as a rider and pag nag add ka additional cost ito. Income is dependent on the face amount/ coverage.

[kirei_me]

haay salamat! natapos ko din magbackreading! pero naguguluhan pren ako kung traditional or Vul ang kukunin ko.

[beautywhite]

 what VUL offer is the lowest among the insurance firms around? Annually/Monthly?
 

[mameejhy]

pero naguguluhan pren ako kung traditional or Vul ang kukunin ko.

Ano ba ang kailangan mo? Start from there.

[mxherr5]

 what VUL offer is the lowest among the insurance firms around? Annually/Monthly?

Prulife has one of the lowest annual premiums for VUL products around.
But take note that most VULs have a monthly admin/policy fee which is
fixed regardless of the premium amount.

So, for example, you'd be paying 1.2k per year if your premium is 12,000 per year
or 120,000 per year. In other words, lugi ka kung mababa yung premium. Mas malaki
percentage wise ang nababayaran mo sa fees.

[princess_in_bloom]

hi sisses, pag me PCOS KA, need mo ba i declare yun sa insurance na kukunin mo?

[swit_squiggle]

Yes sis. I had a dermoid cyst which is actually an abnormal cell growth which I dont know when it developed. I declared it when I applied for a policy, so far, pinagsubmit lang naman ako ng result of the ultrasound and the information of my OB. Although mas mahaba ang processing yung importante alam nila. kasi pag di mo sinabi yan and within the contestability period something happened because of it, yan pa ang maging dahilan na hindi nila ibigay ang proceeds sa beneficiary. :-)

[princess_in_bloom]

^thanks, swit_squiggle. yup, sabi nga ng agent ko need ako submit ng ultrsound ko, kaya lang baka tanggalin yun life care benefit daw. anyway, mas maganda na un umpisa, maayos lahat kesa nalusutan mo naman pero in the end ma void lang yun insurance ko. sana naman me maconsider pang amount para dun, but not totally zero.

[mxherr5]

just to set the record though, if na "lusutan" mo sila
which in this case means that they didn't discover that
you left something out within 2 years then they cannot
void anything.

one of the primary differences between life and property
insurance. sa life insurance, after 2 years has passed they
cannot use any excuse. they pay period.

that doesn't cover the riders though.

@swit, does the contestability clause apply to riders too?
I don't have any riders yet eh..

[bebeloo]

mga sisses naguguluhan din ako, pls help. example, ang maxilink mo is initially payable for 5 years.. ano ba ang indicator na need mo pang magextend ng paying year? at magkano ba dapat ang maibayad mo para masabing nabayaran mo na nang full yung policy mo? my personal opinion kasi on VULs, ok sya dahil may nakakabit na investment, pero scary yung concept na ang fixed lang is yung face amount and the rest are "variable" na - paying years, premium, benefits. hope you can enlighten me. ang sakit na naman ng ulo ko kakaintindi sa insurance. til now hindi pa rin ako makapagdecide kung ano ang kaya kong icommit and risk. huhu ;(

[riandrew]

example, ang maxilink mo is initially payable for 5 years.. ano ba ang indicator na need mo pang magextend ng paying year?

are you referring to MaxiLink - Bright? sabi ng nanay ko, pag MaxiLink Bright, guaranteed 5 years to pay.

actually yan din gusto ko kunin!

[mxherr5]

@rian, whoa! I seriously hope your mom isn't an agent because
if she is then she is giving some big dangerous information to her
clients.

Its actually in the proposal, bold and italized:
*Premium payment period of 10 years is not guaranteed. You may still be required to pay additional premium after 10 years if the fund
value is insufficient to pay the charges.

@bebeloo, as long as your fund value is sufficient to pay for the monthly
charges then there's no cause to worry. If its depleted then you'll be ask
to add more.

to say that you don't have to worry about paying premiums in the future,
you can move funds over to money market whose NAV only goes up (for the
most part) Enough funds to pay 1 year's worth or the entire policy's worth of
future charges, notice I didn't say premium. That's because you only need
to have enough to cover the charges which in this case is the cost of insurance
charge.

That's the trade off. You want guaranteed? Then go get Whole Life. Its not exiting.
Its very safe.
If you want potential big wins then VUL is where is at.

Hope that helps.