SUNLIFE

[thesoloist]

hi i'm 29 and single and ngayon napag-isip isip ko na kumuha ng insurance and mag-invest. gusto ko kumuha ng life insurance..and at the same time gusto ko mag-invest in something that grows just in case i need a big sum of money in the future. Nasa medical field ako, and i'm working abroad. can anyone here enlighten me sa mga products ng sunlife na pwede para sakin. and please explain in layman's term hehe. thanks!

[zvillarin]

sabi sa kin ng agent ko, pag may family daw tapos yung lalake ininsured niya, ginagawa talaga niyang irrevocable, protection na rin sa family in case magloko si lalake haha

Hi sis, baka you mean revocable instead of irrevocable? Irrevocable kasi means that the policy can not be changed unless the beneficiary will sign. So in that case , like if may family ka and if one of your beneficiaries is your husband, you need to have his signature para magalaw mo ang policy mo. Any changes (major or minor) will need the irrevocable beneficiaries signature. In the case na magloko yung husband and he is labelled as IRREVOCABLE beneficiary the policy owner (in this case the wife) will have a hard time changing the beneficiary of the policy.

Kaya for us girls, better if REVOCABLE beneficiary ang husband ninyo. or any MINOR child (under 18). BUT if yung husband ninyo ang kukuha ng policy please demand na dapat IRREVOCABLE beneficiary ang label sa inyo. Para pag nagloko you can give him a hard time in getting your approval in changing the policy. iba na pag sigurado..You will never know kung kelan magloloko ang mga lalaki.

[leelou]

Kaya for us girls, better if REVOCABLE beneficiary ang husband ninyo. or any MINOR child (under 18). BUT if yung husband ninyo ang kukuha ng policy please demand na dapat IRREVOCABLE beneficiary ang label sa inyo. Para pag nagloko you can give him a hard time in getting your approval in changing the policy. iba na pag sigurado..You will never know kung kelan magloloko ang mga lalaki.

sis, i think same point lang kayo ni sis london. but it goes both ways. hindi lang lalaki ang nagloloko 

[london]

^^ yes sis, same point lang tayo. agent ininsured ang husband, beneficiary ay wife and kid.

^ yeah true, di lang lalake ang nagloloko haha

[swit_squiggle]

Kawawa naman pala si lalaki kung irrev ang inilagay tapos si babae ang nagloko. hehe. Kung kakasimula pa lang nya magbayad ng policy, im sure he will let the policy lapse knowing that in his death dalawa sila ng kabit nya ang magpapakasasa sa perang iniwan nya. lol.

Point ng mga coworkers ko bakit revocable lahat ng designation nila for their beneficiaries because they don't want to be bothered while they are still alive sa kanilang policy. mag withdraw man sila o esurrender nila, care ng beneficiaries eh, pera nila yun. Incase mamatay man daw sila, pasalamat nga ang naiwan at meron silang perang iniwanan kahit taxable pa. We'll they have a point naman. hehe

[lady_cams03]

Hi mga sis! Planning to get sunlife also. Yung merong endowment on the 6th year ba yun? What do you call that policy?

[leelou]

@swit_squiggle sis, hindi ba pwede naman mag-withdraw or surrender if irrevocable ang beneficiary?

[babythug28]

hi i'm 29 and single and ngayon napag-isip isip ko na kumuha ng insurance and mag-invest. gusto ko kumuha ng life insurance..and at the same time gusto ko mag-invest in something that grows just in case i need a big sum of money in the future. Nasa medical field ako, and i'm working abroad. can anyone here enlighten me sa mga products ng sunlife na pwede para sakin. and please explain in layman's term hehe. thanks!

sis parang ganyan yung sa min ni hubby. life insurance na may VUL (forgot ko na kung eto yung tamang term). basta habang insured kami, part of our money goes to mutual funds too so tumutubo sha in time. 10 years yung babayaran namin pero i think meron din yun 5 years lang. i'm 26 nung kinuha namin yung insurance and 24k a year yung binabayaran namin sa life insurance ko. si hubby naman 25 na sha nun and mas mataas ng onti yung annual nya. nasa 26k ata. PM me na lang sis if you want to get our agent's contact details. he's so nice and may pagpapahalaga sa client. my whole family got their investments and life insurance sa kanya.

[swit_squiggle]

The power of pen!!

That's the consequence of putting someone as irrevocable beneficiary. Hihintayin mo pa na maunang mamatay sya para marevoke kung ano ang nakasulat. With this scenario you loss control over the asset.

Hmmp..Never encountered pa naman na yung irrevocable ay pinalitan without their consent but I think it is possible if there were written instructions to the beneficiaries to allow for the terms of the policy to be modified under specific limited circumstances. Just like when you are endorsing a life policy to the creditors like the bank. Irrevocable sila only until the loan is not paid. So, kung hindi ibigay ng bank after the  term of your loan, you can file a case.

Possible but it's a long process and you might spend a fortune by doing so. May natatandaan lang ako. Kwentong aching aching lang naman. Kapag nilagay mo daw na irrev at nagkalabo-an sa huli gumawa ka na rin ng last will. Lagay mo dun ang mga wishes mo and instead na kunin ni irrev ang share nya sabihin mong you plan to donate his/her share to the charity para konsensyahin sya. hehe

[marssie]

Hi mga sis! Planning to get sunlife also. Yung merong endowment on the 6th year ba yun? What do you call that policy?

Eto yata? 

http://moneygurado.com/sun-smarter-life-elite-the-guaranteed-smart-way/

[noemi86]

Why did you choose SUNLIFE FLEXI?

[lady_cams03]

Eto yata? 

ayan nga! hehe thanks sis sana maconvince ako ng bonggang bongga ng financial adviser ko

[kukaii]

I have mutual funds investment sa sunlife since 2010. Maganda ang performance. Highly recommended. Pero you can monitor other funds sa www.pinoymoneytalk.com

Now I'm planning to get an insurance from SUNLIFE. As explained to me by my agent, recommended ang Flexilink. Non-traditional kasi.

[sis.cattleya]

Maganda nga Sunlife.  At least may mararating ang pinaghirapan niyo. 

[babythug28]

meron ba kayong health insurance sa sunlife? ang meron lang kasi sa min life insurance eh. dun sa may mga health insurance, ok naman ba?

[miranee]

sis parang ganyan yung sa min ni hubby. life insurance na may VUL (forgot ko na kung eto yung tamang term). basta habang insured kami, part of our money goes to mutual funds too so tumutubo sha in time. 10 years yung babayaran namin pero i think meron din yun 5 years lang. i'm 26 nung kinuha namin yung insurance and 24k a year yung binabayaran namin sa life insurance ko. si hubby naman 25 na sha nun and mas mataas ng onti yung annual nya. nasa 26k ata. PM me na lang sis if you want to get our agent's contact details. he's so nice and may pagpapahalaga sa client. my whole family got their investments and life insurance sa kanya.

Sis, eto ba yung flexilink? how's your monthly admin cost naman? di ba sobrang taas and nakakain nya yung fund value mo?

[babythug28]

^ sis yung sa min is Sunlife Maxilink Prime. ni-check ko yung online account namin sa Sunlife and yung Admin Charge monthly is 219.44

[miranee]

^ ah..i see. kainis kasi yung sa amin, 76k a year yung binabayaran namen for flexilink tapos 4k a month yung naging admin charge na binabawas sa fund value since start ng 2nd year namen. nung 1st year kasi nasa 1.3k a month lang. im still waiting for sunlife's reply regarding sa pag spike up ng admin fee. 

[babythug28]

^aw sis bat ganun kaya kalaki. sana next year kung nagkakaron man ng increase monthly, hindi maging ganyan kalaki yung admin charge. sayang yung fund

[mxherr5]

^ ah..i see. kainis kasi yung sa amin, 76k a year yung binabayaran namen for flexilink tapos 4k a month yung naging admin charge na binabawas sa fund value since start ng 2nd year namen. nung 1st year kasi nasa 1.3k a month lang. im still waiting for sunlife's reply regarding sa pag spike up ng admin fee.

Sounds like your agent didn't thoroughly explain the fee structure of your policy.

If I am correct that you have a Flexilink, then I can explain the hike of the monthly
charges.

Monthly admin charges is composed of COI(Cost of Insurance) + Periodic Charge

On the 1st year, the charges are 85% Premium Charge, 0% Periodic Charge and COI
So, on the 1st year, only around 11.5k would have been invested
The rest was eaten up by the premium charge which is taken off your premium RIGHT AWAY
The 1.3k admin charge is your COI

On the 2nd year, the charges are 5% Premium Charge, 50% Periodic Charge and COI
So, on the 2nd year, around 72.2k would have been invested
Your admin charges would now be composed of the periodic charge:
38,000 per year or 3.1k per month
If you count your COI of 1.3x or might have gone up to 1.4x
That would mean a monthly total of around 4,xxxx admin charges.

I hope that enlightened you.
But you can see the same information on your proposal.
You just have to really read it.