SUNLIFE

[swit_squiggle]

sis, i was given an option,. pero ayun nga yung naisip ko bigla, kung lifetime payment siya, hindi ko kasi naisip nun kung mawalan nga me ng work. :-( nakita ko nga din sa contract yung 15 days na yun..

Regarding the plan you get sis, pwede kang maglagay ng top-up or excess payments to your current premium para ang possibility na hindi ka na magbayad at the end of 5 or 10 or 15 years is possible. Kaya nga tinawag na Flexilink because its very flexible. e.g. your premium is 10K/year flat. gawin mong 20 or 30K per year. Ganoon lang naman napackage ang mga short paying VUL's like Maxilink Prime and Maxilink Bright.

Another question:
 pero at the age of 45 for example, pwede mo ba makuha yung nainvest ko at terminate the policy na lang.

Yes. At any point in time you can terminate your policy. Mapa VUL or Traditional man yan. You as the policy holder have all the right. Unless you put the beneficiary na irrevocable.

[freelancer_babe]

sis, if you realize na you can no longer pay for it at  the age of 40 at nagigipit na talaga pero ayaw mo mabawasan yung cash value from the mutual fund, we can withdraw naman and terminate the policy na lang? parang mali kasi ata ako ng nakuhang policy, hindi ko naisip yung idea na if ever mawalan ako ng job (hwag naman sana), at hindi ko na mabayaran since lifetime nga siya.

bakit ayaw mong mabawasan? hehe.

sooner or later di naman talaga kakayanin bayaran ang premiums, so the cash value should be helpful in paying that.

most rin naman ng kumuha ng VUL, they won't be able to pay when they reach retirement age... this is where the cash value should come in handy.

as swit_squiggle had said, pwedeng mong i-decide na iterminate ang policy unless the beneficiary is irrevocable (in that case the irrevocable beneficiary listed should approve the termination).

[gorgeouschef]

Ahhh.. thanks so much sisters for your answers. naliwangan ako. twing magkikita kasi kame ng agent ko eh mga kulang akong questions. 

and sis Bb, I'll see you soon. :-)

[bb]

Ahhh.. thanks so much sisters for your answers. naliwangan ako. twing magkikita kasi kame ng agent ko eh mga kulang akong questions. 

and sis Bb, I'll see you soon. :-)

sige sis. thanks!

[newstyle]

This may be OT. Just curious about irrevocable designation sa insurances.

[freelancer_babe]

^ I think it's not OT.

For one, irrevocable beneficiaries don't get to pay estate taxes upon the death of the policy owner. Paying estate taxes could be seriously expensive.

Second, the policy owner cannot simply change/remove irrevocable beneficiaries. My agent told me that, should I wish to change the irrevocable beneficiaries, an approval has to come from them. This is so unlike having revocable beneficiaries in the policy where the owner of the policy can just change the beneficiaries anytime he wants to.

If you still think you will still undergo changes in life such as marriage, having more children, annulment, and other similar scenarios, then it's best to have revocable beneficiaries.

If you are quite old enough and/or are sure enough that there won't be any changes in your life, then go ahead and declare irrevocable beneficiaries so the beneficiaries get more.

[swit_squiggle]

Freelance_babe is right.

irrevocable
1. tax free proceeds. kung one million ang insurance, buong one million din ang makukuha
2. Policyholder shares the right to the irrevocable beneficiary ano man ang meron siya sa policy. He can't withdraw, he can't change ng basta-basta sa beneficiaries. lahat may consent ni irrevocable beneficiary still subject to court proceedings if gusto talaga palitan, kailangang may grounds or kailangang hintayin mauna mamatay si beneficiary kaysa kay insured.

revocable
1. taxable - yes! 1M makukuha ng beneficiary pero ipapasa ng insurance company ang list of beneficiaries who received taxable proceeds. Kayo mismo ang pupunta sa BIR to pay taxes.
2. free to do whatever you want with your policy. no need for consent.

[confuse]

i need your advices naman.

i'm currently coordinating with a sunlife advisor. after reading all your inputs, parang ang dating sa akin eh sya din yung isa sa mga typical na sales ang habol kasi parang andami nya di na-explain sa akin.

i was asking her before ano difference ni maxilink kay flexilink sabi nya 10years lang daw si maxi and that is the only difference. yun pala magkaiba ang admin costs nila. basta ang bottom line is highly recommended nya si flexilink without clearly giving the differences.

help me decide on what plan to take. here are the criteria:

1) priority is to get an insurance for me and hubby
>since flexilink and maxilink offers life + VUL parang bonus na sa amin yung VUL as investment na din. question is what are the differences of maxilink and flexilink?

2) as much as possible payable for 10 years
>parang ayoko na yata i-prolong ang agony sa pagbabayad more than 10years parang gusto ko relax na ako sa bayaran by then. pag sinabi mo ba 10 years plan hanggang dun na lang ang bayaran? parang may nababasa ako lifetime ang bayad? eto ba si flexi and maxi din?

3) interested with endowment fund as well
>i inquired to her this pero sabi nya mas ok daw ito sa younger generations sa age ko daw eh not applicable na ito. gusto ko kasi sana yung may makukuha ako after 10 years and every other year as pension na din

4) mas cheaper ba endowment fund plan pag sa 1 year old pinangalan? yung plan computation ba ay dependent sa age? intend ko sa son ko na lang kung mas mura premium pag infant ang age.

thanks in advance!

[swit_squiggle]

If it's a typical sales getter approach, ask more questions sis. That way, you can assess how well verse is she/he with the products the processing etc. It's your hard earned money, all privilege and right nasa sa iyo. Before ka magdecide itanong mo na lahat2.

Flexilink is the older brother of Maxilink Prime.  Laging tandaan, kahit san mang insurance company, VUL's don't guarantee the paying years na fix. Returns are not guaranteed at the same time - its market to market value. Top-ups are charged by 5%.

Flexilink
1. design siya to pay lifetime with provision na  paikliin pero mag totop-up ka ng malaki.
2. mas marami ang pwede mong einclude na riders.

Maxilink
1. twice the face amount ang insurance.
2. designed to pay 10 years kasi included na sa premium ang top-up.

If you want not to pay na after the X number of years, lakihan mo lang ang top-up sis. that will solve the problem.

[babynibok]

im happy to share that i finally made a decision to get Flexilink VUL.  Im 33 right now..

[babythug28]

ours is Maxilink (prime)..10 years to pay, 2nd year na namin to. may VUL na kasama and hopefully magamit for our retirement or for college ng mga bata. i just turned 28 and we're happy na nakakaipon na kami ngayon for our future.

[swit_squiggle]

i need your advices naman.

3) interested with endowment fund as well
>i inquired to her this pero sabi nya mas ok daw ito sa younger generations sa age ko daw eh not applicable na ito. gusto ko kasi sana yung may makukuha ako after 10 years and every other year as pension na din

4) mas cheaper ba endowment fund plan pag sa 1 year old pinangalan? yung plan computation ba ay dependent sa age? intend ko sa son ko na lang kung mas mura premium pag infant ang age.

thanks in advance!

Already answered the first few questions.

Endowment is a repackage time deposit savings plan with insurance.

Endowments are cheaper kung ang insured ay bata pa. and mas mamamaximize ang return kasi imagine mo lang na until age 100 ang pay-out ng bonus. So if you get it for a 1 year old 46 years siyang makakatanggap ng endowment pay-out vs. kung ang insured is 30 years old  32 years lang ang tatanggapin niyang endowment. a difference of 5-10K in yearly premium.

But Take note! Endowments are not good for protection purpose. It's just an add on benefit for capital preservation and this will be the last plan na kukunin kapag fully protected na ang both parents.

One more thing endowment plans are expensive and let's assess our paying capacity na din. Will you able to pay the premiums for the next 10 years? Once hindi na kaya ang premium, napakaliit na lang ang makukuhang balik na pera.

Congrats babythug28 at babynibok. You just made a big leap in protecting your family's dreams. 

[pinkaboo]

hi babythug28 and babynibok, curious lang ako. how much yung premium na kinuha ninyo? And how much face value niya. I just want to see how much and yearly ng 10 years to pay lang.

[babythug28]

check ko yung file ko later sis about sa face value (senior citizen moment sorry)
sa kin 24k annually (pero semi-annual mode of payment namin)
kay hubby is 26k naman. he is a year older than me.

sinabi kasi namin sa agent that time na kung pwede 2k lang a month. so yan yung naging premium namin. pero kung keri mo pa ng mas malaki, pwede. i'm not sure lang kung pwede 1k/month (so 12k annually). pero yung premium mo (according to our agent), will depend on you and your capacity to pay.

[yanmae]

@swit_squiggle - sis ask ko lang kung pwedeng pang palitan yung rider? I have two riders kasi yung hospital allowance saka total disability. Gusto kong palitang yung hospital allowance ng maternal benefit, naalala ko kasi na bata pa ako at malaki pa ang possibility na manganak. (By the way, rider ba ang tawag sa nabanggit ko. Sorry di ko kasi alam mga terms ehh )

[yanmae]

@ babythug - sis, magkano ang marereceive nyo na endowment? Pwede ba jan 1,500 monthly? sayang kung pwede, sana yan nalang ang kinuha ko. Ang pinakita kasi ng agent 5,000 monthly or 60,000 annually na may endowment. Sinabi ko kasi sa kanya na gusto ko may mutual fund din na kaya kong bayadan, ang binigay nya ay yung flexilink 85. Sana ito nalang, mukhang mas maganda kasi ito. That time din kasi di ko pa alam ang endowment, dito ko lang nalaman. hehe

[leelou]

^ sis, same sa endowment plan ko. nasa 5K yung monthly for 10 years. tapos nag-invest na lang ako separately sa ibang mutual funds hubby has Maxilink Bright na 5 years naman yun and around 4,500 monthly.

[babythug28]

face value ng sa min sis (Sun Maxi Prime, 2k/month for me, 24k/month for hubby) is P500,000 both.

ok, so hindi ko alam saang part dito sa policy makikita yung endowment (help?) ngayon ko lang talagang binulatlat yung policy kakabasa sa thread na to hehe. 

@yanmae - alam ko yes, pwede ang P1,500/monthly. dapat nun, inaalok sa min ni agent is 3k/month para in 10 years meron na sigurong enough for college fund ng panganay. eh tingin namin hindi na kaya ng budget so nagstick na kami sa 2,000/monthly. pero nag-ask din ako sa kanya kung pwede 1,500/month, sabi nya yes. ang kaso, hindi namin maaabot yung goal amount namin kung ganun lang huhulog namin for 10 years.

[babynibok]

@pikaboo the premium i think of the actual is about 25K+/annum but since may top up for mutual funds more or less *2 of that [textspeak!] kinuha ko...

i plan to gain from teh investment kase kaya dinagdagan ko

[swit_squiggle]

@swit_squiggle - sis ask ko lang kung pwedeng pang palitan yung rider? I have two riders kasi yung hospital allowance saka total disability. Gusto kong palitang yung hospital allowance ng maternal benefit, naalala ko kasi na bata pa ako at malaki pa ang possibility na manganak. (By the way, rider ba ang tawag sa nabanggit ko. Sorry di ko kasi alam mga terms ehh )

With VUL's you can add, delete or reduce the face amount. However the rider that you are inquiring is not available na eattach sa VUL's. That's a stand alone plan Sun Milady.

Tama si babynibok, if you plan to gain more sa investment portion you can top-up or you can continue paying even after the required years of payment. This is done to supplement retirement or education or any personal endeavor that requires money in the future.