SUNLIFE

[sweet angel]

^thanks.  Will consider vul then

[mrscardenas2011]

SHARING ANSWERS OF MY AGENT RE MY QUERY

I have a few clarifications, please let me know if I understand the plan correctly.

1. From the illustration in table under Premium Holiday Illustration, is it true that in the event that the investment is performing at at least 4%, the plan can already pay for itself in the 11th year until the end of the plan and that i dont have to pay the 4k/mo?​ - not until the end of the plan but for 48 years​, until you are age around 81 yrs old. it's written on the same page below the illustration.

2. If I reach the age of 65 yo, can I withdraw the "investment" part and dividends as my retirement funds? And still be covered with insurance of 2M and other riders? If I withdraw the investment money, do I have to pay for the 4k/mo again until age 88 yo?​ - refer to your "investment" part as fund value and not dividends. ​yes you may withdraw your fund value. however, if you withdraw your whole fund value, you terminate your plan. if you withdraw partial only, as long as your fund value is still enough to pay for your charges, you don't have to pay anymore. if your fund value becomes insufficient, then you'd have to continuously pay. riders TDB is until age 65 while ADB is until age 70.

3. If I cant withdraw the investment and dividend part --what is considered as my retirement fund, which is the thing that I am after here? And at what age can I get it?​ - first question is answered in question #2. ​you can withdraw as early as year 2 but your fund value is still very insufficient. and would strongly suggest use the fund value as your forced savings for your retirement which is for long term talaga.

4. In the event that I dont get to live until 65 yo (or whatever age that I can pull out my retirement funds), will my beneficiaries get the 2M plus the investments plus dividends?​ - yes. if you look ​at your death benefit column, it's face amount PLUS fund value. i emphasize this coz other companies is whichever is higher only.


Follow up question on #2:

2. If I reach the age of 65 yo, can I withdraw the "investment" part and dividends as my retirement funds? And still be covered with insurance of 2M and other riders? If I withdraw the investment money, do I have to pay for the 4k/mo again until age 88 yo?​ - refer to your "investment" part as fund value and not dividends. ​yes you may withdraw your fund value. however, if you withdraw your whole fund value, you terminate your plan. if you withdraw partial only, as long as your fund value is still enough to pay for your charges, you don't have to pay anymore. if your fund value becomes insufficient, then you'd have to continuously pay. riders TDB is until age 65 while ADB is until age 70.

Since i dont want to live longer than 75 yo and want to enjoy life in a cruise for 5yrs LOL,​ retirement​ can I terminate the plan at say 71?​ --- yes you may​ How much do i get then? ​- depends on the performance of your fund value ​Do i get the 2M + fund value? ​--- no, fund value ​only. 2m is on death only or do i have to pay certain charges for terminating the plan?​ --- no, you just withdraw all of your fund value​.

[mxherr5]

^
Also once you reach age 88, you won't have a choice.
The plan will mature/terminate then.

[Lianne@TheWiseLiving]

@Lianne -

Examples:

1. I invested 100k today and I die after 10yrs - How much is the death benefit?
2. I invested 100k today + added 10k in 2015 and I die after 10yrs - How much is the death benefit?
3. I invested 100k today + added 10k in 2015 + withdrew 5k in 2016 and I die after 10yrs - How much is the death benefit?

Thanks.

Sis,

As I mentioned, the death benefit = 25k + fund value at the time the death is reported. We can only give projection because a part of the death benefit relies on the fund performance. If after 10 years and the fund's doing well, then the death benefit can be 25k + >100k. If it's not doing good at the time of your death's report, then it can be 25k + <100k. The same can be said in items 2 & 3, only projections. Sun Flexilink1 is more on investment; the added insurance component is only a bonus.

^thanks

Still thinking if vul or term and invest in Mutualfund.  I heard that it would be hard to do tops ups for the vul if OFW.

Hi sis, Sun Life advisor here, as what another poster has mentioned, you can easily do top-ups via your online bank accounts in BPI/BDO. You can automate it also.

SHARING ANSWERS OF MY AGENT RE MY QUERY

I have a few clarifications, please let me know if I understand the plan correctly.

1. From the illustration in table under Premium Holiday Illustration, is it true that in the event that the investment is performing at at least 4%, the plan can already pay for itself in the 11th year until the end of the plan and that i dont have to pay the 4k/mo?​ - not until the end of the plan but for 48 years​, until you are age around 81 yrs old. it's written on the same page below the illustration.

2. If I reach the age of 65 yo, can I withdraw the "investment" part and dividends as my retirement funds? And still be covered with insurance of 2M and other riders? If I withdraw the investment money, do I have to pay for the 4k/mo again until age 88 yo?​ - refer to your "investment" part as fund value and not dividends. ​yes you may withdraw your fund value. however, if you withdraw your whole fund value, you terminate your plan. if you withdraw partial only, as long as your fund value is still enough to pay for your charges, you don't have to pay anymore. if your fund value becomes insufficient, then you'd have to continuously pay. riders TDB is until age 65 while ADB is until age 70.

3. If I cant withdraw the investment and dividend part --what is considered as my retirement fund, which is the thing that I am after here? And at what age can I get it?​ - first question is answered in question #2. ​you can withdraw as early as year 2 but your fund value is still very insufficient. and would strongly suggest use the fund value as your forced savings for your retirement which is for long term talaga.

4. In the event that I dont get to live until 65 yo (or whatever age that I can pull out my retirement funds), will my beneficiaries get the 2M plus the investments plus dividends?​ - yes. if you look ​at your death benefit column, it's face amount PLUS fund value. i emphasize this coz other companies is whichever is higher only.


Follow up question on #2:

2. If I reach the age of 65 yo, can I withdraw the "investment" part and dividends as my retirement funds? And still be covered with insurance of 2M and other riders? If I withdraw the investment money, do I have to pay for the 4k/mo again until age 88 yo?​ - refer to your "investment" part as fund value and not dividends. ​yes you may withdraw your fund value. however, if you withdraw your whole fund value, you terminate your plan. if you withdraw partial only, as long as your fund value is still enough to pay for your charges, you don't have to pay anymore. if your fund value becomes insufficient, then you'd have to continuously pay. riders TDB is until age 65 while ADB is until age 70.

Since i dont want to live longer than 75 yo and want to enjoy life in a cruise for 5yrs LOL,​ retirement​ can I terminate the plan at say 71?​ --- yes you may​ How much do i get then? ​- depends on the performance of your fund value ​Do i get the 2M + fund value? ​--- no, fund value ​only. 2m is on death only or do i have to pay certain charges for terminating the plan?​ --- no, you just withdraw all of your fund value​.

Hi sis, Sun Life advisor here:

1. Yes, as seen in the projected illustration, your fund value can absorb the monthly charges already. But, keep in mind that this will reduce your target investment fund na for retirement sana.

2. VUL is a non-participating plan, so it doesn't have any dividends.

Withdraw whole fund value amount = plan terminates, you won't be covered anymore
Withdraw partially = as long as your fund value can "pay" for the monthly charges, no need to add
Withdraw partially = if your fund value isn't enough to "pay" for the monthly charges, you need to add

You can terminate at age 71 by withdrawing the whole fund value. You'll get the investment part only, so the amount you get depends on the fund performance.

3. You can withdraw the investment part and use it for your retirement at age 71.

4. Yes, they'll get 2M + how much your investment fund value is at the time your death is reported.

[Tootsie31]

I reviewed my online Maxiprime account.
May amount sa "Regularly Billed Excess Premium"
So if I am paying 60k annually (merong nakasulat na 5k sa "Regularly Billed Excess Premium", regular premium ko is 55k)
Does it mean na yung insurance payment ko is computed dun sa regular premium ko then pang stocks lang yung amount na asa "Regularly Billed Excess Premium"?
TIA

[mxherr5]

The regularly billed excess premium is just another word for
regular top-ups. Take note that there's a top-up charge.

And everytime you top-up, your insurance coverage goes
up and the insurance charges would also go up to compensate.

You can review your proposal to find out how much the top-up charge
is and how a top-up would affect your insurance coverage.
(I don't have a proposal handy but the insurance coverage usually
goes up by 125% of your top-up)

[gypske]

mga sis if I get either Sun life assure or Sun Saver Life, will I get something back after the 5 or 10 year term?

[mameejhy]

^None, because they are term life insurance.

[Lianne@TheWiseLiving]

I reviewed my online Maxiprime account.
May amount sa "Regularly Billed Excess Premium"
So if I am paying 60k annually (merong nakasulat na 5k sa "Regularly Billed Excess Premium", regular premium ko is 55k)
Does it mean na yung insurance payment ko is computed dun sa regular premium ko then pang stocks lang yung amount na asa "Regularly Billed Excess Premium"?
TIA

Hi sis. Sun Life advisor here. 

On your regular premium of 55k, a part goes to investment; another part goes to insurance.
On your regular excess premium of 5k, this is added on your investment fund.

For Maxilink Prime, top-up charge is 5%.

Every time you top-up, your fund value increases, so your death benefit increases also.

Death benefit = insurance coverage + fund value at the time the death is reported

mga sis if I get either Sun life assure or Sun Saver Life, will I get something back after the 5 or 10 year term?

Hi sis. Sun Life Assure and Sun Safer Life are term life insurance. When the 5/10-year term ends and you're still alive, you won't get anything back na.

Term life insurance is like "renting" your protection.

It's like renting a house = huhulugan mo so you can be protected. Kapag nag-stop hulog mo, stop na din ang protection.

[sweet angel]

What is the difference bet maxilink ang flexilink? Which one you choose? Why?

[mxherr5]

Flexilink has in general bigger charges and longer paying periods
while Maxilink has lesser charges and shorter paying periods.

[sweet angel]

^ maxilink ang kinuha mo from sunlife?


anong rider ang pinadagdag nyo?

[mxherr5]

Nope, Flexilink.
There wasn't a Maxilink that time yet.

No riders but I did think about adding
a critical illness and accident riders
(There would have been a policy
change fee)

But I ended up getting a yearly renewable
term policy instead with those riders.

[sweet angel]

^thanks.

i'm getting a vul from sun life but can't decide if maxilink or flexilink. i will not add some rider.

[Tootsie31]

Thanks @mxherr5 and @Lianne@TheWiseLiving for your answers.

So it is advantageous if ganun ang setup na 55k regular premium and 5k regular topup than 60k regular annual payment kasi tataas ang fund value and death benefit...

My new inquiries are:
- Possible bang pataasan ko na lang yung regular topup, like 50k regular premium then regular topup is 10k?
- Every topup sa maxiprime is 5% lagi kahit na 0 yung regular topup, right?


TIA!

[Chrischeliahxine]

Hi newbie here!
just want to ask may agent kasi na nag alok sakin ng sunlife insurance still confused pa din ako. Inaalok niya sa akin yung 1M na insurance pero quarterly ang bayad wala bang monthly payment sana para hindi mabigat sa bulsa? And pwede ba ako mag start muna sa maliit lang then pag may extrang budget mag aadd nlng ako sa payment ko para hindi naman masyadong mabigat and para kahit papano tumaas naman yung benefits na makukuha ko? Thanks.

[jazzygelable]

My dad got a Sunlife life insurance plan for P10M. We were kinda surprised kasi malaki masyado and he doesn't want to say which plan it is. May ganun bang plan sa Sunlife? What's the name kaya mga sis.

[cheezecake]

wala naman limit ang plans as long as you can pay the premium. Most of my sis in laws client 50M ang coverage na kinukuha

[mxherr5]

Hi newbie here!
just want to ask may agent kasi na nag alok sakin ng sunlife insurance still confused pa din ako. Inaalok niya sa akin yung 1M na insurance pero quarterly ang bayad wala bang monthly payment sana para hindi mabigat sa bulsa? And pwede ba ako mag start muna sa maliit lang then pag may extrang budget mag aadd nlng ako sa payment ko para hindi naman masyadong mabigat and para kahit papano tumaas naman yung benefits na makukuha ko? Thanks.

Bakit hindi mo tanongin agent mo?
Kung hindi ka naniniwala sa sagot nya, maghanap
ka na ng iba. Mahirap yan.


May monthly payments, mpa VUL or yung traditional
insurance. Sa traditional insurance, mas malaki ang
bayad kung mas frequent ang iyong payments.
Ibig sabihin, mas malaki ang bayad mo pag monthly,
tas quarterly, tas semi annual. Walang dagdag pag
annual.

Sa VUL pwede kang mag top-up.

[jazzygelable]

^sis thanks for answering. his cash out is P10M but coverage he says is P20M daw. i just want to read more about the plan he got so hopefully ill know the specific name of the insurance product. ill just check their website siguro.