SUNLIFE

[babythug28]

you can check online if you already have an online account with sunlife or check your previous premium due dates if you have any

[smm_0411]

Thanks sis, 2nd payment ko pa lang kasi. Yung first payment ko last oct. San ako pwede mag apply ng online with sunlife?

Update- I just applied sunlink online and just took few minutes to register. Mas okay dahil madali I-monitor ang premiums and may enotices pa.

[rae]

I tried to compute all the charges in the proposal (yung nasa super liit na font na mala-footnote)

Premium Charges (1st 5 years) + Monthly Charge (1st 5 years) + 2% fund value (annual) + insurance charge (na hindi stated ang rate per year, to be determined by the Company) =

At least PhP 86,000 lahat. This is for the 10 years to pay na insurance, PhP 55,000 annual premium na 2M yung death benefit.

So, parang Php 8,600 ito a year + yung insurance charge na di sinabi ang rate dun sa proposal.

Now, madaming agents sinasabi na kapag term yung kinuha mo, parang nagtatapon ka ng pera. E ganun din naman pala sa VUL. Parang nagtapon ka ng 86,000.

What is worse here is yung premium charge on the first year is 65% of the annual premium. So. does that mean na sa first year mo, 19k+ lang ang ininvest?

Mukhang mas ok ang BTID, it seems.

[ikaela]

^Thank you for posting this, I am going to link to your post every time someone asks me why I chose BTID over VUL.

And the charges aren't even really just limited to 10 years. The fine print reads that in case your fund value isn't enough to cover the charges, you have to make additional payments, or otherwise, you stand to lose BOTH your insurance and investment! If the purpose of getting insurance is to mitigate risks in life (read: you are guaranteed insured even if your investments go downhill), it is lost in a VUL.

The fund management fees and insurance fees also continue to be charged to you for the ENTIRE duration of the policy or your WHOLE life (not just in those 10 paying years). The fund is continuously being managed so of course the managers need to get their pay. You are also continuously insured, so the cost of that insurance is deducted from your fund value every year. Of course, the older you get, the higher the cost of the insurance and the higher the charges to your fund value.

Getting a VUL is not "you pay for 5, 10, 15 years, tapos insured ka na for life." Bayad ka pa rin ng bayad for that life insurance through selling shares of your fund that you have no control over.

But then again, when I tell this to someone and he/she says, "Okay, ayaw ko na VUL, mag-BTID na lang ako." Tapos ayaw pala aralin or intindihin yung ibang types of investments, kesho magulo daw, walang oras aralin, or "sobrang alien language". Eh yun na ang mahirap -- if you don't have time even for yourself and your future, eh mas-lalo na I don't have time to hold your hand. Ang bagsak eh VUL pa rin ang dapat sa kanya.

[Baby Madeline]

Hi everyone! Just want to ask the process on how to update your civil status and married name with Sunlife, i.e. Requirements, etc. I'm presently based overseas and I haven't received a reply yet with my email inquiry. Pinapahanap ko pa yung calling card ng agent ko so I can email her na din. Thank you!

[mxherr5]

So, parang Php 8,600 ito a month + yung insurance charge na di sinabi ang rate.

You mean 8.6k/year right?

Sunlife has no qualms about disclosing their COI(cost of insurance) rates.
I have the male non smoker table back when I compared VUL vs BTID.

You should read starbitee's linked article. I came to the same conclusion
years ago when I got my Sunlife VUL.

Considering a regular pay VUL and BTID, at age 65 Sunlife's VUL would
always come out ahead.

I do not know if the holds true for limited pay VUL

[rae]

Hi mxherr5, thanks, yes 8.6k a year, I corrected it na.

Yup, I read it, and I still prefer BTID.

There are term insurance policies that are fixed for the whole term, say 10 years. Manulife's basic life term insurance is less than 6k.

Sa first year, kung BTID: 55,000 less 8,000 (term, illustration purposes) = 47k. You can invest 47k na agad with sunlife's MF. I don't see how the performance of the MF for those units bought through VUL would be different sa MF na sunlife din naman. Ang invested amount sa 55k mo on your first year is around 19k+ lang

On the second year, ang charge ng VUL is 40% + 5% premium charge + whatever insurance charge na nag-iincrease din naman as you age. It means the invested amount sa 2nd year is at the maximum 30k+ lang. Kung BTID ka, around 47k ulit maiinvest mo. And we all know na in general, it's better to invest early. Kahit pa maging mas mahal yung BTID in the future, mas malaki yung opportunity cost, dahil ang laki ng charges sa first 5 years. Yung 3k na sinasabing ilalaki ng BTID sa future is little compared sa ilang libong mawawala sa first few years. That is if you get the 12k in that article, pero there are a lot of cheaper term investments out there.

In the unfortunate chance pa na hindi ka makabayad at materminate yung policy mo, you'll end up losing a significant amount of your money. Correct me if I'm wrong. You can only withdraw the extent of the fund value, not the cost of investment so far. Dun sa table, say it's 10% annual growth, sa 7th or 8th year pa mag-eequal yung fund value sa annual actual premium paid. If you redeem before that, loss ka.

With BTID, pag di ka nakapag top-up, those shares are still yours.

Anyway, this all boils down to preference. As ikaela said, may mga taong ayaw (or walng time/ interest ) mag-aral ng investment. For those types of people, baka best nga ang VUL.

[mxherr5]

I hear what you're saying and that's what I thought back then as well.

But I'm telling you that Sunlife was willing to disclose their COI rates
back then so if they're still willing and you seem to be someone who
likes to really go depth on something, why not take out the guesses
and just get the COI rates and actually mapped it out on a spreadsheet
and find out for real if your guesses are correct?

That's what I did and I found out that Sunlife's VUL was actually
the cheapest and since performance could not be predicted, I
the cheapest option would be my best bet.

Also you have to pin down an exact age/year you want to evaluate
the performance for comparison purposes.

And yes the VUL's performance would be really really poor during the first years
but again at age 65, the VUL comes out ahead vs BTID.

So if you plan to keep the insurance portion for just a few years then
maybe BTID is indeed the best option.

This was the pros I identified when I got my Sunlife VUL btw

1.) Very flexible payment options.
i.e. I can pay how much I want anytime as long
as I complete the annual premium within the policy year

I also get points from BDO when I pay my premium

I usually pay twice a month.

2.) Estate tax free as opposed to BTID where my investment
is exposed to estate taxes.


3.) Insurance coverage is flexible. I can actually lower my
insurance coverage when I'm say older and I only need
it for funeral expenses or something.

You can't do this with term insurance unless you're paying
big big money for term insurance. Most if not all of the term
products have minimum requirements based on the face
amount (i.e. at least 1M) or based on the premium (i.e.
at least 10k)

I was told by Sunlife that I can lower my insurance
coverage and hence escape the increasing insurance charges
up to as low as 300k.

That's just Sunlife. My other VUL policy can go as low as
5x the premium if I want.

But that's something to think about if you plan to keep
this long term and you expect to have lesser need for insurance.
Not a total lack of insurance.. just lesser.

4.) Cheaper charges overall compared to BTID at age 65.

And this was the only con I identified.

1.) Expensive management fee! 2% p.a. tsk

But thankfully there's the loyalty bonus to mitigate the higher fee.

(I invest in funds that charges up to 1.5% p.a. max so
2% is expensive for me.)

[Baby Madeline]

Hi everyone! Just want to ask the process on how to update your civil status and married name with Sunlife, i.e. Requirements, etc. I'm presently based overseas and I haven't received a reply yet with my email inquiry. Pinapahanap ko pa yung calling card ng agent ko so I can email her na din. Thank you!

My agent just replied. Just want to share the info if someone else has the same question To update your account details after getting married, one should submit a copy of marriage certificate, photocopy of a valid ID bearing your married name and a filled-out non-financial amendment form (which you should sign in the presence of any disinterested person as witness). These should be all sent via mail to their office

[mameejhy]

New thread - http://www.femalenetwork.com/girltalk/index.php/topic,288213.0.html

[msals2007]

I get your pain. I went thru a lot of agents as well before
I found my set of agents. My agents are unit managers
and regional managers of their agency(I think that's
what its called). Only they survive my pagka kulit lol.

But my Manulife agent did confide in me that he'll
get peanuts from me. 

What you want is what I'm doing with Manulife right now.
What happens is

1.) I get a billing notice telling me that my term is up
and to pay if I want to renew
2.) I log on to Manulife's online portal
3.) Pay using my credit card
4.) I get confirmation that another year has been paid.

Hi. Would it be okay to share your agent's contact info? I am planning to get a term insurance also but the Manulife agent who gave me a proposal kept on convincing me to get a whole life insurance. Ang laki ng premium almost 50k.

[enchoi]

meron po ang husband ko na flexilink 85 basic.  when i checked sunlink online, meron dung fund value kaya lang wala ba talaga nakalagay dun kung ilang units/share equivalent yun?

[mxherr5]

You can get the fund value and divide it by the NAVPU
and you'll get roughly the # of units
and to answer your question, no the online portal
doesn't show you the # of units you have.

[enchoi]

^thanks po...

[gilmonica]

Hi mga sis. Me and my hubby both have insurance na. Me with Sunlife(Flexilink) and Hubby with Prulife. What we are planning naman this time is for the kids. What do you suggest kaya na plan? Ang gusto sana namin yung plan na pwede namin gamitin for their education, savings plus if ever magkasakit sila. Meron kayang ganun? Hehe. They are 6 and 7yo.

Hi there!  Hope I can share some info on this. I was doing some readings and I got to read your post.

Best that you get Flexilink pa rin even though you're purpose for getting the plan will be for your kids' education. Then just add riders like the Critical Illness Benefit and Hospital Income Benefit. Had we known this before, we wouldn't have invested in a pre-need eductational plan. Lately, what we thought was different from what happened to CAP investors, did happen to us.

Walang kang habol and di rin regulated ng Insurance Commission. Hope nakatulong ako with the info kahit paano.

God bless and good luck!

[drowningpanda]

Tanong lang po, kapag po ba may pre-existing illness, hindi na ma-aapprove ang application? Pwede po ba hindi na lang mag-declare para ma-approve?

[mxherr5]

^
Natanong ko yan sa agent before and ang sagot nya is
depende sa sakit. Wife nya ay diabetic on maintenance medicine,
mas mataas lang ng konti ang premium nya.

Pwede pero unethical.
Consequences ay pag namatay ka within 2 years, at nalaman
nila then isasaoli lang ang binayaran mo sa beneficiaries.

If hindi ka namatay within 2 years then lusot na.

[sachism]

For those who've been with Sunlife for quite some time. At what year naging same yong premium paid nyo sa Fund Value (excluding Sum Assured)?

[rikki21]

Question about Flexilink.
If your parent died of say Stroke, and when you got a plan, you did not declare that he died from Stroke but another illness, may difference ba yun? may negative/positive  effect ba?

Thanks!   

[marssie]

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