On getting health and life insurance

[Awesomecakes]

There are companies (ie Sunlife, Manulife, Pru life UK, etc) that offer health and life insurance with Investments, yes? What are your thoughts on this? Would this be an option for you? What are the advantages and disadvantages?

[Nhetskii]

Hi sis! I got 1 in sunlife and another 3 from manulife. Ever since na-nagwork ako yun talaga ang tinarget ko since i believe naman in insurance. Yung sunlife ko kinuha ko when i was 25 i think. Kasi mas bata ka mas mura.

Wala naman akong masyadong nakikitang dis advantage eh.. except for syempre isasama mo sya sa monthly bills mo (kung monthly ang kinuha mo) dahil syempre pagsusumikapan mo syang mabayaran para wag mag lapse at masayang. At tsaka kasi ang insurance ay pang long term.

Just make sure na once na kumuha ka eh yung naaayon talaga sa gusto at kailangan mo.

I suggest sis kumausap ka ng agent so he/she can explain it to you. Marami kasing klase ang insurance. May mga tinatawag na silang add ons.. like life insurance na may health benefits, accident... etc.  If you want i can give you the number of my agent para makapag set ka ng appointment.

[kaice]

i have offers din and nalilito ako kasi nasyang lang yung prudentialife ko what made you switch from sunlife to manulife? and ano kinuha mo from manulife?

[Nhetskii]

i have offers din and nalilito ako kasi nasyang lang yung prudentialife ko what made you switch from sunlife to manulife? and ano kinuha mo from manulife?

yung sunlife ang una kong kinuha.. kasi yun lang ang lumapit.. hehe di ko alam noon kung san ako cocontact ng agent. Eh yung isang ka officemate ko may kakilala kaya dun ako napakuha. Kaya lang naging orphan account ako (meaning yung dating agent ko nag resign kaya ang may bagong agent na naghandle) kaya lang may pagka arrogante kaya di na ko kumuha ulit ng sunlife. Nakarating pa kaya ako sa office talaga ng sunlife para i reklamo yung bastos na agent!

Sa manulife yung isa ko life insurance, mababa lang kasi di kaya ng budget.. sabi kasi ng agent kailangan siguraduhin mong kakayanin ng budget po para di ka mahirapan..yung life insurance ko payable in 5 years tapos if anything happens to me may makukuha ang beneficiary ko na 200k.  Yung isa life insurance din with critical illness naman ang option kasi feeling ko pano na nga kung bigla naman akong magkasakit nang malubha... kaya ko kinuha yung add ons na yon, ibig sabihin pag nagkaroon ako ng sakit (na nandun sa listahan ng contract) may option akong i advance ang insurance ko ...  yung third naman is Freedom 65 naman is parang retirement benefit. At age 65 pwede na ko makukuha ng 200k.

Pero di ko yun kinuha ng sabay sabay. Kaya nga mas maganda pag alam mo yung gusto mo at syempre ano ba plan at fear mo. Then your agent will suggest kung anong product ang best sayo. You should tell him also yung budget mo... 

[polar_bear]

^sis, mga magkano ang monthly mo para dun sa insurance mo na 200k, payable in 5 years?  I know, depende sa age, pero gusto ko lang magka idea kung magkano.  balak ko kasi talaga kumuha ng insurance.. kahit maliit lang ang makukuha ng beneficiary, yung mga ganung amount lang.. 200-250k para di naman mabigat sa bulsa ang premium.  TIA

[Nhetskii]

sis 18k ako per year. Mas mura kasi pag yearly kesa sa monthly. PM mo sakin birthdate mo para ma text ko agent ko mabigyan ka ng accurate computation...

[oreo08]

meron din akong life insurance dito... 3 different companies. Yun isa, talagang nagsign up ako... yun 2, kelangan sa trabaho kasi may tie up with our retirement money. Kasama na rin yun critical illness, accidental injury etc dyan

si hubby, isang company palang and yun nga yun tied up din sa retirement money nya... pero magsign up kami soon pagkapanganak ko...

for me, peace of mind ang habol ko kasi ayoko nung may sakit na nga ako, inaalala ko pa buong pamilya ko habang bed ridden ako. gusto ko shempre secured sila... so yung life insurance ko, it will cover payment of the house loan, car loans, holiday nila every yr, tuition sa school for 10 yrs for 2 kids (kahit na wala pa naman kaming anak)

[MissChievous]

My younger self wasn't bothered by this, pero after paying for my mom's health insurance for almost 2 years already, I began to have thoughts about insurances. I mean, sayang din yung 2 years na yun. Sa company lang siya kasi so it's definitely not for long-term. So, I have decided to join this financial group and learn everything from there. I am getting life insurance soon din. After I am knowledgeable of these things na.

[cutesimplegirl]

anyone here na may Plan sa Paramount Life and General Insurance. Feedback naman maganda ba ang endowment insurance nila? Thanks

[cescilay]

I started paying for my retirement insurance when I was 21. Funny nga kasi kakastart ko lang mag work noon and retirement na agad ang iniisip ko. Sa awa ng  Diyos natapos ko rin siya after five years. Now, I am feeling somehow secured na hindi ako magiging kawawa when I get old. I am also looking into other policies but maybe more on investment this time.

[m_lim]

^saan ka kumuha sis? how much bayad? thanks!

[MissChievous]

I'd like to separate my investments sa healthcare ko and insurance para kasi to distribute my money on several baskets. What if may nangyari sa company ng life insurance ko ano? Eh, byebye na din ba sa investments ko?

For healthcare, I am about to avail Kaiser Healthcare. Though it's a combination of healthcare + insurance + investments (long-term healthcare kasi), I would use it primarily for healthcare purposes only. Tapos as for my life insurance, meron PhilAm Life Term Insurance which is mura so I'm going for that. Sa investments, I'd rather go for MFs sa ibang company. And stocks to supplement my investments.

I've seen others kasi who pay for a HUGE amount of premium sa life insurance eh. Nakakapanghinayang lang if you wouldn't know other options na pwede mu ring makuha ang same benefits at a lower price di ba? Kaya kelangan talaga research2 muna before mag commit sa mga insurance agents.

I've read this book by Suze Orman. She said na sa mga life insurance, malaki yung singil kasi usually for the first year na binabayaran mo yung premium mo, 80%-90% of that go to the agents' commission. Imagine that.

Kaya ako, aral nlg personal finance through crediable books, financial seminars and a finance group (whose purpose is financial literacy for all Filipinos). I'd like to eliminate the middle man sa mga personal finance transactions ko para makatipid na din and to take the total control. 

[mxherr5]

Term insurance goes against the normal thinking of pinoys eh.
Even myself, kahit alam ko na na mas cheaper ang term, it still
took a while for me to convince myself to get term.

Sometimes I still get occasions when I feel like I'm throwing
money away even though intellectually I know that's not true.

About Kaiser, I've looked at it before but I couldn't find any
reason to risk investing in a relatively new and untested company
when its product is at its core not an insurance product like
other HMOs.

Parang pre-need nga in a way eh, na tipong you give them
money and they grow it for you GUARANTEEING(mas nadagdagan
ang doubt ko dito) no less than 7% returns.

Tapos yung total accumulated money mo sa kanila divided by 10
ay ang annual benefit limit mo.

Eh kung nag DIY ako, ang annual benefit limit ko ay ang total money ko,
hindi total money divided by 10.

Ang nakikita kong advantage lang dito ay ang access sa mga accredited
doctors,hospitals, etc nila kasi syempre discounted yung rate nun.
AND pwede mo raw i extended yung discounted rate sa family mo.

@MissChievous, tama ba pagkaintindi ko sa kaiser? Magulo rin kasi kausap
ko years ago parang hindi rin nya gamay yung product nila hehe

[toria]

I'm working as an OFW for almost two years now. Since umalis ako ng bansa nawalan na din ng health card ang parents at mga kapatid ko.

I am now thinking of getting them a health card from Medicard, medyo mabigat nga lang din since halos 70k for a year for the 4 of them. Anyone who also applied for a healthcard personally?

[agape]

@mxherr5,

how much is a good priced term insurance?
how much should be the benefit and how long is the coverage?
I'm considering term insurance since it's so much cheaper nga, though temporary.

@cescilay,

is your retirement insurance enough for you by the time you retire?

[mxherr5]

Compare term insurance between multiple insurance
companies then choose the cheapest hehe

Term insurance pricing depends kasi on your age,
kung level term at ilang years level sya.

[mameejhy]

Background:

Hubby is 37yrs old. He has a vul in the Philippines. And, he has a health as well as life insurances abroad (c/o company). we have three kids: 8, 5 and (almost) 3 yr olds.

Questions:

1. Should he still get a medical insurance in the Philippines considering that he only goes home once a year? Or, should he just get one after a few years?
2. Should he get a separate level Term insurance or do "top ups" to his vul for added life insurance coverage?
3. Should he get a memorial plan, instead? Btw, I don't have a life insurance but I have a medical insurance and a memorial plan.

[Nhetskii]

1. Should he still get a medical insurance in the Philippines considering that he only goes home once a year? Or, should he just get one after a few years?

I DONT THINK HE STILL NEED IT SINCE HE HAS HIS OWN MEDICAL INSURANCE FROM WORK WHICH IS ALSO OK SINCE ITS FREE AS PART OF HIS BENEFITS

2. Should he get a separate level Term insurance or do "top ups" to his vul for added life insurance coverage?

I THINK HE SHOULD GET A SEPARATE LIFE INSURANCE.  VUL IS A INVESTMENT PLAN WITH A SMALL PORTION WITH LIFE INSURANCE.  MAIN PURPOSE OF THAT PLAN IS MONEY MANAGEMENT AND GROWTH.  YOUR HUSBAND SHOULD GET A SEPARATE PLAN REPRESENTING LIFE INSURANCE

3. Should he get a memorial plan, instead? Btw, I don't have a life insurance but I have a medical insurance and a memorial plan.  IF YOU CAN AFFORD IT, WHY NOT GET BOTH..

SOME FACTS:  LIFE INSURANCE PREMIUM COST INCREASES AS WE INCREASE OUR AGE.  I RECOMMEND THAT YOU SHOULD TALK TO A LIFE INSURANCE AGENT FOR YOUR OPTIONS.

I hope this helps you...sorry sa all caps.. para lang ma highlight yung sagot ko..

[MissChievous]

@mxherr5

Hi sis. Yung Kaiser kasi is primarily for healthcare eh, long-term healthcare specifically. May component lang siya na Life Insurance, tpos nag gro-grow din pera mo dun by ~8% I think. Hindi siya yung talagang pang pure investment talaga. I still need MFs for investment. Hehe. Para di masayang pera nababayad ko. Natutunan ko to when I started paying for mom's healthcare via sa company ko. It's short term, meaning renewable every year. So if mom isn't going to use it, bye nlg sa binayad ko. Transferable din yung insurance niya kahit nagamit mo na yung healthcare na component so it's a plus.

As for life insurance, nag babalak pa din naman ako mag purchase ng Philam. And for investments, MFs pa rin ako. Not relying on one company for my money.

[PrincessC]

may alam ba kayong health insurance na covered until old age? mga 65 years old and above?