Term Life Insurance

[bluish_mommy]

^sis how much death coverage to both?

[ikaela]

^500k. Yes, I should edit that, para claro na i-a-advance yung 500k face amount kapag nagka-critical illness ka or kapag namatay ka, whichever happens.

[bluish_mommy]

with the pros and cons of Term Life versus VUL, I think it still boils down to how the person would like to invest and protect his money, no matter how much ang kikitain sa bandang huli. people have different risks appetite and with this, iba't iba rin ang paraan kung san iinvest ang pera.

for some, TLI is a good choice IF the difference of the premium against the VUL is religiously invested properly, and of course, as this investment becomes part of the estate, one should make sure that it is provided with a protection once death may occur.

[honeybunny]

i have been lurking in this thread for quite some time now and until now hindi ko pa rin ma-digest and mga info.. ugh!

[bluish_mommy]

^hehe ok lang yan sis... you need to identify first ano ang need mo at dapat mong bigyan priority, depende sa individual sis, if mas gusto mo bigyan ng weight yung protection or investment, or can be both. by identifying these, dun ka pwede magumpisa hehe.. goodluck! 

[j.adore]

Hehe I was in the same situation and it took me a while to decide. You can back read in other threads too, I think Term vs VUL? But since this is term thread, normally they do BTID (buy term and invest the difference).

You can try to "shop" around and compare proposals from different companies to see what you need.

[xyrez1]

Term Life Insurance vs VUL ay isang malaking usapin talaga. It will vary lang depende sa preference ng isang tao. For me, VUL is good dahil combination na ito ng protection mo and at the same time may kasama na ding investment. Ang Term Life Insurance naman is okay para sa mga taong may alam na sa investment.

Like in my case, I have 3 mutual funds and I also invested in the stock market. And so far maganda naman ang return. Kung kukuha uli ako ng insurance ngayon, I will choose siguro yung TLI na lang, kase kung mag VUL pako feeling ko redundant na. I need protection lang talaga, yung sa "investment" stuff, ako na lang ang bahalang dumiskarte since may idea naman na ako. Eto naman eh saking pananaw lamang po.. 

[Ejaxene]

Hi gtalkers! Can you please PM me the names of your trusted financial advisers? My parents have whole life insurance and I know from their experience that some agents just want to make a sale for commission.

I am shopping for a term insurance (I am going for a year-long holiday outside the country and I don't want to financially bother my family---younger brothers are still in school---in case something happens to me while I am away).

I am employed by a company with an affiliate insurance company and I can easily get one from them but I still would like to see all my options.

I am looking at Sunlife, Manulife, Philam and Insular. Thanks in advance!

[Baby Madeline]

Thank you for the comparison sis ikaela I have a Sunlife Maxilink Prime but husband doesn't have an insurance yet. I'm just waiting for my agent's proposal for him for both Sunlife Maxilink Prime and Sunlife Life Assure. At this point, I kind of leaning towards a term insurance.

[Baby Madeline]

Sayang naman Apparently, Sunlife Life Assure is not applicable for us. Their term insurance with riders is not available for OFWs and Filipino citizens outside the Philippines except for some countries. Unfortunately, the country where we are presently based isn't included in the "some countries".

Awaiting premious quotes from Manulife and Insular. I hope we won't be excluded again. Mas preferred ko at the moment ang term insurance + MF e.

[PetiksPinayInvestor]

^ Sis try mo rin ang Philam Life

I heard a story na nakapag insure kahit ang country ay Kazakhstan..

Im not a Philam Agent though, but I can refer one to you (kung wala ka pang nakakausap )

[Project60]

Parang I'm leaning towards getting a term life insurance vs vul primarily because mas afford ko siya at this stage of my life. I plan to build a separate MF fund nalang.

Can you enlighten me kung how much usually ang term life insurance nowdays per annum *28 years old) and is it also the same payment years as a VUL na 10 years daw pero may clause na it could extend?

Never pa ko nagpaquote ng term life insurance kasi na dyadyahe ako wala akong kilala and baka mainis si agent pag matagal ako mag decide.... tried to backread pero medyo hindi ako makasunod sa terms! hehe sorry naman medyo slow!

[PetiksPinayInvestor]

^ OK ang VUL kung nagsisimula ka pa lang. Pero dapat grumaduate jan.

Kasi yung projected returns hindi naman guaranteed yun e.

You get a VUL to have a habit of saving or setting aside a budget every month to pay for the premiums (monthly, quarterly, annually)

Ito yung "graduate" part

Ang pagkuha ng insurance plan ay depende sa income ng isang tao

Is saving 25% of your monthly income hard for you?

How about saving 1%?

What amount between 1% to 25% is affordable for you?

Once you have that amount, Get a traditional insurance, divide the annual premium into 12 so you get the monthly budget

Then subtract that from the % amount na affordable sa iyo

Kunyari,

10% is affordable for you. And 10% = 5,000

Tapos yung annual premium to start a traditional insurance is 10,000 so that's 833.33 lang per month

5,000 - 833.33 = 4,166.67 yan ang iinvest mo.

Gawin mo ito for 25 yrs

Yung premiums mo na babayaran beyond year 25 e kukunin mo sa investment mo. Malaki na yung investment mo kasi 25 yrs ka ba naman nag-iinvest e. Sabihin na nating hindi tumaas ang budget mo per month at 4% per annum lang ang interest rate (conservative). Di ka parin lugi compared sa kung sa bangko mo lang talaga nilagay ang pera mo (with 1% interest per annum tapos may tax pa..)

Dun sa investment part, ikaw ang maghahanap ng pag iinvestan. That means, you learn. You invest in books, seminars, etc.

Ganun talaga. There is nothing free in finance.

So you have in your portfolio, a VUL, a traditional, an investment, etc.

In your lifetime, hindi lang naman iisa ang insurance na hawak mo. Magdadagdag ka pa rin kapag tumataas ang lifestyle mo

I hope this helps or gives you an idea


Kung magpapakuha po kayo ng quote, you will provide the following:


- gender
- age (28)
- smoker or non smoker?

[msals2007]

Ang term life insurance is annual ang payment at protection. You are insured every year as long you pay every year. Pag hindi ka nagbayad stop na din ang protection mo. Whereas yung VUL and other life insurance may specific payment period, example ten years to pay, pero yung protection mo will extend beyond the payment period usually until age 80. Okay lang sis mag paquote ka sa agents. ganun naman work nila and accepted naman siguro nila hindi lahat ng nagpapaquote eh kukuha. i just got a term insurance from manulife pero laki ng tanda ko sa iyo para icompare Just to give you an idea, at age 38 for around 1M coverage, ang annual premium ko is nasa P5k.

[PetiksPinayInvestor]

Ang VUL na 5 yrs to pay or 10 yrs to pay ay hindi guaranteed na hanggang dun lang ang payment.
Kasi if ang value ng fund ay mas mababa pa sa kinakaltas na charges, kailangan pang magdagdag

Ang kagandahan sa Traditional insurance, may mga insurance na guaranteed ang payments (meorng ilan ha, hindi lahat ng traditional). Meaning kahit na 5 yrs, 8 yrs or 10 yrs nag-pay, guaranteed na hanggang what age ang coverage ay insured siya.

Asahan mo lang na may kamahalan ang premiun nito kasi compressed ang paying years.

[msals2007]

Oo nga pala, may clause sa VUL na di guaranteed yung payment period for a specific number of years lang kasi pwedeng bumaba ang fund value. Kaya sa mga proposal, sa illustration of benefits up to 80 years old may premium pa na hinuhulugan.

[smile22]

^^like yung philam guardian 65. you can choose if 5 yr payment or 10 yr payment. covered ka til you reach age 65.

[PetiksPinayInvestor]

May traditional product sa Sun Life na may critical illness na (Sun Life Assure)

for 28 yr old female non smoker,

a 2M coverage starts at 18,960.00 per annum

a 1M coverage starts at 9,680.00 per annum

Kasama na dito ang accidental death benefit and total disability benefit (waiver of premium)

This is coverage until age 70. Madaming pwedeng mangyari from age 28 to age 70, lalo na sa health.

Parang I'm leaning towards getting a term life insurance vs vul primarily because mas afford ko siya at this stage of my life. I plan to build a separate MF fund nalang.

Can you enlighten me kung how much usually ang term life insurance nowdays per annum *28 years old) and is it also the same payment years as a VUL na 10 years daw pero may clause na it could extend?

Never pa ko nagpaquote ng term life insurance kasi na dyadyahe ako wala akong kilala and baka mainis si agent pag matagal ako mag decide.... tried to backread pero medyo hindi ako makasunod sa terms! hehe sorry naman medyo slow!

[smile22]

^how many years to pay if the coverage is until 70 yo?

[xyrez1]

May traditional product sa Sun Life na may critical illness na (Sun Life Assure)

a 1M coverage starts at 9,680.00 per annum

Kasama na dito ang accidental death benefit and total disability benefit (waiver of premium)

This is coverage until age 70. Madaming pwedeng mangyari from age 28 to age 70, lalo na sa health.

Mukhang okay ito ah. P9,680 a year is just P806 a month. Hindi na mabigat yun. How many years po ito babayaran?