Term Life Insurance

[mxherr5]

^
My wife's term insurance has almost the same premium.
Albeit, instead of 2M of regular accident insurance she has
1M of MAcciMax, their comprehensive accident insurance.

And its term insurance so there's really no "years to pay" per se.
You basically pay your entire life. If you stop then coverage stops as well.
You will never "pay off" a term policy.

[eeyore91833]

Need your inputs please...
My husband and I already have individual VUL product from Sunlife.
However, I realized that our preference should be term life insurance rather than those bundled with invetsments.
Which companies provide a high coverage at low cost? There are so many products out there and would like to get the best value for money.
Am okay to not get the money back but the monthly/annual cost should be low.

Hope you can help.

[julietm]

i'm thinking of getting a term insurance by being a member of IMG since nasa 3k lang per year but I've seen a post na nasa 3k lang din thru manulife. I got turned off by these companies which are more inclined in marketing VULs. I trained in Prulife but i can't seem to bear the thought of ripping off other people's money when they could just invest some of their hard earned money to other investing medium. Mind you, yung first year na nagbabayad sa VUL mapupunta lang sa marketing and commission and stuff and until 5 years may nakukuha si agent. Gladyly, I didn't push through with the IC exam. Anyway, I was backreading and medyo outdated na mga responses so I would really appreciate any future response.

[msals2007]

Sis, ano yung IMG. Okay ba yun?

[eeyore91833]

Sis, can you refer me to a Manulife agent. would like toget a quote on term insurance.

Why would you say it's cheaper if you get coverage from group insurance though?
Maybe if you're health isn't as good then you're getting a discount because the healthy
people is basically subsidizing your premium.

So, if you're healthy you'd be paying more but if you're not as healthy
you'd be paying less. Someone has to pay the "discount" right? :p

Case in point,

I have a yearly renewable term insurance from Manulife for 1M, I paid 3.1k
last year

I also have a group term insurance from Manulife via Chinabank Insurance Broker
because of my home loan. I'm paying 4.04k for 1M of coverage.

[girlush]

i'm thinking of getting a term insurance by being a member of IMG since nasa 3k lang per year but I've seen a post na nasa 3k lang din thru manulife. I got turned off by these companies which are more inclined in marketing VULs.

They always offer Vuls kase mas malaki yung commission nila.

[leilaniandson_onlineshop]

 Is there an agent here who can offer us. We are 2 in the company. Procurement Specialists. Maghohomebased na kami kaya we will get a direct insurance, our boss will pay for it. Something very affordable and not a long term. 5 years if magresign kami we will continue it. Please pm me. This is an urgent. Thanks.

[juicy]

Term Life Insurance is "mura" talaga compared to other products kasi wala syang cash value, once nag-stop ka ng bayad, wala ka na rin coverage.

[vankiesher]

I have taken my term insurance policy from Singapore. I have a life cover of around  P33 Million when converted to pesos. I have also availed of the Critical Illness rider for P10 M and Total and Permanent Disability Benefit for another P10 M.  I'm in my early 30's when I booked the plan and I got a discounted rate, too. My annual premium is at P61,500.

Cheaper ang insurance sa SG compared to Ph that's why I availed the policy from there.

[gypske]

Sad to know nag iba na policy ng Manulife sa term insurance nila. It seems minimum of 12k for a YRT. And their React5 has a minimum FA of 3M.

Parang Philam na lang ang mura (di pa kasi ako nakakakuha ng proposal from Pru, Insular at AXA)

[fionaapple]

1. save 6 months worth of expenses for our emergency fund- 3 months saved, 3 more to go

2. get additional term insurance for me and husband

3. save at least 150k for our mortgage anniversary balloon payment by December

4. save at least 150k travel fund for next year

5. save at least 50k by December for car insurance, Christmas expenses, MRI and Fire insurance

[ishopnowfeelguiltylater]

I have a VUL pero upon hearing na yung mga nauna sakin kumuha na supposed to be eh tapos na maghulog ay pinapaghulog pa, I started looking at TLI. I was immediately discouraged by my friend/agent kasi yearly daw may medical tsaka you have to report any hospitalization. although after back-reading I am starting to doubt what she said. Although the TLI + invest on your own sounds good, I know it will not work for me kasi wala akong discipline to allot every month. unlike dun sa VUL na kailangan magbayad otherwise sayang yung unang mga nahulog. 

[gypske]

sis, sa vul kasi may clause naman na kahit 5,10 or 20 yr term ang payment, may possibility pa rin na rin na magbayad ng premium. Mostly sa nakausap ko na agents, kung gusto ko daw na halos limited pay at within sa term payment, minimum ko daw is 50k at magtop ups lagi. Reason is para kahit papaano, lumaki yung investment portion at kung kulangin nga yung premium ko in the future, konti na lang idadaggdag ko.

[ishopnowfeelguiltylater]

yes true but my first agent kasi kinda dismissed the part where you might be asked to continue paying for the premium, saying it rarely happens. haha. nung nangyari na sa friend ko naisip ko it is no longer as rare as the agent said it is.

my friend who had to continue paying with his VUL showed me the charges. After 10 years of paying, the fund value was at 240k. for 2 years after that he did not pay, it went down to only 2k. sobrang sayang.

[acqua]

May I know if meron dito sa Philippines na company na pwede na beneficiary ay non-family member? What if you dont have a good relationship with your family? Thanks

[rasee16]

^anong relationship mo sa kanya sis? Usually creditor, business partner at employer lang pag hindi relative. But hihingan ka ng additional docs dyan para maprove yung relationship.

[PwedePadala]

I'm and OFW. It's cheaper pala to get a term life insurance ($18)  in Canada. I chose Sun Life after researching and found a reliable agent thinking of her client's welfare. I also bought a critical illness insurance. I follow the BTID rule. I'm keeping the term insurance till I need it

@acqua: When I asked about the beneficiary, I can choose anyone and the percentage of distribution. Whether it's 10%, 50%, it's up to you.

[hisana]

Ay totoo, ayoko din yung masyadong pinupush yung VUL. I inquired twice sa sunlife and both times talagang they hard-selled VUL to me kahit sinabi ko na nga I'm asking about term/whole lang. Kaya sa iba na lang ako naghahanap ngayon.

[gypske]

^ hirap makahanap ng FA na ang goal is to help others first before commission.
Minsan nga kahit may sinabi na budget, ang ibibigay na proposal x2 pa ng budget, ang totoo, needs ba natin iniintindi?

[scruffs]

Mahalaga talaga yung Financial Needs Analysis step. Pero yung mga FA ngayun palaging start with the proposal. This is based on experience. Good thing nakapagresearch naman na ako ng maayos at kahit ano pa sabihin ni FA ay decided na ako sa product na kukunin ko.