Anong insurance ang kinuha nyo?

[myGodisawesome]

Hi! yes ngayon important na meron ang kids natin na sarili nilang insurance. ngayon kasi meron ng variable insurance meaning, savings/investments via mutual fund, so instead na iniipon mo ang pera mo sa bank, ipasok mo ito sa investment para mas malaki ang kinikita ng savings nila. when they reach legal age like 21 yrs old, malaki na ang investment nila na pwede mo na gamitin for any purpose you want like education funding. my 2 kids have this. so they have life insurance, health coverage and investment.. nagtatabi lang ako ng 3k monthly each child. mas maaga magstart mas ok kasi mas mababa ang monthly nila.

[ayi21]

^same with us. 3k+ for both my kids from AXA with health, insurance and investment. Instead of the savings accnt na kinuha namin sa kanila before dito na lang namin nilagay.

[gypske]

Mga sis/bro, sino taga Sunlife Grepa, may clarification/question lang ako about sa policy ni kuya.

Meron siyang Power Builder 10. Annual premium is 21k+.
FA - 350,000
Initial Life insurance coverage - 700,000+

"Secures the life of the insured with insurance coverage equivalent to 200% of the Face Amount plus the fund value or the minimum death benefit - 500% of the regular premium plus 125% of each excess paid premium, if any, less 125% of each partial withdrawal, if any,, whichever is higher."

Question:
When kuya meets untimely demise, which one ang matatanggap: yung face amount or yung Initial life coverage?

[mxherr5]

I'm not connected with Grepa nor am I an insurance agent but the description you posted seems to be pretty clear. Whichever is higher at the time of the insured's untimely demise is what the beneficiaries would get.

To put it in perspective, the beneficiaries can get either
Possible Death Benefit A: 700,000 + Fund Value
or
Possible Death Benefit B: (105,000(21,000x5) + A(Ax1.25)) - B(Bx1.25)
where A is any amount over the 21,000 annual premium that your kuya added into
the policy and B is any amount he took out from the policy.

Chances are, the death benefit would always be A unless your kuya invests a lot
of top-ups into the policy

[FayeP]

sa sunlife ako kumuha ng VUL para samin at sa mga anak ko...maliliit na amounts lang para kayang kaya bayaran, per month ginagawa namin pagbayad parang kunyari bill...

[ikaela]

I'm a few years down the road now and I can now compare a single-pay VUL with BTID (Buy Term, Invest the Difference).

VUL: I appreciate that my VUL is just there, and that I absolutely never have to think about it. I most appreciated it during the times when I felt like I was making all the wrong financial decisions. Business wasn't going the way I wanted it to go and the stock market was plunging, but knowing that I was diversified through the VUL helped alleviate some of my fears.

However, I still can't help but be dismayed by my VUL's mediocre performance and numerous charges whenever I get the updates in the mail. Up to now, I still cannot justify all the fees. The 2-6% management fee alone is insane; that's already the return of some investment funds for an entire year!

BTID: Still the method I prefer. What really elevated BTID's game for me were BPI and BDO's automated regular investment plans. Now I never have to think about investing in the BTID method too. I can add more when I see that it's good time to buy more, and I don't have to pay more unnecessary fees. I also know that I can get my money whenever I want without any withdrawal charges.

The one downside is term insurance covers me only until age 70, and I never know, I might still be needing life insurance by then. But that's why I got my single-pay VUL that covers up to age 100. And I read that there are term insurance products that cover up to age 99 now -- will have to research more on those.

[brandi]

I already got a policy from Sunlife and I am now thinking of getting another one. I don't have any idea where to get next na maganda din ang performance. I would like to get another one from Sunlife but sabi nga, do not put all your eggs in one basket. Any suggestions? Also, i would like to solicit feedback what insurance company offers better yield when it comes to dollar investments. Tia!

[fionaapple]

^thank you ikaela for sharing your own experience about having both VUL and term insurance. I already have VUL, but thinking of getting another term insurance for me and my husband. and a single-pay VUL for my hubby. i suppose there are indeed pros and cons for getting term or VUL. i am thinking of doing the same thing as you did.

[ikaela]

^No problem! I think I might be singing a different tune about VULs if mine was the regular-pay and not the single-pay. During my financially hard times, I would've found it annoying if I still had a VUL policy to pay. Giving my money to an insurance company would be the last thing I'd want to do. And if I were really down to my last centavo and could not pay my VUL premium, I would've easily lost both my insurance AND my investment!

Some insurance companies' funds may also equal or even beat the performance of top MFs and UITFs, but all of the gains are negated by the fees they charge. I have to constantly tell myself that the VUL is for diversification.

^^brandi: look linto Pru Life UK and Manulife. They have good fund managers and also have dollar investments.

[brandi]

^thanks sis!

[vankiesher]

The one downside is term insurance covers me only until age 70, and I never know, I might still be needing life insurance by then. But that's why I got my single-pay VUL that covers up to age 100. And I read that there are term insurance products that cover up to age 99 now -- will have to research more on those.

Sis, my term insurance has a coverage of up to age 99. But I've booked the policy from Singapore. I am not Sg based, but I specifically traveled there for that purpose. Insurance premiums are generally cheaper in Sg than Ph due to the law of large numbers, and the country's healthcare system, among others.

Just to give you an idea on how much the premium costs, my life cover is around  P33 Million when converted to pesos, I have 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 due to a promo at the time of availing the plan. The annual premium that I pay is for P61,500, but I have selected a coverage of only til age 75 (not 99, this is my choice naman).  I believe this is relatively cheap. I also prefer BTID than VUL but I do think that these two strategies are complementary.  But with this type of coverage, I think pwede na sya for estate planning purposes din.

If you don't mind, may I know where is your Single Pay VUL invested? You have mentioned you use it for diversification purpose when the stock market is plunging, is it invested in dollar denominated funds or global funds?

[ikaela]

^You got a really good deal. Yes, the one in Singapore is the one I came across too. The up to age 99 seems like too much for me as well, and that long coverage really shows in the premium price. Sisingilin ka pa rin nila talaga. But overall, the term insurance prices in Singapore can't be beat. They're at the top of my list now when I need to add more in the near future.

My SPVUL is in Sun Life. It is in Peso, the type with 4 or so free fund switches a year. But even if I don't switch, Sun Life funds don't lose that much when things go bad. Which also means they don't have the most spectacular returns either when things are doing good. Very conservative fund managers.

[gypske]

^^ Sa Aviva ba yan, sis vankiesher?

[vankiesher]

^^oh, Sunlife pala. Thanks for sharing. I'm also considering getting a SPVUL in the future, maybe within 2 years or so. 

^yes, sis, it's Aviva.

[brandi]

Any feedback re policies from Insular?

[fashtag]

I got from manulife.  My parents did not get me one so I had to get one for myself so I could put the policies of my children under my name.

[kireinachean]

^same with us. 3k+ for both my kids from AXA with health, insurance and investment. Instead of the savings accnt na kinuha namin sa kanila before dito na lang namin nilagay.

Hi Sis, interested sana din ako for my kids, anong name ng product na to? Thanks God bless!

[girlush]

^^oh, Sunlife pala. Thanks for sharing. I'm also considering getting a SPVUL in the future, maybe within 2 years or so. 

^yes, sis, it's Aviva.

May I know who's your agent here in SG? PM nalang
SG based din ako
thank you

[desgalang28]

Kumuha ako ng life insurance when I became a Financial Advisor with Manulife and this is the plan I got for myself:

VUL - Life Insurance with Investment
Face Amount 1.5M
Quarterly Premium 7,202.83

Then I took another life insurance Policy with Prulife UK naman with Critical Illness Rider for the main purpose na kapag magkaroon ako ng Critical Illness like Cancer or Kidney Failure, mayroon akong lump sum amount na makukuha from my insurance at meron ding kasamang Total and Permanent Disability from accident

Face amount 1.2M
Accelerated Total & Permanent Disability 1M
Critical Illness Rider 1M
Annual Premium 31,800
Monthly Premium 2,650

Both kami ng husband ko insured with similar plans ang kinuha ko and still planning to add more kasi para sa akin ngayon, the more policies the better especially when you have more kids to protect from any financial burdens in the future.

[charisgrace]

Hi! Newbie here. Anyone here na kumuha ng life insurance with Insular Life?