BPI PHILAM

[cheezecake]

Mga sis, sino dito nakakuha ng coverage sa BPI-PHILAM? Mukhang maganda a

[so_unpredictable]

Hindi ko nga gets un siste nila na if may Save-Up account ka eh you can opt to choose if 1. double interest or 2. with insurance from BPI-Philam. pero sabi nila qualified daw ako since meron Save-Up account. just not sure how that insurance works. 

[cheezecake]

Oo nga e.  Medyo magulo honestly

[drowningpanda]

Hi mga sis! Kakastart ko lang nung October sa BPI-Philam na yan. P1k maintaining balance para sa save-up+insurance. Insured ka up to 5 times nung MTD-ADB ng account mo. Pero up to age 60 lang sya. So parang habang nagsa-save ka sa save-up account mo, my insurance ka na din.
Link:
https://www.bpidirect.com/page/view/save-up-automatic-savings-insurance

[so_unpredictable]

^ Hey sis, thanks for the link. I have Save-up for awhile now and it's always beyond P1k naman. What I wasn't sure of is how do I know if I wanted the Insurance or the doubled up interest rate? Tama ba, it means I have to get that Info card as proof of my Save-UP + Insurance? TIA.

[ikaela]

Ang gulo ng thread na 'to, ah. I'll try to make sense of it ha:

BPI-Philam is the bancassurance of BPI. They sell what are essentially the same Philamlife products but renamed as BPI-Philam products. The insurance agents of BPI-Philam are also different from Philamlife agents.

To the threadstarter: ano product nila yung tingin mo maganda?

so_unpredictable, napa-research ako sa sinasabi mo, and oo nga noh, may two variants na yung BPI Save-Up. Merong BPI Save-Up automatic savings + insurance, tapos merong BPI Save-Up High with higher interest. Dun sa website, parang pipili ka alin sa dalawa yung gusto mo kapag nag-open ka ng account. Napili ko na dati pa yung may insurance -- pwede nga kaya i-convert dun sa higher interest?

Although ang liit lang ng interest, parang not worth the trouble. Diosmio, wala pang 1%.

BPI Save-Up High Automatic Savings interest rate per annum:
5,000 - 49,999   - 0.250% p.a.
50,000 - 499,999 - 0.500% p.a.
500,000 and above   - 0.625% p.a.

vs.

BPI Save-Up with insurance interest rate per annum:
Any amount 5,000 and up - 0.250% p.a.

[nicola_juliano]

Gulung gulo din ako dito. Parang di masyado na-explain ng branch manager about this one saken. Kaya save up pa din account ko sa kanila.

[ikaela]

Yung mga Save-Up, those are BPI products. They're savings accounts with BPI that have their own features.

Iba pa yung products ng BPI-Philam. They're first and foremost insurance products, some of which you can link investments with.

Dapat ata pinost ko yung information on Save-Up accounts dun sa BPI thread, but oh well.

This is http://www.bpi-philam.com/

[so_unpredictable]

^ Sis ikaela, I thought joint topic dito since covered naman ang BPI-PHILAM un insurance ng save-up haha.  But yep, I would think ok rin un insurance nila though might not be the best option for insurance but a good choice to have extra savings rin rather than just having savings/payroll account in BPI.

From what I understand basta may Info card ka, qualified ka with the 2 options. Kung kelan mo na lang ata ike-claim then dun nila maa-apply which option un claim mo. (Info card is for Save up accounts since wala un atm card.)

Can't remember if I got an Info card or if I can get a replacement pa. Do you have info card sis ikaela?

[ikaela]

^Yes, I have an info card. BPI sent it about 2-3 months ata after I opened an Save-Up account.

Matanong nga yang higher interest vs. insurance options kapag makadaan ako sa home branch ko.

[so_unpredictable]

Sige, tapos share it to us. Haha. Thanks sis!

[rlpd1109]

Some of the Bpi Philam products are

1. Life Extreme Protect (LEP) - high-value life insurance plan. Minimum premium is 16k / annual. Mode of payment (monthly, quarterly,semi-annual & annual). It also has investment and potential earnings from investment fund. This plan is focus on Protection.

2. Build Plus Peso (BPP) - provides earning potential for your peso investment and guaranteed life protection. Annual Minimum investment is 50k. Mode of payment (quarterly, semi annual & annual). Guaranteed life protection is 5x the annual premium. This plan is focus on Savings. Recommended for those that needs a Retirement Fund and/or Educational Fund.

3. Invest Plus Peso (IPP) - its like Time Deposit but with higher potential earnings. Allows the policyholder / insured to invest in diversified portfolios. Minimum investment is 100k (single pay or one time payment only). This is recommended for those that has ready amount to invest. Guaranteed Life Protection is 125% of the singple premium.  Recommended for those that needs a Retirement Fund and/or Educational Fund.


I hope these helps

[salvage_me]

Hello!

Just had a meeting with a BPI-Philam sales executive last weekend and ang nadiscuss niya sa amin ng hubby ko yung Build Plus Peso (BPP), Invest Plus Peso (IPP) and Health Save 10 (HS10).

So far, ang kinoconsider namin ni hubby ay yung IPP, which requires us to pay a single payment of (minimum) 100k for our premium. 5 year term siya, though you can withdraw money within the 5 years, may certain charge lang depende sa year.  Iniisip namin ni hubby na instead of nasa bank yung 100k, we can put it sa IPP, then parang sa bank, hayaan lang money dun. Covered na ng insurance yung policy holder, kikita pa ng mas malaki because of the investment part.

We also like the HS10, parang nagiipon ka lang din yearly ng certain amount then on the 10th year, whatever you saved/contributed, you can get in full (less charges ng docs/stamps/etc). Then if you get confined sa hospital within that 10 years, may certain allowance ka for every day you are confined (without harming your premium).

Maganda din yung BPP based on the agent’s explanation, though a little big ang premium. Minimum of 50k every year for the next 10 years.

We’re planning to get the IPP na soon. But I would really appreciate any review from those na nakapaginvest na dito. I’m still a bit worried shempre, baka kasi may mga hidden chuva or concerns pala with regards to BPI-Philam products.

Thanks in advance!

[mxherr5]

I just want to confirm that you are aware that you can
get insurance and investments separately but you'd
rather get them both at the same time hence why
you are looking at a VUL?

If not then you can certainly just get the investment
part. No need to pay for premium charges, no holding
period and lower investment minimums(10k initial
and 1k subsequent vs 50 or 100k sa VUL).

Could you share why you are thinking of getting a VUL?
Is it like you said, instead of leaving it with the bank
earning almost nothing, you want to at least get something?

[ikaela]

salvage_me, I am also curious about why you are looking at VUL products. I'll wait for your answers to mxherr5's questions.

To address your "hidden chuva" concerns:

1. IPP - Single-pay VULs are heavily, heavily charged, especially in the first year. And for the amount you are putting in, you get miniscule insurance coverage in return (usually only 125% of your investment). Pure investment can give you the same or an even better rate of return with lesser fees and lower costs, while pure insurance can give you much bigger coverage.

2. HS10 - This is a 10-year hospital income term insurance with a return of premium; this is definitely NOT like saving yearly. Hospital income insurance is usually inexpensive, but because you want your premiums to be given back to you, the insurance company charges you more. In those 10 years, they earn from the money you give them, pocket the profits, and give back to you your money which has already been eaten away by inflation. Don't forget the opportunity cost. Good if those 10 years end without you making a single claim and you get the cash-back, but what if you had just invested that same cash-back money at the start of those 10 years instead? You could probably grow it into an amount that can cover your own hospital income needs for the next 10, 20, or 30 years of your life.

3. BPP - Like the IPP, this limited-pay VUL is loaded with fees, charges, and penalties (but the insurance coverage is better). You must assess your needs if this really is the insurance product for you. You can find better investments than this if your purpose is just so that your 100k isn't sleeping in the bank.

[salvage_me]

hi ikaela and mxherr5!

I honestly dont know what a VUL is or how different it is from other investments. Haha. I'm currently doing stocks (via colfinancial) and looking for other ways to invest (small lang naman). From both your reactions, i see na it's not a good decision to put money sa bpi-philam (or VUL). I thought na maganda yung investment + insurance but didnt know na it's charging more pagdating sa fees. I thought hitting 2 birds with 1 stone kami. nyahaha.

I'm relatively new to investing kaya medyo lost pa. What other options do you suggest? Mas okay ba if I get insurance and invest separately?

Thanks!

[j.adore]

Aw I thought VUL is good😕 I want insurance but I also want the money to earn (Hindi goodbye kung buhay ka pa) kaya eto ang tinitignan ko ngayon.

Kaso hesitant ako na malaki premium ng VUL yearly.

Separate investments ba you guys are referring to Mutual funds, uitf, stocks mga ganon?

[ikaela]

VULs combine insurance and investment, sis. They are a sound investment naman; they serve their purpose. But for a VUL to be a sound investment for you, it must be aligned with your own goals.

A VUL is recommended for someone who prefers to have insurance coverage for life AND doesn't have the time, knowledge, and interest to invest her money on her own.

It is also recommended for people who want to shield some of their wealth from estate tax.

It is also a form of diversification.

One can get the most from separating insurance and investments (be it mutual funds, uitfs, stocks, art, jewelry, land, property, collectibles, or whatever you fancy and wherever your luck is). But assess your own needs, goals, and personal investing style -- maybe a VUL's regular payment schedule and its high penalties if you don't stick to it are more suited to you.

[salvage_me]

Thanks sis! Looking at UITFs now. Reading about VULs too, para mapagdesisyunan din namin hubby where to invest. Madaming options nga sis. Thanks!

[honeybunny]

i opened an account sa BPI. bale BPI savings lang. na minimum 1k yata. then after i enrolled it sa online banking, nag open din ako ng BPI Direct SaveUp Automatic Savings Account + Insurance with this account para sa insurance naman.

question:
1. nagloloko kasi yung website bigla akong nalolog-out, after ko mafill out yung online form, i cant remember kung successful ako sa pag enroll nung BPI insurance, i dont see it din naman under my enrolled accounts. so how will i know if enrolled na ako..?

2. i cant see anywhere kung saan nakalagay yung age limit sa insurance although i saw someone posted here na until 60yo lang but then i wanna see it sa form or even sa terms of agreement na written talaga sya.. where can i find it pala?

thank you