SUNLIFE 2

[chubzkittinz]

Hi mga sis!, Newbie here. a mother of 2yr old son. I am thinking investment + insurance that I can widraw anytime..may ganun po ba?any advise? 

[smm_0411]

I am also planning to switch from balanced fund to equity fund. pwede ba mag download nung form and send ko sa Philippines para submit ni hubby sa agent namin.

[PetiksPinayInvestor]

Hi mga sis!, Newbie here. a mother of 2yr old son. I am thinking investment + insurance that I can widraw anytime..may ganun po ba?any advise? 

Yes. These are called VUL or Variable Universal Life products of Sun Life

VUL is insurance + investment

The investment part is basically a mutual fund. You are free to withdraw from the fund every year up to 4 times but on the 5th time, may charge na

You need to know muna your financial priority and target. Kung pang college education ba yan, retirement, short-term goal, etc. Pa-compute mo na muna Sis how much ang need mo. You will know that through financial planning. The insurance product comes later. I'd like to think na insurance products are solutions. Kaya bago yan, alamin muna ano ang "problem".

Just my 2 cents

[PetiksPinayInvestor]

I am also planning to switch from balanced fund to equity fund. pwede ba mag download nung form and send ko sa Philippines para submit ni hubby sa agent namin.

Yes.

Here is the link to that form: Variable Life Insurance - Fund Switching/Allocation and Excess Premium Form

http://cdn.sunlife.com/static/philippines/How%20to%20access%20forms/Static%20Files/SLOCPI%20_request%20for%20fund%20switching_v2_29sept2014.pdf

I got it from Sunlife's website

You need to fill out these portions under 2 Details of Change(s) Requested

- II. Fund Switching
- III.  Change of Fund Allocation Instruction for Future Deposits/Premiums

Pa-assist ka po sa inyong Agent

[smm_0411]

Thanks sis.

[nikki]

So hubby finally decided to get an insurance. He just turned 40. Met an agent last week.  I asked a proposal for a 100k annual premium. He gave me 2: one traditional and the other VUL.  What I don't understand is that the total premium is almost equivalent to the insurance coverage. For example, 100k annual premium 10yrs to pay with coverage of 1.5M. Ganun na ba talaga ka mahal?

When I asked for a coverage of 4-5M, the annual premium is >1M 5 yrs to pay. So you basically pay for your insurance coverage?

Hope someone can enlighten me..

[PetiksPinayInvestor]

^ Medyo kulang ang info Sis. Premium amount is just a tiny piece of the whole pie

In getting insurance, understand what your needs are first. Insurance proposals come later as solutions. Kaya mauna muna yung "problem" bago ang solution.

Malalaman mo po yan after you were given proper financial planning. Were you asked to do a financial needs analysis questionnaire?

some other questions:

- what is the main purpose of getting the insurance, what need is to be addressed: retirement / income continuation / child's education?
- what are the riders: does it have accidental death benefit? total disability benefit? critical illness benefit?
- In the VUL, there is an investment component. What type of fund was suggested for you: balanced? equity? my future fund?
- In the Traditional product: is it participating? non-participating? Does it have endowment?
- how many years to pay: in VUL? in Traditional?

~~~


For a VUL product, I made use of this data that you gave: 10yrs to pay with coverage of 1.5M for a 40-yr-old male. Assuming non-smoker. I added ADB and TDB riders.

Ang annual premium nito for 1.5M coverage ay 55,072.50

If 100k ang annual premium, ang naging Top Up nyan is P44,927.50 (Kaya lumaki ng 100k ay dahil sa top up)

May impact yan sa fund value.

Projections show na by age 60 the fund will have a value of 2.68M at 8% or 3.6M at 10%

Death benefit is 4.18M at 8% or 5.1M at 10%

May significance po ba sa inyo ang mga amounts na iyan? Do you think these are what you need for your husband?

~~~

Dun sa traditional, fixed 10 yrs to pay din ba? Meron ba itong guaranteed cash pay outs (endowment), or wala?

~~~

Madaming products ang Sun Life. Mahirap po manghula kung walang data sa mga tanong na ito

[nikki]

^Hi sis! Thank u for your reply. We have 2 kids and I'm no longer working so basically the insurance is for our protection. But let me share the requirements I shared with the agent:

- fixed payment of up to 5yrs (but since he gave me 1M annual premium I asked for an extended payment schedule proposal, cause obviously we cannot afford that. At most we can afford, I said was 100k annual premium)
- with endowment
- with critical illness rider
- at least 4-5M insurance coverage

*traditional is ok but if above can be satisfied with a VUL product, then that's fine too.

Pero tama ba na walang sun life product that can satisfy our needs? Thanks again sis.. Hanap ako iba agent Baka niloloko ako?? Haha Baka u know someone..

[anjcam]

^hi sis,

PM kita regarding your inquiry. You can have 100k premium in a VUL product for 4M insurance with Critical illness rider with investment fund (not endowment).

Pero we can still work it out kung gusto mo talaga ng endowment. Baka kasi mas makamura ka if you investment it sa ibang product, or get 2 products separately

Just let me know if you need help. PM mo lang ako

[m_lim]

ang VUL ko naman sa Sunlife is 60thou/ year with 2M coverage. non smoker and i was 26 nung kinuha ko. may riders narin yan.

[PetiksPinayInvestor]

^^ Sis nikki, tingin ko hindi ka naman niya niloloko..

You just need to understand what you are getting from the products

Amongst these needs:
- with endowment
- with critical illness rider
- at least 4-5M insurance coverage

I can say na there is no 1 product of sun life that offers both endowment with critical illness benefit.
Tama yung sinabi ni Sis anjcam, 2 products ito
If you want the CIB, there is an alternative to endowment naman.

Sa palagay ko, correct me if I'm wrong, you like endowment because of the guaranteed returns (parang pension ang dating), and you like CIB to cover for your health when critical illness strikes.

Para ma maximize mo ang money mo, you may think of it this way

you need to

- be protected with the amount that you think you need so that if anything happens to you, your children are taken care of (so ito na yung 4-5M insurance coverage)
- set aside for your retirement (important ito kasi kung mahaba ang buhay mo dadating ka sa point na hindi na pwede mag work. What if after retirement you still live for 20 more years? How will you sustain yourself?)
- after these two are addressed first, you can add the CIB rider later (provided healthy ka pa ha).

CIB is only until 70 yrs old. What if nagkasakit ka at 71 yrs old? May makukuha ka sa policy mo if and only if from your policy, you have enough funds to withdraw na ipanggagastos mo sa pagpapagaling from the critical illness.

Overview lang yan ha.. Pinaguusapan dapat ito ng harapan

Kung papaano ipinapakita/ipinapaliwanag, dun po nagkakaiba. Kasi shempre dahil sa different interpretations.

You need to be honest with your agent about whether you think you are getting what you think you need. Kasi this is your future being talked about.

[rhumbafrapp]

I am thinking of getting a term insurance from sun life and a separate investment fund

Say for example, for my term, gusto ko Sana at least 1m yun makukuha ng family ko, in the event I die. I am not a primary breadwinner, but I want na Hindi maging pabigat sakanila (because mahal mamatay) also may mapunta man lang sakanila. Sa term ba, makukuha ba siya upon death lang?or pwede upon disability?I am only 28, professional, aand walang HMO and insurance from company. I only have manulife VUL((na dismal ang rate kaya gusto ko ng palitan) and bpi direct save up..

For investment, pwede ba yun 1 time big time? Hirap ako na magmeet sa agents, basta goal for Sana for the money is for retirement and wealth accumulation.

Hope somebody can answer

[ikaela]

^You can attach all sorts of riders to a term life insurance policy. You can add:
- Accidental death
- Accidental death, disablement, and dismemberment
- Critical illness
- Terminal illness
- Temporary disablement
- Waiver of premium upon disability
- Hospital income

I know that in Manulife you can also choose your disability coverage to be occupation-specific, i.e.: they will pay out if the disability you acquire prevents you from doing YOUR specified job. This is better coverage vs. becoming disabled and being unemployable in ANY kind of job.

In investments, it's better advice to do multiple placements over investing one time big time. But life happens -- sometimes, you're tempted to spend the money, so it's better to get it out of your sight and into investments. Sometimes, you simply don't have the time. Other times, you get lucky and catch the bottom of a dip. In those (very rare) cases, one-time big-time is the BEST way to invest.

[anjcam]

Hello rhumbafrapp,

Merong one time payment for sunlife(investment), ok siya since may free insurance na rin. I know ang minimum 250k.

[rhumbafrapp]

Thank you sisters
Papaquote ako sa kilala kong sun life agent
Meron Ba specific sun product na marerecommend nyo(names) based on what I want??

[spinnn]

Sunlife na din ako now. My plan is Sun Maxilink Prime with accident insurance and 10 years to pay. Ahhh. Work work work. Haha

[enchoi]

I have a question po... what is the difference of flexilink and maxilink?

yung sa husband ko kasi ay flexilink for 1M.  I asked for the same agent to make a proposal para naman sa akin.  almost same amount yung annual payment with my husband and yung age ay same with the time he started.  But yung coverage is 500K lang.

I asked the agent and yung reason ay maxilink prime daw yun and mas maganda sa flexilink.  I wanted to know the difference and she will explain daw pag nagmeet kami by mid of April.  Baka you have any idea paano sya mas naging maganda?

[j.adore]

1 is more for insurance while the other is more for investment. I'll identify which is which pag nasa laptop na ako☺

[stormy]

May isa ako na pinagsisihan na kinuha sa sunlife dahil hindi maayos pagkabigay ng info year 2005 ko kinuha 1 time pay pa. US dollar pa so lugi na ako dahil sa rate ng US$ noon at ngayon tapos halos walang "kinita".

Ok siguro ito if naka-align sa sinabi ko na goal kaso hindi.

Iba ko kinuha ok naman.

Yung last ko dynamic fund nitong nov. ang value ba nun yung nasa website ng sunlife phils sa right side? Baka meron rin kasi sa VUL na value ang dynamic fund?

[kiz_me1109]

I have a question po... what is the difference of flexilink and maxilink?

yung sa husband ko kasi ay flexilink for 1M.  I asked for the same agent to make a proposal para naman sa akin.  almost same amount yung annual payment with my husband and yung age ay same with the time he started.  But yung coverage is 500K lang.

I asked the agent and yung reason ay maxilink prime daw yun and mas maganda sa flexilink.  I wanted to know the difference and she will explain daw pag nagmeet kami by mid of April.  Baka you have any idea paano sya mas naging maganda?

SIs, anong klase ng Maxilink ang kinuha niyo? Madami kasi yun. Merong Maxilink Bright, Maxilink Prime, Maxilink One and Maxilink Dollar One.

Pero just to give you an idea kung ano ang difference eto siya.

Almost the same naman. Same lang din naman sila na merong Regular Pay and One time Pay lang.

Ang difference lang is that kapag naka Maxilink ka, yung Death Benefit will be 200%. And kapag makita mo yung proposal mas maliit yung charges.

Sa clients namin kapag investment driven and gusto nila 1M coverage automatic Maxilink na 500k Face amount na agad ino offer namin. Mas maliit ang charges but the face amount would still equal to 1M/

Also, another difference is may number of years kasi yung Maxilink. Like 5 years mo siyang babayaran talaga dapt. Yung Flexilink kasi dahil flexible nga siya, may option ka na kung hanggang kelan ka lang maghuhulog ng premiums mo.

I hope I was able to help you sis.