SUNLIFE 2

[mameejhy]

^oh yes thanks for clarifying. Pero bagong ruling lang kasi yun eh, not yet applicable when purple_tips got her maxilink last september

Applicable na rin kahit sa mga existing plans. Inform your agent na lang na lagyan yun plan/s nyo

[rasee16]

^No, I meant nung time nga na nagdedecide sya hindi pa available. Anyway, for me kasi it defeats the purpose of maxiprime kasi magiging tuloy tuloy ang bayad pag kinabitan ng cib eh. Hindi na limited pay 10. I have both flexi and maxi. Magkaiba rin kasi purpose so hiwalay nalang.

[mameejhy]

^Bakit magiging tuloy tuloy ang bayad kapag may cib?

[j.adore]

Mas nagkakasakit as you age and "paying" for the life insurance doesn't stop. They just deduct it from investment part.

[rasee16]

^^Have you seen the proposal? Tuloy tuloy ang bayad eh. Well of course if you do not pay, ikakaltas nga yung cib charges (na increasing every 5 years) sa investment. And if wala kang top-ups, i doubt if masusustain pa yung policy. Baka time will come na maubos na yung fund value kasi tuloy tuloy yung cib charges and increasing pa.

[m_lim]

sa FlexiLink ba ganon rin? tuloy tuloy ang bawas for life insurance and CIB?

so  kung di ka magttop up, dadating ang time na walang itataas ang investment part?

[mxherr5]

^^Have you seen the proposal? Tuloy tuloy ang bayad eh. Well of course if you do not pay, ikakaltas nga yung cib charges (na increasing every 5 years) sa investment.

I don't think j.adore was disagreeing with you on that front.

What she was saying was that you are also paying for the insurance charges
continuously just like the CIB charges even if you have a Maxilink policy.

The CIB charges are too big [textspeak!] for the Maxilink premium to support indefinitely
kaya ang proposal includes the CIB charge explicitly.

 

[rasee16]

Yes m_lim. Review your policy. Nandun naman yung projections. Sa flexi kasi, there is an option for premium holiday. But that doesn't mean na stop payment na talaga. You may still be prompted to continue paying if the fund is no longer sufficient to pay for the charges.

[perasense]

@m_lim

CIB is rider. meaning add-on sya. so separate ang terms para sa kanya. iba ang bayad sa CIB sa insurance mismo. so if you look at your proposal, you will see na every five years (parang term) and CIB premium ay nag-iincrease rin.

also if look at your proposal,  it has a break down of the possible fund value at different projected interest rates, including how much the difference is between a plan that has premium holiday vs. paying perpetually.

if you have flexilink, and you've chosen to invest initially in one type of fund, and you have CIB, yung illustration for perpetual payment nasa page 4.

yung illustration for premium holiday sa proposal ay nasa page right before nung acknowledgement of variability.

normally naman if the investment is doing well, then you should have no issue. however if the market crashes, then your fund value will get lower. If it gets to a point where yung fund value ay hindi na kayang i-cover yung premiums, then you'll be asked to top up.

your agent should have explained the meaning of everything in there.

[rasee16]

Actually may times din sa flexilink na nakalagay sa projection, wala ng fund value at a certain time lalo na pag sobrang sagad sa minimum amount and no excess premium. Makikita yun sa proposal butas na yung fund value at a certain time.

You also have to keep in mind that the charges shown are projected if the fund value is gaining 4%. Meaning pwedeng tumaas ang charges if the fund is performing at 8-10%.

[perasense]

@raisee

yes there are times that that would happen, pero in the first place, why recommend a plan na eventually mauubos ang fund value to cover premiums sa client, diba? it defeats the purpose of a VUL which is to have insurance coverage and earn through investment at the same time.

better to explain and make them understand why they need to pay more and/or for a longer period to prevent such scenario. if the client really pushes through after you've explained the consequences, then walang sisihan.

[rasee16]

^nako sis, hindi lahat ng agents eh needs-based. Ang daming proposal-sellers dyan. Kaya nga clients really have to practice due diligence. Read read read your proposal. Yung questions nga ni m_lim, dapat napaliwanag na yan ng agent nya.

And also, clients have to understand na hindi one size fits all ang proposal na binibigay ng agents. Nakakabasa kasi ako dito na "bakit ang mahal nung proposal sa akin sa maxilink, bakit ang mura nung sayo, etc.." You cannot compare. Kasi magkakaiba tayo ng goals and iba iba rin ang budget. Proposals are tailor-fit for your needs.

[m_lim]

^true! sa totoo lang, nagpapa quote ako ngayon sa ibat ibang agents. ewan ko, parang halos lahat VUL ang pinupush kahit term lang pinapa quote ko. :-(

[xee]

Wala ba talaga rider pag ofw? Anong mas maganda if ofw ang kukuha ng insurance?

Hi everyone, sana may makasagot nito, Ofw din ako and I've been receiving proposals with riders.

[rasee16]

^sis depende sa occupational and foreign residence guidelines.

[xee]

Hi sis, I was quoted by a sunlife agent a VUL + CIB & ADB (I requested this) - so meaning, pwede kaming mga ofw to have riders?

[mameejhy]

^Depends sa country.

[toffeenut]

Hi guys! Question... I have Sun MaxiLink Prime with a Face Amount of 500k. Paid my premium for 2 years which amounts to P23,240.00 so that equates to P46,480. My Fund Value now is P27,757.14.

Is this normal? Super laki ng admin charges? Would there be a time na maubos na Fund Value ko dahil sa charges incurred? Parang lugi ata ako since invested amount is higher (P46,480) than my current Fund Value (P27,757.14)? Tapos makakaltasan pa etong Fund Value ko for the next months. Help!

If I stop and pull out my fund, ang makukuha ko lang ba e yung current fund value then waste na yung iba since napunta na sa admin charges???

[perasense]

@toffeenut

The first few years, malaki ang portion ng premium na ina-allot for the insurance and admin charges, lalo na sa first two years.

If you look at the proposal that was originally given to you, may breakdown sa column 3 & 4 ng illustration of benefits page, it tells you kung how much ang portion ng premium mo that goes to the charges and the difference goes to your fund. If you notice, paliit sya ng paliit as the years go by. That page also shows you the projected fund value based on a 4%, 8% and 10% annual interest rate.

Projected ba na mauubos ang fund value mo? And yes, merong cases na ganun kung may riders like CIB and HIB na tumataas habang tumatanda ang premium allotment. If not, then you have nothing to worry about, unless matulad ang Philippines sa Greece na ma-bankrupt ang government (almost all analysts, both local and international, have projected that the Philippine economy will be growing in the next 5-10 years, so the likelihood of thishappening is very, very low)

VUL's have a long-term investment outlook. That's normal. Long-term means more than 5 years. Some years the market will not do well (like the latter half of this year), some years the market will do great (this is when your investment will earn), so since long-term siya, over the years it will average out na lumalaki pa rin ang fund value mo despite the movement of the market. That's pretty much the same way investing in the stock market or other publicly traded investment instruments works as well.

If you withdraw now, you will get your fund value. That's basically it. The charges will not be returned to you.

Your agent should have explained this (or you should ask them to explain).

[toffeenut]

thank you so much @perasense for clarifying. i'll just stick and trust it nalang para di sayang.