Bancassurance

[pocahontas]

Bancassurance.. how does it work? Ang alam ko lang kasi it's an investment and insurance in one. I'd like to know more about it sana please enlighten me mga sis. Sa mga sasagot.

[j.adore]

It's like an insurance company except tied up with a bank. They are using the name of the bank and their amenities to sell products.

Yung product na insurance plus investment is VUL.
Essentially the same lang yan if you get directly from insurance companies.
I compared their plans, no difference much.

[pocahontas]

For first time investors like me, ok lang kaya mag invest dito? Wala kasi talaga ako idea. Dati akong bulagsak sa pera at na-encourage lang ako to save and invest kababasa ng mga forum dito sa GT.

[j.adore]

It is ok but to find the best product for you, research ka pa ano yung mga available products. Check VULs from different companies and compare. Read up on VUL versus BTID (buy term, invest the difference), mutual funds, and UITFs (bank mutual funds). Meron din threads dito niyan.

Once you have all info, review mo ano yung bagay sa needs mo and then choose the company that you trust can give the best product and service.

Di kasi pwede yung sasabihin agad agad eto ang kunin mo. Kailangan pagaralan ano yung situation at needs per person.

[pocahontas]

thanks so much for your insights sis j.adore mag start nako magresearch 😊

[mapua17]

Mas safe po kung tutuusin sa bancassurance compare sa insurance company lang mismo, kasi nakatie up po sa bank. Marami products na pagpipilian kaya mas maganda may makausap ka mismo na sales agent nila para maadvice nila kung ang mas magffit sa lifestyle at sa budget mo.

[j.adore]

Not really
The policy is still from the insurance company. Banks are just used as sales channel.