Life Insurance Blog

My mom is a Sunlife agent so I consider myself lucky in that my parents started getting
coverage for me as a child. Lower premiums that way. Kakakuha ko lang ulit this year.
Importante rin magdagdag to account for inflation and additional protection for
accumulated assets/acquisitions.
I think most of us here are just in our 20s and 30s kaya malakas ang loob gumastos. But
before setting aside your play money, I would advise getting life insurance. It enables you
to have forced savings since walang liquidity. You provide for your loved ones in the
event of your death. It doesn't matter if you're the breadwinner or not, malaking gastos
ang mamatayan. It makes for good estate planning as the proceeds can be used to pay off
debts and hefty estate taxes. And insurance proceeds are tax-exempt.
It helps to get it while you're young and healthy dahil mas mababa nga yung premium.
Get insured only by a solid and reputable company para siguradong hindi magfo-fold.
Look at what happened to CAP and PEP.
Aside from life insurance, I intend to also scout for a good health plan. Any
recommendations? Even if we think we're in good health now, we never know what will
happen tomorrow. Especially in these days of sedentary lifestyles, poor diets and
infectious diseases. Nakakapanghinayang daw pag di nagagamit, pero dapat nga
magpasalamat ka at hindi nagamit, di ba?
Gusto ko rin sana ng fire at theft insurance but good products are hard to come by, there
are always issues with the fine print. I had personal accident coverage when I had to be
away on fieldwork for five months and still plan to avail of accident/travel insurance for
any long trips I might take in the future.
Aside from insurance, gusto ko rin kumuha ng memorial plan. May mare-recommend ba
kayo? My parents got Pacific Plans (renamed Lifetime Plans) but after the episode with
PEP and the Yuchengcos parang ayoko na non.
I want to reference a good insurance thread on PEx

(http://www.pinoyexchange.com/forums/showthread.php?t=28877) that discusses several
pros and cons. It's a long read but worth it. There are a few interesting posts here
(http://www2.femalenetwork.com/girltalk/index.php?topic=75203.0) as well.
Title: Re: Do you have insurance?

Post by: nailbiter on Dec 21, 2005, 08:50 AM
Repost ko na rin dito yung ibang okay na post don pero maganda talagang masundan
yung discussion for the pros and cons. Personally, I really feel na life insurance is one of
the best things you can get for yourself and for your loved ones. If you don't have one
yet, make it your New Year's resolution to get one. Let me tell you briefly about my dad.
Nung binata siya, may nagbenta na sa kanya ng plan with Philam pero di niya tinuloy. Di
rin siya bilib. It wasn't until my mom joined Sunlife that he was persuaded to buy
insurance na talaga. And by then he was already 46 years old so mataas-taas na rin yung
premium for a decent coverage. By that time pa, may mga sakit na siya, so na-reject na
siya for additional coverage when he tried to get another plan later on.
Tuloy ko na lang ang story-telling ko sa ibang araw. Repost ko muna yung ibang
interesting points from the PEx thread I cited.
Originally Posted by KuyaDanny

When a life insurance agent comes knocking at your door, it does not necessarily mean you are getting old. More likely, it means you have
begun earning an income, which deserves to be protected.
The younger and healthier you are, the cheaper your life insurance will cost. So while a life insurance agent may prefer to sell to an older
person (his commissions will be higher), it makes sense to sell to a younger one because it's easier to get coverage approved, and the younger
person lives longer, allowing him to keep paying premiums for a longer period.
Disclosure: I worked for four years with Philamlife, the Philippine subsidiary of AIG.
Since you seem to be more or less decided, I won't give the basic reasons for getting insurance and instead recommend:
1) Buy as much insurance as you can afford. It will only get more expensive as you grow older. At this early stage in your career, you should
plan on your income growing steadily in the years ahead. Therefore, the time will come when your insurance protection will be inadequate and
you'll need more. It's OK to "overbuy" when you're young.
2) Buy basic life insurance protection only. That's all you need. Compare rates for the same plan sold by different companies. Do not buy
endowment products, which are a form of investment. Save the cash and invest the money yourself.
3) Choose a big insurance company that's been around for a while. There are many operating here, including multinationals (Sunlife, Manulife,
AIG) and local (Insular, National, Ayala Life, Grepalife). The government regulators supervising life insurance companies in this country have
generally done a good and professional job keeping life insurance companies well-run and stable in this country. That is one thing with our
government you can be truly happy about. So if the company has been around for a while, it should be OK.
Originally Posted by aticus

Ada, I agree with Kuya Danny, do not get endowments. Get basic life insurance/accident insurance.
If you're really serious about making your money work for you, go into stocks and bonds, especially US Blue Chips. They offer the most stable
returns, and you have the added benefit of being able to pull out your money when you really need it. Endowment policies from insurance
companies require you to pay for anywhere from 15 to 20 YEARS... unless you pay for the entire policy up front (in which case, you really
don't need the extra money...).
I'm worried about my financial flexibility, so I don't like tying up my money for very long periods of time. Sure you get the returns, but in
exchange you keep putting in money for 10 years in a row before you even get some of your "investment" back? Plus you have to keep paying
for 10 years more? Nope, not for me... I don't mind paying for life insurance, because I know I need that... but to use endowment policies as my
prime investment option might be too limiting financially...
Let me illustrate: Suppose, for the sake of the argument, that the country really does go to pieces bec. of impeachment proceedings dragging on
too slow... what if your local insurance company folds up? You don't get the money you've been paying out for 9 years? Or what if you need to
leave the country, or need to spend for a vital medical emergency BEFORE the endowment matures and starts paying out? What do you do
then? You can't pull out, you can't use the money, you can't do squat. (Unless you're willing to give up some, or all, of your returns...) That, for
me, is too scary to contemplate.
One last thought: Be sure you read the fine print. I think you'll find that with most (if not all) insurance companies, THEIR RETURNS ARE
NOT GUARANTEED. In fact, when the insurance agent shows you projected tables of "earnings" from your endowment plan, they are just
that... "projections." There is no guaranteed rate of return... in fact, the rates are often pegged to external factors, such as company profits...
believe me when I tell you that a company that is heavily in debt will decrease, or stop altogether, the endowments you receive. And don't even
get me started on what would happen if your company is in receivership...
So, for my PEx friends who are tired of my long posts and want the "essence" of my post distilled :):
Use Life Insurance to protect you from unexpected tragedies. Use the remaining money to invest in more liquid and/or flexible investment
options. You should be the master of your own money.
Originally Posted by virgo14
a lot of people i know wait till after they are married to get life insurance. is there a downside to putting it off for a few years? what are the
advantages of getting one at 25 versus 30?

Biggest diff is you pay a higher premium if you start later in life... plus the older you are, the more likely they'll require you to take a med
exam... and if you have a medical history that's a bit dodgy, they'll raise premiums even more.
Personally, I think the best reasons for young people to start paying for insurance at a younger age are the following:
a) They are "forced" to "save" their money. They don't spend it for the trappings of youth...
b) It forces younger people to start planning for the future. It's a big psychological thing.
c) It prepares them for the kind of long-term financial planning they'll need. It's a good habit to get.
d) It makes them see that their disposable income is actually a lot smaller than they may have initially thought.
e) If you wait, keep your money in the bank, and start later... you will lose money. Your money will be worth less, bec. you can rest assured
premium prices will grow at a faster rate than bank interest rates. (Do you really think keeping your money in BPI, for instance, with 2 or 3%
interest, will help you pay for the premiums later?)
So if you have the money, it's never really too early to start...

More from PEx:
Originally Posted by insomniac

...it's important to choose someone you trust. I mean you have to be sure that this person knows what he/she is talking about, and can explain it
to you pretty well. Para you can make the most of the money you're putting in, and it's clear to you what benefits you'll be getting. Also, that
will help you in selecting a plan that suits your needs the most. Iba-iba kasi yun eh. Better to look for someone who's not just out to make a
hard sell. :mad: Kung hindi mahihirapan ka when it comes to asking for advice.
Second is the level of service the agent will provide you or the alaga. Think long term, cause you'll be making annual installments for at least
10 years, so it'd be better to make sure that agent is still around by then, and also keeping you updated about your policy.
I'm not sure with other life insurance companies, but in Sunlife kasi the agent is the one who is responsible for collecting the annual premiums
(to make sure you make your payments on time - or else baka maglapse :(), and to keep you up-to-date with what's happening within the
company. (i.e. demutualization, new policies, news on stocks and dividends blah blah.). So you can see how important it is that all throughout
these times, someone is providing you with well-informed.
I saw the importance of having good service through my friend's bad experience. She told me that her mom's agent (who was their relative)
didn't explain to them anything about the recent demutualization, kaya they were not able to take advantage of the benefits as much. They just
cashed in the stock they received from Sunlife.. na PhP300 plus nung simula. And now it's reached PhP900.00 na.. so it's like sayang! :( Sabi
nga niya if they had only been more well-informed....tsk tsk.
Anyway, hope this helps. I'm not sure but I think the different components you're talking about may be riders. Optional extra stuff you pay for
that may provide you protection while your policy is not yet fully paid. Sort of like a "in case something happens to you while your policy is
not yet fully paid, you will receive this much amount of money" clause. I think the other components might be health and female benefits. Am
not familiar with Philam policies kasi eh.
Originally Posted by almightyge
Many of the most wonderful people I have met recently are people in the insurance industry. And every time I get the chance to give them a
seminar or two I am always reminded of this material I gave a couple of years ago. It involves an accident I had when a truck decided to
reshape my poor car. Listen to this.
After a tiring day in the recording studio I was glad to be on my way home but something happened along the way. While waiting for the traffic
light to turn green, I felt a bump on my left side and the sound of crunching metal immediately gave me the hint that somebody has decided to
reshape my car. When I looked at the left view mirror, I could see no car, instead I saw giant tires slowly flattening the curved side of my 2
year old car. The amazing thing about this was that even the truck driver was not aware that his right front tire has been squeezing the left side
of my car like a toothpaste tube and he realized it only when I pushed hard on the car horn.
While getting out of the car my mind was working fast and even before I saw the damage I knew before hand that it would not be a beautiful
sight. And true enough, what I saw was a badly damaged car. Oh how I dreaded the inconvenience yet somehow, a feeling of relief came
knowing that the car is fully insured. But in spite of this assurance, my heart was pounding and my temper rising as I looked at the unsightly
dent on the car.
But all anger subsided when I saw the pale ashen look on the young truck driver's face. I mean he was really scared. Deep down inside I felt
shame because there I was worried about the car damage and this guy was probably worried about his job and the next meal for his family.
Well we both went to the police precinct and out of fear and shock this young driver became incoherent. This elicited some sarcastic remarks
from the impatient policemen and their rude behavior and treatment on the driver didn't help him a bit. And that's when I encouraged the poor
guy and even requested the police to be gentler with him because the man obviously was in a state of shock. I never knew what ever happened
to him after that because after filing the police reports, I was on my way back home.
As a result of this, I was reminded of comments that individuals wrote down on their insurance claim forms following their auto accidents. This
compilation of statements was taken from a Toronto newspaper. You will notice that many of the comments made were likewise incoherent.
Maybe because of shock, maybe because of trauma and then again maybe because of wanting to cheat. I'll let you be the judge of these:
Some of the comments are:

1.) I misjudged a lady crossing the street.
2.) Coming home, I drove into the wrong house and collided with a tree i don't have.
3.) I collided with a stationary streetcar coming the opposite direction.
4.) I heard a horn blow and was struck in the back - a lady was evidently trying to pass me.
5.) I thought my window was down, but found it was up when i put my hand through it.
6.) My car was stolen, and i sent up a human cry but it has not been recovered.
7.) The truck backed through my windshield into my wife's face.
This one's my favorite:

8.) A pedestrian hit me and went under my car.
9.) The guy was all over the road. I had to swerve a number of times before i hit him.
10.) If the other driver had stopped a few yards behind himself, the accident would not have happened.
11.) In my attempt to kill a fly, i drove into a telephone pole.
12.) I had been driving my car for 40 years when i fell asleep at the wheel and had an accident..
13.) My car was legally parked as it backed into the other vehicle.
14.) The pedestrian had no idea which way to go, so i ran over him.
It's funny and it doesn't make sense but then this normally happens to someone who has been involved in an accident. I guess if there's one
thing we need to be reminded of it's simply this. Rremember that accidents happen and certainly, no one would desire for it to happen. But
when it does happen, no matter whose fault it is, keep calm and stay cool.
One important lesson I've learned from all of this is that I needed to focus also on the damage of the other party and not just to look at my own.
I may be worried about an ugly dent on my car when the other guy may be in danger of losing his job. And he has a family to feed.
So don't be too hard on others. Cars are made to be bumped and you can't help it. Just thank God that He has kept you safe through out your
whole journey and never let a car dent ruin your day.
Originally Posted by denise

ano pa ba mga ibang klase ng insurance aside from life, educ. property, body part, cellphone?

If statistics can be collected on a peril, its risk can be calculated, and insured against. So there just about as many kinds of insurance as there are
risks. Some of the more common are:
fire, marine, theft and burglary, general and personal liability, business interruption, earthquake, kidnap and ransom, and fidelity.
Fidelity? That one I am not aware of. Pano kaya yun?

Heto pa o:
Originally Posted by brownpau

go for it ASAP. While you're still young, it's an excellent investment, so long as you get your plan from a stable, credible, and well-established
insurance company.
I'm with one of those self-sustaining plans where you stop paying after a certain number of years, and the premium pays for itself from there.
The total output at maturity is significantly less, of course, than if I opt to continue payments, but still far more than enough to keep me
satisfied in my old age. (Or enough to keep my potential spouse satisfied if I die. :mrgreen:)

1) Please do not call, or regard, life insurance as an "investment". What kind of investment can it be if the investor has to die first before he gets
his money, and his profits?
Life insurance is purchased for protection, to compensate somebody for losses in the event of misfortune. This is exactly like getting insurance
on your car or on your house. You are protecting yourself from losses which might happen if your car is stolen, gets into an accident, or if your
house burns down.
2) The "limited premium payment" plan illustrated by brownpau is designed for people such as pop music performers, film stars, and
professional athletes, ie, people who tend to earn plenty of money over a short period of time, and then "slack off" because they retire, fade
from the limelight, bomb at the box office, or get injured.
Limited payment plans function by asking the policyholder to pay a little extra early in the payment period. The extra amount is invested by the
insurance company so that when the policyholder stops paying, the money accumulated is used to keep the coverage going.
Maybe this is appropriate for brownpau. But for the rest of us, it is a little "mispackaged."
Consider that the typical income flow of the working professional with a long career is one that starts low, but grows steadily until his
retirement. Given that the best time to buy insurance is early in the career, when it's cheapest and needed most, the more appropriate payment
pattern would, I think, be equal payments until the coverage expires, or premiums which are low in the beginning, but rise as the insured's
income rises.
Originally Posted by Irradiate

kuya dan,
i kinda have to object to that. true, insurance is not an on-the-spot investment but it will still be considered as a means of saving your money for
the future of your beneficiaries (which is actually what most investments are all about...future, savings etc.)
Originally Posted by badabing
some insurance products they sell today provide protection and are investment vehicles as well. for example my company covers me for an
extra $100,000 and after five years of continuous payment i accumulate for myself an amount equal to all the premiums i paid which i could
withdraw(note: this is not a loan). if i choose not to get this money it will further grow and could be substantial after like 15 or 20 years, with
all the benefits of a traditional insurance.
yeah, get insurance while you are young so you can avail of the low premiums, well a not-so-risky lifestyle would also help.
Originally Posted by leelayce

insurance per se, is not really matunog to me, whether it be for property or asset mas lalo na kapag buhay.
If you want to, say, "save" up some money for the future, why can't u invest your own hard-earned money yourself. You can even have the
discipline of handling your own money. sympre wherever you decide to invest your money on, it has to yield the highest return.
Kapag education plan naman, di ko type lalo, pero meron yatang educ plan na, u pay a premium op dis amount tpos kapag lumaki na si baby,
pwedeng ang bayaran ng insurance company yung kung magkano ang halaga ng tuition, regardless kung anong school at kahit magkano yung
tuition (nailbiter: well, we know what happened to that type of plan) pero kung kalakihan naman ang premium na parang ikaw din ang
nagbabayad, wag na, ganon din yun, tago mo nalang sa kahon yung pera mo, este sa bank.
sympre ganun talga ang business, utakan. kelangan nilang kumita
Insurance, like what LOLO DANNY said, should not be considered as an investment. u invest your money where there is SECURITY and
INSURANCE este ASSURANCE, and most of all, least as in LEAST RISK. NOW THAT IS INVESTMENT
kasi diba, investment is about risk and return
eh yung insurance company itself nga hindi sya considered na LEAST RISK.
actually like what i "said" in my previous post, depende yan, depende sa plan. depende sa tao, depende sa insurance company --- (medyo
obvious na ito ano po?!) dapat hindi mga local insurance companies, ok yung SUNLIFE, kasi they also give you stock shares.
basta kapag LIFE insurace (depende sa plan) wish ko lang may mamatay ng MAAGA para maging katuwa-tuwa ang imong pag-hulog ba, ala
e, ka-hirap nga mag-laba laba eh, para lang kumita ang mama ko eh.
tapos ang dapat, i-compute mo ang probability na ma-a-accidente or maging at risk and kung ano mang ininsure mo.
basta ang ok lang na i-insure yung, asset or property na tulad ng factory na sana masunog, (mga SM SM ba! mga migamol ba! marami pang
iba), este mas at risk masunog, parang itong bahay namin, MEDYO DELIKADO LANG NAMAN, nyay! kakatakot.
MAS MATALINO ANG INSURANCE COMPANY KESA SAYO!
Originally Posted by zimdude

leelayce I don't understand why you're anti-insurance... true, it should not be considered as an investment but that's not the point! the point is
having a contingency plan for your loved ones if you die before your time. and we'll never know when that will happen.

Pagpapatuloy:

bcoz it MAY work for OTHER people.
and may not work for some.
it's for people who want it to be safeRRR than sorry.
Originally Posted by desdemona

LiFe InSuRanCe NoT foR SiNgLeS
i work in a financial institution & i wouldn't recommend this to single people out there. why? because u wont benefit from this. just save
enough money for ur funeral.
u'll be better off if u

1. invest ur money to mutual funds
2.save 10% of ur income
3.buy retirement savings plan (its tax refundable)
4.spend ur diposable income
5.save for vacations/trip

I'd like the finance people to comment on desdemona. I think mutual funds are out of reach of the average Filipino workers - hey I don't even
know about this - and I don't know about retirement savings plans either. Do you mean a pension plan?
leelayce, doesn't everyone want to be safer than sorry? unless you have a death wish or want to "live fast, die young."

zimdude mali pala. what i meant about "safer than sorry" was-- for people who depend or resort to insurance bcoz of the thing they thought was
risk but is not risky at all
These people who (in my opinion) lack of what they call " financial literacy"
kasi minsan lugi ka sa insurance eh, instead of benefiting from them.
but like i said, depends on the case, person. etc.
kaya they think they are safer that way to have an insurance

who will manage your finances if you're (knock on wood) dead?
also I think most people would fall under the category of having no financial literacy... you could count me in there (for now).

Some arguments why life insurance might make sense for you:
1) When you die, all your debts become due. So if you owe money on your house, your car, or your credit cards, it doesn't matter if there are
10, 15, or 20 years to go on your contracts. When you're dead, they're due ASAP. Otherwise they could take your house or car away. If you
don't have money set aside to pay these loans and don't want your loved ones scrambling to look for money when you're gone, life insurance
proceeds can help pay for these debts.
2) When you die, the wealth you leave behind is taxable. If you don't want your loved ones to sell your assets to pay these taxes, life insurance
proceeds are money that can be used to pay these taxes. Now, let's say you look for a clever attorney or accountant to help "reduce" these taxes
for you, you'll still need to pay these people. You can use the life insurance proceeds.
3) If you get hospitalized for a significant period before you die, your loved ones will need money to pay the hospital and doctor bills. Do you
want them to sell your assets to pay for these bills? Life insurance proceeds can help pay the bills so your assets are protected.
Do you see a pattern to these arguments? You should buy life insurance to protect the value of your assets, which can be reduced when you die.
You can use other financial tools to make yourself rich, but you should use life insurance to protect your loved ones from getting poorer if you
die.
Now, if you don't have any loved ones, that's another story. ;)

Some arguments why life insurance might make sense for single people:
1) Some single people have dependents who count on them for support. It could be parents, brothers and sisters, or even children. When the
person dies, those dependents might still need some financial support.
2) Many single people eventually get married. So even if you don't need it now, you might want to get it anyway. Getting life insurance when
people are younger (and healthier) means the premiums are cheaper.

Simula sa post #51 out of 117 :D

Instead of paying monthly/annual premiums (kung ano pa man), the money should be set aside to purchase or be used for other investments
that can "real"-ly help to add one's asset. Yung talgang kikita ka, ndi yung kapag namatay ka lang or some accident. Kapag ndi naman death
insurance, after a certain year, u'll receive "this" amount say 5 million from paying premiums for countless obliging years. Ganun din yun eh,
pinatago mo lang lugi ka pa sa inflation.
Originally Posted by lupuS

This strategy might make sense if you knew exactly when you would die. How many people have that knowledge? A 25 year old who buys a
P1,000,000 life policy can be assured that his family will have P1,000,000 if he dies in one year, or whenever. Assume that instead of buying
the policy, the 25 year old instead uses the premium money (a few thousand pesos) and invests it, then he gets killed in a plane crash at age 26.
How much money will he have in investments? P1,000,000? I don't think so.
You see, investments presume some level of certainty (time and rate of return). Life on earth, however, takes away some of the certainty of
time. Life insurance allows people to reduce the risks associated with this uncertainty.

Actually, I'd not be too hasty to dismiss insurance as a poor investment.
I may be mistaken, but I believe the Philippine insurance code requires insurance companies to give guaranteed returns which amount to a
minimum of 6% per annum, tax free. That's not too bad, especially since it also includes the life insurance benefit and will pay out that lump
sum in case you die and leave your family without a father or mother.
Many insurance companies actually give returns significantly higher than 6%, on the average, with some in the double digits (10% or higher),
and all tax free.
So with the insurance benefit and the rate of return, I don't see it as being too bad a deal, especially if you just keep your money in a bank like
BPI (which gives very low deposit rates...).

Banks' rate of return is 6% per annum on the average.
What about the interest rate that time deposits and money market offer?
Insurance companies can only start giving returns on a certain

time. By that time comes, inflation has already eaten your savings. Tutubuan ka muna ng pamilya't anak bago mo makuha yung pera.
While banks and other financial tools can offer higher rates of return.
Comment lang, banks? Di nga? :p

Sorry, dear, I may have to disagree with this... :) Many banks give rates as low as 2 to 3% for standard deposit accounts. To earn as much as
6%, you'd have to get a time-deposit account, or the amount you have must be very large.
For the average Filipino who doesn't have a million pesos, insurance is something that makes eminent sense, then, as it allows them to pay for a
large policy through monthly installments, gives them life insurance protection, AND gives them higher rates of return than their meager
sweldo might otherwise afford them. :D

Hope it's an interesting read for you so far. :)

During this economic downturn, are there more reasons to get an insurance or otherwise?
Originally Posted by lupuS

Maybe, maybe not.
1) If you feel that recent events have increased the risks of loss, it might be a good time to check your coverage so that risks which were
previously excluded (like acts of war) (nailbiter: this was written Nov. 2001, post 9/11) are now included. This will increase your premium.
2) If your business is slowing down, and some of your protection relates to potential losses arising from "damage" to your business, it might be
a good time to reduce your coverage. For example, business interruption and similar coverage are based on certain revenue assumptions. If
your revenues are reduced because of slow conditions, there is less revenue to protect. Another example is inventory. If you insure the goods in
your warehouse or store, and as a result of slow business you are keeping less stock in the store/warehouse, you don't need as much coverage.
3) Obviously, if you are shutting down parts of your business because of the bad economy, there is less need to insure the assets which the
business uses to operate. It might be better to get rid of the assets altogether.
4) If you are about to be laid off, some coverage (health, accident, etc) which you need and is now being funded by your company might stop
after your employment ends. SO you might want to consider buying supplementary coverage to replace the coverage that will be lost.
Originally Posted by mart1

Kuya Danny, Lupus and Aticus:
I still work for a finance and life insurance company (the one that uses "our signature is your assurance" as a tagline). I must say all your views
are spot on. I wonder if anyone of you worked for an insurance firm before.
Leelayce:
I respect your views. You are right. If you have the know-how and monies to invest, you may get better yields using other financial
instruments. There are a few exceptions though (specially when a mutual company demutializes and a policyholder cashes in). I even had a
maid who left because she got a P300,000 windfall from a competitor when it demutualized last year. Another exception is a dollar product that
a certain french insurance company connected with a major bank is currently selling (I won't go into specifics for obvious reasons). The
guaranteed and projected yeilds of this product is amazingly high (even higher than that of the bank).
Please know that our company recently sold a dollar endowment to a JP Morgan Investment banker three months ago. He placed around US
70,000 with us. Now why would an investment banker buy a life insurance savings product? Two words. Forced Savings.
As easy it is to earn top dollar, that is, if your are on top of your game, it is even easier to spend. I remember a vice president of a local
development bank who told me that she initially used a time deposit to fund the education of her child. Unfortunately, four years later, she need
monies and started withdrawing from the account. Needless to say, there was a funding gap when the time came to pay for the college tuition of
the child. Life Insurance heavily penalizes the "saver" if he/she preterminates the plan.
I always tell my friends (by the way I am not in sales okay), that there are certain future expenses in life that you MUST save for:
a. education
b. retirement
c. long term care (LTC)
- at age 65 and over, you will have difficulty finding health insurance. What you need is a fund to cover LTC need.
d. wedding expenses
e. travel
Personally, I will not gamble on intruments that will not "force" me to save.
Lastly, in 1996, a lot of businessmen used this line to delay their purchase of an Life Insurance Savings Plan - "My business is my insurance"
- . As such, after '97 and '99 financial crises, the same group of businessmen started investing their monies with us. The moral of the story is
that no one exactly knows how their business would fare in the future, therefore, NOW that you have the money, NOW that you are productive,
you should put monies aside to cover expense eventualities of the future.
Key quotes, my fellow HYIP spenders. :D
"Two words. Forced Savings.
As easy it is to earn top dollar, that is, if you are on top of your game, it is even easier to
spend."
Sa pakikipagkwentuhan sa isang PMT member, nabanggit niya 'to. Kung susumahin daw
niya lahat ng supposedly kinita niya from online investments, dapat malaki na. Pero nung
tinitingnan na raw niya yung bank accounts niya, di na niya alam kung san napunta yung
pera.
More, more, more:
Originally Posted by iceman1

Insurance with savings: Insurance companies nowadays have better insurance packages. There's this package where Planholders have both
insurance benefits and savings fund too. It's like saving in the bank while you are at the same time covered. Considering the bank's interest
rates plus witholding tax, Aegon's interest rates for example is 10.5% (at present) per annum (net of tax). And you can make withdrawals (not
loan) thru your savings fund. You can use this plan for your child's education or as a retirement fund. So life insurance not only benefits your
beneficiary but also you the Planholder. While you are still young this is a very good investment.
Originally Posted by Renee

Its very true what aticus said about insurance not being dismissed as a good investment, because nowadays companies package their insurance
plans not only as insurance per se lang..
There are a lot more benefits that you may get out of your insurance package even while you're alive, i.e Dividends, Annual withdrawals,
Health or Maternity benefits.
So kung baga, your family or beneficiary will not only get some financial compensation in the event of your untimely (or even timely :()
demise. But while you are living, you have the option of withdrawing the dividends on a regular basis or leaving it to accumulate into a hefty
lump sum, which you could use to help you build up ur nest egg. Parang you even have a time deposit on the side. :)
Also, the younger you are when you invest, the smaller the amount you have to pay (and the bigger the returns you'll get).
Originally Posted by NelMania

There are many types of life insurance products. It can be a whole life (limited pay included), endowment, term and health. The conformity of
the plan to a person shall depend on his/her needs. It is not true for all cases that you only get protection from life insurance. it can be both a
protection and an investment vehicle. In the case of endowment plan, you can get the maturity benefit when you survive the maturity duration.
You are actually investing your money, at the same time having a protection from some risks outside your control.
In the case of term insurance, the emphasis is only on the protection element. This kind of insurance does not build a cash value that's why this
is the cheapest type of insurance. Now, if you are financially hard-up, but you like protection, you can have a term insurance.
If you give emphasis on your health and hospitalization, you can opt for health insurance. Due to the demand of time and recent trend, this can
be offered as a rider to a whole life plan.
On the thought of life insurance as against bank in terms of yield, well, life insurance has a guarantee yield (cash values for whole life and
endowment) plus the fact that you are insured. On the other hand, bank has no protection against some contingencies concerning your life. But
it protects your fund via PDIC which is limited only to 100,000. (nailbiter: it's P250,000 now.) All I can say is the investment of the funds
depends on the discretion of the person which is dictated by his needs.
Originally Posted by MeAko

Take it from this retiring life insurance agent:
If you are to buy life insurance, talk to a professional life insurance agent (prefarably MDRT member), the person should be able to give you
excellent advise and suggestions like:
1. Ditch a whole life plan. You won't be needing coverage when you're in your 60's or 70's. Get a term/term+endowment life insurance plan
instead.
2. Buy from the stable and big guys: PhilAm, Insular, Ayala, Sun, Prulife, Cocolife, Manulife
Heck!! You're paying thousands of your hard-earned money and all you get is a piece of paper and a promise to pay. You need to know that 10,
20, 30 years down the road, the company is going to be there, kahit na resigned na ang ahente mo!
3. Do not put off buying. Your health is not in your hands, if something were to happen to you or you were to get a disease, you might NOT be
able to buy life insurance anymore.
"Instead of paying monthly/annual premiums (kung ano pa man), the money should be set aside to purchase or be used for other investments
that can "real"-ly help to add one's asset."
This statement is premised on two UNCERTAIN things:

1. That you will successfully and actually set aside money year after year. It's so easy to conveniently forget, isn't it?
2. That nothing will happen to you for the whole target range of time that you will be trying to save and invest. parang hindi nakapasok sa
equation ang uncertainty of life and health
"Kapag ndi naman death insurance, after a certain year, u'll receive "this" amount say 5 million from paying premiums for countless obliging
years. Ganun din yun eh, pinatago mo lang lugi ka pa sa inflation."
Life insurance is sold, not because someone may die, it is sold because someone must continue living. Wives don't believe in insurance--but
widows do.
Your assumption that the P5M plan has been paid for "countless" of years is a painfully mistaken one. The general product available now, for
an endowment term insurance of 20 years is:
For a 30 year old na coverage of P5M:
Annual Premium niya: P250,000 (est)
Payment years: 9-10 years (self-liquidating)
Total cash outlay: Roughly P2.5M (in 9-10 years)
After 20 years: (if he survives) Entitled to P5M+whatever accumulated dividends (roughly mga P4-5M din). If he dies ANYTIME within the
20 year period, his beneficiary will be entilted to P5M+whatever dividends have accumulated.
Sa insurance naman kasi, for every argument that an agent will come up with, clients and lay people will always have a counter-argument.
Insurance and the selling process is not a battle of the smoothness or the strength of arguments and logic. Insurance is plain and simply about
the financial security, the economic certainty of the wife and the kids; so that if anything were to happen to daddy, they would have something
to tide them over. Life insurance is ALWAYS paid! If the bread winners won't pay for it NOW, the widows and children will painfully pay for
it later...
Most men don't do anything wrong; they don't do anything, that's what's wrong! :)
Saka naman yung iba. Gutom na ko. :D

Post by: nailbiter on Dec 21, 2005, 04:01 PM
Okidok, continued from PEx:
Originally Posted by Maxee

i don't want to sound controversial here, but unfortunately, there are things that life insurance agents don't tell prospective clients. let's face it,
between two products an agent would normally recommend the one that gives him/her the higher commission. sad, but true. this is precisely the
reason why pure endowments were so popular in the past even tho it cost the most.
but you're dead right (pardon the pun): it is a good thing and it's better to have a life insurance plan, no matter how flawed, than not have one at
all. it fills in a special need that no other financial instrument can duplicate--if there were no life insurance, people would still invent something
like it because it's a unique product for a particular need.
if there are still doubters out there, allow me to paraphrase this adage: wives may not believe in life insurance but widows do.
Originally Posted by tRiStAn
It came as a surprise to me that many people consider life insurance a waste of money when in fact, it can be a very good investment venue. For
example, the more popular products today are endowment products at certain retirable ages, i.e., 65 and 85. These are products that guarantee
retirement benefits. In addition to that, products that are more geared towards generating favorable interest returns are becoming more and
more popular. One of these include this one product which is includes a fund rider with a guaranteed effective annual rate of 7% and a
minimum annual premium of only Php 600. Obviously this product is more of a direct investment than a life insurance. Not surprisingly this
product is marketed more to the affluent sector since the maintaining balance of the fund is Php 1 M.
Just a comment on the issure of agents withholding information or even giving erroneous information on products. There are many cases when
clients come to us complaining that they thought they were sold a permanent plan when in truth, they were sold a term plan. It was their agent
who told them that they just had to pay for five years and then they will get the benefits on the fifth anniversary date. Which is totally crap
since by virtue of it being just for protection, it does not earn cash values. Insurance companies should see to it that clients know what they are
buying, of course without compromising their sales. But that is up to them to maneuver.
A final comment on the products in general.
Life insurance products come in different packages. Clients just have to choose whichever suits their present and future financial needs.
Usually young people buy term insurance products since these are cheaper. Those who are counting on retirement benefits buy endowment
products. Some of the more affluent of us buy those life insurance with riders that can generate high interest returns. Kanya-kanyang diskarte
na depende sa pangangailangan. Life insurance companies today are even designing new and very flexible products to adapt to the rapidly
changing financial need for protection and security.
Originally Posted by tolstoy

Are you Insured? Why Not?
As of 2000, only a little over 13% of Filipinos have a private life insurance policy.
All new cars as soon as they leave the casa are covered with comprehensive car insurance, against theft, accident, etc..
Yet most fathers and mothers, even those driving these cars, are risking it all without life insurance.
Can you give me some insights why?
Originally Posted by CLY

Japan's population is 90% insured. Japs really believe in the value of insurance and i think most of them can afford to buy.
In our country, only 10-13% lang. minus mo pa yung mga nag-stop paying because of financial problems. I guess kaya ganyan, sa population
natin mga 10% lang talaga has the capability of buying insurance because of financial problems.
I used to not believe in life insurance until the father of a friend passed away. His dad was insured for quite a BIG BIG sum of money that he
was able to buy an expensive condo unit at Makati and a 4X4 SUV and still pay the hospital and funeral expenses and still live a lifestyle as if
their father were still supporting them financially. That made me think twice. I want the same thing to happen to my family should something
go wrong. that's reality, life is uncertain. The bills dont stop when the paycheck does.
Originally Posted by tolstoy

My Dad was taken away when I was 13.
Fortunately, he was insured, which paid for the house mortgage and overnight we had a roof over our heads.
There was money left over for our education in the best schools (at least for few years) and money to lend to others.

Mula naman sa discussion sa GirlTalk:
Originally Posted by twisted_pop

it's better to start early, whether it's health or life insurance. i learned about it's importance when my sis got sick. as in, we were totally
unprepared. :(
even if i'm not working i got myself a life insurance, it's for my kids. you'll never know what will happen, (knowing the nature of my sis's
sickness).
Originally Posted by FunnyLolaKikay

I got mine when I was 21, first job (IT sector) ko pa lang and it was a five years to pay pension plan. Now Im through paying it @26. But since
there were lots of questions in my mind about it, I even joined the insurance company (thats on my second year of paying) and become an
agent myself. From there I learned how it supports unforeseen events in one's life... now I got an additional 2 more coverage (amother 5yrs to
pay and a 20yrs to pay Health-Pension-Insurance Package), both are on their second year. I was afraid kasi na all my earnings will just go to
unavoidable spendings hehe So better to have a "forced saving" in the form of my insurance plans
Originally Posted by maezie88

why did you get 2 more if you have 1 na naman? di ba if na-aksidente ka, covered ka na naman nung isa? is it really necessary to get more?
Originally Posted by sapphire19

minsan kasi kulang if you only have one plan.
take for example a 22 year old who just started working and can only afford a plan that had a P200,000 coverage.
in as little as 10 years, i'm sure magdedepreciate ang peso natin. so that 200,000 coverage will not be enough na. so, kung kaya talaga ng
budget niyo, better to but another insurance pero sapat talaga yung coverage.
take for example my lola who bought an insurance 20 years ago. 300k yung coverage which was a good-sized amount na 20 years ago. but
today, 300k is not that much na.
ang lesson is, go for the highest plan that you can afford right now. tataas din naman kasi ang sweldo mo and the premiums wouldn't be that
bad in the future :) and get plans that doesn't require the insured to die for other people to benefit. may mga plans naman na may living benefits
so you get to also enjoy your investment if you wanted to.
Originally Posted by FP_LJ

It is necessary especially if:
1. You want to give value to yourself - economically. It means if your earning 20,000 per month and that income is the one providing for your
family. You have to be insured 3 Million pesos in order for them to be secured with that monthly income in perpetuity (assuming earning 8%
net) once you hit the bucket.
2. You want to secure yourself with free flowing income once you get disabled or get a debilitating disease and you can no longer work for
money. Same thing, if you presently earning 20,000 per month, you need to have a disablity insurance of at least 3 Million.
3. You already acquired a lot of assets, real or financial, and you have no liquidity for estate tax, which is roughly 20% of your assets.
There are 100 ways in which I can say that insurance is really necessary as financial planning tool.
Other see it as an expense, but how can be an expense if your payments can be deducted to your gross taxable income and if you have outlived
you insurance or it becomes mature, you can get the proceeds 3x - 4x you have paid (it means earning 5%-9% depending on age, health
conditions,etc.)
Top 3 companies in the Philipines:

1. AIG-Philamlife
2. Sunlife
3. Insular Life
Tax deductible nga ba ang life insurance? Sa 1997 tax code, health insurance lang yung
nakita ko sa allowable deductions. Unless na-amend na yon.
Originally Posted by Pedro Penduko

I agree na you can get the plan na afford mo yung annual policy. Then as your disposable income grows, then kuha ka ulit. It's not an outright
expense but clearly an investment because it's like saving in a bank and at the same time may insurance coverage ka pa in case anything
happens to you makikinabang naman mga dependents mo.
It's also advisable na kumuha na kayo ng educational plan sa mga anak nyo. Yung mga bagong educ plans naman ngayon hindi na open ended
like that sa CAP. What you invest in the educational plan, ay monetary equivalent din ang makukuha nyo kasi wala na ngang open ended educ
policy as far as I know.
You can also diversify your investments by putting in:
1. Savings Account - For emergency purposes

2. Time Deposit
3. Mutual Funds - But better ask professional help from the experts. May mga low and high risk kasi. Better kung sa medium risk na lang
kayo invest.
Sa panahon ngayon it's better to be preapred. Ang hirap kapag walang wala ka kahit mga kamag anak mo minsan hindi ka matutulungan and
you end up borrowing from loan sharks.
Originally Posted by babywaby

id rather put my money into a good business where in which it would potentially grow and make the business make money for me.... :)
medyo old fashioned ako when it comes to insurance e. as long as we have SSS ok na yun. business na lang.
Originally Posted by Pedro Penduko

Im glad na you put your money into a business.
But if i may have my opinion again hehe. Eto lang naman po akin sensya na po.
Before, im not a beleiver in getting those insurance policies. Im annoyed at those people nga selling those but things change and so is my
perception of it.
Even good business on a good day may collapse. What if lang it collapse? Do you have a fallback? I know of many old rich people (especially
yung mga mayayaman na taga probinsya) who didnt beleive in insurance nor putting their money in the bank. Sila yung mga cash people
talaga. Its good na wala silang utang or liabilities and liquid sila. But things change and they didnt forsee na yung flourishing business nila ay
malulugi. When they got old, their children na na spoil nila havent had savings too so they end up making utang and selling their hard earned
assets (farms, cars, land holdings even houses). Worse, when they got sick kawawa naman sila. The meager SSS/GSIS pension they got was
not even enough to cover for their daily meals.
Saka lastly ito po true story. May kapitbahay kami na hindi naman mahirap nor mayaman. Namatay yung mother nila and it took them 3 weeks
bago maipalibing kasi short sila ng cash sa burial expenses. They ended up begging for money from their relatives and friends who didnt have
much either. Nung tumatagal yung lamay lumalaki din yung gastos nila kasi sa electricity and food. Very sad ako noon thinking na namatayan
na nga namroblema pa sila sa pera. Eventually naipalibing na rin nila and to think na mag christmas pa naman nun.
Last installment na yan. :D Thoughts naman from PMT?

Post by: trojsioux on Dec 21, 2005, 04:57 PM
In every plan yata THE EARLIER THE BETTER talaga ang mantra....
Even in retirement plans....dapat maaga talaga lalo na if there is a compounding option...

the power of compounding is principally affected by the factor of time. The earlier you
compound the bigger your money will be.
For memorial services plan, please see my post in this thread. Thanks.
http://www.pinoymoneytalk.com/forum/showthread.php?t=1767
:p

Post by: FutureGizmo on Dec 21, 2005, 06:25 PM
hehe nailbiter, ang hahaba kasi ata ng posts mo kaya nde makasunod yung ibang mems
kaya nde na sila nagpopost ng reply sa post mo. isa-isang points lang muna.. :)
ako, i have insurance sa Ayala Life. annual yung contribution for 5 years, tapos after nun
mage-earn na ng yearly dividends yung account ko. tapos pwede ko withdrawhin
anytime. third year ko na sa pagbabayad ng premium. nde gaano kalaki makukuha pero
pede na rin para sa aking maiiwang mahal sa buhay :D

Kinarir ko yang quotes maghapon ngayon. :hihi: Seriously, feeling ko mahalagang bagay
ito kaya humugot na lang ako ng pwedeng pagmulan ng diskusyon. Siyempre kanya-
kanya tayo ng diskarte pero ang sa 'kin e paalala lang ba na bago sumugal sa pagnanasang
makalikom e siguraduhin munang meron talagang natatabi, naiipon, nakalaan para sa
mga bagay na di inaasahan. :)
Post by: ewancoo on Dec 21, 2005, 11:51 PM
ang lalalim nyo magtagalog ah, nde ko maarok :p

Post by: bukojoe on Jan 09, 2006, 11:38 PM
nice post nailbiter. Ako din i started getting insurance policy when i was 25. Then i
started working abroad at tama ang lahat ng sabi ng iba. Habang lumalaki ang kita
mo..lumalaki din ang gastos. Minsan di mo alam kung saan napupunta ang pera. What i
initially did was then to settle all my CC debts ( hindi ko alam bat nagkaroon ako ng 4
credit cards,lahat sagad). After paying for them. I started saving, then alloted some
percentage to get an educational plan for my kids (2 of them), medyo malaki pero its well
worth it. Iniisip ko na lang, pera ko din naman yun. Then I started investing in bonds and
equity (just started this month). Tapos kumuha din ako ng pension. Di kalakihan ang
return, pero at least meron. Sa Sun-Life na ako dati pa so lahat yan sa kanila ko kinuha.
Ang point nga nila ay "Forced Savings". Di ko alam kung marami din dito ang nag invest
sa mutual funds, for long term investment ika nga.
I don't know kung nabasa nyo na tong book na to, but was a good read. Was reading it
habang binabantayan ko mrs ko sa hospital (health insurance din importante)
http://www.libros.com.ph/bookdetails.asp?bookid=9789719299509

Post by: nailbiter on Jan 10, 2006, 09:47 AM
OT: Si Colayco? Mukhang popular nga rin siya rito pero di ko pa nababasa yan. :)

Post by: Langerhans on Jan 13, 2006, 01:01 AM
@ nailbiter, all around ka talaga. I didn't expect that even insurance will be tackled here
at PMT. Just this afternoon, me and my colleagues talked about how the education and
life insurance soar up abruptly. They are too expensive nowadays.

Post by: lehboy on Jan 13, 2006, 01:09 AM
Insurance is expensive nga talaga, pero kung may namatay, sila talaga unang
magbabayad. Yung mga banko, most of the time they'll freeze your accounts (unless
kilala mo talaga) until masettle na talaga lahat ng estate taxes. It's good to have insurance
as part of one's portfolio also :)

Post by: chavarlison on Jan 14, 2006, 06:04 PM
Master of passive entrepreneurship yang si Colayco,almost guru status n yan, here is his
website http://www.colaycofoundation.com/
kung magbigay yan ng seminars e please try to attend as it is most educational

Post by: annanymous on Jan 29, 2006, 02:18 PM
Ako po, I have an accident insurance sa PhilamLife. Actually wala naman talaga kong
balak kumuha kaya lang nakulitan ako sa tumawag sa phone na tga-HSBC. May Red
Mastercard kasi ako sa HSBC then he asked me if gusto ko daw ng insurance since sa
credit card naman daw ang charge monthly. Sobrang kulit kaya nag-yes na lang ako.
And then after two weeks nareceived ko na yung insurance policy and then the next
month nakacharge na sa CC ko yung monthly premium.
Ask ko lang po, lahat ba ng insurance kapag hindi na-avail pwedeng i-withdraw in the
future yung mga binayad mo?:confused:

Post by: nailbiter on Feb 03, 2006, 01:12 PM
Found this on PEx:
Quote
For those who are interested in getting an educational or pension plan, there is a promo in
Sun Life on going until February 22, 2005. Here are gifts automatically given to clients:
PLAN 100 - Initial Investment is Php100,000 and above; Gift Options are LG 21-inch
flat screen tv or Nokia 6020.
PLAN 55 - Initial Investment is Php55,000 to Php99,000; Gift Options are Samsung YP-
T4H MP3 Player or Wilson Badminton Set
PLAN 35 - Initial Investment is Php35,000 to Php54,999; Gift Options are Canon

Canoscan (scanner) or Nike Cuff Watch
PLAN 20 - Initial Investment is Php20,000 to Php 34,999; Gift Options are Coleman
Tent and Coleman Pesonal Cooler or 1 Year Magazine Subscription (Summit Magazine)
Baka you've always been thinking of getting a pension or an educational plan pero di nyo
nahaharap. At least ito may konting incentive. :mrgreen: Scary ang preneed after CAP
and PEP but I don't think you can go wrong with a company like Sunlife. :)
Info on their preneed plans from their webpage: http://www.sunlife.com.ph/preneed/

Post by: ams on Feb 03, 2006, 10:40 PM
guys any suggestion on a really good accident insurance? i travel alot kasi and although
meron naman sa company, it still pays to have backup...baka may bumanga sakin na benz
mahirap na... :) :ninja:

Post by: DropZite on Mar 11, 2006, 12:47 AM
Meron bang comprehensive insurance para sa motorbikes yung sunlife? Wala kasi ako
makita sa website nila...
Anyone here heard of Standard Insurance? Ok ba dyan? Madali lang mag claim? Here's
there website - http://www.standard-insurance.com/

Post by: nailbiter on Mar 27, 2006, 05:31 PM
Dadagdag na rin ako sa mga nagtatanong. In the MF thread, na-mention ng isang member
na parang mas gusto niyang mag-invest long-term sa MF/UITF for his kids' education.
I'm wondering if meron ditong familiar sa educational plans ng Sunlife. Kumusta ba yung
plans nila? I don't have a kid so I'm not shopping around for educational plans kaya wala
akong basis for comparison. (May kakilala yung isang friend ko na kumuha ng educ plan
kahit single pa siya at wala pang anak, para mas mura raw ang premium. High-tech.) I do
know that one of the things you should go for in an insurance company is stability
(especially after what happened with PEP and CAP as I wrote above). Last year ko nga
lang nalaman na may pre-need na rin pala ang Sunlife. So sa medyo pamilyar, think their
plans are any good? O mas tama nga yung plano na mag-MF/UITF na lang?

Post by: Champoy on Apr 06, 2006, 05:07 PM
Nailbiter,
I'm also from sunlife. Im the type na titignan ko muna lahat, bago bili...ayaw malugi.
Anyway, I've studied all three products of sunlife..insurance, preneed and mutual funds.
If you are looking for something to serve as an educational fund, as I was a month
ago...I would strongly suggest going into Mutual funds or Variable insurance (as you
know, that one incorporates mutual fund with insurance). The returns here are not
guaranteed, just like itong mga online investments...but based on historical data..good
naman and yields ng sunlife, and that's with conservative investment managers pa of a
very stable and established company. i don't think any preneed plan can generate this
"return" for you. Preneed kasi, even in sunlife, because it's "guaranteed", tends to project
future values based on "very very very worse case scenarios". Kapag ganon, maliit lang
"guarantee" return nila for us. Sabi nga nung isang nag explain kung bakit maliit yan...in
the remote case na an asteroid hits the Philippines, kaya pa rin nilang panindigan at
bayaran yung "guaranteed" future amount. Of course, you don't get any such guarantee
from mutual funds. But if you are a risk taker like me, you'll opt for MF na. As an
example, the "educational fund" I placed first week march sa sunlife VUL has earned 6%
last month...

Post by: healthypinoy on Aug 06, 2006, 06:07 AM
Quote from: nailbiter on Mar 27, 2006, 05:31 PM

Dadagdag na rin ako sa mga nagtatanong. In the MF thread, na-mention ng isang member
na parang mas gusto niyang mag-invest long-term sa MF/UITF for his kids' education.
I'm wondering if meron ditong familiar sa educational plans ng Sunlife. Kumusta ba yung
plans nila? I don't have a kid so I'm not shopping around for educational plans kaya wala
akong basis for comparison. (May kakilala yung isang friend ko na kumuha ng educ plan
kahit single pa siya at wala pang anak, para mas mura raw ang premium. High-tech.) I do
know that one of the things you should go for in an insurance company is stability
(especially after what happened with PEP and CAP as I wrote above). Last year ko nga
lang nalaman na may pre-need na rin pala ang Sunlife. So sa medyo pamilyar, think their
plans are any good? O mas tama nga yung plano na mag-MF/UITF na lang?
I have been an insurance agent for Philamlife for more than 3 years already. Kaya, I will
share what I know.
With regards to educ plans, siguro may pros and cons if compared to MF/UITF. Sa educ
plans (with life insurance companies), and pinakamagandang feature lang eh yung
insurance side nya. Incase na meron mangyari sayo even after you haven't fully paid the
policy eh sure ka na merong matatanggap ang anak mo for his college education.
Like with our educ plan sa Philamlife, we have several features that can be of use incase
something happens sa client. If not yet fully paid, waived na yung remaining premiums.
Kung accident ang kinamatay, may makukuha yung beneficiaries na P500,000 or
P750,000 depending sa plan. Then merong fund na iprovide sa bata incase may mangyari
sa client na hindi pa nakaka abot sa age six yung bata. Starting at age six, meron syang
matanggap na semestral (every six months) na pera para support sa kanyang studies sa
elementary and high school. As to the amount, percentage lang yun ng coverage mo. So
tuloy tuloy yun until such time na mag college naman sya, papasok naman yung college
educ plan na nya.
Sa plan namin, 2 ang nakainsure. Yung bata at the same time yung payor. Yung bata
insured up to age 23. Yung payor hanggang paying period. Paying period varies.
Merong fixed na 5 years to pay meron naman convenience na up to age sixteen nung
bata. mas magaan at mas mura ang payments kapag up to age sixteen. Yun nga lang,
you pay more syempre because of the interests.
Sa MF/UITF, walang ganitong mga features. With this kind of investments kasi, you will
wait for you money to earn until you can get your earnings. Unlike with a educ plan with
a life insurance, you can get the funds already if something happens to the payor. You
have the option to get the insured amount or leave it with the company so that when the
time comes that you will need the money for college education, nandyan na.
May bonus pa after graduation. And all of the benefits will be given to kahit anong
maging decision ng anak mo. Kahit na hindi na sya magaral or maging scholar, eh
ibibigay pa rin syo yung pera mo na nakalaan for the college education. You can then
use it for any purpose that you would want.
Sa plan namin, kailangan meron bata talaga. Kasi nga insured din yung bata.
Compare nyo with other educ plans. See the difference.
If you guys need any help with any kind of insurance, life, non life, accident, property,
car insurance, health care, etc, you can ask me. Lahat ng klaseng insurance meron ang
Philam Life.
thanks and more power to everyone.
Congratulations to everybody who has insurance already! Atleast you are ready for life.
hp

Post by: Emo on Aug 06, 2006, 07:45 AM
Quote from: annanymous on Jan 29, 2006, 02:18 PM

Ask ko lang po, lahat ba ng insurance kapag hindi na-avail pwedeng i-withdraw in the
future yung mga binayad mo?:confused:
if i may share yung naiintindihan ko, it depends on many things. nag-mature na ba yung
policy? nag-lapse na ba ang policy mo? gaano ka na katagal nagbabayad?
afaik, lahat ng insurance may "face value" which is the primary benefit you will receive
upon maturity of the insurance. lahat din ng insurance may "cash value", and if i'm not
mistaken nasa batas yan. yun e, from the 2nd quarter onwards at any given time if you
decide to withdraw that's the value you may claim.
hindi yung premium mo ang receivables mo sa insurance. the premium is not like a bank
deposit. its only the corresponding cash value which you may claim if you wish to
terminate the insurance. the longer you have been paying your premiums the higher the
cash value. note, sa 1st quarter payments wala kang ma-claim na cash value. ang face
value naman, you will receive only when conditions for the benefit are fully met.
mga agents diyan, tama ba? this is what i remember and understand when i was studying
to be an agent dati. :hihi: paki-correct na lang.
as for the topic question, i do have an accident insurance and i will be getting life
insurance as well as a college plan for my baby sa philam. na-burn kami sa cap. we lost
about a year and a half of premiums on that one. (btw, anybody know how we can make
claims at cap? hindi ba na freeze na sila?)
regarding the insurance vs. mf/uitf debacle, dapat seperate ang insurance sa investment.
put some of your funds on investments but have an insurance also. magkaibang
kaperahan yan e and its for different purposes. insurance is for just in case something
goes wrong (and by murphy's law, something will go wrong). now, kung alin ang
uunahin mong pondohan, investment or insurance, depende na yan sa long-term budget
mo and how well you trust your financial agents and the company. go back to my
discussions on how to budget... (http://www.pinoymoneytalk.com/forum/index.php?
topic=4021.0) my only other tip is, always read the fine print.

Post by: boyaks on Aug 07, 2006, 02:31 PM
anybody currently under insular life's 3 in 1 money back plan?

Post by: healthypinoy on Aug 07, 2006, 10:52 PM
Quote from: Emo on Aug 06, 2006, 07:45 AM

if i may share yung naiintindihan ko, it depends on many things. nag-mature na ba yung
policy? nag-lapse na ba ang policy mo? gaano ka na katagal nagbabayad?
afaik, lahat ng insurance may "face value" which is the primary benefit you will receive
upon maturity of the insurance. lahat din ng insurance may "cash value", and if i'm not
mistaken nasa batas yan. yun e, from the 2nd quarter onwards at any given time if you
decide to withdraw that's the value you may claim.
hindi yung premium mo ang receivables mo sa insurance. the premium is not like a bank
deposit. its only the corresponding cash value which you may claim if you wish to
terminate the insurance. the longer you have been paying your premiums the higher the
cash value. note, sa 1st quarter payments wala kang ma-claim na cash value. ang face
value naman, you will receive only when conditions for the benefit are fully met.
mga agents diyan, tama ba? this is what i remember and understand when i was studying
to be an agent dati. :hihi: paki-correct na lang.
as for the topic question, i do have an accident insurance and i will be getting life
insurance as well as a college plan for my baby sa philam. na-burn kami sa cap. we lost
about a year and a half of premiums on that one. (btw, anybody know how we can make
claims at cap? hindi ba na freeze na sila?)
regarding the insurance vs. mf/uitf debacle, dapat seperate ang insurance sa investment.
put some of your funds on investments but have an insurance also. magkaibang
kaperahan yan e and its for different purposes. insurance is for just in case something
goes wrong (and by murphy's law, something will go wrong). now, kung alin ang
uunahin mong pondohan, investment or insurance, depende na yan sa long-term budget
mo and how well you trust your financial agents and the company. go back to my
discussions on how to budget... (http://www.pinoymoneytalk.com/forum/index.php?
topic=4021.0) my only other tip is, always read the fine print.
Tama ka sir Emo about the cash value. Usually on the 3rd year of payment pa lang
nagkakaroon ng cash value but it does not sum up to your total payments.
If your plan is participating, meaning with dividends, then your plan also earns dividends
every year depending on the company performance. Kaya if you wish to surrender your
plan before maturity, you can check how much cash value you have accumulated and
how much total dividends there are.
:offtopic:
Sir Emo, baka I can be of service to you being a PhilamLIfe agent.
thanks po and ingat lagi.
hp

Post by: Emo on Aug 12, 2006, 08:55 AM
^thanks sa offer hp but i am already getting the services of a philam agent. now if you
know someone from cap who can help us get something from our defunct plan... sana.
:rant:
sa totoo lang isinasa-diyos na lang namin. :cry:

Post by: healthypinoy on Aug 13, 2006, 02:02 PM
No problem sir Emo.
Dont know anyone who can help you with cap. Actually, meron din po ako mga kaibigan
na just wait and see na lang kung ano mangyari sa plan nila. Others have just moved on
with their lives. ;)

Buhayin ko lang ang thread na 'to.
May insurance ba para dun sa pagkamatay sa sakit? Kasi ang alam ko lang, yung life
insurance eh para lang dun sa mga aksidente. May life insurance ako bukod pa dun sa
group insurance namin sa company. Puro aksidente lang nababanggit dun. Eh paano
kung di naman ako sa aksidente mamatay kundi sa sakit, kawawa naman mga mahal ko
sa buhay kung wala silang benefits na makukuha.

Post by: nailbiter on Jan 21, 2007, 04:50 PM
Baka accident insurance lang yon. Nako-cover ang deaths from illness sa life insurance.
Pero ginagawan muna ng profile ang client -- medical history, kung smoker ba o non-
smoker, kung nag-e-engage ba sa delikadong activities like extreme sports. Those factors
would determine the extent of your coverage/the cost of your premiums. Additional
coverage for critical conditions, accidental deaths, kahit murder pa nga, and other
benefits may be availed of as riders, but you pay added cost for that as well.

Âh ok. Baka nga accident insurance lang yon. Kuha na lang ako ng life insurance. May
masa-suggest ba kayo na ok ang service at mura?
Post by: nailbiter on Jan 21, 2007, 06:54 PM
Sunlife hands down pagdating sa service. Agent nga kasi ang nanay ko and I know the
lengths she goes to for her clients. And when it comes to insurance, hindi ito dapat
sinusugal, you should definitely go with a solid company. Hindi yung pahirapan pa
pagdating sa claims. If you want to take a look at their products, check mo yung product
fitting section sa website nila: http://www.sunlife.com.ph/services/productfitting.asp Or
you could get in touch with an agent to prepare a proposal for you. If you need an agent, I
can give you my mother's contact info. PM mo lang ako if ever. :)

Ây oo nga, bakit ba di ko naisip agad ang Sunlife? Solid nga yan. Kilala ko auditor nila
kaya madali kong malalaman kapag nagkaproblema. Anyway, inform na lang kita pag
ready na kong kumuha ng insurance. Salamat uli! :)

Post by: hitso on Feb 06, 2007, 12:31 AM
hi nailbiter! need your advice, i heard your mom is an agent for sunlife. i already have
life insurance w/ sunlife but i want to have another investment for the medium-term like
3-5 yrs.
what would be better? getting a variable life insurance (sun flexi link) or a mutual
fund(sunlife Balanced Fund)?
thanks!

Post by: nailbiter on Feb 06, 2007, 07:48 AM
Hi hitso, nakita ko rin yung post mo sa variable life insurance thread. If you're looking
for a medium-term investment, then you're better off with the balanced fund. Variable life
insurance is not an investment product. Your premiums will be placed in an investment
fund that would give you your policy value. It's not something you can really take out in
3 to 5 years. Though you can probably take out a loan on your fund value. It's best to ask
your agent about it, mas alam nila yung terms. If you want my mom's number, just PM
me.
Post by: hitso on Feb 06, 2007, 09:17 AM
thanks for the advice! :thumbsup2 will just ask my agent about it.

Post by: juleslipic on Mar 14, 2007, 10:40 PM
I want to purchase a life insurance and medical insurance (esp medical which I believe is
a need now) as early as I can. I'll be 26 and I don't want to worry about these in the future
(sana) esp kung magkakapamilya ka in the future, knowing the premiums get a lot more
expensive as you grow older. So with this product, I get to have medical and life
insurance for me without touching the principal. After that, on to my next goal...

Post by: tacamonchi on Mar 15, 2007, 06:42 AM
J, what is this product that offers medical and life insurance at the same time? does it also
offer some sort of interest- a 3 in 1 product?

Post by: investorsportal on Mar 15, 2007, 08:00 AM
@juleslipic, please share naman this product you're talking about.
As far as I know, life insurance products with medical or what they call daily hospital
income benefit is kinda high in premium. This has life insurance that will earn a little
each year and if you get hospitalized, you are refunded the amount as stated in the policy.
There are term life insurance products too with hospital benefit but most of these are for
group plans.
Our present health plan is not as expensive as our previous one and yet it has serve us
well. It's a yearly renewal thing you have to do, so if you don't use it, throw away money
na yan. If you do get to use it for lab, check up or hospitalization, sulit ka na rin. But
who wants to get sick or hospitalized just to get your monies worth! :hihi:

Post by: juleslipic on Mar 15, 2007, 09:06 AM
@investorportal
Sorry po ha, but what I meant was two separate plans. I was talking 1 life insurance and 1
medical insurance po. Yung life insurance na kukunin ko po is not offered anymore, I just
actually tried to get one after the deadline and na approve naman po. But here's the
summary of the plan. If you're interest I will try to contact, if pwede pa po. Marami pa po
kasing pending for approval about this plan.
Life Insurance:
- it's payable for 3 years , but what I like about it is the it doubles your life insurance on
the 3rd policy years onwards. So if I get 1M, magiging 1.5M cya on the 2nd year, and
then 2M on the 3rd year.
- in case of disability may 1M and may medical reimbursement of 100k a year until age
72
- there's a guaranteed cash value (6-7%) , with this I'm thinking medyo safe na sa
inflation. Unless inflation goes higher than these rates + yung accumulated
dividends+bonus coverage of up to 40% of cash value or 300k maximum.
Yung sa medical naman po, I was thinking of Caritas Health Shield yung Gold plan nila.
They're offering 2 plans: expanded 6, which is payable for 5 years; and expanded 10,
which is payable for 10 years.
For example, for expanded 10 Gold with a 100k coverage:
=FOR THE FIRST 5 YRS=
- free 12 consultations annual (12x5), that's 60 consultations in 5 years
- free annual physical examination
- free dental consultation, yearly din po
- gives for example for 100k: 30k maximum PER ILLNESS with a 1000k/room rate for
Year 1, increasing yung maximum nito every year so on the 2nd year magiging 40k per
illness+1200/room rate onwards.
=ON THE 6th YEAR=
- the above mentioned on the first 5 yrs will be gone BUT your 100k will earn an 8% p.a
if untouched (if you're not having an illness more than their maximum limit per illness),
and 5% if the face amount was touched due to illness on the 1st 5 yrs.
=ON THE 7th YEAR=
- the coverage you will get is transferable to anyone in your family up the the 2nd degree.
So if there's someone in your family (God forbid) who gets sick and needs medical help.
You can make use of your plan to help him/her for medical treatments.
Kaya lang medyo expensive nga cya, and you're really forced to save cause its payable in
5 years nga po. Pero ok din naman, disciplined savings lang talaga kailangan.
If you want naman the 3 in 1 product. They have it din, I heard malakas din po to sa
Manila but not Cebu. Payable for 3 years, it's a life insurance+cash benefit (they will give
an an amount on depending on how much yung kinuha mo) like 20k on the 10th year for
10 YRS, and on the 20th YR gives you an amount equal to the face amount+cash value
and dividends. But for me lang po at may age, medyo expensive kac so I didn't get this
product. If you're interested, just pm me and I can refer you to my agent. He really
explains it well.
The two I mentioned is medyo expensive din po, but I'm still young and very able so I
have to grab these while I'm still able to work and save kasi nga wala pa akong family of
my own.

Post by: tacamonchi on Mar 15, 2007, 09:40 AM
all of the above looks good depending on one's objectives. Yep, medical and life
insurance would be relevant for you since you are quite young. In my case, i am already
heavily insured and as to medical bills, I am old enough to have enough money to pay for
medical emergencies. In fact, five years ago, I stopped paying comprehensive insurance
for my cars since i computed that I could save more than enough to pay the actual
damages to my car in case of an accident. I must have saved about 200,000 in the last
five years by just paying the mandatory TPL insurance and foregoing the compre.
I want to get interest from my money on a monthly basis so that this becomes part of my
disposable income. I do not like to wait for 10 or 20 years before i can avail of the fruits
of my money, or worse to die first so that my heirs can enjoy my money!!! :cry:

Post by: juleslipic on Mar 15, 2007, 10:18 AM
@tacamonchi
Yes, that's true po... Not that I'm gonna depend solely on that in the future, but just in
case... I wouldn't know what's gonna happen in the future kasi, I may be physically fit
now but dunno tomorrow or in the future. Just that I may not have enough resources, if
ever (hindi naman sana hehe) magkakasakit ako earlier in life. The life insurance din
naman is I get to have life insurance and what I'm thinking is when there's something I
can get out in turns of dividends just in case I really really really needed it na. It could
also serve as my retirement money which I could get to enjoy early kasi nga I started it
early din :)

Post by: tacamonchi on Mar 15, 2007, 12:01 PM
just don't believe your life insurance agent when he/she tells you that after 15 years, your
accumulated dividends will be enough to pay the subsequent annual premiums. Never
happens, you will paying for about 20 years before that becomes remotely possible. You
are young, so first get life insurance while the cost of the premium is still low because of
your age bracket.
Post by: juleslipic on Mar 15, 2007, 12:24 PM
I don't need to worry about that, cause the life insurance that I will be getting is only
payable for 3 years :). And it will earn dividends right away. So its earning dividends
already even on my first policy payment po :)

Post by: oishidu on Mar 30, 2007, 11:26 AM
sino taga manulife dito? ano ba ung whole life insurance policy? i got one from manulife
when i was 21yrs old (binili ko kasi kulit kulit nanay nung classmate ko na agent ng
manulife). DI ko nga alam details nung plan eh waaa hehehe bayad lang ako ng bayad.
Aba ilan taon na ako nagbabayad di pa man nag seself liquidate ung plan. anyone have an
idea on this?
:rofl: pero actually sulit na i earn profit from it already kasi nakabenefit ako sa
demutualization nung manulife at ung dividend earnings ko every year is more than the
amount i paid for the premium. Akalain mo grasya pla kahit banas na banas na ako nun sa
nanay ng classmate ko sa kakakulit
Pero nalilito pa din ako kelan sya matatapos bayad. me katapusan ba? ung agent at staff
ng manulife cant give clear answers hayyyy

Post by: juleslipic on May 07, 2007, 10:29 AM
My dad is planning to get another life insurance pero what if medyo malaki yung kukunin
niya? Pwede kayang mag email to different insurance companies for a free quote? Para
naman makakuha kami ng good price... :think:

Post by: annanymous on Jul 29, 2007, 12:36 AM
Kuha na lang ako ng life insurance. May masa-suggest ba kayo na ok ang service at
mura?
Up ko lang uli itong thread. Gusto ko na kasi talagang kumuha ng life insurance. Saan ba
maganda at mura ang premium? Gusto ko sana yung hindi lifetime babayaran. Yung
halimbawa 5-10 years babayaran pero lifetime ang coverage. Nagtingin-tingin ako sa
mga sites ng iba't ibang companies pero hindi naman sinabi kung magkano ang premium.
Kailangan kakausapin pa yung agent. Ayoko namang kumausap ng agent na hindi pa ako
sure kung dun nga ako sa kanya kukuha ng insurance. Ico-compare ko muna sana yung
iba't ibang types ng insurance ng mga companies bago ako kumausap ng agent. Pag
nakapag-decide na ako kung anong plan at saang company, saka na lang ako kakausap ng
agent.
Post nyo naman dito yung insurance plan nyo. Bakit yun ang napili nyo at magkano ang
premium? Salamat.

Post by: ekimonk on Jul 29, 2007, 12:54 AM
well wala pa din akong life insurance.. pero parang ok sa philam.. saka its your choice
naman how long you gonna pay it.. mas maganda kung mababayaran mo ng mas mabilis
since mas mababa yung total payment..
meron ang philam na combination ng health, life, pension ..

Posted on: Jul 29, 2007, 12:52 AM
Buhayin ko lang ang thread na 'to.
May insurance ba para dun sa pagkamatay sa sakit? Kasi ang alam ko lang, yung life
insurance eh para lang dun sa mga aksidente. May life insurance ako bukod pa dun sa
group insurance namin sa company. Puro aksidente lang nababanggit dun. Eh paano
kung di naman ako sa aksidente mamatay kundi sa sakit, kawawa naman mga mahal ko
sa buhay kung wala silang benefits na makukuha.
mas malaki lang ang makukuha nung dependent pag namatay sa accident.. times 4 ata..
pero kahit namatay sa sakit meron pa din makukuha.. unless accident insurance lang
kinuha mo.. life insurance nga yan di ba? o di pag nawala yung life sa sakit :hihi: :D

Post by: sardonyx on Jul 29, 2007, 10:40 AM
annanymous, don't consider the lowest premium payments as your basis in choosing
your insurance. choose the more established insurance companies like sunlife and philam.
mahirap ng mapagtakbuhan tayo sa mga fly-by-night insurance companies. meron
namang 5-10 years payment lang for example.mas mura ang premiums kung bata pa lang
kayo. yung kinuha ko sa sunlife, endowment policy yun na life insurance na din. my total
premium payments is good for 13 years. after a few more years, i'll receive a lump sum
payment equivalent to the face amount of the policy and still be covered for life.
Post by: dwin on Jul 29, 2007, 11:27 AM
Anna, saming mag-anak Sun Exclusive Plus ang tawag sa kinuha namin sa sunlife. Gang
12 – 13 years nga, gaya ng sabi ni sardonyx, if you want it converted to a fully paid plan.
Pero may option ka rin na maghulog pang-habambuhay, kung saan mas malaki
matatanggap mo pag nag-retire ka na.
Advise ko lagyan mo na rin ng riders like HIB (Hospital Income Benefit). Katulad to
nong Medisave ng Philam, pero mas mura (I think) kase nga rider lang sya lumalabas.
Yung 12 – 13 years ay magiging totoo kung di mo kukunin yung dividend na magiging

available sa’yo after the 4th year anniversary. After the 4th year kase, every 2 years from
then on pwede ka mag-avail ng dividend. Pero pag ginawa mo yun, hahaba pa sa 13 years
ang premium payments mo (kung di ako nagkakamali).
I’m sure NB knows more about this. :)

Post by: nailbiter on Jul 29, 2007, 11:39 AM
^Naku, hindi rin. Nanay ko po yung taga-Sun Life, hindi ako. :)
Quote from: annanymous on Jul 29, 2007, 12:36 AM
Nagtingin-tingin ako sa mga sites ng iba't ibang companies pero hindi naman sinabi kung
magkano ang premium. Kailangan kakausapin pa yung agent.
Hindi talaga yan makukuha sa net kasi ang premium nagde-depend sa ilang factors: age,
sex, kung smoker ba o non-smoker, tipong ganon.
Quote from: sardonyx on Jul 29, 2007, 10:40 AM
don't consider the lowest premium payments as your basis in choosing your insurance.
choose the more established insurance companies like sunlife and philam. mahirap ng
mapagtakbuhan tayo sa mga fly-by-night insurance companies.
I agree completely. Ang hirap isipin non, nawalan ka na, pahihirapan ka pa. :(
Post by: annanymous on Jul 29, 2007, 02:02 PM
annanymous, don't consider the lowest premium payments as your basis in choosing
your insurance.
sardonyx, thanks pero na-misinterpret mo yata yung sinabi ko. Pasensya na hindi kasi ako
magaling sa salita eh. :hihi: Ang ibig kong sabihin ay lowest premium among the best
insurance companies. Halimbawa, may parehong insurance plan ang Sunlife at Philam -
pareho ng benefits at number of years to pay, pero mas mababa ang premium ng sa
Sunlife. Syempre yung sa Sunlife yung pipiliin ko. Hindi naman ako kukuha ng
insurance dun sa mga companies na hindi matatag.
after a few more years, i'll receive a lump sum payment equivalent to the face amount of
the policy and still be covered for life.
Gusto ko sana yung ganyang plan. Para kahit papaano may return.
@dwin, thanks sa advice! :)

Post by: sardonyx on Jul 29, 2007, 02:08 PM
ânnanymous, di naman kasi exact benefits yung ino-offer nila. iba2x ang features ng
mga plans ng insurance companies. kaya may iba na lower ang premiums. kaya, dapat na
pag aralan ng mabuti ang proposals nila para makikita mo kung ano ang bagay sa iyo. :)

Ôk. Pwede kaya akong humingi muna ng proposals sa kanila thru email? Nakalagay
kasi sa mga sites na makikipag-appointment sa agent. Ayoko munang makipag-usap sa
agent kasi baka mag-explain nang mag-explain tapos hindi ko naman magustuhan at
hindi ako sa kanya kumuha, nakakahiya naman kung ganon. Ayoko rin namang kumuha
ng insurance plan just because ayoko lang mapahiya yung agent. Gusto ko pag kausap ko
yung agent, nakapag-decide na talaga ako kung anong plan kukunin ko. Meron bang
ganon? Meron bang papayag na mag-send muna sa kin ng mga proposals?
Post by: ekimonk on Jul 29, 2007, 04:35 PM
ikaw na mismo pumunta sa offices nila.. ganun naman talaga trabaho ng mga agent..
makukulit talaga sila.. wala kang magagawa kung makulit sila..alam naman nila yun na
you are still examining the plans.. kahit ako nga kinukulit..
minsan kahit na meron ka na nung detailed policy you still must examine the content, and
keep on asking questions, much better of you list down all the questions.. baka may mga
loopholes yung contract that is to the advantage of the insurance company.. kaya its your
decision pa din..
ang gawin mo kuha ka ng insurance na mababa lang ang life coverage say (500k life
insurance coverage) para maliit ang premium..
then after 20 years kuha ka uli ng another insurance, since for sure after 20 years e maliit
na sobra yung 500k pesos.. baka kulang na pampalibing yun.. hehehe.. :hihi:

Post by: nailbiter on Jul 29, 2007, 05:23 PM
Quote from: annanymous on Jul 29, 2007, 02:19 PM
Ôk. Pwede kaya akong humingi muna ng proposals sa kanila thru email?
Tinanong ko nanay ko, puwede raw. She'll need to know your birthday, smoking habits,
what your objective is (investment or protection). I can give you her e-mail if you want
tapos specify mo lahat ng requirements mo.

^May PM ako sayo.

Post by: steph on Jul 31, 2007, 06:02 PM
Quote from: dwin on Jul 29, 2007, 11:27 AM
Yung 12 – 13 years ay magiging totoo kung di mo kukunin yung dividend na magiging

available sa’yo after the 4th year anniversary. After the 4th year kase, every 2 years from
then on pwede ka mag-avail ng dividend. Pero pag ginawa mo yun, hahaba pa sa 13 years
ang premium payments mo (kung di ako nagkakamali).
I’m sure NB knows more about this. :)
for sunlife, ang alam ko un after every 4 years and 2 years thereafter endowment benefit
na nun plan na un. :) un dividend kasi pwede mong kunin every year.
i attended sunlife's training pala for insurance agents. kaya kung gusto niyo ng insurance,
tayo nalang usap hehe para makapractice din ako ng pagsell :)

Post by: millette05 on Aug 08, 2007, 11:29 AM
There are different kinds of Life Insurances. I'll list some.
Accident Insurance/Term Insurance (cheapest since you pay on a yearly basis; coverage
ends after the contractual year)
DIVIDEND Earning life plans:

Life Insurance (payment maybe in 7, 10, 15 or 20 years; you're covered for life) - your
beneficiary get the benefits/insurance proceeds plus interests/dividends when you die
Endowment (payment is usually 20 years; the policyholder's coverage ends when he gets
the full face amount at the end of 20years)
Pension (available at 5, 10, 15 and 20 years; the policyholder's coverage ends when he
gets the full face amount at the policy's maturity)

Post by: jhesqi on Sep 02, 2007, 02:03 PM
kelangan ba ang life insurance ..... na kelangan lahat eh meron nun ...... wala kasi ako nun
ih ..... tsaka anu ba maganda ngayon :rakenrol:

Post by: mxherr5 on Sep 19, 2007, 01:47 PM
Quote from: juleslipic on Mar 15, 2007, 09:06 AM
Life Insurance:
- it's payable for 3 years , but what I like about it is the it doubles your life insurance on
the 3rd policy years onwards. So if I get 1M, magiging 1.5M cya on the 2nd year, and
then 2M on the 3rd year.
- in case of disability may 1M and may medical reimbursement of 100k a year until age
72
- there's a guaranteed cash value (6-7%) , with this I'm thinking medyo safe na sa
inflation. Unless inflation goes higher than these rates + yung accumulated
dividends+bonus coverage of up to 40% of cash value or 300k maximum.
Yung sa medical naman po, I was thinking of Caritas Health Shield yung Gold plan nila.
They're offering 2 plans: expanded 6, which is payable for 5 years; and expanded 10,
which is payable for 10 years.
For example, for expanded 10 Gold with a 100k coverage:
=FOR THE FIRST 5 YRS=
- free 12 consultations annual (12x5), that's 60 consultations in 5 years
- free annual physical examination
- free dental consultation, yearly din po
- gives for example for 100k: 30k maximum PER ILLNESS with a 1000k/room rate for
Year 1, increasing yung maximum nito every year so on the 2nd year magiging 40k per
illness+1200/room rate onwards.
=ON THE 6th YEAR=
- the above mentioned on the first 5 yrs will be gone BUT your 100k will earn an 8% p.a
if untouched (if you're not having an illness more than their maximum limit per illness),
and 5% if the face amount was touched due to illness on the 1st 5 yrs.
=ON THE 7th YEAR=
- the coverage you will get is transferable to anyone in your family up the the 2nd degree.
So if there's someone in your family (God forbid) who gets sick and needs medical help.
You can make use of your plan to help him/her for medical treatments.
Kaya lang medyo expensive nga cya, and you're really forced to save cause its payable in
5 years nga po. Pero ok din naman, disciplined savings lang talaga kailangan.
If you want naman the 3 in 1 product. They have it din, I heard malakas din po to sa
Manila but not Cebu. Payable for 3 years, it's a life insurance+cash benefit (they will give
an an amount on depending on how much yung kinuha mo) like 20k on the 10th year for
10 YRS, and on the 20th YR gives you an amount equal to the face amount+cash value
and dividends. But for me lang po at may age, medyo expensive kac so I didn't get this
product. If you're interested, just pm me and I can refer you to my agent. He really
explains it well.
The two I mentioned is medyo expensive din po, but I'm still young and very able so I
have to grab these while I'm still able to work and save kasi nga wala pa akong family of
my own.
@juleslipic
Hi,
Yung medical reimbursement ba ay only for accidents? Or basta ma hospitalize ka lng,

may lumpsum ka na?
At yung Caritas health insurance, 5 years to pay yun right?

Insured for life ka na ba nun? Thanks

Post by: Ping on Oct 02, 2007, 05:35 PM
I have SunLife life insurance plan, BlueCross medical insurance, and Lifetime memorial
plan. Lately, I invested in the SunLife FlexiLink, and some UITFs.
Btw, I am selling Lifetime memorial plan ... :hello: Just in case may interesado kumuha,
just PM me ... fyi, some are buying memorial plans as investment too ...

Post by: nailbiter on Oct 02, 2007, 05:42 PM
Lifetime ba yung sa mga Yuchengco? Formerly Pacific?

^yes, madam!
Planning to get one?
Of course, PMT members get some discounts ... :cool2:

Post by: nailbiter on Oct 03, 2007, 11:47 AM
Naku, ahente din si ermat niyan. :D Pati isang auntie ko. Pero di pa ko kumukuha, hehe.

Post by: lailani on Oct 03, 2007, 12:05 PM
my sister is a philam life agent kaya meron din akong life insurance... i got 1 in 1999,
then another in 2000 and added 1 more in 2001... annual lahat yun payments. maliit lang
naman yun coverage pero ok na din kesa wala :hihi:
Post by: cjap10 on Oct 03, 2007, 01:11 PM
ako wala pa... plan ko rin kumuha nito pero di pa ngayon...

Post by: menggay117 on Oct 12, 2007, 02:04 PM
ok din ang life insce..esp.kung may wife, kids, or dependent parents at di gaanong well-
off sa family para in case na mawala ang head of the family, di sila maiiwang
nakatunganga, may starter fund ika nga..puedeng pang-business or whaterver na
pagkakaperahan..
but for me, mas necessity ang memorial plan, at health insurance kasi nakakataranta
maghanap ng panggastos once dumating ang situation na ganito...medyo may peace of
mind na di man ma-cover in full ang lahat ng expenses, at least mayroon na kaagad
siguradong maaasahan..i already have life,memorial, for me at health insce at educ.plan
for my kid..magaan sa loob esp na fully paid na..

Post by: cool_78 on Oct 14, 2007, 10:02 AM
I currently don't have life insurance and I don't think I will get one pero I am interested in
getting a pension fund that is offered din by insurance companies.

Post by: oishidu on Oct 14, 2007, 12:29 PM
me kumuha ba ng life insurance dito sa manulife? kamusta market outlook for manulife?
Thanks sa magbibigay ng information.

Post by: juleslipic on Oct 15, 2007, 09:29 PM
@mxherr - sorry ngayon lang ulit ako naka online , u have pm po

Post by: 2pac on Oct 29, 2007, 04:19 PM
Hi all,
Very interesting ah... actually I have plans to get an insurance/HMO/pension when I'm
like 30 or 35.... but as I read all the post eh parang I need to act now lolx... anywayz Do
you guys know kung ano yung website ng Caritas health shield? I tried to google it
walang lumalabas eh.
since pag kumuha ako ng life insurance sa sunlife eh after 10 years pag di pa ako na dedz
makukuha ko in lumpsum yung premium na binyad ko + dividend and interest? and after
that eh mag rerenew ako ng insurance policy since expired na yung current insurance ko?
kasi yung pinsan ko kumuha rin sa sunlife 10 years to pay di ko na natanung kung
lifetime and medyo magulo yung agent ko hehehe sobrang busy rin
OK my mom just turned 66 medyo mahirap ng kumuha ng life ins/HMO meron ba

kayong ma rerecommend? yare kasi pag nag kasakit eh... nag browse na ko sa blue cross
and mukhang mahal hehehe and also sa Panorama may insurance company na nag
advertise Paramount Life and general Insurance Corporation
Golden Life Advantage yung product ok ba to? wala na raw medical examination etc etc.
just pay the premium no question asked mukhang nag aalanagan ako dto eh pero ok yung
premium nila.....
Memorial plan question meron nito mom ko eh fully paid n ata di ko masyado na review
yung policy pacific plans so since 66 na sya kelangan bang mag renew nito or lifetime na
yung plan meaning covered na mom ko up to her living year sa earth...
another insurance Question since insured kami sa work (philam life ng 1M) eh pag
umalis ako sa work ko can i continue the policy or I have to talk to my HR regarding this
matter?
and is there a way na madetect/track kung anung type of insurance yung binabayaran ng
mom ko noon? di na sya nag bayad since like 5 years ago huminto na but ang alam ko is
philam life yun....monthly ata eh may nag cocollet ng cash samin.....
:D

Blue Cross, medyo mahal, pero doctor and hospital of your choice naman eh. Kaso, may
1 year contestability period, and be "careful" about the pre existing illness. Tsaka, medyo
mabilis naman ang processing ng reimbursement checks - mga 1 week lang.
Sa Pacific/Lifetime Memorial plans naman, no need to do anything re the plan of your

mom. Basta, ang importante lang, you know the policy number. Then, yung insurance
portion ng plan, wala ng silbi yun. Kasi over 65 na sya.
Post by: 2pac on Oct 30, 2007, 10:20 AM
Hi Ping,
What do you mean by 1 year contestability period? sa Maxicare kasi 5 years bago
maging 100% reimbursable yung parents ko but since over age na sya di na sya
applicable sa maxicare dependent program.
regarding Pacific plan... so parag memorial plan lang yung applicable dun since 66 na
mom ko? but nakita ko kasi is 7K lang ata yung plan eh but I'll try to review di kasi ako
nag bayad dun....
Thank you for the response :)

Post by: Ping on Oct 30, 2007, 11:52 AM
^ 1 year contestability period-
Kasi when you buy a memorial plan, wala na ring medical check up yun, pero if the plan
holder died within one year, return of premium lang mangyayari. EXCEPT if the plan
holder died in an accident - airplane crash, vehicular accident, etc.

Post by: 2pac on Nov 02, 2007, 11:13 PM
^
Thanks po sa info.. :D

Post by: Ping on Nov 03, 2007, 04:42 AM
:welcome: anytime po!

Post by: Alhana on Jan 05, 2008, 05:27 PM
Hi, nailbiter! Ako rin po interested in getting a life insurance, and I'm thinking of Sunlife
as one of my options. Pero I'd like to get your mom's contact nos. Ok lang ba? Thanks ha!
Post by: nailbiter on Jan 08, 2008, 11:37 AM
Yes, Alhana. Already sent you a PM.

Post by: chikat on Jan 25, 2008, 03:00 PM
Hello po! May nakita po kong ad sa PDI nung Wed re most recent
promo ng Insular Life: Money Back Reloaded. It says "it guarantees more than
double your money at the end of 20-year protection period. And to complete the
package, it also comes with life, accident and hospital care..."
Pero meron din nito, "you get more than double your money at the end of the 20-year
protection period. That's all the premiums you have paid plus interest or a total
of 255% (for annual mode of payment) of your investment...guaranteed! However, any
hospitalization claims made during the policy period will be deducted from your
guaranteed cash benefits".
Ask ko lang po what you think about this offer, since medyo ignoramus pa po ako sa
insurance. This sounds like a good offer but there might be a catch.
I'm only 23, btw.
Thanks for your thoughts in advance! :D

Post by: foolcha on Jan 25, 2008, 05:01 PM
Sino nag TERM Insurance or PURE insurance dito? meron ba? or sino may gusto?

Post by: m3ll019 on Jan 26, 2008, 06:39 AM
Hi everyone!
I just signed up here like 5 minutes ago. A couple of days back, I enrolled myself in
AXA's Honey insurance-slash-investment package. I was quite in a hurry to sign myself
up for that because I really just wanted to get myself some 'forced savings'. It was quite
careless of me because I did not ask too many questions or do my research before getting
that insurance, mainly because (1) I am too illiterate regarding such things that I do not
even know what to ask, and (2) again, I just wanted to place my money somewhere.
I understand that there is already an existing thread for AXA insurance here but everyone
there just spoke of terms that I could not fully understand. I would just like to get
feedback from anyone who is familiar with the specific insurance policy that I signed up
for. What should I worry about now that I did sign up? What else do I really need to find
out about my insurance? Any suggestions for me on what to do next? (***Please respond
in layman's terms. I would rate myself like zero in financial literacy. I just got interested
in getting an insurance when I realized that I am not getting any younger.)

Post by: rainmen on Jan 26, 2008, 09:08 AM
Quote from: chikat on Jan 25, 2008, 03:00 PM
Insular Life: Money Back Reloaded. It says "it guarantees more than
double your money at the end of 20-year protection period. And to complete the
package, it also comes with life, accident and hospital care..."
Pero meron din nito, "you get more than double your money at the end of the 20-year
protection period. That's all the premiums you have paid plus interest or a total
of 255% (for annual mode of payment) of your investment...guaranteed! However, any
hospitalization claims made during the policy period will be deducted from your
guaranteed cash benefits".
Ask ko lang po what you think about this offer, since medyo ignoramus pa po ako sa
insurance. This sounds like a good offer but there might be a catch.
I'm only 23, btw.
with Philam your investment is double on the 10th year. also with protection
the best program is to get term insurance and invest the difference.
@m3ll019
if you can show me the policy I can explain to you in details what kind of program you
enrolled in. my office is in Makati and I am from Marikina, if you live near in any of the
two places I can pay you a visit. (if you like?)

Post by: 2pac on Jan 29, 2008, 01:34 PM
Still don't have insurance but planning to apply but not for me but for my parent
instead....(actually my corporate insurance ako) I saw paramount insurance usually they
have advertisment in manila bulletin and up to 80 yrs (65 na mom ko) pede mag apply
any insights? di kasi kilala yung company...
Post by: rainmen on Jan 29, 2008, 02:24 PM
Philam covers up to age 79

Post by: ella on Jan 29, 2008, 05:53 PM
Hi 2pac,
I haven't heard about paramount, maybe you can check it with Insurance Commission
(governing body for insurance companies). It's actually expensive if you will get your
mom an insurance right now bec. of her age but its possible. I checked with Sunlife
proposal, the cheapest annual premium for her is P28855 with 500k coverage, this is a
traditional product called Sun Smartstarter, she will be insured until age 100. She will
also need to undergo medical exam. Regarding your corporate insurance, what is the
amount of your coverage?

Post by: Spykejet on Jan 29, 2008, 06:18 PM
as per topic:
Yes, I do have insurance + critical illness coverage from Manulife. got it 4 years ago.
Servicing is a-ok naman, then i decided to join the team last 2006.

Post by: rainmen on Jan 29, 2008, 07:31 PM
Quote from: 2pac on Jan 29, 2008, 01:34 PM
Still don't have insurance but planning to apply but not for me but for my parent
instead....(actually my corporate insurance ako) I saw paramount insurance usually they
have advertisment in manila bulletin and up to 80 yrs (65 na mom ko)
for a 65 year old with 1,000,000 Php. coverage

premium is 25,280 Php.
under PhilamLife

Post by: m3ll019 on Jan 29, 2008, 10:54 PM
Quote from: rainmen on Jan 26, 2008, 09:08 AM
@m3ll019
if you can show me the policy I can explain to you in details what kind of program you
enrolled in. my office is in Makati and I am from Marikina, if you live near in any of the
two places I can pay you a visit. (if you like?)
Hi Rainmen,
I got to talk to the agent again so i am fine now, i guess... :D But if you still want to
discuss and i am sure i would get even more inputs from you, i would really appreciate
that. i work in the makati area as well.let's PM instead so that i can send you other details.
Thanks!

Post by: foolcha on Jan 30, 2008, 10:50 AM
Does anyone knows of a life insurance for more than 80+ y/o? Is there an insurance
company that will insure the life of an 80+ y/o?
Thanks.

Post by: ahock on Jan 30, 2008, 09:38 PM
Manulife Fast Trac check mo.... I can give you my agents number if you want just PM
me

Post by: aries2008 on Feb 03, 2008, 04:22 PM
..ano po maganda na health insurance at the same time may ride on na parang life
insurance,(yong mura po)...?thanks in advance
Title: The spare tire in your car's trunk

Post by: czekloy on Mar 20, 2008, 01:51 AM
THE SPARE TIRE IN YOUR CAR'S TRUNK

By: Dave Aguila, taken at www.daveaguila.com (http://daveaguila.com/)
Have you checked out your car if it has a spare tire inside your trunk? Normally you have
a spare tire inside your trunk. And I don’t want to make you guys look dumb by asking if
you know the purpose of that spare tire. As I know you guys know its purpose. You know
it right? :D
But just to be safe I’ll share its purpose na din. The spare tire’s purpose is a
“replacement” at the event na isa sa apat mong gulong ay mabutas o sumabog. This way,
you’re assured that mangyari man yun, your car will still be able to run to the nearest
gasoline station or vulcanizing station or wherever you’re headed then ipaayos ang
gulong na nabutas.
With that in mind, do you agree about the importance of your spare tire to your car? I
certainly hope so. If hindi ka agree, akin na lang ang spare tire mo at ng maging 2 ang
spare tire ko… :P
If you agree about its importance, then it’s safe and logical to say that you must also
agree about the importance of a life insurance product.
The purpose of a life insurance product is much like the purpose of your spare tire. It’s
used as a replacement. It’s a replacement of income should you, the provider of needs for
your family, is no longer able to earn money because of death or total disability. Just like
a spare tire, a life insurance assures you that whatever happen to you, your family will
still be able to continue living life comfortably.
The only difference between a spare tire and life insurance is that, a spare tire is
mandated by law or by the manufacturing companies as an “essential” part of your car.
Where a life insurance product is surprisingly not mandated by law. Hmmm… Makes me
wonder, is your car more important than the survival and comfort of your family? :)
Always check your spare tire. And always check on your life insurance as well. Happy
living!

Post by: leela on Mar 21, 2008, 04:54 PM
does anybody have a sunlife insurance here?
i started paying for my sunlife insurance 7 or 8 years ago. i don't remember anymore if 10
years lang ako magbabayad.

Post by: GoodSteward on Mar 21, 2008, 08:25 PM
czekloy, i like your analogy of spare tire and insurance. Something Ive got to add with
this analogy.
A spare tire is useless kung walang hangin. An insurance is useless if the insurer doesnt
know whats being covered, or the insurance company is not true to their words... delaying
etc..
So guys, check out your spare tire kung may hangin. Make sure you know the details of
your insurance coverage and the reliability of the insurance company.
Posted on: Mar 21, 2008, 08:21 PM
i like the article with the analogy i mean :D

Post by: rainmen on Mar 21, 2008, 10:52 PM
here is my own analogy

insurance is like a parachute...
when you need it and you don't have it,
you will never need it again.

Post by: bluegenes on Mar 23, 2008, 10:37 PM
Quote from: millette05 on Aug 08, 2007, 11:29 AM
There are different kinds of Life Insurances. I'll list some.
Accident Insurance/Term Insurance (cheapest since you pay on a yearly basis; coverage
ends after the contractual year)
DIVIDEND Earning life plans:

Life Insurance (payment maybe in 7, 10, 15 or 20 years; you're covered for life) - your
beneficiary get the benefits/insurance proceeds plus interests/dividends when you die
Endowment (payment is usually 20 years; the policyholder's coverage ends when he gets
the full face amount at the end of 20years)
Pension (available at 5, 10, 15 and 20 years; the policyholder's coverage ends when he
gets the full face amount at the policy's maturity)
Say, pardon my ignorance, but Pension and Endowment seems like the same thing except
for the payment terms. Any other difference between the two? I think I want to get one
(whichever's better) but will this work like insurance, like say, if I get Pension or
Endowment, and if (God forbid) I get into an accident or get sick will I be protected?
:help:
I've been reading so much and I'm afraid some concepts have somehow mushed together
in my brain. :hihi:
I have no insurance by the way, but I have invested recently in Philam MFs and VUL. I'd
like to try Sunlife though, any suggestions? I'm also open to Philam of course. :D
My objective is simple and pretty common to all: I just want to be both financially
protected and prepared for the future. And I wanna do it while I still have the funds
:cool2:
Title: Make sure to insure your income for the sake of your family
Post by: czekloy on Mar 26, 2008, 01:19 PM
LIFE INSURANCE 101

By: Dave Aguila - taken at www.daveaguila.com (http://daveaguila.com/)
Ignore this article and it’s like you ignored the security of your family. Why are people so
afraid to talk about life insurance? Is it because it talks about death (later on you’ll find
out that it’s actually the opposite as it talks about life). Para bang diring-diri ang mga tao
sa mga insurance agents. Do you guys realize how important a life insurance product to
the security of your spouse and kids? I guess not kasi if you know how important life
insurance is, then meron ka ng enough life insurance for your family. It’s a very basic
subject that only needs your time para maintindihan ang importansya nito. I’ve composed
this article in such a way na kahit bata maiintindihan kung gaano kahalaga ang life
insurance. So read on…
A life insurance is basically a financial product used to replace the income being
provided by the breadwinner to his/her dependents at the event of his/her total disability
or death. Period. Para siyang spare tire na pampalit sa biglang pagkabutas o pagkaflat ng
isa sa apat na gulong. That’s how a life insurance product works - pamalit siya sa income
na mawawala sa breadwinner if ever ma-total disability or mamatay siya. Sorry for being
blunt as that’s the easiest way for you to understand my point.
When a breadwinner dies, dalawang bagay ang nawawala sa mga naiwan na loved ones -
personal and financial aspect. There’s nothing anyone can do about the personal aspect as
everyone eventually dies (you, me, everybody). It’s just a question of when. The most we
could do on this particular aspect is to cherish every moment we have with our loved
ones.
But unlike the personal aspect being lost at the event of the breadwinner’s death, we can
certainly do something about the financial aspect. Often times the family of the person
who died are left without a single cent to continue living life. Imagine if that happens to
your family, what will they do now? All of sudden work hard for money or worse beg for
money? But that can simply be solved via a life insurance. Kumbaga parang andyan ka pa
din na nagpo-provide ng income for their needs because of the proceeds that the family
will get from the life insurance na binili ng breadwinner nung buhay pa siya. Thus, hindi
sila mahihirapan ipagpatuloy ang buhay. This is what I meant that life insurance is not
about death but instead life as because of this product you can continuously provide
money to your family even if you’re already dead so that they can continue on living life
comfortably.
Kadalasan takot ang mga tao na magtanong about life insurance kasi iniisip agad nila na
mahal to. Don’t let that be the case. The price of a life insurance is on a case-to-case basis
as it will depend on a number of factors such as your age, your gender, your occupation,
your health, your income/expenses, etc. The younger you are, the more affordable. The
healthier you are, the more affordable. Bottomline, the lower the risk, the less expensive
your life insurance.
Price should never hinder anyone in at least knowing more about life insurance. It should
be the last factor to consider. The first factor would be to find out its importance (which
is basically what this article is doing right now) then talk to an honest and competitive
insurance agent for the nitty-gritty of the life insurance product (e.i. how much you life
insurance coverage is enough for your family). Just talk and ask more about the product.
You don’t have to buy agad. Just at least learn more about it. Then as soon as you’ve
understood its importance, then that’s the time to buy or at least plan your finances.
ALL breadwinners need to purchase a life insurance as we never know if we’ll become
totally disable or die young. No questions ask! It’s not because I want to earn
commissions because whether you like it or not, if you buy a life insurance from me, I’ll
definitely be compensated by AXA via a commission for the work I did. But because the
security of your spouse and kids should be your top most priority as it should be. And
having a good high paying job and a life insurance product are ways to secure them.
If you already have a life insurance and you believe that your life insurance coverage is
enough to cover for all the needs of your family, then I give you two-thumbs up for being
very responsible. Please feel free to send the link of this article to your friends who still
don’t have a life insurance so that they’ll be able to learn more about this very important
product.
If you still don’t have a life insurance and after reading this you still don’t buy or at least
shop around for a life insurance, then I sincerely hope and pray that you continuously be
healthy and alive until you realize about its importance for your spouse and kids’ sake.
Title: How life insurance will destroy your dependent's life

Post by: czekloy on Apr 02, 2008, 11:41 AM
HOW LIFE INSURANCE WILL DESTROY YOUR DEPENDENT'S LIFE
By: Dave Aguila - taken at www.daveaguila.com (http://daveaguila.com)
Attention! Beware of this financial product! I bet you’ve heard from other sources a thing
or two about life insurance. But with this article, I’m giving it to you straight and how life
insurance will destroy your dependent’s life!!!
Make sure to read this article by heart because it might be experienced by your
dependent’s as well if you’re not careful…
Over the years, more than 90% of the families not just in the Philippines suffered
financially (aside from the emotional suffering) when their breadwinners died at a very
young age or become totally disabled at a young age. The dependents suffer massive
financial problems due to the unexpected early death of their breadwinner and was forced
to work for money like they’ve never worked before just to make ends meet and some
even beg for money to their other relatives or worse strangers!
After years of becoming financially exposed at an early age, I’ve learned that a life
insurance product can definitely destroy your dependent’s lives. It can definitely
destroy the hardship that your dependent’s will inevitably experience should you die
prematurely without preparing for their financial well-being. It can definitely destroy the
misery of being unprepared financially by becoming your clone in terms of providing
money for your dependent’s needs and wants.
A life insurance product is a very simple, very important, yet widely ignored financial
product all over the world especially in the Philippines because people don’t see the need
and importance of the product because people choose to ignore it and not give a sh*t. To
those people who continuously ignore the calling for purchasing a life insurance for their
dependents should really be bothered by the thought of the things that may happen to
their family should he/she die prematurely. Not everyone can purchase a life insurance.
Even if you have all the money in the world, you can hardly or never get a life insurance,
if you already have a sickness or diagnosed with a sickness.
So again, I warn you, if you don’t want to destroy the things I’ve said above that
concerns your family, please I heavily suggest that you ignore this article.
P.S.
I’d like to give credit to one of Adam Khoo’s (http://www.adam-khoo.com/140/how-
adam-khoo-destroyed-my-life/) students whom he inspired to become financially
successful for the format of this article.
Title: Re: How life insurance will destroy your dependent's life
Post by: GoodSteward on Apr 02, 2008, 11:51 AM
Sorry, but i think the title of the article just sounds so wrong.... It doesnt match whats in
it.
destroys dependent's life... yun pala destroys the misery....
Post by: czekloy on Apr 02, 2008, 11:54 AM
Hi there... Good day!
I know that the title sounds wrong. That's the whole point of the title. It makes it sound
wrong so that people will click it and read it and after reading the "entire" article, people
should realize that it doesn't destroy the lives of the dependents per se but rather destroys
the life of misery should the breadwinner is ill-prepared. If you get enough life insurance,
then the life insurance definitely destroys the life of misery that dependents should have
lived if the breadwinner is not prepared. If breadwinners die, it's either the dependents
live life comfortably or miserably. And a life insurance product definitely destroys a life
of misery as it can certainly provide a life of comfortability.
For me, if read very carefully, it is a very powerful title and article. Thanks for your
opinion. More power!
Post by: vbignacio on Apr 02, 2008, 12:00 PM
i think it's some kind of a trick to get others to read the article...
Post by: GoodSteward on Apr 02, 2008, 12:15 PM
vbignacio, i totally agree..... its like some you tube video titles thats so much different
with its contents
Post by: len on Apr 02, 2008, 12:16 PM
akala ko nga kakaiba... sabi first time kong makakaencounter ng someone who thinks that
life insurance could destroy someone's life....
misleading yung title ng thread.. :D :D
Post by: czekloy on Apr 02, 2008, 12:30 PM
:) As I've said, the word destroy kasi is a negative term to many. Pero it could be used for
both positive or negative din kasi when you strategically compose your article. A positive
example of the word destroy being used positively is "Destroy the drug pushers". In my
article's case, it's destroy the life of misery.
Yes, it's a trick title but definitely not misleading as I didn't say that life insurance will
destroy breadwinner's dependents life per se but the life of misery that they could have
had experienced if the breadwinner didn't prepare. :)
If you write articles, you would want to create the most catchy title or headline you can
think of without being opposite with the content. Try reading it and understand it and
you'll see that it is really meant to destroy a dependent's life - a life of financial misery
that is. More power!
Post by: vbignacio on Apr 02, 2008, 12:34 PM
yeah. its a form of link bait to increase click throughs. black hats use it all the time... but
im not saying you are one, just to be clear.
It's okay... Actually I'm not that techie so I really don't know what black hats are.
Although, I have a basic knowledge of a link bait via it's keyword "bait" or paen in
tagalog. :) And yes, I agree 100% that it is really a trick title to get people's attention
although, I also do not agree 100% that it's misleading.
Anyway, thanks for reading the article. :hello:

Posted on: Apr 02, 2008, 12:37 PM
Just to add up... Mas sanay ang Pinoy magbasa ng negative news or articles or stuffs kesa
positive. You can see it very clearly sa mga newspapers na puro negative ang headline at
negative din ang contents.
I figured para makuha ko ang attention ng tao to read a very important article is to use a
"negative conotation" title without compromising its content. :) I'm not a professional
writer but I believe that good articles are ignored without a catchy title/headline. So, para
di masayang ang napaka-importante na article, I made a headline na negative ang
conotation as I believe that it's the most interesting and intriguing for Pinoys as evident
by newspapers, TV, etc.
More power everyone!
Post by: GoodSteward on Apr 02, 2008, 01:08 PM
Its like having a headline " Proper intake of fever medicine can kill a person!"
Tapos inside it yun pala Proper intake of fever medicine can kill the fever of the person.
Peace :D
Post by: leela on Apr 02, 2008, 01:43 PM
ano po ba yung point nung article? :help:
To GoodSteward: It's somehow like that. Although, kill is a very negative word. :hihi:
But yeah, it's like that.
To Leela: The point of the article is very simple although I have to be very creative in
writing it as the subject is often times ignored by a lot of Pinoys as evident by the very
low number of owners of life insurance policies. The point is that a life insurance product
is a very important financial product that is needed by everyone na meron dependents
(spouse/kids) kasi it will replace the breadwinner in providing money for them in the
event of untimely death or total disability.
Post by: sardonyx on Apr 02, 2008, 01:56 PM
to the threadstarter, please don't mislead us here. sana may forum rule about misleading
threat titles.
You know what, I've already replied a while ago that this is not misleading as that is a
strategy for people to read articles. Have you read the entire article? Have you written an
article? If you do, then you should know that headlines or titles are often times contructed
in a tricky way for people to at least give a minute of his time to give a chance to read the
article. Newspapers do this, a lot of reading materials do this.
Anyway, this is not even the topic of the thread. This is an off-topic.
There is a feature in this forum where you can report me to the owner if you feel there is
something to report on. If you feel that I'm misleading you, then by all means report me.
Okay? Give others a chance to read the ENTIRE article. They may be able to understand
the point of the article and not focus on your position of me misleading people.
More power!
Post by: castle on Apr 02, 2008, 04:30 PM
czekloy you are forgiven na, pero next time naman wag ganyan, yeah style mo yun eh.
Pero sympre nakakabadtrip lalo na lahat naman halos alam na yata ang tungkol sa life
insurance.
Post by: cjap10 on Apr 02, 2008, 05:07 PM
very tricky title indeed. Tricky titles are ok pero sobra na ata to. Anyway, you've got what
you want, I've read the article already.
Nice to know you've read the article. Everyone is entitled to their own opinion. Even
Kiyosaki, Buffet, Pope Benedict, Bush, etc. have people who agree and disagree with
them. As I always say, no one man can convince everyone - not me, not you, no one. It's
just a matter of sharing what you want to share and hoping that people will get the point.
More power! :hello:
Post by: xtrarich_catsup on Apr 02, 2008, 08:03 PM
czekloy,
Life insurance? :huh:
please convince me nga to get one.
no one had succeeded in convincing me to buy one -so far.
nagbebenta ka ba?
baka sakaling ma-mislead mo ako! :hihi: peace!
Quote from: castle on Apr 02, 2008, 04:30 PM
czekloy you are forgiven na, pero next time naman wag ganyan, yeah style mo yun eh.
Pero sympre nakakabadtrip lalo na lahat naman halos alam na yata ang tungkol sa life
insurance.
Hi Castle. Good day!
Forgiven? I'm not asking for forgiveness as I'm just clarifying the confusion. I haven't
done anything wrong to anyone. It's my way of delivering my point. It's my prerogative
as the writer of the article. Ayoko na sana pumatol sa mga off-topic comments pero I
don't also want people thinking na mali ako at malambot ako sa position ko because I'm
not.
And I beg to disagree na lahat na halos ng tao alam ang life insurance because if that is
true then statistics will show that majority of breadwinners do have enough life insurance
for their dependents. This is mainly the reason why my topic was super constructed in a
way people will click it kasi often times people ignore the topic because they "think" they
know it or worse they know it but doesn't give a damn.
Anyway, thanks for your opinion. More power!

Posted on: Apr 02, 2008, 11:07 PM
Quote from: xtrarich_catsup on Apr 02, 2008, 08:03 PM
czekloy,
Life insurance? :huh:
please convince me nga to get one.
no one had succeeded in convincing me to buy one -so far.
nagbebenta ka ba?
baka sakaling ma-mislead mo ako! :hihi: peace!

Posted on: Apr 02, 2008, 11:04 PM
Good day! Yes, I'm selling life insurance. Nobody has convinced you to buy one yet?
Hmmm... Well, I don't know your status (age, occupation, number of dependents, etc.) so
I won't be able to assess you in full detail.
But anyhow, the purpose of a life insurance is simple really and let me give you a straight
and no B.S. explanation. Simply put, it replaces you as the breadwinner of your
dependents should you die or become totally disable at a young age. Gets? :) That's as
straight as I can give it.
Convince you? I don't need to convince you as you should be able to convince yourself
about the fact that your dependents (spouse/kids) will be in a financial mess if you die or
become totally disable at a young age. A life insurance is not intended for you but for
your dependents. It's a product that will ensure the continuous survival of your
dependents if you've purchased "enough" life insurance coverage.
More power!

Post by: foolcha on Apr 03, 2008, 02:05 PM
To add to what czekloy just said, Life Insurance is also use to settle for the "estate tax"
that is needed to be paid once the breadwinner dies.

Post by: xtrarich_catsup on Apr 05, 2008, 09:22 AM
@czekloy & foolcha

Your ideas are correct and valid.
And they really have merit.
But I heard them many times before.
I tend to think in an extraordinary way...

My idea of security for my family is different.
My guiding principle is different.
"Don't give them fish, Teach them how to fish"
Kailangan ko bang i-expound pa?
self explanatory naman di ba?
Anyway, I'm open to new ideas... I might change my mind.

So far... hindi pa nagbabago isip ko.
Post by: foolcha on Apr 06, 2008, 12:32 AM
I don't have any idea regarding your "extraordinary way"... and I'm not here to convince
you to get an insurance. I don't need to convince you, its up to you.

Post by: xtrarich_catsup on Apr 06, 2008, 12:40 AM
^ ok. cool lang. you don't have to convince anyone. let's just share views. :rakenrol:

Post by: nailbiter on Apr 06, 2008, 09:57 AM
czekloy, your resource box has been removed from your posts as this is considered
advertising. If you wish to repost articles from your blog, it is enough that you cite the
source. Also, as per our forum guidelines, when responding to the most recent post,
please do not quote it in its entirety. The threads you've started on life insurance have
been merged with this topic as it essentially covers your concerns. Please do not post
redundant threads in the forum.
xtrarich_catsup, I don't know if it will help you but if you haven't already done so, try
reading the entire thread. I started this when I was still a newbie on PMT. There was no
thread on life insurance here and I've been a regular of PinoyExchange and GirlTalk
before coming here so I quoted excerpts from the PEx and GT threads discussing the pros
and cons of life insurance to help foster initial discussion.
Quote from: leela on Mar 21, 2008, 04:54 PM
does anybody have a sunlife insurance here?
i started paying for my sunlife insurance 7 or 8 years ago. i don't remember anymore if 10
years lang ako magbabayad.
leela, I'm not sure if you're asking a question. What does it say on your policy? Hindi kasi
pare-pareho ang plans so it's hard to figure this out just based on the above information.
Quote from: bluegenes on Mar 23, 2008, 10:37 PM
I have no insurance by the way, but I have invested recently in Philam MFs and VUL. I'd
like to try Sunlife though, any suggestions? I'm also open to Philam of course. :D
My objective is simple and pretty common to all: I just want to be both financially
protected and prepared for the future. And I wanna do it while I still have the funds
:cool2:
bluegenes, you still have my mom's e-mail address? You can ask her about Sun Life's
insurance plans as well.

Post by: jhay18 on Apr 06, 2008, 10:24 AM
meron ako pero yung free insurance lang from BPI account. bundle with get started
savings account. free naman so okay lang. im planning to get the cc for bpi classic meron
ding bundle d na free insurance yun.

Post by: angellove on Jun 20, 2008, 01:25 PM
yung kinuha ko sa sunlife, endowment policy yun na life insurance na din. my total
premium payments is good for 13 years. after a few more years, i'll receive a lump sum
payment equivalent to the face amount of the policy and still be covered for life.
ano po'ng plan yung kinuha nyo sa sunlife? im interested. :D

Post by: cil on Jun 20, 2008, 11:07 PM
kindly elaborate
Quote from: foolcha on Apr 03, 2008, 02:05 PM
To add to what czekloy just said, Life Insurance is also use to settle for the "estate tax"
that is needed to be paid once the breadwinner dies.
kindly elaborate nga po pala kung ano ibig sabihin nito, hindi ko po masyado
maintindihan pasensya na po, salamat......

Post by: rainmen on Jun 21, 2008, 08:09 AM
meron po tayo property worth 20 M

pag namatay ang may-ari subject po ang asset na ito sa estate tax normally po ang value
is 30% ng amount ng property so mga 6,000,000 ang tax, eh kung wala pong pera ang
mga pag iiwanan ng property sayang naman po.
kaya po ginagamit ang insurance para mabayaran ang estate tax kung sakaling mamatay
ang may-ari na kinuhanan natin ng insurance worth 6M, ito po yung gagamitin nung
beneficiary na pambayad sa estate tax.

Post by: rangel on Jun 21, 2008, 08:15 AM
Estate planning is a serious thing also to consider...This is to help your maiiwan na nd

magkagulo or magaway-away sa kayamanan mong maiiwan and as well to minimize the
taxes burden.

Post by: juleslipic on Jun 21, 2008, 02:56 PM
Quote from: rainmen on Jun 21, 2008, 08:09 AM

Totoo yan, ito yung problema ko with my parents estate kasi negative kasi ang isip ng
papa ko nuon with life insurance. Buti nalang ok na ngayon, medyo late na nga lang kami
nakakuha and medyo malaki tlaga ang binabayaran na premiums namin every year and di
narin cya pwede kung malaki tlaga na face amount kasi dahil narin sa age nya. Pero buti
na ng meron cya ngayon kaysa wala kundi ako talaga ang mapo-problema sa tax na yan.
Worst,baka i'll end up selling their properties. Sayang din naman , pinagpaguran din nila
yun...

Post by: Dutch_Boy on Jun 21, 2008, 04:55 PM
Quote from: rainmen on Jun 21, 2008, 08:09 AM

:D sir rainmen, baka matakot at mabigla ang mga friends natin dito sa PMT, lahat mag-
panic at kumuha nang sobra-sobrang life insurance pag nakita nila ang 30% estate tax na
nabanggit mo...
actually po sir, according to the Tax Reform Act of 1997 (Republic Act No. 8424), the
current law which governs estates and inheritances, the maximum bracket of Net Estate
(less conjugal deductions and other allowed expenses, etc.) is Php 10,000,000.xx --- (Sec.
84)
at this maximum bracket, tax payable is Php 1,215,000.xx plus 20% of the EXCESS
over the Php 10 M. so in the given example, if the Net Estate is at Php 20 M, the tax
payable will amount to Php 3,215,000 or 16.075% of the Net Estate.
for your information lang po, so that you could better advise your clients.
p.s. talaga ngang kelangan natin nang life insurance (for most of us, not all, because it
really would depend on the specific circumstances of the person)

Post by: rainmen on Jun 23, 2008, 11:01 PM
thanks for the info Dutch_Boy
yung estimate ko kasi kasama na yung under the table, alam mo naman na we will be
dealing with RD, BIR, and other Municipal offices. :watchuthink:

Post by: investor_dude on Jul 16, 2008, 11:21 AM
I went to Chinabank this morning and while waiting for my turn, someone from the bank
introduced Manulife to me. I told her to just call me up and set an appointment since im
in a hurry this morning and have no time to discuss it. Since im really looking for a
pension/ insurance that would suit me, im considering manulife too and other insurance
companies. Can somebody give some feedback on Manulife? What are their products?
How stable is the company? I checked the Chinabank website but it is not mentioned in
the site. What are the risks? If its not a good company, what company is best to have
insurance? Thanks and good day guys!
Post by: neri_9705 on Jul 16, 2008, 12:12 PM
i got manulife this may 08 lang. isang affluence fund (you'll choose where you want them
to invest your money. i chose peso stable fund) and isang health/life insurance (eve plan).
minimal lang premiums ko sa mga to. since im still single and 'young'. sabi ko sa sarili
ko, hindi ko naman intensyong payamanin ang mga kapatid ko. enough lang na may
pampalibing sila sa kin *knock on wood*. :D
oks naman ang service nila (so far). ung agent ko mismo ang pumupunta dito or kung
nasaan man ako (seminar or wherever). their doctor went to my office rin for my routine
checkup, and the documents needed were picked up by their messengers. convenient
naman. reimbursed din ako for the medical exam from independent hospital.

Post by: rainmen on Jul 16, 2008, 12:57 PM
Quote from: investor_dude on Jul 16, 2008, 11:21 AM
I went to Chinabank this morning and while waiting for my turn, someone from the bank
introduced Manulife to me. I told her to just call me up and set an appointment since im
in a hurry this morning and have no time to discuss it. Since im really looking for a
pension/ insurance that would suit me, im considering manulife too and other insurance
companies. Can somebody give some feedback on Manulife? What are their products?
How stable is the company? I checked the Chinabank website but it is not mentioned in
the site. What are the risks? If its not a good company, what company is best to have
insurance? Thanks and good day guys!
i can tailor fit your protection based from your need if you want? i am from PhilamLife.

Post by: freedomfighter on Jul 17, 2008, 01:08 AM
@investor_dude if you happen to be in Naga City one of these days I can meet you also
to introduce to you my company, Sun Life of Canada, or if you are in Manila, we could
probably meet in Makati area.
I'm in Manila right now until tomorrow but I often travel back & forth from Naga to
Makati every now and then.
Sun Life of Canada is the First & the Oldest Life Insurance company in the Philippines
established in the year 1895 in Manila. It is responsible for introducing life insurance to
the Filipino people way back even before the Philippine Revolution erupted. We're
actually celebrating this year our 113th years in the Philippines.
We have a branch in Naga City at Caceres St. beside Robinson's Bank. If you're
interested we could meet at my office there or at our Makati office. Just pm or email me.
Best regards,
freedomfighter
Sun Life Career Agent
thonycoors7@yahoo.com
0917-5803858

Post by: Ping on Aug 02, 2008, 07:28 AM
AXA Honey Peso, ManuLife, or SunLife ang the best?
How do you compare the packages ba? I wanted a fixed term of payment (yung dati
kong SunLife kasi, sabi ng agent "pwedeng" 7 years lang, inabot ako ng 12 years).
Any suggestions?
:hello:

Post by: honey2723 on Aug 02, 2008, 10:53 AM
Have you heard of Insular Life's I-Assure Max. It's a wonderful plan coz
GUARANTEED ang ibang features. Like paying years, you either choose the 5 year
program or 10 year program. And at the end of the 4th year and every 2 years thereafter,
GUARANTEED na may matatanggap ka FOR LIFE for both programs. :) Para cyang
pension ika-nga... :)
One of our management shared to us recently during one of our trainings, that his friend
from another insurance company (di lang natin sabihin ang name ng company, but I
assure you, it's in one of the top spots also) that when his friend (na nasa higher
management din) heard about I-Assure Max, he had a headache thinking about the
features... :watchuthink:
Post by: leela on Aug 02, 2008, 11:08 AM
i'm interested with a medical insurance. although i am covered by my company, i still

want to have my own just in case i decide to work at home na lang. any advise?

Post by: Ping on Aug 02, 2008, 11:12 AM
Yeah, mga rider na lang ata ang tawag dyan? On top of your plans, you can get some
services like, hospitalization benefits, temporary suspension of premium payments, etc?
Tama ba?
:help:

Post by: leela on Aug 02, 2008, 04:44 PM
î have a hospitalization rider with my sunlife. P600/day for confinement. but is there an
insurance here that covers purely medical only?

Post by: Ping on Aug 02, 2008, 05:09 PM
Yes, there is leela, try BlueCross Health Care po
:hello:

Post by: micro27 on Aug 02, 2008, 08:04 PM
My brother just got my policy in Sunlife last month, because I am now here in abroad.
any feedback po sa mga sunlife insurance holder po. Anu po ba ang advantage and dis-
advantage ng sunlife sa iba?
@freedomfighter - sir, since you are an agent of sunlife of canada, pwd po ba

magtanung? Honestly speaking, ang nagustuhan ko sa Sunlife flexi link is hindi lang sya
insurance kundi may investment din sya. Ako ang nagdecide ng fund allocation. Ang
tanung ko po, lets say for example, I allocated the 25% of the fund in balanced fund and
then the remaining 75% is in equity fund, does it mean ba, yung annual fund na binibigay
ko dun lahat mapupunta sa mga investment? At kung hindi, panu po kumikita yung
annual contribution ng insurance holder sa investment na kasama ng insurance?
:thankyou:

Post by: freedomfighter on Aug 02, 2008, 11:25 PM
Congratulations Micro27 for having a Sun Life Flexilink insurance. :cool2:
Actually everytime you pay your regular premium payment, a portion goes to pay
charges and the rest of your premiums are used to buy and allocate shares or units in the
funds that you selected.
Take note, iba yung annual regular premium and yung excess premium or top-up. Before
kasi itreat succeeding deposits mo as being top-ups or excess premiums dapat masatisfy
muna yung basic regular annual premium mo.
On your 1st year regular premium, 85% goes to pay the premium charge. the 15% goes
to buy units as per your allocated funds.
On your second to tenth policy year, your premium charge shall be 5%. After the 10th
year wala na premium charge sa regular premiums mo. However, every excess
premiums or top-up made is imposed a premium charge equivalent to 5%.
Also, aside from the premium charge there is the Monthly charge which is composed of
the monthly periodic charge and the insurance charge and which are deducted monthly
from the fund. The Monthly periodic charge is 50% of the Basic regular premium on the
2nd year, 25% on the 3rd policy year, and 5% on the 4th & 5th policy year.
Walang monthly periodic charge yung excess premiums or top-ups unlike regular
premiums.
However, after the 5th year wala na rin Monthly periodic charge. So 6 years to 10 year
95% of your regular premiums goes to your investment since there is still the 5%
premium charge that is deducted. So after the 10th year, as stated above, 100% na of
your regular premium goes to buy units or shares to your respective allocated funds since
wala na premium charge.
Of course if you make any top-up or excess premiums, this will still be subject to the 5%
premium charge.
Hope this helps. Don't hesitate to ask for clarifications if you feel the need to do it.
Cheers,
freedomfighter

Post by: micro27 on Aug 02, 2008, 11:59 PM
:thankyou: freedomfighter... :applause:
Pasensya na, lubus lubusin ko na, para tuloy ikaw yung agent ko... :hihi:
The regular premium must be paid fully per year or can be divide the payment into
quarters? If I made top-ups, how can I monitor my investment specially for OFW's like
me? Did Sunlife have online monitoring for each insrance holder to monitor our
investment? If have, how can I register? :help:
Again thankyou...

Post by: freedomfighter on Aug 03, 2008, 01:10 AM
No problem micro27…yes your annual premium may be paid into quarterly premiums.
Just divide it your annual premium into 4 quarters since wala namang interest or modal
factor unlike sa traditional. Yun nga lang before your succeeding top-ups will be
considered as excess premiums, they will first be applied to satisfy your basic annual
regular premium.
Pag nasatisfy na your Annual regular premium, then any succeeding top-ups within the
year will be considered as additional investments. 95% of it will go to buy you units or
shares.
Yes, I suggest you enroll your policy with Sun Life’s Sun Link Online so that you can
monitor your funds transactions & performance online. Just visit our website and click
Sun Link online and register your policy number. You will be provided a password
which will be mailed to you.
Just an advise, it will be to your advantage if you will practice "Peso Cost averaging" by
making regular contribution into your funds, regardless whether the NAVPS is high or
low.
You buy more shares when the price is low and fewer shares when the price is high. That
way you get to slowly build up your shares in your porfolio.
Good luck,
freedomfighter
btw, here's the link to Sun Link Online: http://www.sunlife.com.ph/services/default.asp

Post by: micro27 on Aug 03, 2008, 11:49 AM
:applause: wow...maraming maraming salamat po uli!!! :thankyou: freedomfighter...

Post by: freedomfighter on Aug 03, 2008, 06:18 PM
Walang anoman po... :hello: You're most welcome!

Post by: leela on Aug 23, 2008, 09:20 AM
i don't know if this is the right thread...
if and when i finally take out my pension plan, may tax ba ako na dapat bayaran?

Post by: lieannb on Aug 24, 2008, 09:39 PM
Quote from: leela on Aug 23, 2008, 09:20 AM
i don't know if this is the right thread...
if and when i finally take out my pension plan, may tax ba ako na dapat bayaran?
hi leela,
i dont think you still have to pay taxes pag nakuha mo na yung investment mo thru your
pension, its like a savings where gains from the investment was net of tax already...
hope this help... :hello:

Post by: anneMP on Aug 24, 2008, 10:01 PM
I'm not enrolled in any kind of insurance... but here's what the rest of my family are
enrolled in:
health insurance
car insurance
Our home is insured
I think our business is also insured
yikes! daming binabayaran

Post by: neri_9705 on Aug 25, 2008, 12:24 PM
to rainmen:
i already have a life/health insurance c/o manulife but i'm thinking of cancelling it and
going for a term life insurance and use the difference (premium payments) to fund my
emergency stash. does philam offer such? if yes, it will be appreciated. thanks!

Post by: lieannb on Aug 25, 2008, 06:45 PM
Quote from: anneMP on Aug 24, 2008, 10:01 PM
I'm not enrolled in any kind of insurance... but here's what the rest of my family are
enrolled in:
health insurance
car insurance
Our home is insured
I think our business is also insured
yikes! daming binabayaranc
hi AnneMP
Im glad to hear that your family have all that insurances, they just want to protect you
that incase something unforeseen happen to any members of the family or even to your
parent's business you will not worry on cash to fund the expenses... probably your parents
didn't think this insurance as expenses but as an investment that you maybe in the future
be benefitted of....
so probably you might consider in getting one.... :hello:

Post by: rainmen on Aug 25, 2008, 10:13 PM
Quote from: neri_9705 on Aug 25, 2008, 12:24 PM
to rainmen:
i already have a life/health insurance c/o manulife but i'm thinking of cancelling it and
going for a term life insurance and use the difference (premium payments) to fund my
emergency stash. does philam offer such? if yes, it will be appreciated. thanks!
yes and we have very affordable rate for term insurance example of premium
3,550 premium for 1M coverage age 35

Post by: hbnow on Aug 26, 2008, 07:34 PM
hi rainmen. ok pala term insurance nyo, parang group rate na yan ng prudentialife. may
term critical illness insurance rin ba kayo (parang sunlife assure
-http://www.sunlife.com.ph/insurance/individual/sunlifeassure.asp). at term hospital
income insurance (no cash values)?
paquote sana ng premiums, im 24 non smoker male. thanks

term life -1million
term critical illness - 500k
term hospital income - 1k/day

Post by: rainmen on Aug 28, 2008, 09:48 PM
1M term life + hospital income of 1,500

premium is 5,798.26
1M + hospital income of 1,500 + critical illness worth 400,000

premium is 7,762.26 (long term fix for 20 years)
our critical illness is for 20 pay only
Post by: learn2liv on Oct 08, 2008, 10:30 PM
Quote from: healthypinoy on Aug 06, 2006, 06:07 AM
I have been an insurance agent for Philamlife for more than 3 years already. Kaya, I will
share what I know.
With regards to educ plans, siguro may pros and cons if compared to MF/UITF. Sa educ
plans (with life insurance companies), and pinakamagandang feature lang eh yung
insurance side nya. Incase na meron mangyari sayo even after you haven't fully paid the
policy eh sure ka na merong matatanggap ang anak mo for his college education.
Like with our educ plan sa Philamlife, we have several features that can be of use incase
something happens sa client. If not yet fully paid, waived na yung remaining premiums.
Kung accident ang kinamatay, may makukuha yung beneficiaries na P500,000 or
P750,000 depending sa plan. Then merong fund na iprovide sa bata incase may mangyari
sa client na hindi pa nakaka abot sa age six yung bata. Starting at age six, meron syang
matanggap na semestral (every six months) na pera para support sa kanyang studies sa
elementary and high school. As to the amount, percentage lang yun ng coverage mo. So
tuloy tuloy yun until such time na mag college naman sya, papasok naman yung college
educ plan na nya.
Sa plan namin, 2 ang nakainsure. Yung bata at the same time yung payor. Yung bata
insured up to age 23. Yung payor hanggang paying period. Paying period varies.
Merong fixed na 5 years to pay meron naman convenience na up to age sixteen nung
bata. mas magaan at mas mura ang payments kapag up to age sixteen. Yun nga lang,
you pay more syempre because of the interests.
Sa MF/UITF, walang ganitong mga features. With this kind of investments kasi, you will
wait for you money to earn until you can get your earnings. Unlike with a educ plan with
a life insurance, you can get the funds already if something happens to the payor. You
have the option to get the insured amount or leave it with the company so that when the
time comes that you will need the money for college education, nandyan na.
May bonus pa after graduation. And all of the benefits will be given to kahit anong
maging decision ng anak mo. Kahit na hindi na sya magaral or maging scholar, eh
ibibigay pa rin syo yung pera mo na nakalaan for the college education. You can then
use it for any purpose that you would want.
Sa plan namin, kailangan meron bata talaga. Kasi nga insured din yung bata.
Compare nyo with other educ plans. See the difference.
If you guys need any help with any kind of insurance, life, non life, accident, property,
car insurance, health care, etc, you can ask me. Lahat ng klaseng insurance meron ang
Philam Life.
thanks and more power to everyone.
Congratulations to everybody who has insurance already! Atleast you are ready for life.
hp
Mukhang ok tong educ plan ng philam, meron din bang ganito ang sunlife?
how much naman ang premium at how long babayaran?
thanks.

Post by: vista on Oct 13, 2008, 07:51 PM
hi rainmen,
is it possible for an OFW to get a term insurance? if yes, dpat ba nsa pinas cya pag nag-
apply? tnx.

Post by: poorguy on Oct 13, 2008, 11:55 PM
i have 3...4 pala yung isa parents ko ngenroll sakin, still need to wait 8more years tapos
maliquidate ko na yung ininvest ng parents ko sa philam... yung isa is sunlife flexi-link....
i am insured at the same time i am earning kc, apart from my annual fees, i can use a
small part of it sa equity or govt bond....the 2 others are here in china, medyo cheaper
yung annual fee ko for it kaya its better to have something, just incase of emergency,
yung isa dun, company ang ngshoulder...

Post by: vista on Oct 14, 2008, 12:10 AM
hi poorguy,
nasa china din ako, also planning to get an insurance here..pwdeng malaman under wat
insurance company ang kinuha mo..
thanks.
Post by: jblee on Oct 14, 2008, 09:23 AM
Quote from: rainmen on Aug 28, 2008, 09:48 PM
1M term life + hospital income of 1,500

premium is 5,798.26
1M + hospital income of 1,500 + critical illness worth 400,000

premium is 7,762.26 (long term fix for 20 years)
our critical illness is for 20 pay only
your terms are fixed for 20 years? that's good! what's the premium of age 25, 1m face
amount? 20 yr term.
do you have a 30 yrs or more term?

Post by: poorguy on Oct 14, 2008, 09:44 AM
@vista
i get the aia...american insurance association...
and allianz both are international insurance company,
medyo nakakatuwa lang yung sa aia, kc if you commit suicide icoconsider din daw nila
yun, pero after 2years pa maclaim....=]

Post by: theww on Oct 14, 2008, 10:56 AM
i have pension plan, 5yr pay, at 16,000 qtrly and educ. plan,5yr pay at 17,000 qtrly., both
at Philam. Both only 4 payments short to be fully paid. With the recent AIG bancruptcy
and the soon to be change of ownership, should i pull out,kahit palugi na, or should i
continue paying nlang?
Also, i recently got(just bfore d crisis) EXCELIFE SECURE which is a 20 yr pay health
insurance, at 40,000 annually. if i will give up EXcelife now, is there any other product
out there similar to it. i like its ROI feature, but shorter paying period sana.
i almost started BRILLIANCE for my 8th month old baby's educ plan. should i delay it
and wait for the situation to stabilize?Get one from another company nlang? YOU see,
lahat ng insurance ko nasa philam, for peace of mind, kasi nga malabong malugi o
magsara. but then...
Post by: acurquia on Oct 14, 2008, 02:55 PM
Philamlife - Life Insurance & Pension Plan

AXA Life - Life Insurance
Prudentialife - Life Insurance
Takaful Taawuni - Accident & Life Insurance
Still looking for a new one... para makasabay ako sa mga taga US & Canada in case they
retire may automatic pension sila matatanggap. On the other hand walang tax dito sa
Saudi Arabia kaya ibayad na lang sa insurance, secured pa.

xiexie poorguy!
try ko ring humingi ng proposal sa allianz pra ma compare ko sa generali.

Post by: gorgeous_mommie on Oct 14, 2008, 08:43 PM
hello.i am connected po with grepalife, i also have one from them po.. 500k life cov.
2000/day hospital income benefit for every confinement.. im 26yo ang premium ko po is
14k annually lang for 10yrs.. ang hosp income po eh 15yrs ang coverage fyi.

@vista
mei guanxi =] hen gaoxing bang ni le =]
i suggest na kunin mo lang kung ano yung kakailanganin mo...kc marami yung iaalok
nila sayo, better kung d rin masyado malaki yung contribution mo para d burden,
protection lang kasi ang kailangan natin dito,
e.g. my aia is around 2k rmb annually i have accident insurance, health and life...if
naaccident ako and resulted to fracture, or maputol yung daliri ko =] they will pay me
around 300k rmb kung nasa private vehicle ako, kung public 500k rmb not bad nuh =]
yung allianz ko kc yung company ang nagshoulder, kaya sa kanila mo din pashoulder =]
icontinue mo nlng kung lipat ka ng ibang company...or baka you have your own company
=] saan k pala sa china? shenzhen ako
hi poorguy!
nsa shenzhen din ako..small time lang ako dito..empleyado lang po.
bka mgkapitbahay pa tayo?!?!!?

@vista =]
d nga, dito ako sa shekou, ako din simpleng mamamayan lang din.o basta keep in touch
kung mapadaan ka dito. pwede ko din irecommenda sayo agent ko sa aia.

Post by: credit.ph on Oct 16, 2008, 04:53 PM
i have sunlife, but its actually endowment, not insurance...but in case of death or sickness,
my agent gave me riders. it costs me Php 1,500 monthly for 20 years, afterwhich i can get
my money with interest. (:

@credit.ph
is this the same as sunlife flexilink?

hi poorguy,
nsa nanshan lang ako...malapit lang sa shekou..secret na lang muna kung san ka/kung
sino ka pra my thrill..hehe..
shekou walmart nag-grocery?! madalas kmi don.
just got Generali's product..okay din nman. Around 1,700 yuan annual premium ko..
@vista
ok lang =] atleast kung may problema, tayo may malalapitan tayo dito, yup dun din ako
ng grocery kc lapit lang talaga,
good for you na nakapili ka na ng insurance, delikado kc dito, only in china will you see,
2 bicycle na head-on-collision, kakaibang nilalang ang nandito =]

Post by: philsdutchie on Oct 18, 2008, 08:34 PM
I have the insurance that I will die some day and I dont pay premium for that
:watchuthink:

Post by: mlangseth on Oct 18, 2008, 11:51 PM
Insurance is to create estate for your loved ones kung wala ka na.
This is good for the middle-class, or those without ample savings, para rin may magastos
once the inevitable happens and para may maiwan sa mga buhay pa. This is a practical
approach of estate planning, actually.
For "the haves", no need for insurance, or get insurance for estate preservation only.
If you are single and no dependent, you do not need any insurance. For what?for
Whom??
Do not be gullible to the insurance brokers.
Watch out for people peddling insurance, some will not pay and you will never know kasi
wala ka na, sayang lang ang premiums.
If you really must have an insurance, get the ones with investment attachment or services
provided. Hindi ka talaga lugi kasi, magagamit mo iyon, just in case.
Just my 25 cents!

agree =] parang pamana nuh =], or panglibing mo and d burden sa family mo...kaya ako
cremate nalang para yung insurance ko mapapakinabangan ng beneficiary =]

Post by: ric_TNT on Oct 19, 2008, 02:38 PM
I have several insurance when I was still in the military service. When i resigned, I did
not opt to have insurance. Most of insurance agents are telling me (marketing strategy)
citing that when someone die without insurance, all his relatives cries because what is left
are funeral expenses. On the contrary, when someone dies with an insurance, everyone is
happy coz they are expecting something.
Anyway, I have heard of many stories relating to insurance that they are aggresive in
collecting premiums and use the pool of money in investments (i.e. using OPM Other
Peoples Money). Further, they hire the best lawyers to seek all avenues of defense in case
of insurance claims in order to preserve their resources. Just my opinion with due respect
to insurance companies operating in good faith. :yoohoo:

Post by: freedomfighter on Oct 19, 2008, 10:11 PM
That's is why in considering getting a life insurance policy or any financial products for
that matter, it is important to consider if the company adheres to a "culture of Integrity" in
dealing with the public.
Regards,
freedomfighter
Licensed Life Underwriter
SUN LIFE FINANCIAL
Almond NBO

kaya ako i buy insurance sa agent na kilala ko din, para they can help in case na
kailangan i-claim yung insurance

Post by: DongViktor on Oct 20, 2008, 01:29 PM
i agree with mlangseth. insurance is used for estate planning or preservation of wealth.
insurance is important & only one part of a solid financial foundation.
of course i also have one that has no premium charge. all your money goes to investment
but with protection of insurance.
-----------------
Dong
Financial Planning Representative

only in china nga yan poorguy! ..

bka sa garden city ka nkatira, ha?!
pag may nkasalubong akong pinoy, itanong ko na lang, kaw ba c poorguy? :hihi:

@vista
cge itanong mo lang , yung kaibigan ko lang nakakaalam ng code name ko hehehe...
mukhang taga rito k nga ah :D

Post by: kat0220 on Oct 23, 2008, 09:30 PM
hi! is anyone here connected with philam or insular? im interested in availing a life
insurance. yung 5 or 10 years to pay lang.
29, female, non-smoker

1M and 2M coverage.
28, male, non-smoker

1M and 2M coverage
Thanks in advance! :thankyou:

Post by: DongViktor on Oct 24, 2008, 09:36 AM
@kat0220
i am connected with philam. of course i also have a life insurance of philam (Asset
Builder), this is a very good product. now i have to set an appointment with you to
discuss this more clearly. would it be ok? pls PM me.
Post by: Deane_2005 on Dec 05, 2008, 12:34 PM
I do have insurance as well. I think its also needed just for protection especially in our
homes and our cars...

Post by: freefront on Dec 05, 2008, 04:33 PM
Quote from: mlangseth on Oct 18, 2008, 11:51 PM
Insurance is to create estate for your loved ones kung wala ka na.
This is good for the middle-class, or those without ample savings, para rin may magastos
once the inevitable happens and para may maiwan sa mga buhay pa. This is a practical
approach of estate planning, actually.
For "the haves", no need for insurance, or get insurance for estate preservation only.
If you are single and no dependent, you do not need any insurance. For what?for
Whom??
Do not be gullible to the insurance brokers.
Watch out for people peddling insurance, some will not pay and you will never know kasi
wala ka na, sayang lang ang premiums.
If you really must have an insurance, get the ones with investment attachment or services
provided. Hindi ka talaga lugi kasi, magagamit mo iyon, just in case.
Just my 25 cents!
I am single but considering my position in the family and where I am at - meaning, nasa
bahay ang work ko at para akong central bank, DFA, Intercontinental Hotel, girl-friday,
gopher( go for this, go for that)- I insured myself from my toenails to the tips of my hair.
I call that Human Economic Value. I am indeed very valuable in the traditional Filipino
Family Dynamics. Since all my income becomes disposable- that is the only estate I will
leave- less of course the amount to be used to bury my carcass.
Also, most of my insurance proceeds will go to a trust fund. I intend for this gift to keep
on giving- with the exception that If anyone of those babies I partially raised wants to go
to Medical school?- the trustee will put up the necessary money for that scholarly
endeavor. Sweet idea, huh? :hello:
Posted on: Dec 05, 2008, 04:16 PM
P.s.
As to making them people you leave behind happy;
I am old enough to know the realities of money and human nature(some if not most).
People will always need money. It is sure hard to get rich starting from scratch. Why not
leave them to ask where that much money you left came from?
Of course, they will ultimately find out that I bought that much money at an obscenely
discounted price. Because you see, I don't mind bothering to do my premiums
quarterly( for sun flexilink) or annually. I take out all the endowments and dividends and
find other investment products to buy. Or plow it back to the other policies.
If I have to bother myself to get rich, I will.

Post by: freedomfighter on Dec 05, 2008, 06:41 PM
Congrats freefront on your very enlightening concept on the need for insurance!
"Truly life insurance is bought not because someone must die but
because someone (our love ones) must go on living".
freedomfighter
Sun Life Financial advisor
09175803858

Post by: katrina on Dec 31, 2008, 01:51 AM
gusto k sana magkaganto kaso wala naman akong stable job isa pa single ako and 21
lang.,gusto ko sana kumuha nito perokaya kolang maipon per annum(year right haha) is
30k meron ba?yun ba yung sa sunlife starter and pano ba yung process?ano ba dapat ko
gawin :scratch:

Post by: DARK.KNIGHT on Dec 31, 2008, 03:14 AM
^Katrina I think pwede ka na magstart ng Sun FlexiLink...dagdagan mo na lang habang

lumalaki income mo....
Much better ask Sir Freedom Fighter :D He is the expert :idol:
We already have several Sun FlexiLink Plans affordable siya...(Pwede na ba ako maging
agent :hihi: well I hope so)
Wish you all the best...good attitude for a pretty young lady...(oooops.... not "pretty
young lady" i think the right phrase is "young pretty lady")

Post by: ahock on Dec 31, 2008, 06:55 AM
may mga life insurance na after 60 years old pwede na i lump na parang pension na din.
Try to shop around and consider those with name. Thats my opnion lang

Post by: katrina on Jan 02, 2009, 01:13 AM
thank you po Dark.knight..sobra kase akong nai inspired dito sa PMT :hihi:

Post by: Bitster on Jan 02, 2009, 09:58 AM
I had some 'With Profit' Life Assurance 'Friends Provident' policies that were
covering my UK Mortgage.
I lost the house in the UK after my divorce, but kept the Insurance Policies. For the
following 2 Years they went down by over 30%, yet my Ex saw the house price increase
by over 20%.
(Just my bad luck that 'Pension Sharing' had not become Law, or could have traded
sharing them with sharing house)
The Policies I had, then climbed back up, to more or less pre-divorce prices.
Trouble was I had moved to the Philippines and a year later was out of work due to the
Telecom recession biting even deeper. I could no longer afford the Premiums on these
Policies, so I converted them into 'Paid Up Policies'.
This meant the Life Cover was reduced (since I was no longer to be paying Premiums to
Age 65), but I would continue to attract lower Annual Bonus, and still get the Terminal
Bonus on reaching Age 65.
I also decided that I needed money now, so cashed in all Bonus payments to date. This
netted me about Php3M back in 2004 (when UK£1 was Php107). I placed that in a 5
year Term Deposit with HSBC paying 8.3%pa Nett (since exempt the 20% Wi8thholding
Tax).
A Year later I received a Statement from Friends Provident on my 'Paid Up Policies'. It
showed I made 0.0075 (0.75%) Interest over the Year!
At this point I realised they was no point keeping such Life Assurance policies to have
the reduced Life Cover and the Terminal Bonus on reaching Age 65. Sure when I was
younger and my income was paying the Mortgage, it was important that if I died, the
Mortgage would be covered, so was good sound plan.
Here I was divorced, remarried to a sexy, brown, loving Filipina, with house fully paid,
no Morgage. My Children grown up and had given them a 2nd House I bought in UK (a
'Council House' - local Government rented property, my Father in Law lived in for 26
Years and then bought, with my 'loan' under the 'Thatcher' "Right to Buy" Policy for
£26,000 when it was valued @ £79,000. He sold it back to me for the same price that I
lent him, with condition he could carry on renting it from me. We put it in the Childrens
name in Trust, to avoid Capital Gains Tax on a 2nd Home (Yeh in UK, there is no
'Capital Gains Tax' ever' on your Main Home - only additional ones!). So my 2 Children
have Half Share each in a Detached House in Mudeford, Christchurch, valued @
£240,000 now perhaps?
I also came to the conclusion that if anyone discovers you are worth MORE Dead
(because of such Life Policies), than You are ALIVE, then there is always that temptation
for some bad relatives, who think that someone could gain from such Policy, and perhaps
share with them, any Insurance pay outs?
Regardless, I cashed those 6 x Policies in, and converted to Peso (when UK£1 was
Php105 in 2005).
The only Insurance I have now, is non-life 'Home Protect' Policy and Car and
Motorcycle Insurance.
(http://www.malayan.com/header.gif)
(http://www.malayan.com/homeprotect_new.jpg)
Malayan Insurance (http://www.malayan.com/homeprotect.html), the number one non-

life insurance company in the Philippines, is pleased to introduce its latest product out in
the market called the New and Improved Home Protect. The New and Improved Home
Protect is specifically designed to secure your home, and more importantly, your family
from fortuitous events that may happen. The product offers the maximum coverage
commensurate to the value of your home, is very flexible, and is applicable not only to
home owners but also to home renters as well.
See my Message Post (http://www.pinoymoneytalk.com/forum/index.php?

topic=16556.msg) for more information on that - particularly the optional 'Family
Hospitalization Insurance Covers'
The Annual Premium for that Malayan Insurance 'Home Protect', with the House
covered for Php1.5M, Contents Php1.5M, and 3 x Family Members under Personal
Accidents and Hospitalization Cover, was Php5,500.
With claim for my Step-daughter Ana Katrina's 'Appendectomy' (Php30,000 pay out),
and my Heart Attack with Angiogram (Heart Catheter Surgery), 2 days in ICU, 3 days
Private Room, I received Php34,000 from Malayan Insurance.
Php64,000 pay out under optional 'Family Hospitalization' from Php5,500 'Home Protect'
Premium, that covering our House against Fire, Theft, and water damage, and have
'Personal Accident' Cover as well (that includes small Life Cover. Well worth
considering in my opinion - as a satisfied customer of Malayan Insurance.
We do have some more Life Cover - that provided FREE with Bank of Commerce
'Value Plus Savings' (VPS) Account (think it may have been renamed You.Affirmed
Savings Account)
Comes with Free accident insurance (Max = Php2M) equivalent to 3 x Average Daily
Balance (ADB)
This just FYI -

I/we are not connected with Malayan Insurance, or Bank of Commerce, other than as
satisfied customers.
David & Salome Whittall

Post by: leela on Jan 03, 2009, 09:27 AM
i'm thinking naman of getting a memorial plan (services) just in case...

Post by: DARK.KNIGHT on Jan 03, 2009, 09:47 AM
Ât the age of 60 you should join the Senior Citizen, the dues is very minimal...at the end
they will be giving 20K I think...hehehe the return is also very minimal...but at least it
will help. Continue your SSS it will help also
You can procure lots now coz it's much cheaper if you'll just going to reserve it for future
use.
If you already have a LOT (memorial)...I think 100K to 150K pesos savings is enough to
give a DESCENT MEMORIAL SERVICE...if you want to be frugal...
Just my thoughts...
WISH YOU ALL THE BEST!!! :winner:

Post by: leela on Jan 03, 2009, 10:07 AM
^malayo pa ako sa 60. kalahati pa lang ako. :hihi: my parents have a memorial lot na but
no memorial service. that's why i'm thinking of getting a memorial service since matanda
na parents ko. and since transferable naman most memorial services, iniisip ko kung
kukuha ako just in case.
kaya lang, magkcompute pa ako ng cashflow ko kung kaya ko pa. dami na ako
binabayarang insurance, eh. :hihi:

Post by: DARK.KNIGHT on Jan 03, 2009, 10:30 AM
KAKALUNGKOT ISIPIN ANG MGA GANYANG BAGAY...But we really have to be

ready..
When my father died, we were all caught unprepared...but thanks to the ALMIGHTY for
helping us and giving us the strength to overcome that tragic moment...
WITH ALL SINCERITY, I AM HOPING THAT YOUR PARENTS WILL CONTINUE

TO HAVE GOOD HEALTH, GOOD LIFE & HAPPINESS THIS NEW YEAR & FOR
THE COMING YEARS.
GOB BLESS ALWAYS!!!
WISH YOU ALL THE BEST!!! :winner:

Post by: mikejorden on Mar 01, 2009, 03:01 AM
I suggest anyone doing business with AXA be very careful. I have health insurance with
them. The biggest mistake of my life. They will use evey subterfuse to delay payment or
authorize treatment. I have a whole list of examples.
You have been warned.
Post by: freedomfighter on Mar 01, 2009, 09:04 AM
@mikejorden please do tell us what really happen? You seems to be really dissapointed
with AXA, some of us here might be able to help you on your predicament.
If you feel and believe that you have a valid claim and grievance against AXA or any life
insurance company for that matter, the proper authority to seek help is the Insurance
Commission.
You may visit personally the office of IC Commissioner, Atty. Eduardo Malinis, and I'm
very sure he will be able to help you out on your complaint.
The life insurance industry is a heavily regulated industry and is governed by our very
own Insurance Code. The same way we have a Civil Code, a Revised Penal Code, a
Family Code, etc..to help protect us in our relations, dealings, or contractual obligations
with other people, the same way with insurance.
This is one distinction of the life insurance industry over the pre-need industry.
Here are the Public Assistance contact details of the IC:
TEL: (632)5238461-70 loc. 102/103

Direct No.: (632)4041758
EMAIL: pubassist_ic@yahoo.com.ph
www.insurance.gov.ph
INSURANCE COMMISSION
1071 United Nations Ave.,
Ermita Manila, Philippines
"WE SAFEGUARD THE RIGHTS AND INTERESTS OF THE INSURING PUBLIC"
Hope this helps.
Regards,
freedomfighter
Sun Life Financial Advisor
0917-5803858
0922-8803858
Post by: freedomfighter on Mar 01, 2009, 05:50 PM
Do You Need to Get Accident Insurance?

Posted by moneysense as Insurance
http://moneysense.com.ph/wordpress/2008/11/do-you-need-to-get-accident-insurance/
Very few Filipinos bother to buy insurance against bodily injury

caused by an accident,
By Carlos Gonzales
Last October 2008, Dr. Francisco Sarabia was driving along EDSA when a speeding
Joanna Jesh bus hit his car with such impact that it burst into flames. The doctor was
trapped and charred to death.
The news came as a shock, as so many similar vehicular accidents and deaths reported
practically every day. What is just as shocking is a recent announcement by the
Department of Health: road accidents are now the fourth leading cause of death in the
Philippines. If the trend continues, health officials fear that road accidents could become
the leading cause of deaths in the country by the year 2020.
Reports from the Philippine National Police are anything but reassuring. In 2006, an
average of 41 traffic accidents occurs every day, caused by driver’s errors, vehicle’s
mechanical defects, over speeding, self-accident, and use of cellular phones while
driving. That year, traffic accidents resulted to 674 fatalities, 3,767 injuries, and 10,623
reported cases of damage to properties.
A study by the UP-National Center for Transportation Studies is even more frightening.
The report entitled “Socio-economic Cost of Road Vehicular Accidents” noted that “with
more than half a million Filipinos involved in vehicular accidents each year, the statistics
show accidents reaching epidemic proportions.”
It found out that a total of P3.5 million is lost per fatal accident, “which includes lost
outputs of casualties amounting to P2.5 million and a significant sum for pain grief and
suffering at P506,450.”
And those are just accidents that happen on the road. The Department of Labor and
Employment has sounded the alarm over the recurrence of fatal work-related accidents,
following the death of workers at the Korean firm Hanjin Heavy Industries and
Construction in Subic Bay Freeport. One fell from a roof while the other worker was
allegedly electrocuted while working at the firm’s motor pool.
An old report by the National Objectives for Health of the DOH revealed that deaths
caused by accident contributed 4.6% of the total deaths in the Philippines. Morbidity and
mortality from accidents and injuries increased in the last two decades. And more than a
decade since that report, it is very likely that the trend continues upwards. The top causes
of accidental death are motor vehicle accidents; submersion, suffocation, and foreign
bodies; intracranial injury; fractures, dislocations, sprains and strains; and accidental
falls.
Obviously, accident can happen anywhere – at work, on the road, at home, even in the air
or at sea. Yet, despite the grim statistics on fatalities due to accidents, Filipinos remain
fatalistic.
There is no better evidence than this than the number of Filipinos with accident
insurance. And that is 1%. The vast majority are not insured at all. Personal accident
insurance accounts for only about 4% of the total insurance business in the business.
Personal accident insurance provides benefits or indemnity in case of losses to the person
or physical well-being of an individual which arise out of an accident. If you fall and
injure yourself at work, lose the use of your legs due to a car accident, or die in a plane
crash, personal accident insurance kicks in.
Various shapes and forms

Personal accident policies are actually relatively new in the Philippines. In other
countries such as the United States, the more popular form is disability insurance. Here,
for the longest time, accident insurance was available only as a rider or extension to a life
insurance policy. If you’ve been sold a policy, you probably have been convinced to add
a few hundred or so pesos to your premiums to avail of what the industry calls an
Accidental Death and Disability (ADD) rider.
Another common way of having accident insurance is through your comprehensive auto
insurance. Personal accident or PA insurance is already included, covering you and
usually up to five passengers against bodily death and injury when you get into a car
accident. It indemnifies you and your passengers for accidental death, dismemberment,
burial, and medical expense. Again, it’s usually just a few hundred pesos for a typical
P100,000 or P250,000 coverage.
If you work for a company generous with benefits, it’s also possible you have group
accident insurance as part of your menu of perks. When you go on vacation abroad, your
travel agent will likely sell you travel insurance for a measly amount. That’s another form
of accident insurance, with some other extras like thrown in, such as compensation for
loss of luggage or trip cancellation and reimbursement for medical expenses.
Yet another way is when you open a savings deposit at your bank with a built-in free
accident insurance, sometimes with a coverage equivalent to your initial deposit. And
because premiums are quite cheap, it’s common to receive a free accident insurance
policy for P25,000 from your friendly neighborhood insurer for a chance to listen to their
one-hour sales pitch.
Nowadays, non-life insurance companies sell standalone PA policies to individuals,

families, and companies. They are typically written on an annual basis. But some are
limited by a certain period (like travel insurance), demographic (for students only), or
location (for accidents that occur at work).
Run for cover

Unlike just disability insurance, PA policies cover more. Here are the benefits offered by
accident insurance:
1. Accidental Death Benefit. The key difference is that accident insurance offers an
accidental death benefit, which pays the principal sum for loss of life due to an accident.
The sum insured of course depends on how much you’re willing to pay. There is
definitely an overlap if you already have life insurance, which gives a death benefit,
subject to some similar exceptions like suicide, whether or not it’s due to an accident.
2. Disability Benefits. This part of the policy is the most morbid, with its detailed listing
of body parts and the corresponding percentage of the principal sum you’ll receive. Lose
both feet? Congratulations, you’ll get everything! Just your thumb? No such luck, you’ll
only get 15%. Worse, if you lose just a toe except your big toe, you’ll only receive 1%.
Without being facetious, this table does seem fair. You’ll be compensated according to
the severity of your disability, as long as it’s permanent, which means actual severance or
total loss of use of a limb.
If you lose the use of both arms or hands, both legs or feet, one arm or one hand and of
one leg or foot, or if you are completely paralyzed, or get totally blind that you cannot
work at all, it is considered “Total Permanent Disablement.” Otherwise, it is considered
“Partial Permanent Disablement.”
Loss of %
life 100%
entire sight of both eyes 100%
both hands or both feet 100%
one hand and one foot 100%
either hand or foot & sight of one eye 100%
arm at or above elbow 70%
leg at or above knee 60%
one hand at or above wrist 50%
one foot at or above the ankle 50%
hearing of both ears 50%
sight of one eye 50%
four fingers and thumb of one hand 50%
four fingers 35%
hearing of one ear 25%
all toes on one foot 25%
thumb 15%
index finger 10%
middle finger 6%
ring finger 5%
big toe 5%
little finger 4%
metacarpals 1st or 2nd (additional) 3%
metacarpals 3rd, 4th or 5th (additional) 2%
any toe other than big toe, each 1%
3. Medical Benefits. You also get reimbursement for medical and surgical treatments for
injuries you suffer from due to an accident, subject to a limit in respect of any one
accident.
4. Burial Benefit. If you die as a result of an accident, the policy pays the cost of burial
expenses.
5. Weekly Indemnity. This is a bonus since you won’t be able to work and earn income.
This benefit pays the amount selected up to 52 weeks in the event of total disability
usually starting within 180 days from the date of accident.
There are of course exceptions as with any type of insurance. The typical situations
where injury due to an accident won’t be compensated for are suicide; insanity; illness;
disease; being under the influence of alcohol or drug; riot, civil commotion, insurrection,
or war; pregnancy, childbirth, miscarriage or abortion; some specifically identified
extreme sports; and certain identified occupations. These days, some insurers have
included or offer as an extension a Murder & Assault benefit, which pays a fixed amount
for death due to unprovoked murder and assault.

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My mom is a Sunlife agent so I consider myself lucky in that my parents started getting

I want to reference a good insurance thread on PEx

Title: Re: Do you have insurance?

Originally Posted by KuyaDanny

Originally Posted by aticus

Originally Posted by aticus

Title: Re: Do you have insurance?

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Fidelity? That one I am not aware of. Pano kaya yun?

Title: Re: Do you have insurance?

Originally Posted by brownpau

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sympre ganun talga ang business, utakan. kelangan nilang kumita

kasi diba, investment is about risk and return

MAS MATALINO ANG INSURANCE COMPANY KESA SAYO!

Originally Posted by zimdude

Title: Re: Do you have insurance?

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and may not work for some.

it's for people who want it to be safeRRR than sorry.

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u'll be better off if u

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kasi minsan lugi ka sa insurance eh, instead of benefiting from them.

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Originally Posted by zimdude

Originally Posted by KuyaDanny

Originally Posted by KuyaDanny

Title: Re: Do you have insurance?

Simula sa post #51 out of 117 :D

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Insurance companies can only start giving returns on a certain

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Title: Re: Do you have insurance?

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