Author Topic: The right insurance - Whole Life or Term? (Read 5020 times)

rainmen · « **Reply #30 on:** Sep 15, 2008, 04:32 PM »

no, you are welcome to join our GA/EB and be apart of our coop.

DongViktor · « **Reply #31 on:** Sep 15, 2008, 04:48 PM »

thanks..

freedomfighter · « **Reply #32 on:** Sep 15, 2008, 07:22 PM »

DongViktor,

Pare, I hope I did not dampen your zeal in trying to help our fellow filipinos achieve financial freedom. I admire your unselfish motivation. Just a suggestion bro, why not suggest to your firm to formally sponsor too your being accredited as licensed advisors/agent of the various financial products you are offering. The same way life underwriters and bancassurrance agents are required to pass the IC examination and MF representatives to pass the Investment Company Representative Certification Examination (ICRCE), why not legitimize your vocation by doing the same?

If even the SEC is now strictly regulating the pre-need industry especially in dealing with brokers and their agents who offer pre-need plans without the necessary permit to sell securities or the required licenses of their agents, how much more those other financial products/securities that are also heavily regulated?

I don't know if any of you were able to watched the ABS-CBN XXX expose' the other night about a particular pre-need company selling pre-nead health plans in Catanduanes without the required permits and licenses issued by the SEC. The SEC is adamant that without the necessary permit issued to PHIL-ASIA CARE, INC. to offer for sale pre-need plans to the public as well as without the necessary licenses of its agents, Phil-Asia Care can not conduct business to the public.

Here's another story I bumped into involving Phil-asia care, inc., this time in the province of Aklan:

http://madyaaspublishing.blogspot.com/2008/08/sec-warns-business-transactions-with.html

This only highlights the importance of complying the regulatory requirements in the financial services industry.

If your company can not do this, then I invite you to consider joining my company so as to avail of the necessary free trainings and sponsorship to equip you to pass the required regulatory examinations and be able to formalize your being a true financial advisor. Just pm me bro.

Regards...

AMARANTH · « **Reply #33 on:** Sep 16, 2008, 01:10 AM »

Read the (Insular) fine print
July 23, 2008

No less than taipan John Gokongwei was intrigued some months back by the bold claim of an ongoing Insular Life campaign guaranteeing the 255-percent return of premiums paid by any policy-holder at the end of the 20-year protection period.

How can they do it? the taipan rhetorically asked business columnists during a dinner.
Well, this weekend, the answer finally came to light.

In a repeat of the same ad, Insular Life provided a footnote the guaranteed returns are subject to deductions in hospitalization and accident benefits availed of by the policy-holder, which in any case already have built-in caps, up to P2 million, as protection for Insular Life.

DongViktor · « **Reply #34 on:** Sep 16, 2008, 01:40 PM »

@freedomfighter

no problem sir. i guess it was my fault too. i was so eager to do the business. honestly i was just trying to attract people to check us out, not expecting anything from them. actually, my organization discourage this campaign that i'm doing coz it will just create misimpression.

i also want to be a financial advisor. right now being in this org i'm doing that slowly. btw, we also pay as members P500 yearly for the license required by SEC.

regards to all,
dong

bunot · « **Reply #35 on:** Sep 24, 2008, 02:16 AM »

DongViktor · « **Reply #36 on:** Sep 24, 2008, 08:17 AM »

hi bunot,

thanks for sharing your inputs.

can you put the (estate planning) to illustration in relation to establishing trust accounts? trust account is just a form of investment right? correct me if i'm wrong.

pilgrimpanda · « **Reply #37 on:** Jun 29, 2012, 03:59 PM »

Buhayin ang topic!

Guys, I was given a term insurance protection from Manulife. I computed how much it would cost me to pay for insurance til I'm 65 and it would be over 200K. I'm 30 now by the way. Now, the whole life plan I got from Insular would only cost me about 18K a year for 10 years and I'm covered till I'm 99. When people say buy term, invest the difference, hindi ba natetake into consideration that when computed, when totalled, mas mataas ang premiums for term? Or maybe I shouldn't compute til 65. Maybe if I compute til 50, mas mababa talaga ang term premiums. But I want kahit pano may coverage pa rin even when my kids are out of school, or when the house is fully paid already. Ano sa tingin nyo? Thanks guys!

ryanco · « **Reply #38 on:** Jul 22, 2012, 03:09 PM »

@pilgrimpanda
Hi there! I'm a financial advisor from Manulife. Term insurance is cheaper than whole life insurance. term insurance is renewable every year, but the premium increases as you age. If you plan a long term protection then I suggest you get a whole life plan. On Manulife there's a whole life plan called "Seasons". The maturity of the plan is at the age 85. You get the maturity value of your face amount by that age even if your still alive. Plus you also get the guaranteed cash value + the dividends earned. Sa whole life plan kasi, mura ang plan lalo na if you get it when you're still young. If you're free, I can set an appointment with you para ma discuss ko sayo.

allanmm13 · « **Reply #39 on:** Jul 22, 2012, 05:24 PM »

Quote from: ryanco on Jul 22, 2012, 03:09 PM

term insurance is renewable every year, but the premium increases as you age.

Correction, not all term insurance are renewable every year.. There are 5-,10-,15,20-yr "level" term insurance where you can "lock" the premuim from start to end..

Most of my insurance are level term insurance and can be converted to permanent insurance if i want to use them for estate planning purposes.

naya · « **Reply #40 on:** Jul 22, 2012, 06:07 PM »

Do you think the cheapest but adequate term insurance around is Insular Life's Money Back Reloaded 4-in-one policy?

bauer · « **Reply #41 on:** Jul 25, 2012, 05:48 PM »

^ Do not judge the value of an insurance because it offers the lowest price or the benefits are very big.

Get an insurance because the company is there to help you when you need them most - CLAIMING your INSURANCE payout.

hindi kailangang makipag away or makipagtalo pag nag claim ka.
hindi kailangang mauwi sa kaso sa korte.
hindi babawasan ang claim mo dahil sa kung ano anong palusot.
at lalo naman na hindi nagsara ang kumpanya.

huwag masilaw dahil mura or malaki ang policy value.

BatmanBeyond · « **Reply #42 on:** Jul 26, 2012, 03:44 PM »

It depends actually on your financial needs. Term if you just want a cheap one. Whole life if you want a lifetime coverage plan that has guaranteed cash value that accumulates over time as well as possible dividend earnings that you can enjoy during your lifetime.