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Variable Life Insurance

Jake · 19 · 4349

Jake

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on: Feb 14, 2012, 10:00 PM
Apparently, this is the only financial product that could satisfy two of your most precious concerns; having life insurance to financially protect your loved ones while raising or preserving your capital at the same time.

VARIABLE INSURANCE.

http://pinoyinsurance.wordpress.com/2012/02/11/variable-life-insurance/

I know the internet and this forum is filled & littered with tons of information about such topic. I offer an alternative view,a common Pinoy point of view, about the benefits and intricacies of this amazing instrument.

Read on, this might be the one you're looking for.

P.S. To my fellow financial advisors & life insurance agents/brokers, please feel free to share additional information regarding Variable Life. You studied, reviewed & passed the licensing exam, why not share your knowledge to our fellow Pinoys? It will be very much appreciated.
« Last Edit: Oct 02, 2012, 08:45 AM by FutureGizmo »


bauer

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variable life insurance. in my view?

the most non sensical product develop whose aim is to 'fatten' the companies' profits.

Get a simple life insurance (cost a lot less).

Save your own through UITF, mutual fund, stocks, time deposit, SDA, etc. (you earn more)


Jake

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variable life insurance. in my view?

the most non sensical product develop whose aim is to 'fatten' the companies' profits.

Get a simple life insurance (cost a lot less).

Save your own through UITF, mutual fund, stocks, time deposit, SDA, etc. (you earn more)

I respect your point of view. My you be blessed in your future financial choices. Variable Insurance is here for the people to create an alternative financial vehicle that they could use to help them achieve financial wellness..
If you have UITF, MF's, TD's & SDA's then I commend you, for you have made a good move towards being financially well.

There are tons of Variable products that are people-oriented not company-oriented, If you live longer, please try and see for yourself the benefits of having one.


dspinon29

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Hi, :welcome:

Just to share my insights..

A variable life insurance is a another type of financial savings vehicle that contains two components, the insurance (which answers your protections in case of sudden things that happen to you) and the other one is the investments (typically answers your financial security)

In these type of plan, your typically double indemnify because it does not only answers your protection in life but it will also answer your financial needs in future..

In a simple layman situations., these plan typically plays the same role like SSS and Pag-IBIG which every employee has this one.. :cool2:


allanmm13

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A variable life insurance is a another type of financial savings vehicle that contains two components, the insurance (which answers your protections in case of sudden things that happen to you) and the other one is the investments (typically answers your financial security)

In these type of plan, your typically double indemnify because it does not only answers your protection in life but it will also answer your financial needs in future..
For diversification purposes, I won't put both my investment & my insurance in one institution.
 No matter how stable a financial institution today, 20yrs down the road, we dont know if its still there.  

"don't put all eggs in one basket"- warren buffett

There are tons of Variable products that are people-oriented not company-oriented, If you live longer, please try and see for yourself the benefits of having one.
I heard before that these Variable products are created by insurance companies to compete with the investment house like MFs and other similar.. So i dont know how did it become people-oriented (?) if it was created by these company to compete with another company.

BTW, investment part of these Variables is not owned by the policyholders. Its the insurance companies themselves who own it vs. MFs which is co-owned by the individual investors.. Is this the true case of people-oriented?
« Last Edit: May 29, 2012, 01:40 PM by allanmm13 »


amanda.p

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I would have to agree with Allan on this. Diversification is a key to financial stability. It frees yourself from worries, and save yourself from probable financial trouble in the future due to sourcing financial in only one location.


ferrariEverest

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No matter how stable a financial institution today, 20yrs down the road, we dont know if its still there.
in that case, it's not a matter of 'set and forget'.
u should continually monitor & scrutinize the holder of your monies. :cool2:
I would have to agree with Allan on this. Diversification is a key to financial stability. It frees yourself from worries, and save yourself from probable financial trouble in the future due to sourcing financial in only one location.
just to complete the whole picture...
misuse of diversification magnifies the risk to the investor.
diversification should be used properly. :cool2:


mamee

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Maganda lang ang vul para sa mga hindi marunong sa mf, uitf, stocks, imo.


ferrariEverest

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^ bakit po maganda?
'maganda' is a relative term.
kung d marunong/walang alam sa MF, UITF, stocks, then risky lahat kahit pa VUL.

responsibilidad po na pag-aralan kahit ano pang instrument, mapa- VUL, UITF, time deposit, etc.


maillotjaune

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Im glad I found this thread.

I would like to share a few things.

Where I work, we are frequented by these different insurance agents.It is a hospital. Initially, I totally had no idea regarding these financial products & I was averse to the idea of having to pay up for something regularly which again I have not researched. I typically like all my money in my pocket and/or in the bank. At one time, I even had all of them underneath my bed because I followed someone's CNBCs advise to hold & physically appreciate your hard earned money so you will not part with it easily at a time & age where our money has been but reduced to figures in you computer screen or ATM screen. Anyway, I dont do it anymore.

Going back on topic VULs.

In retrospect, they were selling these VULs. Part insurance & part investment. But I held out, did my research & collated different proposals from 3-4 agents.  Initially the prospect of all your premiums being returned to you after like 15 or 20 years was appealing. Who would not want that? But closely studying the different proposals & trying different provisions & their combinations ( waiver of premium, accidental death benefits, return of premiums etc...)...I figured out that what makes the premiums expensive is the Investment portion. Again, I am nowhere near being a financial guru.
Eventually, I got a basic life insurance. The agent agreed with me that Yes its the investment portion which in effect quadruples the annual premium compared to that of a straightforward Basic life insurance. Take note, in the many visits she did, she did not point that out. Instead, she kept peddling that product.

A few months later, the CITISEC guys visited our place & gave a primer on stock investing & their EIP program. Those guys know what they are talking about, a good lightyear away from those insurance agents. Somewhere in the Q & A portion, someone asked "what their opinion is regarding these Insurance products" as these are regularly being peddled around?  The CITISEC consultant smoothly answered -- that you can get these 2 products individually & cheaper.  At that time, I did NOT exactly understand what he said but I made a mental note of what he said word per word (for later review). Normally I wouldn't remember or pay attention to these but you know a smart guy when you see one.

A few months passed by & I have read up on other investment vehicles in an attempt to outrace inflation & avoid subsidizing bank operations by just parking your money in SAs & TDs.  I have started out a little of each (MFs, UITFs, stocks);

Again,in retrospect, Im glad I did not get the original VULs being offered to me. Instead, I have a basic life insurance (life & accident) & MFs (with BPI), UITFs (with BDO) & stocks (citisec EIP).



Soorry for the long post.

But Bauer said it short & he said it best.

HTH.


allanmm13

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The agent agreed with me that Yes its the investment portion which in effect quadruples the annual premium compared to that of a straightforward Basic life insurance. Take note, in the many visits she did, she did not point that out. Instead, she kept peddling that product.

She can get alot more commissions for the 1st 3yrs for giving you a VUL than straightforward term life insurance..
Just learn this from ANC On the Money, Friday Q&A

View the Q&A here.. ANC On The Money: Q&A Friday [September 21, 2012]
« Last Edit: Sep 29, 2012, 05:31 PM by allanmm13 »


kithe

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Long term plan po ang VUL and not like purely mf, uitf or stocks na pwede niyo na kaagad ma compute kung kumita na ba kayo or hindi..

VUL or variable unit linked is a combination of term insurance plan and investment (mutual fund)

Tama po na may charges and malaki nga on the first year, kasi may commission ang agents.. Kahit naman po sa traditional plan may commission din ang agents, di nga lang katulad ng vul na naka specify sa policy contract, like premium charges, monthly periodic charge, insurance charge..

VUL po kasi compared sa traditional plan, although parehas naman sila ng benefit sa insurance portion, mas malaki po kasi ang chance na mag grow ang funds mo kasi nga may mutal funds..
Sa traditional plans, guaranteed ang cash value pero mostly ay nakalagay lang sa bonds products..

VUL is for long term, insured ka while saving.. wag niyo po siya icompare sa purely mf, uitf, stocks.. All these products are vehicle to achieve your financial freedom. Kung ano man ang napili niyo, GOOD LUCK.


allanmm13

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Kithe.. I think you are the one who "keeps" comparing VUL with either term insurance, mutual fund or traditional by saying "is not like mf", "may commission din (ang agent)" sa traditional, "mas malaki chance compared to" :)

I'm nothing againt VUL nor traditional plan, I believe I can use them in the future as part of my financial defensive strategy. Mas prefer ko lang now separating both investment and insurances. It gives me more flexibility.

BTW, sorry I have to "compare" the investment part. In practice, the investment component of insurance is not a mutual fund. MF usually issues you a share certificate, has investor shareholder meeting and they filed separate SEC docs as required by law.
« Last Edit: Sep 30, 2012, 12:03 PM by allanmm13 »


joshlegaspi

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variable life insurance. in my view?

the most non sensical product develop whose aim is to 'fatten' the companies' profits.

Get a simple life insurance (cost a lot less).

Save your own through UITF, mutual fund, stocks, time deposit, SDA, etc. (you earn more)

very well said.

I was part of the insurance industry, life and non-life, not on the sales dept but on operations side.  i saw how VUL works, and i agree this is not a good vehicle if your target is for investment and growth. 

Buy a term insurance for protection and directly buy MF and UITFs sa banks.

Even financial experts such as Suze Orman hates VUL to death!!!


darkknight

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Apparently, this is the only financial product that could satisfy two of your most precious concerns; having life insurance to financially protect your loved ones while raising or preserving your capital at the same time.

VARIABLE INSURANCE.

http://pinoyinsurance.wordpress.com/2012/02/11/variable-life-insurance/

I know the internet and this forum is filled & littered with tons of information about such topic. I offer an alternative view,a common Pinoy point of view, about the benefits and intricacies of this amazing instrument.

Read on, this might be the one you're looking for.

P.S. To my fellow financial advisors & life insurance agents/brokers, please feel free to share additional information regarding Variable Life. You studied, reviewed & passed the licensing exam, why not share your knowledge to our fellow Pinoys? It will be very much appreciated.
If ever na kumuha ako ng VUL as Owner and insured person but I am 48 years old now,pwede bang ako ang naka-insured o di na pwede kasi overage na ako?I need your reply.


 


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