Savings: invest in a life insurance or bank?

[joop]

mikuha sad ko sa Generali, kanang affiliate sa BDO -- same2x 5yrs term payment then naa ka madawat 3yrs after paying full or every after 3yrs until panaw,lol

pero murag alkansi, pero saon nga naa naman padayun nalang bayad anyway 2yr na sad ko ga bayad ani, so paabot nalang tulo ka tuig unya pede na mag sige hinuktok,lol

[browniies]

and planning to invest in mutual funds...

[ironmack08]

parihas man walay kasiguradoan ang duha TS....within this decade bitaw daghan kaayog mga insurance company nga nag close....and even banks sad..........Pero if ganahan jud ka, look for a bank nga ang investment not just focus sa america...but have business and investment sa mga company here sa Philippines and Asia....kay usually sa mga nanga close nga insurance and bank company kay kato mang nag.invest ug maayo sa US...mao ng pag down sa US.....na down sad sila....tsk3....

[Metz]

-invest in life insurance if you really need one(dili tanan nanginahanglan ug life insurance). but PURE life insurance. not life insurance with investments, kay grabe ka hinay sa tubo ana.
(search istorya for my post, with computations if you want the numbers)

-DONT invest in banks. Banks are for short term cash/business needs but if you want growth, INVEST where banks invest.

-invest in liquid investments that earn 8% to 12% average per annum. (PASSIVE)
if you dont have investing experience, invest in mutual funds, healthcare investment or reputable coops.
naay mga mutual funds who have 15% per annum average growth for a 10 year period.

if you have time to monitor and study stocks, invest direct(PASSIVE OR ACTIVE), if wala pag mutual funds nalang.


of course, mas dako jud if mag business ka(ACTIVE). but never forget that dako lagi ang return but daghan pud nayabo sa negosyo. if you think kaya, then go go go.

[King LeBron]

have both... both companies should be performing well for the past decades.. research.. google ra katapat..

[windsong]

Dont be close minded pips investing is a great alternative gyud like mutual funds

[eureshka]

-invest in life insurance if you really need one(dili tanan nanginahanglan ug life insurance). but PURE life insurance. not life insurance with investments, kay grabe ka hinay sa tubo ana.
(search istorya for my post, with computations if you want the numbers)

-DONT invest in banks. Banks are for short term cash/business needs but if you want growth, INVEST where banks invest.

-invest in liquid investments that earn 8% to 12% average per annum. (PASSIVE)
if you dont have investing experience, invest in mutual funds, healthcare investment or reputable coops.
naay mga mutual funds who have 15% per annum average growth for a 10 year period.

if you have time to monitor and study stocks, invest direct(PASSIVE OR ACTIVE), if wala pag mutual funds nalang.


of course, mas dako jud if mag business ka(ACTIVE). but never forget that dako lagi ang return but daghan pud nayabo sa negosyo. if you think kaya, then go go go.

salamat. Check niya nko.^^

[Zebastian rella]

ill just save it in a stable banking institution than investing it on a life insurance policy.

[makie]

Life insurance and banks serve different purpose.

Life insurance serve as an income protection. Kung ikaw ang bread winner sa family and your family is not financially secured yet, you definitely need life insurance. Times are very uncertain and anytime, pwede ka maaksidente or worse, mamatay, God forbid. If you have insurance, imong family makakuha ug instant money from the insurance company. It replaces your income. At least di maglisod kaayo financially ang nabilin.

Banks on the other hand are for [1] safe keeping, and [2] business transactions. Banks are only good for emergency funds. Financial planning experts suggest that you must have at least 3-6 months income as your savings. For example, if you're earning P20T a month, you must have at least P60T as your savings in the bank. The purpose for that is kung naay emergency, you have cash nga available dayun so you won't resort to debt. The higher the emergency fund that you have, the more secure you are. Of course, ayaw ra pud ibutang tanan nimong kwarta sa emergency fund kay di na mogrow. Put the rest on investments such as mutual funds, UITFs, stocks, bonds, or maybe start a business.

Life insurance and health care ang dapat unahon because people get sick. Walay tao nga di magkasakit and getting sick is very costly. So between life insurance and bank? I'd pick insurance.

Why insurance?

1.) Its a protection while I'm working and earning an income.
2.) It is cheaper if I get it while I'm younger.
3.) Insurance is something that I can only get if di pa nako kinahanglan. Most people fail to see this part. They think that insurance is an additional expense. But once they get sick, pwerteng dakoa ug gasto. If you have life insurance and health care, your hospital bills will be cut by 70% to 80% and God forbid if naay accident or worse death gyud, the ones that are left behind get financial support.

If naa na koy insurance, I can work on my savings and investments next. No matter what will happen, at least hospital bills won't hurt me financially or my family won't worry financially kung naay mahitabo.

Getting a life/health insurance and saving in the bank (emergency fund) are just 2 of the 6 steps in building the right financial foundation.

[makie]

I was actually invited to invest for a LIfe insurance. Yes, its nice to know na insured ta. I can pay what the insurance kay naa pako work pero ang problema nako, what if wala nako work? If i do, i would also need to stop spending for the gadgets or lifestyle i want. Please ko advise if its best to put my savings in an insurance company or would it be best to save it sa bank.

Whole life insurance - You will be paying for the rest of your life for coverage
Term life - You will only be paying for a specific period of time and coverage

I suggest pick term life because you won't need a life insurance for the rest of your life. Kinahanglan lang ang insurance if you're still building up your savings, investments, and financial foundation. But if dako na ug growth imong investments, if dako na imong savings, you will no longer need an insurance because just in case something will happen to you, naa na kay ikabilin sa imong family.

What you need is health care. People get sick. Get a long term health care policy because it will keep you from spending a lot para sa imong health. Short term health care policies only cover up to age 60, long term health care covers beyond 60.