Lets talk about the importance of Life Insurance

[EmyHot]

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I have to check the info of my policy, bwisit akong agent.

[acejoy17]

Imo unta gi get ang name sa insurance company then cross research it through insurance commission.

lagi. ako unta gi kuha pero gi sapot naman gud ko atu ni walk out ko. siguro sunod if naa ko megamall ill check the area again if naa pa sila. Although i doubt it hehehe......

[lorenzoleo]

Contestability period of Life Insurance is 2 years.
In term insurance, at age 24, you can pay only around 9K annual with 1M coverage already with Accidental Death Benefit and Waiver of Premium due to disability. Meaning if the plan holder dies by an accident times 2 ang coverage makuha.

Buy Term Invest The Difference.

[SioDenz]

yearly ba ta magbayad anang insurance? like term insurance na inyu gi ingun? naay monthly sad? tnx

[honey2723]

@acejoy - naa koy idea sa imong experience... i actually tried them out. ingon ana ko ka-curious nila... i'm in the insurance industry as well and been hearing stories about them.. so, one time, naa ko sa SM, diri sa cebu, i went willingly with them... (naa man daw koy prize! pa-as if wala ko kahibaw unsay mahitabo)... hehe

anyways, i had exactly the same experience as yours... The juice... Customer service... and also the HARD-SELLING nga part.. sa sige nako ug decline na sa offer, ako pay gipa-gawas nga bugo! AMAW! Anyways, got out alive! haha Walk-out effect pud ko... But after the experience there, i did some more research... It turns out that the company providing the insurance product IS LISTED UNDER THE INSURANCE COMMISSION... so, they are a legitimate company... the company marketing them, THE ONE FOUND SA SM CEBU AND MEGAMALL, are also legitimate companies... marketing firm na sila sa insurance company.. what they are doing is another marketing strategy that is effective to some but annoying to many...

How did i get to know these?? My mother-in-law got one from them... She only told me days after i listened to the agent didto sa SM... so, when she got her policy contract, got all the details there and also checked the paper nga nakuha niya as part of the presentation...

So, mga higala... They are legit, BUT if dili mo ganahan ma-ahat ug sign-up for a plan out of kasamok or ma-high-blood, better not go in with them... bahalag naa pay prize or lami nga ice tea... hehe kay tabangan jud mo ana nila...

[honey2723]

yearly ba ta magbayad anang insurance? like term insurance na inyu gi ingun? naay monthly sad? tnx

when you say TERM insurance, that means you pay for it for one-whole year (or some kay 5 years, 10 years, depende sa provider, but kasagaran 1 year sya)... Anyways, if you don't get to use it or avail of it's services/benefits, then considered as expense na to siya nimo... You don't get anything out of it na... If you decide to renew the ff year, bayad na pud ka ug laing amount and maybe this time, higher na imong bayaran kay mas nitiguwang naman ka... But before you question the cost, think of the value it can give you and your family...

Kung whole life insurance ka, naa kay specified number of years nga mag-bayad, either 1 year lang, 5 or 10 or 20 or even lifetime ka mag-bayad... But at least dili mag-tubo ang imong bayaran... Fixed lang imong bayaran... And most of the time, maka-generate pud ka ug savings...

Term and whole life insurance has it's pros and cons... Mas better mu-sturya ka sa mga naka-hibaw jud ana para ma-explain ka ug tarong... You can join in sa akong Personal Finance Literacy Program... Insurance will be discussed as one investment vehicles and unsa pros and cons niya... Other investment vehicles will also be discussed... Check out this link for more details... https://www.istorya.net/forums/busine...program-2.html

[emersonuy]

Hi, share lang sad ko sa akung opinion.

For me mas ok nga TERM insurance lang ang paliton for the following reasons.
1. Cheap
2. Big coverage (9-10K premium for 1M coverage. For people around late 20's)

So after naa naka term insurance lets say 20 years ka covered. During sa 20 years nga covered ka, you work hard to generate as much funds as possible. Para after sa 20 years if you are still alive, you are now self insured. If dili pa gani naa kay enough budget para mu renew sa imu TERM insurance.

Mahalan rajud ko sa whole life. Sa aku lang ni nga point of view ha. Lain2x man jud tag opinion.
Mahal nang whole life kay ang computation sa premium ana kay until age 99. So diba mas tiguwang mas mahal man. So mu mahal jud whole life.


So instead of buying whole life, buy TERM insurance then i invest ang difference.

[acejoy17]

@acejoy - naa koy idea sa imong experience... i actually tried them out. ingon ana ko ka-curious nila... i'm in the insurance industry as well and been hearing stories about them.. so, one time, naa ko sa SM, diri sa cebu, i went willingly with them... (naa man daw koy prize! pa-as if wala ko kahibaw unsay mahitabo)... hehe

anyways, i had exactly the same experience as yours... The juice... Customer service... and also the HARD-SELLING nga part.. sa sige nako ug decline na sa offer, ako pay gipa-gawas nga bugo! AMAW! Anyways, got out alive! haha Walk-out effect pud ko... But after the experience there, i did some more research... It turns out that the company providing the insurance product IS LISTED UNDER THE INSURANCE COMMISSION... so, they are a legitimate company... the company marketing them, THE ONE FOUND SA SM CEBU AND MEGAMALL, are also legitimate companies... marketing firm na sila sa insurance company.. what they are doing is another marketing strategy that is effective to some but annoying to many...

How did i get to know these?? My mother-in-law got one from them... She only told me days after i listened to the agent didto sa SM... so, when she got her policy contract, got all the details there and also checked the paper nga nakuha niya as part of the presentation...

So, mga higala... They are legit, BUT if dili mo ganahan ma-ahat ug sign-up for a plan out of kasamok or ma-high-blood, better not go in with them... bahalag naa pay prize or lami nga ice tea... hehe kay tabangan jud mo ana nila...

aw, maayo legit sila kay luoy jud ang na dala sa ila marketing scheme if dili. Irit lang jud and na wala ko trust atu gipa kita nila ila clients na naa sa showbiz. Naa pa picture hehehehe.... Naa koy insurance agent na asa ko ni kuha ug policy mas ganahan ko nya coz mu ask what u want or looking for, then present and give u time to think about it. Dili ka pressure na sign up dayon so if naa ka clarifications pa pangutana lang. I hate hard selling. ako tig buy n sell ko usahay and I do make rapor and try to convince them to buy pero i would respect my prospect if mu say No and just request to think of me if they do decide to buy a product that im selling or naa sila friends interested to buy from me.

[lorenzoleo]

aw, maayo legit sila kay luoy jud ang na dala sa ila marketing scheme if dili. Irit lang jud and na wala ko trust atu gipa kita nila ila clients na naa sa showbiz. Naa pa picture hehehehe.... Naa koy insurance agent na asa ko ni kuha ug policy mas ganahan ko nya coz mu ask what u want or looking for, then present and give u time to think about it. Dili ka pressure na sign up dayon so if naa ka clarifications pa pangutana lang. I hate hard selling. ako tig buy n sell ko usahay and I do make rapor and try to convince them to buy pero i would respect my prospect if mu say No and just request to think of me if they do decide to buy a product that im selling or naa sila friends interested to buy from me.

Aggressive marketing lang na ilahang style. Hehehe! maybe naa silay quota na apason. Hehehe!

[lorenzoleo]

yearly ba ta magbayad anang insurance? like term insurance na inyu gi ingun? naay monthly sad? tnx

Naay Term Insurance na 20 Year Renewable Convertible Term. Meaning example you start at age 24 then annual premium is Php 7,340 (Cocolife lang ako sample), for 20 years mag pay ka ug same amount bisan ni taas na imu age. Pero for 20 years at the same time dapat nag Mutual Funds ka para mu saka imung Equity Line, para once Imu ma achieve imung Big Savings, self-insured naka and you don't need Insurance anymore.