Lets talk about the importance of Life Insurance

[JamesCo]

Above is an illustration of the cost of premium between Term Insurance (Left side) and 5 Yrs limited pay whole life Insurance. Look at age 51 your Term Insurance is paying (Php134,410) more than Limited Pay Whole Life (Php228,200). At any age in Term Insurance there is no money if you withdraw, in 5 Year Limited Pay you can withdraw it or have a policy loan, example at age 51 you can withdraw at least (Php229,000) that figure doesn't include dividends and bonuses given by the company. Is that bad? Do you still want to invest on term insurance?

And if you said that you don't need insurance if your old? Think again if you die at age 80 what will you get from your term (which expires before age 80)? With whole life you get (Php 1,000,000.00) that is 1 Million pesos added to your family. That is adding a 1 Million Pesos to your asset for just Php228,200.00.

If you still say you done need the additional 1 Million for your family when you grow old then withdraw it example at age 60 you can get (Php315,000.00 + Dividend and bonuses) that is getting back your premium already even at age 51 you still get your money back.

Can you still Term insurance is better than whole Life? Is Term Insurance better for your client or better for your commission?

For all those Insurance agent and Stock Brokers, this thread is about Importance of Life Insurance not importance on how you can commission from your client, don't use thread for your personal gain. Is that how CocoLife deal with Insurances, if yes I will inform the Insurance Commision of the Philippines?
I had policy both Traditional and investment product in PhilAm, Sun, AXA and Prulife. All of them except Prulife are good.

Do Not be too selfish.
IT IS ALWAYS ABOUT YOUR CLIENT IT SHOULD NEVER BE ONLY ABOUT YOU.

[JamesCo]

Ranking of Life Insurance proves that the top companies are more trusted by people.
Just look at the figures bellow it shows which company is trusted and which is not.

Traditional means the regular Insurance Product (Client is not directly expose to the investment side, their is a guarantee cash value) the main purpose of these product is to give clients love ones money if the client pass away. Term insurance is just a traditional product that doesn't have cash values. The purpose of term is to protect client in case they can't afford limited Pay Product. Endowment is also Traditional Product but it is more on the cash returns than insurance usually use for education and pension or retirements (because of annual endowment payouts).

Variable means Investment Link Life Insurance Product. It is like Traditional Product but the investment is directly expose to the client. When the policy will self-liquidate or self-sustain you don't need to pay anymore (Just apply Premium Holiday). There is not Guarantee Cash Value, it is fund value (depend on the price of your fund). It is the same as what others above are offering but instead of just term insurance this is whole life means you are covered whole life.

If there are agents who told you that to get term instead of whole life even you can afford whole life, this means they just want to earn commission from you they don't care about you. Please report them to the Insurance Commission of the Philippines.

FYI There are 2 types of License given to Insurance Agent (Traditional and Variable License). They need to pass the exam from the Insurance Commission to get each license. Not all agents have Variable (Investment Link) License that is why some discourage client to get investment Link Life Insurance because they are not allowed to sell.

[JamesCo]

[lorenzoleo]

Above is an illustration of the cost of premium between Term Insurance (Left side) and 5 Yrs limited pay whole life Insurance. Look at age 51 your Term Insurance is paying (Php134,410) more than Limited Pay Whole Life (Php228,200). At any age in Term Insurance there is no money if you withdraw, in 5 Year Limited Pay you can withdraw it or have a policy loan, example at age 51 you can withdraw at least (Php229,000) that figure doesn't include dividends and bonuses given by the company. Is that bad? Do you still want to invest on term insurance?

And if you said that you don't need insurance if your old? Think again if you die at age 80 what will you get from your term (which expires before age 80)? With whole life you get (Php 1,000,000.00) that is 1 Million pesos added to your family. That is adding a 1 Million Pesos to your asset for just Php228,200.00.

If you still say you done need the additional 1 Million for your family when you grow old then withdraw it example at age 60 you can get (Php315,000.00 + Dividend and bonuses) that is getting back your premium already even at age 51 you still get your money back.

Can you still Term insurance is better than whole Life? Is Term Insurance better for your client or better for your commission?

For all those Insurance agent and Stock Brokers, this thread is about Importance of Life Insurance not importance on how you can commission from your client, don't use thread for your personal gain. Is that how CocoLife deal with Insurances, if yes I will inform the Insurance Commision of the Philippines?
I had policy both Traditional and investment product in PhilAm, Sun, AXA and Prulife. All of them except Prulife are good.

Do Not be too selfish.
IT IS ALWAYS ABOUT YOUR CLIENT IT SHOULD NEVER BE ONLY ABOUT YOU.

I think there is no selfish here, Term insurance is good for those who can't afford expensive premiums. I think BTID, is more benefit for your client not me, or other agents, gamay ra ako commission anang Term Insurance but I rather push it for the mission so that everybody can get protected and afford.

Your client can take control of his money for savings, the insurance company will take care of his protection. That's it.

[JamesCo]

Top 3 Traditional - Generali Pilipinas, BPI PhilAm, Insular Life

Top 3 Variable AXA, Pru Life, and SunLife
Bottom 3 Variable Pioneer, BPI PhilAm, United CocoLife

[lorenzoleo]

Top 3 Traditional - Generali Pilipinas, BPI PhilAm, Insular Life

Top 3 Variable AXA, Pru Life, and SunLife
Bottom 3 Variable Pioneer, BPI PhilAm, United CocoLife

Now you are already comparing companies. Tsk2x!
Just compare with the benefits and affordability.

[JamesCo]

I think there is no selfish here, Term insurance is good for those who can't afford expensive premiums. I think BTID, is more benefit for your client not me, or other agents, gamay ra ako commission anang Term Insurance but I rather push it for the mission so that everybody can get protected and afford.

Your client can take control of his money for savings, the insurance company will take care of his protection. That's it.

The data above is very clear that the client get there return of investment at age 51 less than 20 years.
And why would you priorities investment rather than life insurance?

Imagine paying total of Php228,200 spread to 5 years to get 1 Million Pesos and when you need money you can get money from your policy when your still alive.
Or Paying Php134,410.00 but if you need money you can't get any from your insurance.

If you want investment why not offer them investment link Life insurance its whole life and not term only, Same you money is also being Invested into stock.

[JamesCo]

Now you are already comparing companies. Tsk2x!
Just compare with the benefits and affordability.

This is showing people the performance of companies. I don't profit from this.

[lorenzoleo]

YouTube - Commandment #4: Protect your greatest asset: Yourself

[lorenzoleo]

This is showing people the performance of companies. I don't profit from this.

Good, by why then, I want to buy Term Insurance from AXA life, why your agents pushing it to me to buy whole life, and I need only Term Insurance? Why keep on pushing me to switch to WHole Life? For commission? or for helping me get the right protection?