Life's Uncertainities Makes Me Think

[Metz]

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Salamat sa mga response ninyo mga sir..ü Nikuha nku ug kaiser..ü hulat nlang kos policy...ü Very nice man diay.. Sir Makie kana imung AXA term life pla na years to pay, s 8 k2ng 5yrs payable? Mahal man gud ang uban 20yrs pa imu byaran..wiw

congrats sa imo Kaiser
so far Anne, your Kaiser will be good enough for now. saksak sa nato sa mutual funds whatever extra naa nimo para mas kusug ang growth. but if you really want life insurance, mag BTID ta.

@TS

about life insurance, maski unsa pana nga program ioffer the "buy term insurance and invest the difference"(BTID) will always show a bigger profit kay ikaw mismo mag invest. But don't take my word for it, ask for a proposal from other insurance companies then ask a broker in IMG to convert it to BTID and compare. dako jud kaayo ang difference hehe.

[Metz]

before buying insurance look for someone na maka advice nimo ug sakto ayaw sa mga insurance agent...

agree ako ni sir makie...

a better way to state this is... look for multiple offers before committing to one policy and do your research.

TS can do this,

1. get proposals from AXA, Sunlife, and Insular.(or add your favorite company here)
2. get a BTID conversion for the "best" proposal offered above from an IMG broker.
3. google "Buy term invest the difference", mutual funds, term life insurance.
daghan financial experts mo recommend ug BTID.

[Metz]

Please check this link Whole life VS BTID

It's a comparison of 2 proposals I made. One came from someone who advocated whole life, while we advocate BTID.

[wizard_jamex]

First of all, congratulations for realizing that. Daghan kaayo tao ang walay insurance and they think that they don't need it.

About the insurance, first thing you have to consider is the company. Stable ba ang company? Who are the people behind it? The features of the plan is useless kung ang company mismo walay klaro.

Go for term insurance. Para nako, term insurance is better because it will only cover you for a specific period of time. Kung whole life man gud, there might come a time nga ang imong nabayad sa premium kay sobra pa sa amount nga icover, alkansi na ka. Di na mahitabo sa term insurance. Ang nakanindot sa term insurance kay naay BTID concept (Buy Term and Invest the Difference). Sa ingon ani nga paagi, you get an insurance and investment at the same time. In case dili magamit ang imong insurance, you will get a cash value after the term and you have the option to redeem it or continue to make it grow.

My two cents.

correct. Go for term insurance and invest your money in some investment vehicle.

@TS:

You can look and ask other insurance agents so that you can know the difference between whole life and term insurance. Murag nag shopping ka sa mga insurance company. Look for the best lang jud.

[wizard_jamex]

I have term life insurance (CocoLife - BTID). SO far, ok raman kay baratohan ra ko.

[cirext]

Life insurance is impt bro. But also there must be a source of income para mabuhi pud sila because what they get from the insurance may not be sufficient on their needs.

[Metz]

Life insurance is impt bro. But also there must be a source of income para mabuhi pud sila because what they get from the insurance may not be sufficient on their needs.

Ang ideal nga life insurance should be big enough nga mahimo siya ug income replacement.

Common kaayo nga mindset na ang 1M life insurance is really big. But in reality gamay ra kaayo na. The bigger the income the bigger the income replacement needed. For example a call center agent who has a total pay of 20k a month needs at least 2M coverage.

We are not even including house and car mortgage, but medyo complicated na.

Everyone should have at least 1M insurance, and hinay hinay na ug build up while gadako ang income aron ma achieve ang needed life insurance.

Ang advantage sa term insurance kay cheap kaayo and pwede raka mag kuha ug 1M policy ginagmay. Retail dili wholesale hehehe.

[cirext]

Aside from the insurance, maybe we could establish a good business, teach and pass it through generations.

[Metz]

Aside from the insurance, maybe we could establish a good business, teach and pass it through generations.

True sad bai. We only need insurance while accumulating enough wealth to secure our family.

Once naa na survibable wealth and naa na solid business to pass on sa mga anak, we just need enough to insure di mamroblema sa estate tax ang recipients.

if prepared na for estate taxes, then option nalang jud mag pa insure for inheritance. Although daghan sad kaayo mga rich people mag collect ug life insurance for this purpose.

that's why mas preferred jud mag term insurance or BTID kay flexible kaayo. if di na mag need ug insurance then pwede ra hunongon dayon and di maapektohan ang investments.