Lets talk about the importance of Life Insurance

[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.

If they can't afford Limited whole Life why would you push for Term and Investment Product? Why not let them buy Term only if you purpose is to protect your client from financial crisis in case of sudden death?

I remember with Investment link whole Life insurance cost only 30k to 40k a year for 30 year old male with a 1 million coverage.

[JamesCo]

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?

I am not pushing anyone to buy whole life. I am just showing what they get if this buy term compare to Limited Whole Life.

Its not only AXA all Life insurance company offer Limited Whole Life.

[JamesCo]

I got my Limited Whole Life Policy from Fil-Am and Sunlife. Investment in Prulife and AXA

[lorenzoleo]

Good, if your client gusto mu kuha kung unsa iyang gusto, ayaw lang pud ninyo i push something na dili niya ganahan. Mao pud na ang insurance company kay madaot pud ang ngalan kay ang uban pud agents dili ta tarungun ug explain, ug dili tarunung ug hatag ug service sa ilang clients. Cge ko ug basa2x ug mga Financial Books, ug mu attend ug mga lectures sa mga RFP, mao ng Term Insurance jud ako gi pangita, unya baligyaan man hinuon tag Whole Life ug or some endowment.

[lorenzoleo]

Even Mr. Colayco Suggested Term Insurance YouTube - Commandment #4: Protect your greatest asset: Yourself for personal financial program

Dave Ramsey on Life Insurance YouTube - Dave Ramsey Life Insurance Explained - Slams Whole Life
Suze Orman on Life Insurance YouTube - Suze Orman on Cash Value Life Insurance vs. Term Life Insurance

I think these are credible people that I have read from there books. That is why I also get educated my self with IMG because tagaan ta nila ug opitons pud kung unsay pinaka maayo nga protection. Kung offeran ko nimu ug Term Insurance karon dayon, dili ko mag duha2x ug kuha.

All of them have common ideas and same ideas.

[lorenzoleo]

Ganahan jud ko anang Suze Orman kay prangka jud.
Rememeber this question, is it for clients benefit? or just for the sake of the commission of the agent?

[Metz]

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.

What you fail to see whenever we discuss BTID, is that we include this with investments. If ang client di kaayo kwartahan then we offer term insurance for the mean time samtang wala pa kaayo siya money but if naa they should buy BTID and not whole life.

Please stop saying that we dont care about the client, go look at other whole life insurance agents(I'm not saying all of them are bad).

If we didn't care, we would push whole life to everyone even if they cant afford it. Kay kung dako nga commission amo giapas whole life jud amo ipromote. And dinhi usually magsugod ang bad rep sa mga agents kay they do everything to sell and make quota.

Thank you for posting your proposal bai.
Now I made a proposal in BTID compared to the 45k you payed for in whole life.
on the first year, your policy has no cash value, while my client has 39k.
@age 52(ORANGE BOXES),the policy holder is guaranteed 1M, if my client dies, he gets 1.9M.
@age 52(RED BOXES), the policy holder gets 240k in savings, mine gets 944k

the amount is still small, so my client will renew his term insurance with 944k for another 20 years.
No additional requirements required, even medical check-up.

@age 70(GREEN BOXES) the policy holder is guaranteed 400k YEY!,

MY CLIENT GETS 5.5M in savings or 6.5M IF HE DIES! and these are very conservative estimates.

do you still think we dont care about our clients?

if you still think Whole life is better than BTID after this, then you're no longer following the purpose of your thread. Which is to help people decide on which life insurance they should get.

click the image for a clearer view.

By null at 2010-11-28

[lorenzoleo]

Even Mr. Colayco Suggested Term Insurance YouTube - Commandment #4: Protect your greatest asset: Yourself for personal financial program

Dave Ramsey on Life Insurance YouTube - Dave Ramsey Life Insurance Explained - Slams Whole Life
Suze Orman on Life Insurance YouTube - Suze Orman on Cash Value Life Insurance vs. Term Life Insurance

I'm totally convinced na to switch on to Term Insurance then invest the difference myself.

Arthur L. Williams, Jr. - Wikipedia, the free encyclopedia. . <-- Without this guy, Term Insurance wasn't announce to the U.S. public long time ago. T_T! And he is an Insurance Executive Billionaire. And I believe that, during that time, Traditional Insurance companies in the U.S. are not happy about Art Williams crusade. T_T!

This was about 40 years ago. Every citizen in the U.S already knows about Term Insurance, but in the Philippines, alot of work to be done and to educate people the right kind of protection and investments. Philippines is 30 years behind U.S. T_T!

If you also talk directly to an RFP(Registered Financial Planner of the Philippines), they also advice you to buy Term insurance. They advice me to study first their agents and the company.

[lorenzoleo]

By null at 2010-11-28

Sakto noh, ang sa Whole Life 1M ra and makuha, dili makuha ang savings component.
ang BTID, 1M na face amount, ug katong projected na redepmtion cash from the Mutual Funds, at least mabalik ra pud ang cash, bahala na dili guarantee ang ROI kay I admit mu fluctuate man jud na ang Market(Pero kung long term, mu bawi jud ang MF), basta naa pud makuha aside from the 1M na face amount.
BTID - You don't have to loan your own money, you only need to redeem your investments.

[wizard_jamex]

Mas nindot jud ang BTID kaysa other type of insurances. HAHAHAHAHAHAHAHA....
No one can beat BTID......