Life Insurance - your thoughts?

[Echelnalf]

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Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary.

Source: https://www.bir.gov.ph/index.php/tax...state-tax.html

*Click the BIR link above... everything you need to know about Estate Tax in the Philippines is there.

Sa laktod na pagka sturya, daghan obligasyon ang nabinlan. Eheheheh Bitaw, gamit kaAyo na ang life insurance para sa expenses sa mabinlan.

[Mr.Brights1de]

Life insurance is a must if you're still on the process of building your wealth. You must have a protection first specially when you have dependents to protect yourself from life's uncertainties.

[H.Wolowitz]

kuha na ts samtang bata pa ka.. hehe

[lorenzoleo]

Yes, life insurance can be used for estate tax payments but it is not enough because what if the person died has 100M asset, example the heirs needs 20M to pay but for 20M coverage it cost a lot.

If you want lesser cost on insurance, go for Term Insurance. There is a Term that cost only around Php 3k+ for a 30 year old for a 1M faceamount.

There is another solution, by creating an estate corporation.

[tartimorion]

Yes, life insurance can be used for estate tax payments but it is not enough because what if the person died has 100M asset, example the heirs needs 20M to pay but for 20M coverage it cost a lot.

If you want lesser cost on insurance, go for Term Insurance. There is a Term that cost only around Php 3k+ for a 30 year old for a 1M faceamount.

There is another solution, by creating an estate corporation.

Maayo na lang kay mga timawa ta sobeneficial kaayo sa atoa ang insurance

[op2nd]

If you want lesser cost on insurance, go for Term Insurance. There is a Term that cost only around Php 3k+ for a 30 year old for a 1M faceamount.

There is another solution, by creating an estate corporation.

Depende sa Premium sa Insurance company.

If ang 3k premium = 1M Life
Sauban 1,200+ premium = 3M life

1,214.10 (exact amt.) VS 3k
3M vs 1M


Sa ako computation mas mahal mopalit ug term.

Sample computation:
@ 30 yrs old
3M Life coverage

TERM, up to age 70
total pay until age 70 = 1,483,500
@Age 70 = no cash value
3M coverage flat

VUL, age 30, 3M coverage
total pay for 10yrs = 1,128,300
@age 70 cash value = 24,841,376 (potential)
if increasing + 3M sa cash value

[RayGunz]

Life insurance definitely needs your life = patay kang bata ka

Sakto ba?

[wildtrax23]

Depende sa Premium sa Insurance company.

If ang 3k premium = 1M Life
Sauban 1,200+ premium = 3M life

1,214.10 (exact amt.) VS 3k
3M vs 1M


Sa ako computation mas mahal mopalit ug term.

Sample computation:
@ 30 yrs old
3M Life coverage

TERM, up to age 70
total pay until age 70 = 1,483,500
@Age 70 = no cash value
3M coverage flat

VUL, age 30, 3M coverage
total pay for 10yrs = 1,128,300
@age 70 cash value = 24,841,376 (potential)
if increasing + 3M sa cash value

I think wrong comparison ni sir