Originally Posted by
makie
From what I know, Kaiser and Cocolife are offering very lucrative health and life insurances. Both are ideal for investments.
Kaiser is a long term health care plan. Bayad lang ka for five years for the premium and after 10 more years, you have the option to redeem a lumpsum of your investment, just a part of it, or let it grow further. So how does it work? After 5 years of paying the premium, assuming you weren't able to use your policy, your policy will compound 10% annually depending on the plan.
So for example you got a policy worth P100,000 of face value, 10% of P100,000 will compound from the first year thereon. So at the first year, P10,000 + P1,000 then on the second year, it's going to be P11,000 + P1,100 until the 10th year.
Other than that, if you haven't used the policy for the whole 15 years, part of the lumpsum that you could take is the benefits. All in all, for a plan worth P100,000 of face value, you could get more than P500,000 after 15 years. If you decide to let it grow further, that P500,000 will continue to compound by 10% annually.
Cocolife offers BTID which is a bundle of life insurance and an investment. Out of the premium that you paid, part of it will be going to mutual funds (United Fund) and part of it will be going to life insurance which will cover you for a face amount depending on the premium. Bayad lang ka for 5 years then after 5 years, your investment (mutual funds) will be taking care of your life insurance meaning, after 5 years, di na ka magbayad ug life insurance but rather your investment is taking care of it.
What's so good about BTID? Mutual funds could give returns for as high as 50% annually. Kung long term ang tan-awn, it's very promising. Imagine putting in say P30,000 annually in mutual funds for 5 years, it's more than P200,000 after 5 years. For the computation, it's like this:
Year 1 - P30,000 + P15,000 (50% return)
Year 2 - P45,000 + P24,500 (50% return)
Year 3 - P69,500 + P34,250 (50% return)
Year 4 - P104,750 + P52,375 (50% return)
Year 5 - P157,025 + P78,512.50 (50% return)
Total after 5 years = P235,537.50
*50% is just a superficial amount. MFs could go higher or lower than that,
In BTID, you get covered depending on the face amount and at the same time, you get an investment.
So far, those two ang akong ganahan. As far as pros and cons are concerned, mao ni akong nakita:
Pros:
1.) Long term, these are really great investments. Dako gyud kaayo ug tubo because of compounding
Cons:
1.) Tax issues. The greater the amount, the higher the tax
2.) Risk. All kinds of risk, sickness, disability, or the status of the company