is life insurance a good investment?

[bro_z]

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hey any advice out there on whether or not i should stop paying for my life insurance? 3 yrs paid na and i 17 yrs more to go. waaah! murag di nako matake na dugay pa kau ko magbayad ani. dako man gud ang annual. P21k.toink! i heard na pwede daw mabaligya ang insurance sa lain if u want to stop na. true for all insurance plans? i guess i would need to reread through my insurance docs (pero libog man usahay gud). plus di daw good investment ang insurance....... anybody got their two cents worth of input out there?

[Gabriel]

I bought insurance for my family's protection in case something happened to me. Life insurance policies designed for this purpose typically have very low yields. The flipside is that premiums are quite low. Policies with savings buildup capabilities have higher returns but have very high premiums. All this is with all other factors constant.

If you are clear for what purpose you bought insurance for then I think you can make a more informed decision.

[kamikaze426]

20 yrs of payment is too long, i got mine 5 yrs payment ra...

[aikea guinea]

Some life insurance plans are transferrable so you can sell them to other people others are not i suggest you check your policy contract or the agent that sold you your insurance. Mine is also a 5 year term payment and pension wherein i receive money on the 10th year after paying the premiums for 5 years.

[gnrx69]

bai what kind of insurance does 5 years to pay
im planning to have one but not 20 years or 10, 5 years is the smallest one i've heard so far.

[DebutsAndIDos]

Hi, gnrx69!
What do you need your insurance for? Is your priority saving for your future or protecting your family?

[DebutsAndIDos]

Bro_z, 21k for 20 years seems like a big amount to pay. This must be either a very nice plan or you got scammed, bro.
Anyway, aside from event planning, I'm also a financial planner. (Can't help it. I'm OC. I like to plan. It helps me feel I'm in control of my life.) If you need help reading through your contract or getting a better plan, just PM me. =)

[bro_z]

it is a big amount to pay isn't it? i know,i know..... i think i'm gonna give my insurance agent a call...... tnx guys.

[DebutsAndIDos]

Why contact the same person who gave you that kind of deal? Hmmm...
Anyway, if you need a second opinion, PM me your contact number.

[philjason]

For Bro_z: Don't stop paying. You will reap the benefits of your investment in due time. Ask your agent if:
1. Your insurance package offers dividends;
2. If you can offset your dividents from your premiums, just to cut down your annual expense.
Let the dividends pay for the premiums that way wala ka na cash out.
Re: how much insurance to get? It really depends on your needs. If you have a big family that will be displaced if something happens to you then get higher insurance. If you're single, get one with a retirement plan so you can enjoy what you've put in WHILE YOU'RE STILL ALIVE! If insurance high premiums really bother you but you feel you still need protection then get Term insurance. These are good for one year only, no endowments and very cheap. As in... meron tag 50 pesos lang.