Best VUL policy?

[rmayer32]

Hi everyone!

I would like to ask if anong VUL works fine with you? I know may negative opinions about VULs so gusto ko rin makita if ano yung positive benefits na naibibigay nya sa mga nag-avail. Thank you everyone!

 

[question123]

@rmayer32 Following this post to be updated if may makapagbigay ng "positive benefits" na wala sa whole life or term insurance. As someone na nag-try maging insurance agent few years ago, napakaraming cons over pros ng VUL talaga.

Eto naging principle ko mula nung nalaman ko component ng VUL:

• Never mix your insurance and your investments.
• It is always that I must have the control over my investments, not by other people unless I know that I trusted them to invest it properly for me and not to "sustain" the insurance policy which is di naman talaga nangyayari dahil sa laki ng premiums at laki ng management fees ng investment funds portion ng VUL policy mo.

Main cons:

• Unlike whole life insurance, mas mahal pa rin ang VUL if i-ko-compare mo ang premiums over insurance coverage amount
• Kasama sa principles ko, gusto ko ako may control ng investments ko. Ang taas ng 2% na singil nila when nag-iinvest lang naman sila sa components ng PSEi. Ano bang mahirap dun at kailangan nilang maningil ng mataas na management fees? Simple comparison lang, investing in FMETF vs VUL. 0.50% ang management fees ng FMETF while 2.00% ang sa VUL. Imagine that? 1.50% ang annual savings mo if diniretso mo na sana sa stocks ang investment mo imbis na idaan sa investment funds. Pwedeng buong 2.00% annual management fee pa yan kung ikaw mismo mag-manage ang mag-track ng PSEi which is feasbile naman given na kaya siyang gawin with 2-3 million PHP of funds.
• Reiterating... mataas ang fees. Refer to previous paragraph.
• Kadalaasan walang incentives tulad ng sa whole life at endowment.
• Yung shortened payment nila, false marketing. Unless the returns of your investment fund can sustain your insurance premiums, mamamatay talaga lagi ang policy mo if di ka ina-update ng agent mo.
• Basically, whole life insurance din ang VUL with higher insurance premiums nga lang.

 

[rmayer32]

@question123 Thank you po for replying! Actually, I just had a conversation with my colleagues (work) and sabi din nila na ang daming means na para ma-invest ko yung pera ko on my own (MP2, PSEi, mutual funds, etc.). Will take this comment on my mind. I am considering in buying a term/whole life insurance na lang. Salamat ulit!

 

[shiningbrightly318]

@rmayer32 Madami naman term health insurance like Sun LifeAssure, Maiden or Maiden Plus. This is best paired with HMO (better kung may HMO from company benefit). I'm doc Ai from Sun Life Please do message me for free quotation.