reviewing the qoutation proposal

[lcnolen2022]

hi good morning po im reviewing the qoutation send to me by the FA.
its CRITICAL CARE MAX
it says :

critical care max is a 10-pay, variable life insurance plan where the living and death depend on the performance of the investment in funds that earn you an account value over time.

for example my death policy is 500k
and 3 or 2yrs nakong nag huhulog and nabawasan ko ang fund and the economy is weak. is that mean if i die eh yung 500k na ma lulump sump ng family ko is not 500k? more like 300k or mas mababa pa? i thought po kasi its fix?.

and im wondering maybe ito talaga yung sinasabi nilang wag pag samahin ang insurance and investment, so im thinking maybe term life nalang kunin ko then yong investment ibuhos nalang sa pag ibig mp2 or other investments.

thank you and
good morning po have a great day

 

[mattbryan10]

@lcnolen2022 Hello, I'm an FA from Prulife It depends on the VUL you're getting. For Prulife, fixed talaga yung lunped sum since day 1 of your policy date. Pag namatay yung policy owner, the beneficiaries will receive the lump sum + whatever is left in his/her investments.

Most people will suggest not to get VUL because of the fund management fees. You pay them to invest for you. If marunong kana mag invest, I suggest ihiwalay talaga. Pero if you're still learning, you can get the VUL pang diversify nadin ng portfolio mo.

Term life is also not flexible when it comes to coverage sa benefits. Konting increase sa coverage for critical illness for example, malaki na difference sa premium. Your monthly premium is also increasing to match the inflation. Whereas sa VUL, mas flexible ka kasi ima adjust din sha sa investment allocation. And fixed for life na premium mo. In prulife, year 4 onwards, expect that all premiums you're going to pay will go to your investments. Sa first 2-3 years lang talaga nakaka commission ang agent sa policy, pero lifetime ang service hehe.

 

[snookems]

@lcnolen2022 Normally for VUL, whichever is higher between the death benefit or account value ang makukuha ng beneficiaries. But there are plans na if you withdraw, additional deduction is to be done for the final amount.

Mas okay talaga na hiwalay mo na lang yung investment and insurance, but it still varies if you have the discipline to really do regular top-ups on your investment. Term is more expensive in the long run kaya if you are around 20+ whole life is a better option.

 

[lcnolen2022]

@snookems hi im 27 yrs old,. thank you for your answer, nag dadalawang isip na po kasi ko sa vul since karamihan ng napag tatanungan ko di tlga sinasuggest ang vul waste of money daw sabi nila, i will reseaech about whole life. thank you po

 

[snookems]

@lcnolen2022 You’re welcome bro!

 

[ipl94]

@lcnolen2022 It depends din sa insurance company at insurance na kinuha mo. VUL din ang akin at may fund value and sum assured/face amount/death benefit. Pag namatay ako, both fund value and death benefit makukuha ng parents ko. Mas gusto ko sya compared sa whole life and term kasi gusto ko secured ako til age 100 and only 5 years to pay. Lahat naman sila may pros and cons. Depende talaga sa needs mo.