11/12/2023
Life Insurance (Traditional vs Variable/VUL)
Just want to share awareness about the difference between Traditional and Variable Unit-Linked Life (VUL) Insurance
"Kuha ka na lang insurance, pare-pareho lang naman 'yan."
Tapos nung after a while, di pala fully gusto 'yung plan, di pala kelangan, sayang ang bayad.
Tapos dyan na lilitaw 'yung "na-scam ako", "scam yang insurance."
So ito, try natin introduce. Educate ba.
Life insurance lang po itong nasa picture.
Wala pa dyan mga pre-need, health, HMO, philhealth, etc.
Ang life insurance po ay naglalaman yan ng mga benepisyo na matatanggap ng kliyente kapag may nangyari sa buhay nila na life uncertainties.
Such as:
Core benefit- Death
Riders (additional benefits added)
- critical illness
- disability
- accidental
- hospital confinement
Ngayon, kung gusto mo na kumuha, it comes in different forms.
Meron tayong ๐ง๐ฅ๐๐๐๐ง๐๐ข๐ก๐๐ vs ๐ฉ๐๐ฅ๐๐๐๐๐.
๐๐ซ๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ - Insurance lang**
๐๐๐ซ๐ข๐๐๐ฅ๐ - Insurance at Investment
** Later kasi may ma-encounter kayo na Cash Value, hindi po 'yun Investment na exactly same sa Investment component ng Variable plans.
So sa Variable muna tayo. Mas mabilis yan maexplain. Variable Unit-Linked or VUL ay 2-in-1 plan. May insurance ka tapos may iniinvest rin sa chosen fund mo, later on pwede lumago o bumaba ang value, pwede mo rin ma-withdraw.
Kung gusto mo naman, Insurance lang, Traditional yan!
Sa traditional, merong ๐ง๐๐ ๐ฃ๐ข๐ฅ๐๐ฅ๐ฌ (term insurances) at merong ๐ฃ๐๐ฅ๐ ๐๐ก๐๐ก๐ง (whole life or endowment)
Si ๐๐๐ซ๐ฆ ๐๐ง๐ฌ๐ฎ๐ซ๐๐ง๐๐ muna. Sobrang dali nito intindihin. Purong insurance yan (ikaw bahala kung ano laman, death ba or may mga rider pa)
Covered ka for a specific term. Depende sa plan. Merong 5 yrs or 10 yrs.
Renewable rin 'yan. Basta magbayad ka ng insurance hanggat gusto mong macover. If ayaw mo na magbayad, di ka na covered. Tumataas premium nyan every 5 years.
Sa Permanent naman tayo, ๐๐ก๐จ๐ฅ๐ ๐๐ข๐๐ or ๐๐ง๐๐จ๐ฐ๐ฆ๐๐ง๐ญ, halos pareho yan. Ang premiums nito, fixed per year unlike sa term insurance. Sila yung Insurance PERO may Cash Value and Dividends. So para syang Term Insurance na may pa-special effects.
๐๐ข๐ฏ๐ข๐๐๐ง๐๐ฌ - ito yung NON-GUARANTEED na binibigay sayong bonus on top ng insurance mo, pwede mo tong withdrawhin or hayaan lang lumago. Bonus ito beh!
๐๐๐ฌ๐ก ๐๐๐ฅ๐ฎ๐ or ๐๐ฎ๐ซ๐ซ๐๐ง๐๐๐ซ ๐๐๐ฅ๐ฎ๐ - Ito yung pakulo na "pag ayaw mo na, may mababalik pa naman sayo kahit papano." Yan yun! Pag umayaw ka na, surrender na, may babalik sayo na pera. Pero di ka na insured ha.
So ano pinagkaiba ng ๐๐ก๐จ๐ฅ๐ ๐๐ข๐๐ at ๐๐ง๐๐จ๐ฐ๐ฆ๐๐ง๐ญ?
๐๐ก๐จ๐ฅ๐ ๐๐ข๐๐ - buong buhay. Hanggang 100 years old usually yan ang maturity. Meaning iinsure ka hanggang 100.
๐๐ง๐๐จ๐ฐ๐ฆ๐๐ง๐ญ - ito yung naririnig nyong every year or every 2 years may marereceive ka. Bonus guaranteed payout pedeng lumago hanggang 100 yrs old.
Ganun!
Yung mga types na lang nyan under, more on payment terms lang yan.
Regular or ๐๐ข๐ฆ๐ข๐ญ๐๐ ๐๐๐ฒ.
Regular ๐๐ก๐จ๐ฅ๐ ๐๐ข๐๐ - insured hanggang 100 years old, bayad ka hanggang 100 yrs old.
๐๐ข๐ฆ๐ข๐ญ๐๐ ๐๐๐ฒ ๐๐ก๐จ๐ฅ๐ ๐๐ข๐๐ - insured hanggang 100 yrs old, bayad ka limited term like 10 yrs lang kung trip mo. โค๏ธ Note: May bagong labas na policy si Sun Life ngayon. Sun Legacy. LIMITED PAY 1,2, or 5 years. WHOLE LIFE YON โค๏ธ
Oh sya, mahaba na to. Di yan saktong sakto pero big picture lang 'yan. Syempre marami pang terms and conditions sa bawat kontrata.
Save mo na lang 'to for future reference kung nais mo.
Wala akong sasabihin kung anong maganda dyan kase walang ganun! Depende yan sa maraming factor.
Investment goal, investment risk profile, specific needs for insurance benefits, age, work, health conditions, source of income, etc.
Hindi tayo Anti-VUL.
Hindi tayo Anti-Trad.
Pro-client tayo.
Kayo ang masusunod. Tandaan
*Thanks UM Cindy!๐ซถ๐ผ
