Iba’t ibang klase ng insurance

Ang insurance ay nagbibigay ng proteksyon sa mga panganib o emergencies—insurable event—tulad ng pagkakasakit, aksidente, sakuna, kalamidad at pagkamatay. May dalawang klase ng insurance – life at non-life.

Life insurance

Ang life insurance ay insurance na may kinalaman sa pagkamatay ng tao. Ito ay nagbibigay ng proteksyon sa pagkawala ng source of income kapag namatay ang insured.

Sa pagkamatay ng insured, makakatanggap ng benefit ang nakatalagang beneficiary. Sa makukuhang life insuranc benefit, maari itong gamiting ng beneficiary para sa mga sumusunod:

  • Panggastos sa pang-araw-araw na pangangailangan ng asawa at mga anak para hindi mabago ang kanilang lifestyle;
  • Pagbayad ng naiwang utang kung mayroon man;
  • Pampaaral sa mga anak;
  • Ipagpatuloy ang pambayad sa bahay.

Non-life insurance

Ang insurance na ito ay para protektsyon sa pagkawala o pagkasira ng mga ari-arian. Maaring personal na ari-arian o ari-arian sa negosyo ang lagyan ng proteksyon sa property insurance.

Ang mga karaniwang non-life insurance products ay car insurance, fire insurance, property insurance, theft and robbery insurance at travel insurance.

Buhay ng tao ang binibigyang ng proteksyon nng life insurance. Ari-arian namana ng sa non-life insurance.

Traditional Life Insurance

Mat tatlong klase ng traditional life insurance – term insurance, permanent insurance at endowment insurance.

Ang term insurance ay nagbibigay ng proteksyon sa loob ng isang panahon o “period”. Kapag ang period na iyon ay lumipas na, kailangan itong i-renew kung gustong ipagpatuloy ang proteksyon.

Karaniwang mas mura ng sampung beses o higit pa ang term insurance kumpara sa permanent at endowment insurance dahil wala itong cash value. Ang cash value ay ang ibibigay ng insurance company sakaling i-surrender o kakanselahin ang insurance policy.

Ang permenant insurance naman ay may cash value bukod pa sa death benefit na makukuha sa insurance. Nagbibigay din ito ng life-long o habang buhay na proteksyon basta nababayaran ang premium. May dalawang klase ito – whole life insurance at universal life insurance.

Maraming nae-enganya dahil sa “cash value” na ipiniprisinta ng mga insurance agents sa kanilang sales pitch. Sa totoo lang, mas ok pang mag-save o mag-invest ka separately dahil mas mataas ang kikitain mo kaysa sa cash value.

Ang pinagkaiba ang whole life insurance sa universal life insurance ay sa flexibility. Consistent (pare-pareho o pantay-pantay) ang premium sa whole samantalang flexible o maaaring iba-iba naman sa universal.

Ang endowment life insurance naman ay may cash value pero mas maiksi ang pagbabayad ng premium kumpara sa permanent insurance. Karaniwang binabayaran ito sa loob ng 5-20 taon. Makukuha ang mga nakasaad na benefits kapag namatay ang insured o naabot niya ang edad na nakasaad sa insurance policy.

Investment-linked insurance

Ang Variable Universal Life (VUL) insurance ay insurance na may kasamang investment. May kasama itong “fund value” kung saan ang nakalagak ang investment portion ng VUL.

Isa sa mga dahilan dahil mahal ang VUL ay sa napakaraming charges nito lalung-lalo na sa mga unang taon ng policy. Ito ay ang mga premium charge, insurance charge, policy fee, annual management fee at maaring mayroon pang iba.

Term insurance is best

Ang pinakamagandang startegy sa pagbili ng insurance ay ang tinatawag na Buy Term and Invest the Difference (BTID).

Sa ganitong paraan hindi magbabayad ng maraming charges at hindi rin magsisimula sa 0 ang iyong fund value na karaniwan sa mga VUL. Mas mataas din ang kikitain kung magi-invest kumpara sa cash value na mabibigay ng permanent life insurance at endowment life insurance.

vincerapisura.com


9 Comments

  • Thequenn says:

    Gud pm sir vince..last week i had a little convey on axa insurance.i chose to be explained with health and academix it is quite expensive for academix and its a long term while health is for 5 years with amort.of 2629 monthly and if nothing happens to you after five years you”ll get the premium of 1m..is this true? Alin po ba ang dapat kunin ko na insurance?please help NALILITO na po..

  • Wapak says:

    Hello.

    Advantages of VUL:
    1. Your family will get the death benefit if something happens.
    2. Your money is placed in the mutual funds, therefore, your money will grow over time which you can use when you live too long.
    3. If used properly, it can give you tax advantages which will never be given by Term Insurance
    4. Once covered, you are covered all the way (until age 100)
    5. designed for long term

    Disadvantages of VUL:
    1. charges. there are charges but not as many as you think. charges diminish over time. usually within 5 years. after that, your whole premium goes to the investment, and the investment will be paying the cost of insurance
    2. seemingly high premiums

    Advantages of Term Insurance:
    1. “Low” premium
    2. instant boost on Insurance coverage (ex. used as MRI when getting a house loan)
    3. cannot be used for long term

    Disadvantages of Term Insurance
    1. You are only covered for a certain amount of time. That’s why it is called Term Insurance
    2. Term Insurance may appear cheaper than VULs. But if you’ll look closely, there is no value for money in Term Insurance. If you live longer than the coverage given to you by your Term Insurance, you are practically throwing away your money.
    3. if your Term Insurance expires, there is no guarantee you can get another Term Insurance that easily. Or probably you won’t
    4.if you live longer than your Term Insurance,
    It means that your assets (houses, cars, cash in the bank, cssh investments, etc.) will be exposed to estate taxes once you die.

  • Rowena says:

    VUL pala ung BPI Philam kasi investment + life insurance pero gusto ko na sana ung may kasamang health insurance e kaso ang sinasaggest dito is BITD. Di ko pa sia magets. May direct article po ba na mas may in depth explanation about BITD? Thanks.

  • animegeek20 says:

    Hello Sir Vince! I am 25 years old po and plan ko po kumuha next year ng Kaiser Ultimate Health Builder Investment Plan HMO + LIFE INSURANCE + INVESTMENT, payable for 20 years plan, meaning 7 years mag-iinvest and 13 years of waiting for the Maturity. Policy fee is 500 per year for 7 years while the monthly starts at 2647 monthly contract po. Is this a good investment po?

  • Conrad says:

    Hindi nagsisimula sa 0 pag kumuha ka ng vul. Vul and btid are good there is no right or wrong answer in this method. Tama ka sa charges ng vul but sa term lahat ng binayad mo un na mismo ang charge so its all the same. You can go term insurance if its just a short term goal. Coz you will be paying your premium whole life. The point here there is no right or wrong answer on this one. Even other financial gurus doesnt really suggest one over the other. May mga pros and cons ang bawat produkto. Fyi.

  • Robert Cabebe says:

    Sir Vinz bigyan mo naman ako ng idea tungkol sa BTID, nagpaplano kasi kami ng asawa ko na kumuha ng vul, pero nabasa ko post mo about BTID,gusto ko pag aralan muna ng mabuti bago mag apply. Salamat

  • Belen Mancia says:

    Sir Vince yung offer ba ng BPI Philam insurance payable for five years after 10 years puwede iwithdraw or keep it on the bank as insurance protection incase you get sick para free form hospitalization and as investment too.

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