Category Archives: Insurance

Grow your money! Plant Early!

Ano ang mararating ng PhP 20,000 mo?

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Kung sa nakaraan walang nangyari sa 13th at 14th month pay mo, maaring may magawa ka ngayong taon.

Halimbawa, naitanong mo na ba kung ano ang mararating ng ₱20,000 mo?

Sa isang ₱20k, maaari kang bumili ng tatlo hanggang apat na taon na life insurance na P1m pesos kung age 35 and below ka. Kung kunin ka ni Lord ng maaga, ang mga mahal mo sa buhay ay makakakuha ng ₱1 milyon para kapalit ng kita mo.

Sa isang ₱20k, maaari kang magsimula ng iyong long term healthcare, at mag-bayad ng semi-annual premium (o premium para sa kalahating taon). May sukli pa na pang open ng mutual fund investment account.

Sa isang ₱20k, maaari ka ring mag-invest sa equity mutual funds, na may compounded annual growth rate na 12%. Sa ganitong assumption, ito ay magiging:

  • ₱40k after 6 years
  • ₱80k after 12 years
  • ₱160k after 18 years
  • ₱320k after 24 years
  • ₱640k after 30 years
  • ₱1,280,000 after 36 years
  • ₱2,560,000 after 42 years

Isang ₱20,000 lang iyan!

Kung ₱20k/year for 5 years, starting at age 30
Maaring makakuha ka ng life insurance na ₱1 milyon hanggang 65 years old ka.
Maaring may mutual fund ka na worth ₱2.4 million kapag 60 years old ka na.

Kung ₱20k/year for 30 years:
Maaring kang mag-Buy Term-Invest-the-Difference strategy, combining term insurance and mutual fund investing at 12% CAGR, para insured ka ng worth ₱1 million hanggang age 60 AT may investment na worth ₱2.5 million pag 60 ka na, o ₱4 million kapag 65 ka na!

The earlier you start, the better!

Paano ba makapagsimula?
Maari tayong magusap sa Facebook sa Ask the Money Coach

Usap lang tayo.

Bobet
The Money Coach

Protect Your Familyh

What’s the best protection for your baby?

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What’s the best protection for your baby?

When your baby arrives, you begin thinking of your child’s future.

Many begin by opening a bank account for the child, promising to oneself to set aside money every month for the child’s future.  But realistically, with today’s low savings account interest rates of 0.2% effective rate ( after witholding tax), a thousand pesos per month is expected to grow to only ₱245,000 after 20 years ( or total interest of ₱5,000 after 20 years )

The best protection for your child is a combination of equity mutual funds in-trust-for (ITF) your baby, plus term life insurance for the breadwinner with your baby as beneficiary.

If we set up an equity  mutual fund, in-trust-for  your baby, assume 12% growth and invest ₱1,000 per month, we get these projected values:

  • ₱1m to ₱2.3m after 20 years, or
  • ₱3.5m to ₱14m after 30 years or
  • ₱12m to ₱86m after 40 years!

This investment can probably suffice to fund your baby’s college tuition after 18 years, or jumpstart family life on marriage after 30 years, or provide retirement as early as 40 years!

This is a great plan, but we know that what actually happens do not always match our plan.  What if you die too soon?

If the breadwinner is 31 years old or younger.  ₱500 per month can buy ₱1m of life insurance coverage for 18 years.

This means that if the Lord takes you, the breadwinner, home early, and you die too soon in the next 18 years, you can leave ₱1,000,000 for your baby as a parting gift.

With this combination, you protect your baby’s future whether you die too soon, or live long enough to see your child grow!

This solution requires only ₱1,500 a month or about ₱50 per day.
Can you commit ₱50 per day for each of your children?

Ask your questions or put your comments below this.

Life Insurance for OFWs Abroad

Paano makakakuha ng Life Insurance ang Overseas Filipinos?

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Paano makakakuha ng life insurance ang mga Filipinos na nasa abroad?
Ang sagot — group life insurance, kagaya ng kasamang benefit sa Kaiser Ultimate Health  Builder!

May nagtanong sa akin:

I am an OFW. May question ako about sa Kaiser since healthcare product po siya with insurance.

I’ve read kasi na if kukuha ka ng insurance dapat nasa Pilipinas ka. What if kumuha ako ng Kaiser dito sa abroad and since may insurance siya kasama magiging invalid po ba iyon ?

Ang sagot ko:

Valid ang insurance na kasama ng Kaiser.

Ang bawal kasi ay ang pagpirma ng insurance policy outside the Philippines. Ang bundled na insurance na kasama ng Kaiser long-term-care plan ay group policy na napirmahan sa Pilipinas ng Kaiser.

Kapag kumuha ka ng Kaiser plan, i-enroll ka lang automatically under the group, kaya valid ang life insurance mo. At dahil group plan iyon, kasama ka sa lahat ng insurance benefits:

  • basic life insurance
  • accidental death and dismemberment
  • waiver of premiums on death
  • waiver of premiums on permanent and total disability

Yung waiver on death, ang ibig sabihin, kung ikaw ay kunin ni Lord ng maaga, ang Kaiser plan mo ay magiging fully paid. Ang matatanggap ng beneficiary mo ay ang buong insurance proceeds, at ang iyong fully paid na Kaiser plan.

Idagdag ko lang:
Halimbawa ang isang 50 year old, kumuha ng recommended na Kaiser K100 plan, may kasama iyon na life insurance coverage na ₱450,000.

Kung ang planholder ay kinuha ni Lord (after 2 year contestability period) ng natural causes, makakakuha ang beneficiary ng ₱450k.

Kung accidental death, ₱900k

Kung ang death ay habang nag-babayad ( halimbawa, dalawang buwan pa lang nagbabayad) ang plan ay magiging fully paid, at ma-i-inherit din ng beneficiary. On the 20th year, may projected maturity value ito na up to ₱1,166,168 kung walang health benefits na ini-avail.

Ang validity ng group insurance abroad ay para sa lahat ng group insurance, hind lang sa Kaiser.

Kung may company group insurance, pwede kang-i-enrol ng company para ma-cover ka. Kung kasali ka sa cooperative o association na may group life insurance, pwede ka ring i-enrol.

Mayroon kang tanong? Mayroon kang comments?
Ilagay lang sa ilalim. O sumulat kay Coach Bobet & Mary Ann, via email, o Facebook messenger