Monthly Archives: October 2018

Protect Your Familyh

What’s the best protection for your baby?

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?

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