Opening "VUL Insurance" tru BPI-PHILAM Life
BPI-Philam LIfe "VUL Insurance"
This is to share you guys how I started my insurance tru BPI-Philam LIfe.
Since, I have read a lot of blogs regarding financial freedom, one that is commonly asked and advised from financial advisors is to get first an insurance before anything else. Well, that's true, kung titignan mo naman kasi how the insurance works, you will get amazed!
There are a lot of insurances offered nowadays. Now the Insurance company are offering a wide range of benefits not only for the death but for the living as well. So, to sum up as long as you live you are insured and you may used this benefits until you are on your golden age. Parang ito na yung retirement plan mo just like the SSS. This is pretty good especially sa mga OFW's kagaya ko. We are working abroad and we have to prepare ourselves of coming back home as early as we can. Start to set asides some of our earnings into proper investments so if time comes our money will work for us! Cheers to that!
To start how I opened my insurance. I went to BPI bank to open a savings account. The start up deposit was 1000.00 only. I remember, I am in hurry that time coz I'm travelling to Manila the next morning. Then, upon handling them all my proper identifications and waiting for the papers to sign up, I asked the friendly staff about their available products for investments. Then, she ask me to talked to the insurance agent. Of course I told her YEs. Then the agent came and talked about the products. If you don't have any knowledge about investing, you will not understand fully how it works believe me hahahhahaha. He talked about the Philam-Life, sounds interesting! You have to choose 5-10 years plan. Payment is monthly, quarterly, and Annually. Insurance is likely pricey than any other investments. I told to the agent that I wanted to invest right after he discussed the pros and cons of the insurance. I decided to invest tru Balanced fund coz I have already my mutual fund that is being invested in Equities. Before anything else the agent will give you an assessment if you are qualified to invest to any funds that they offer. After my initial assessment, I am qualified to invest in equities but I prefered the Balanced Fund which is being invested in stocks and bonds. I told the agent that when I come back to Kuwait, I will start my quarterly payment. The agent is very friendly and ask me to just sign all the documents and he will send proposals to their office and just wait for the approval. He send me all the details of the insurance for me to read, Sa totoo lang nagmamadali ako that time kaya sabi ko send all the details para basahin ko na lang hahhahaha.. But I'm 101% sure na mag start na for my Insurance.
So here, I'm back in Kuwait last December 2015. After a month, Message ako agad sa agent how to fund the insurance. Since meron na akong account sa BPI doon na lang nila ikaltas ung payment ko every 3 months. To sum up my quarterly payment is P13, 620.00, A total of P54,480.00 for 5 years. Also, after paying my first premium, they send me my policy contract. Kaya sobrang happy ako nung na received ko siya.
By the way, You can top up also monthly if you want to. As per rule, there is no guarantee for the return of any investment, but If you keep it for long term of course you will have high returns. Long term means 20-30 years. That's why I'm keeping this as my Retirement plan! Cheers!
It's already One year on January 2017. And Yes, I made it. Another 4 years more. Fully paid na ako.
Here is the proposal of my Insurance:f
This is to share you guys how I started my insurance tru BPI-Philam LIfe.
Since, I have read a lot of blogs regarding financial freedom, one that is commonly asked and advised from financial advisors is to get first an insurance before anything else. Well, that's true, kung titignan mo naman kasi how the insurance works, you will get amazed!
There are a lot of insurances offered nowadays. Now the Insurance company are offering a wide range of benefits not only for the death but for the living as well. So, to sum up as long as you live you are insured and you may used this benefits until you are on your golden age. Parang ito na yung retirement plan mo just like the SSS. This is pretty good especially sa mga OFW's kagaya ko. We are working abroad and we have to prepare ourselves of coming back home as early as we can. Start to set asides some of our earnings into proper investments so if time comes our money will work for us! Cheers to that!
To start how I opened my insurance. I went to BPI bank to open a savings account. The start up deposit was 1000.00 only. I remember, I am in hurry that time coz I'm travelling to Manila the next morning. Then, upon handling them all my proper identifications and waiting for the papers to sign up, I asked the friendly staff about their available products for investments. Then, she ask me to talked to the insurance agent. Of course I told her YEs. Then the agent came and talked about the products. If you don't have any knowledge about investing, you will not understand fully how it works believe me hahahhahaha. He talked about the Philam-Life, sounds interesting! You have to choose 5-10 years plan. Payment is monthly, quarterly, and Annually. Insurance is likely pricey than any other investments. I told to the agent that I wanted to invest right after he discussed the pros and cons of the insurance. I decided to invest tru Balanced fund coz I have already my mutual fund that is being invested in Equities. Before anything else the agent will give you an assessment if you are qualified to invest to any funds that they offer. After my initial assessment, I am qualified to invest in equities but I prefered the Balanced Fund which is being invested in stocks and bonds. I told the agent that when I come back to Kuwait, I will start my quarterly payment. The agent is very friendly and ask me to just sign all the documents and he will send proposals to their office and just wait for the approval. He send me all the details of the insurance for me to read, Sa totoo lang nagmamadali ako that time kaya sabi ko send all the details para basahin ko na lang hahhahaha.. But I'm 101% sure na mag start na for my Insurance.
So here, I'm back in Kuwait last December 2015. After a month, Message ako agad sa agent how to fund the insurance. Since meron na akong account sa BPI doon na lang nila ikaltas ung payment ko every 3 months. To sum up my quarterly payment is P13, 620.00, A total of P54,480.00 for 5 years. Also, after paying my first premium, they send me my policy contract. Kaya sobrang happy ako nung na received ko siya.
By the way, You can top up also monthly if you want to. As per rule, there is no guarantee for the return of any investment, but If you keep it for long term of course you will have high returns. Long term means 20-30 years. That's why I'm keeping this as my Retirement plan! Cheers!
It's already One year on January 2017. And Yes, I made it. Another 4 years more. Fully paid na ako.
Here is the proposal of my Insurance:f
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