The PHP 9.6 Million insurance coverage is more sensible than getting the Php 100k payout every year!

This is one of the realization of my client after getting a plan with guaranteed payouts.

If ikaw ba?  Ano mas prefer mo?  Php 100k payout or Php 9.6 Million insurance coverage?

Usually, sa start, gusto natin payouts!  Money back!  But when my client looked at the bigger picture, what matters most really is protecting her family from life’s risks.

If this happens, no one will take care of her 2 kids, ages 4 y/o and 6 y/o.

The time her youngest child hits 20, she’d be at age 56 and it’s a fact that as we get closer to senior age, the higher the risk will be.

Back then I realized, it’s not always about the payout afterall.

In the end, we changed the policy kahit issued na.

I asked my client, “ Mas may peace of mind ka ba sa plan na ito?”

“Yes, Sheila, I now have more peace of mind…” she replied.

As a Financial advisor, I’m happy because the client found what she really needs and wants.

The Php 9.6M is composed of the ff:

PHP 3.2m life insurance

PHP 3.2m accidental death benefit

PHP 3.2m for critical illness

And Waiver of Premium

Now let me break down what whole life insurance is all about and why it’s worth considering:

  1. Always Protected regardless of the market volatility: With whole life insurance, your coverage is lifelong. This ensures your loved ones receive financial support whenever you’re not around, providing security for generations to come.  No need to worry about the market movement.
  1. Steady Payments for limited years: You may choose from 5 years to pay or 10 years to pay.  These are guaranteed number of years of payment.  They will never ask you to pay for more after fully paying the required number of years. 
  1. Growing Savings: Your policy includes a savings account called Cash Value that grows over time. You can use it for cash when needed or as collateral for loans.
  1. No Tax Worries: The money your family receives after you’re gone is tax-free.
  1. Builds Up Cash through dividends: Certain whole life plans offer annual bonuses, adding to your savings. You can use this for more coverage, savings, or insurance costs.

In essence, whole life insurance is like a lifelong friend—it safeguards your family, helps you save, and provides extra benefits along the way.

If you are like my client, worried about the future of who will take care of their kids if she is gone, this plan might also be the right fit for you.  

If you want to know more about the details, feel free to choose your best schedule on this link 

>>BOOK A CALL NOW<<

A client bought a Freedom plan, which guarantees cash payouts every two years after full payment.

It has life protection up to 65 years old, with an insurance benefit equal to 200% of the basic coverage. 

The beauty of this is payouts are given as long as the insured person is alive.

After delivering the policy contract,  she realized that she doesn’t need the payout!

At first I was confused… kasi sino ba naman ayaw mag grow ang money and be given payouts diba?

But here’s what she said to me…

“Sheila, ang kailangan ko coverage.”

Now, generally speaking, people wants money… their money back… the payouts…

Technically for insurance plans, if you are targeting for a bigger payout… the life insurance coverage is small.

But if you want more life insurance coverage… the payout is lower or sometimes, wala ng babalik sayo.

In general, people wants the payout. But in reality, they want is to have peace of mind.

In this case, it’s more sensible and has more value for her to get the life insurance.

Why?

Going back to my client as an example.

Her payment plan is PHP 340k a year for 5 years…

In total, that would be 1.7 million payment. The coverage is PHP 2million…

Nag compute siya ng difference… PHP 2m – PHP 1.7m. In total, 300k lang kikitain niya..

So, we compared it to Seasons 100 product which main function is for protection naman.

Yung PHP 340k per year, we converted it as life insurance. Turns out the converege are:

PHP 3.2m life insurance, another PHP 3.2m accidental death benefit, and then another PHP 3.2m for critical illness

PHP 9.6m in total for protection during life’s changing times until age 100.

Now, the question is, why did she choose that?

She’s age 40, a mom of 2 kids. Ages 4 y/o and 6 y/o.

The time her youngest child hits 20, she’d be at age 56 and it’s a fact that as we get closer to senior age, the higher the risk.

The PHP 9.6m coverage ensures that the fund will take care of her kids in any situation.

Back then I realized, it’s not always about the payout afterall.

In the end, we changed the policy kahit issued na.

Sabi ko sa kanya “ Mas may peace of mind ka ba sa plan na ito?”

“Yes, Sheila, I now have more peace of mind…” she replied.

As a Financial advisor, I’m happy because the client found what she really needs.

Now let me break down what whole life insurance is all about and why it’s worth considering:

  1. Always Protected: With whole life insurance, your coverage is lifelong. This ensures your loved ones receive financial support whenever you’re not around, providing security for generations to come.
  1. Steady Payments: You’ll make consistent payments for your insurance throughout your life, and some plans allow you to finish payments early.
  1. Growing Savings: Your policy includes a savings account that grows over time. You can use it for cash when needed or as collateral for loans.
  1. No Tax Worries: The money your family receives after you’re gone is tax-free.
  1. Builds Up Cash Value: Certain whole life plans offer annual bonuses, adding to your savings. You can use this for more coverage, savings, or insurance costs.

In essence, whole life insurance is like a lifelong friend—it safeguards your family, helps you save, and provides extra benefits along the way.

If you’re realizing the importance of this or still uncertain about where to start, feel free to book a call with me.

>>BOOK A CALL NOW<<

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