Metrobank AXA insurance

[d_9]

Anyone knows how Metrobank AXA insurance works? Is it worth it? Could anyone explain to me how it works? and the premium?

Thanks

[1D4LV]

Anyone knows how Metrobank AXA insurance works? Is it worth it? Could anyone explain to me how it works? and the premium?

Thanks

what specific product? the variable life product? or the fixed period whole life product?

basically, all life insurance products work the same. for variable life, a portion of your premium is used to pay for the protection part of your insurance, while the rest is invested into mutual funds or UITFs so that when something happens to you, the proceeds will come from the protection part of the insurance product + cash dividends + the interest from the UITF investment + balance of the UITF investment. the insurance product cash values and its dividends are guaranteed but vary based on the projections of the insurance company while the proceeds from the UITF investment are not because they are dictated by the financial markets.

premiums too vary from each insurance company to insurance company, but based on experience, the variance is below 5%. of course there are other factors which contribute to your premium, among of which is age, health risks, occupational risks and financial capability.

on liquidity, you can either get a loan from the insurance cash vaues or you can withdraw from your UITF investment. the loan from the insurance cash value earns 8 PA and should be paid aside from your premium. If unpaid, the entire loan amount + interests will be deducted from the total proceeds of the insurance if you die. If you withdraw from the UITF investment part, ang mababawasan lang is yung UITF investment mo.

and yes, the policy, can lapse if you fail to pay your premiums and if you have insufficient cash value balance or insufficient UITF balance that can be used to pay your premiums.