Insular Life's 3-in-1 Money Back Plan

[boybi]

saw their ad in the newpapers. mukhang ok.

up to P2M life insurance protection
- provides cash benefits from death due to natural causes during the 10-yr paying period.

up to P2M accidental death benefit
- doubles your benefit in case of death due to accident. your beneficiaries will receive as much as P4M in cash.

up to P2M hospitalization benefit
- get as much as P3000/day or P90,000/mo. for Plan 2000, up to a maximum of P2M. benefits start on the first day if confined due to accident or injury and on the fourth day if due to sickness.

If you stay health and no claims are made during the 10-yr period of the policy, you get all your cash back. Money back plan will return all the premiums you paid in ten years.

Monthly Premiums for ages 20-35:
Plan 200 P203.80
Plan 500 P509.50
Plan 1000 P1,019.00
Plan 2000 P2,038.00

premium increases as age increases, and have a minimal discount for quarterly, semi-annual or annual premium payments.

anyone here have this kind of insurance?

ang gusto ko lang malaman is if once lang ako na-confine in the 10-year paying period, does that mean i won't get a single cent at the end of 10 years, kahit maliit lang nagastos sa hospital?

[the_wildthing]

ang gusto ko lang malaman is if once lang ako na-confine in the 10-year paying period, does that mean i won't get a single cent at the end of 10 years, kahit maliit lang nagastos sa hospital?

Big possibility, yes. If you make a claim... That's the "bet" they take, and that's how they priced it - based on risk.

I understand from your previous posts, you are self-employed. If you can get small group health insurance for your company and get you and your family covered, that would be better, then just get ordinary whole life insurance for death plus accidental death and dismemberment.

[_Qwerty_]

10 years ka lang insured.. tapos kung mag claim ka kahit once lang.. wala ka nang money back.. if you get 2T per month.. that's 24T per year or 240T for the duration of the plan.. tapos nag claim ka nang worth 10T lang.. wala na yung 230T mo..

I got a sort of similar plan sa ING.. 10 years paying duration.. insured ka nang 2M for life.. then anytime.. you can withdraw your money with dividends.. pwede ring yung dividends lang i withdraw and insured ka pa rin.. or you can withdraw everything plus principal.. kaya lang di ka na insured..

[Asus700]

from what i know from certain insiders, not too many are applying for this plan, now. nag taper off na. however, they continue issuing the print ad, mainly sa panorama ng manila bulletin as a way of making themselves visible continuously.

just make sure how much of the premium they will return after 10 years. some return the hospitalization premium only and not the insurance premium. and still others return the insurance premium and not the hospitalization premium. you have to clarify, para hindi ka mabulaga.

tama sila na once you make a claim no matter how small, forfeited na yung money back.

you have to clarify though, if they will return the premium for the life insurance part of the product if you make a claim on the hospitalization.

kasi ganito yung scenario: if they will return all the money you paid (life insurance and hospitalization) after 10 years, then para kang nag savings na walang interest.

kung forfeited lahat ng premium, if for example you made a claim on hospitalization, then you get nothing back after 10 years.

that is why you have to clarify kung matatanggap mo yung premium sa life insurance portion of the product.

the issue is moot if something happens to you, of course.

[van_wilder]

money back? so parang nagpautang ako without interest... yun money supposedly nagdouble up in 5 years, so laki kita nila kasi hindi naman 1 out of 5 mamatay eh...

[j_avonni]

Matagal na itong Money Back Plan na ito - about more than 20 years na.

It's just like savings for 10 years without interests. But if you made a single claim, wala na ang savings mo. Sana ang money back plan ay total amount of premium paid minus the amount of claim/s.

[1D4LV]

you have to clarify though, if they will return the premium for the life insurance part of the product if you make a claim on the hospitalization.

the life insurance part is different from the hospitalization claim. if you make a claim in the middle of the 10 year coverage, you will not get you money back, but you are still protected under the life insurance coverage until the 10 year coverage expires. so if for example, you made a claim on your 5th year. hindi mo na makukuha yung remaining premiums that were paid and are still to be paid. but you still have to pay for the life insurance coverage, na pag may nangyari sa iyo babayaran ka pa din nung entire face amount nung policy.

[109]

usually ang beneficiary ng isang tao ay spouse.

pano kung may mangyari sa mag-asawa, sino tatanggap ng benefits kung walang anak? yung magulang ng lalaki (insured) o magulang ng babae o hati?