All about life Insurance

[suizcon]

hi guys,

planning to do the same thing but i'm new to these insurance thingy.
what advice can you give a newbie like me?

thanks in advance











___________________________
http://www.fairfieldfunding.com

Structured Settlement

[Ischaramoochie]

that really depends, what are your financial plans, and what is your reason for getting insurance?

[KITHE ORTIZ]

is this something that I can do as a part time job?

i want to get 1 for myself and in the process i want to learn it as well
and i already have a target market

this career takes a lot, lot, lot of patience and hardwork..
you can pm me if you are interested.

[wewinzki]

hi guys,

planning to do the same thing but i'm new to these insurance thingy.
what advice can you give a newbie like me?

thanks in advance








___________________________
http://www.fairfieldfunding.com

Structured Settlement

Isha is right, you must first undergo a financial needs analysis so that you will have an idea what financial goal needs to be addressed. In our company we recommend product base on these needs and with the client's current life stage.

[wewinzki]

@ Ischaramoochie

How come most companies who have VUL are reluctant
or outright do not want to show potential clients and
policy holders the table of COI?

The COI rate is the only missing picture in the expense
equation since the premium charge,periodic charge and
admin charges are normally listed in the proposal.

So far, only Sun Life and Insular Life are willing to give
their COI rates.

Coco Life,Manu Life, Pru Life and PNB Life does list their
COI rate but only for the 1st year.
They do not release the TABLE of COI rates..
Weird because I can get a hold of their software,
do proposals for all ages to build my own table.
I don't know the rationale for their decision.

While Philam and Pioneer Life doesn't list even the
1st year COI rate at all and is not willing to give out
their table of COI rate.

While Axa naman, I think its more of a case of an
incompetent agent. I'm sad to say that I haven't met
a competent Axa agent yet despite talking to several already.
Most of them say that the only charges are the premium charges.
While the proposal clearly state that there are insurance and admin
charges.

I did get to talk to an agent which said that the COI rate is
set based on the age you got your policy, which I find hard to
believe since almost all of the other VULs have COI rates that
changes as the insured ages.

In the US, one of the basic aspects of a VUL is its transparency.
I wonder why most insurance companies here do not want to
give out their COI.
It hasn't stopped their US counterparts from being competitive

I believe COI is not included mostly in proposals because COI is not fixed. It is not mainly dependent on the insured's age but as well on the current NAR or Net Amount at Risk. NAR is computed by Subtracting the Current Account Value of the Policy to the Sum Insured. The Difference would were the computation of the COI be based.

So it's hard to put that in the proposal since the Fund Performance varies. But yes I do believe that it should be mentioned to the clients.

[mxherr5]

You're with Axa right? Wow that's a first.
Yeah, you're absolutely right but the proposal
should indicate the COI rate not the charge
because like you said, it would depend on
the actual risk covered by the insurance company.

Is that something that Axa freely gives and
the agents I was talking to just didn't know
better then?

[wewinzki]

@mxherr5 Yes I'm from AXA's Bancassurance wing. AXA actually go through that topic every sales clinic I have attended. I don't know if you have spoken to an agent but for our channel I'm sure most if not all of our Financial Executive knows about it.

[mxherr5]

Actually the second rep from AXA I spoke with was an FE.
From your Cubao branch. The one near Isetann Cubao.

She was the one who said that there's no insurance charges
hehehe I then pointed out to her that it says right there on
the proposal that there are insurance and admin charges.
hehehe She just smiled and changed topics

That was 2 years ago btw.. Maybe you didn't have a clinic
back then

[MakaveliLives]

Is health insurance a good/better alternative to/than HMO? What are the pros and cons compared to something like Maxicare?

I'm married with a baby coming out in a couple of weeks.

[wewinzki]

@mxherr5 Actually those topics are already discuss during training hehe. But now we do Sales clinic every three months so that FE's don't forget. When selling VUL or VLIP (Variable Life Insurance Plan) we are mandated to be transparent especially with the charges.

[kuyakikoy]

Hi mga Kabayang Agents, marami akong katanungan tungkol dito sa life insurance. Marahil ay marami din sa mga kagaya kong OFW na "read only" mode lang at nahihiyang mag-inquire lalo na dito sa online forum.
Una kong tanong: Pwede ko ba iinsure ang aking misis at ang aming mga anak? Ako lamang ang bread winner at ako ay OFW, and for sure insured na ako. Pero gusto ko rin naman na iinsure ang aking family, lalo na syempre ang aking misis
Ikalawang tanong: Anong Insurance ang best and affordable na angkop sa normal na pamumuhay?

[kuyakikoy]

3rd question: Sa anong page ng policy/contract makikita ang mga tinatagong "catch" ng mga insurance? Mangyari kasi sa kagaya kong tamad magbasa at nagrely na lang sa paliwanag ng agent, then pirma kaagad. Ngayon lang ako nagising dito sa thread nitong PEX.

Dear all Agents, care to advise and comments please?

[mxherr5]

sir hindi po ako agent pero na insure ko rin misis ko last year.
maselan po ang underwriters nung ng apply ako ng insurance
para sa misis ko.

Insurance is primarily to replace the insured's income
so kung housewife lang asawa mo, they still allow it
pero hindi ganun kalaki ang ibibigay nilang insurance
unless may work rin sya in which case yung insurance
would be to replace the income she would have brought
to the household.

At sir, mahirap yung ganun..dapat nyo pong basahin
ng maigi ang contract.. Wala kang laban dyan kung
sakali may hindi ka nagustuhan kasi pinirmahan mo.
Wag pong pumirma unless naintidihan nyo na ang
pinipirmahan nyo =D

[KITHE ORTIZ]

Hi mga Kabayang Agents, marami akong katanungan tungkol dito sa life insurance. Marahil ay marami din sa mga kagaya kong OFW na "read only" mode lang at nahihiyang mag-inquire lalo na dito sa online forum.
Una kong tanong: Pwede ko ba iinsure ang aking misis at ang aming mga anak? Ako lamang ang bread winner at ako ay OFW, and for sure insured na ako. Pero gusto ko rin naman na iinsure ang aking family, lalo na syempre ang aking misis
Ikalawang tanong: Anong Insurance ang best and affordable na angkop sa normal na pamumuhay?

Hi!
Yes, pwede mo iinsure ang misis mo at anak mo, as long as they are insurable or healthy..
If may insurance ka na sir, congrats!
But is it enough for you and your family?

You should talk to an advisor to identify your needs especially in financial planning, to address what you really need and your desired financial goals.. like education funding or retirement funding, etc.

There are different plans that suit your budget..

There is no catch in the insurance policy contract, normally in delivering the contract to the clients, agents should explain all the important benefits and details of the plan they got..

[bulataw]

hi i want also to be sunlife insurance agent how can i go about it?

[wewinzki]

3rd question: Sa anong page ng policy/contract makikita ang mga tinatagong "catch" ng mga insurance? Mangyari kasi sa kagaya kong tamad magbasa at nagrely na lang sa paliwanag ng agent, then pirma kaagad. Ngayon lang ako nagising dito sa thread nitong PEX.

Dear all Agents, care to advise and comments please?

Hi Sir, it's good to hear you are already insured and planning to get one
for your wife and kids. But like what they've said It's better if you can actually go a Financial Needs Analysis with your agent. There are basically 4 Key Financial Needs - Income Protection; Education, Medical and Retirement. You must consider what you want need you want to address.

[CoolCucumber]

Wrong thread.

[5110]

I am now interested in getting a life insurance. They say that mas lower rate pa if magsisimula ng mas bata but i dont have any ideas about it. Is there an agent here whom i talk to and ask everything that I need to know about Insurance. thank you.

[freelancer_babe]

I'm wondering if it's possible to reduce the face amount of a life insurance - VUL type?

[mxherr5]

freelance, I know you have Sunlife right?
Yes you can,
As per Sunlife's customer service, my 1M policy can be reduced to
500k, 400k once I reach 50, 300k once I reach 55