COMMUNITY NOTICE: If you are having trouble in your account access, please do send us a message at [email protected] for assistance.

BPI-Philam Build Life Plus

Anyone here na merong ganitong type of VUL? Maganda po ba ito? Medyo di ata napaliwanag sa akin ng mabuti ng bank representative so medyo confused ako. Thanks po for sharing insights.

Comments

  • dyoannedyoanne Member PExer
    anses07 wrote: »
    Anyone here na merong ganitong type of VUL? Maganda po ba ito? Medyo di ata napaliwanag sa akin ng mabuti ng bank representative so medyo confused ako. Thanks po for sharing insights.

    Do you have this? I got this last year. So far okay naman. How much is your coverage and your monthly premium?
  • anses07anses07 Member PEx Rookie ⭐
    Yes po I have this. Okay ba ang investment side nya? Mine has a monthly premium of P8659.99 with a face amount of P420,000. Sayo po?
  • ZeuanZeuan Member PExer
    anses07 wrote: »
    Anyone here na merong ganitong type of VUL? Maganda po ba ito? Medyo di ata napaliwanag sa akin ng mabuti ng bank representative so medyo confused ako. Thanks po for sharing insights.

    Meron din kaming magasawa nito? 5 years pay premium. The BPI agent obviously convinced us... but it was only recently that I read a lot of negative feedback about VUL. Is this a VUL? Have we made the right decision? Sana there is someone who can enlighten us based on their experiences.
  • dyoannedyoanne Member PExer
    anses07 wrote: »
    Yes po I have this. Okay ba ang investment side nya? Mine has a monthly premium of P8659.99 with a face amount of P420,000. Sayo po?

    Hi Anses07, mine is P5,365.98 monthly for P599k coverage. 5 years to pay. I noticed mas mataas ang premium ng Build Life Plus tapos mababa lang ang coverage (I got Sunlife for P2500 monthly with 1M coverage) . Must be because sa Build Life Plus more on investment sya. Pero parang ang laki ng premium mo? Baka quarterly yan?
  • dyoannedyoanne Member PExer
    Zeuan wrote: »
    Meron din kaming magasawa nito? 5 years pay premium. The BPI agent obviously convinced us... but it was only recently that I read a lot of negative feedback about VUL. Is this a VUL? Have we made the right decision? Sana there is someone who can enlighten us based on their experiences.

    We had the same dilemma when I first got this. At first, I thought nagoyo ako ng Bancassurance agent because when she offered me this product, I was made to believe na investment sya (being ang tanong nya sa akin eh "Maam, gusto nyo po ba mag invest?), tapos may free insurance daw. She really got me on the insurance part. Since that time wala talaga ako insurance, I sign up. Later on ko na lang nalaman ng magresearch ako na maraming negative feedback ang VUL. Hindi ko alam kung tuloy ko ba sya or what. I decided to push through. Though it's heavily laden with charges kung iisipin mo, the mere fact na insured ka, while having investment ay malaking bagay na rin.
  • forgforg Administrator PEx Moderator
    I'm considering of getting this but medyo malaki monthly nya but I like the idea of having investment and insurance at the same time. I'm researching pa rin and evaluating other options din
  • JoSapJoSap Member PExer
    Build life plus ko 20k lang kumuha ako May 2016 ar may rider na Critical Illness insurance na 220k ang face value na almost 3k *** yearly kaya wala pang 12k ang semi annual ko 400+k din ang face value ng build life plus ko.
  • GenManGenMan Member PExer
    In General, VUL can work in your advantage or disadvantage, remember laging may pros and cons ang financial products, its a matter of how we will use it. sabi nga every financial vehicle ay may purpose and goals na inaaddress, depende lang if naka align ito sa goals and needs mo. VUL is a hybrid product that let you enjoy both worlds, protection and investment. eto yung para sa mga tao na gusto ay simple lang, nag iipon para sa future goal nya at the same time may protection rin habang hindi nya pa na aachieve ang financial target/goal nya, so khit nasa middle palang sya ng journey nya and something happen, then secure pa din ang goal nya para sa sarili nya(Living protection), family and love ones(Death benefit) nya dahil sa insurance. however, depende yan sa design ng vul, mayroong geared towards protection and towards more on investment. if need mo ng malaking protection, then kuha ka ng mas focus on protection rather than investment and vice versa. if ikaw naman ang tipong mas gusto mo ng may control sa investments, then get separate investments, yung pure investment lang and get separte insurance plan na pure protection lng. again, different folks, different strokes. and get a good financial advisor para mag guide sa Financial planning nyo :) . hope it helps GUys
  • Hi to all! This is my first time to join the discussion on this website.

    I'm a financial adviser registered her in PH connected with in a different insurance company. I'm writing here not to disrespect the product or the company, but only to explicitly discuss the implication that may cause to my client.

    My client has this same this same policy and i'm also trying to figure out how this product Build Life Plus 5 years work.
    As per my client he's paying P10,000/monthly up to 5 years.
    P 10,000 x 60 months = P 600,000
    P 630,000 wait for 5 years = roughly P 2,000,000.00 guaranteed
    He is covered for P 950,000/life, P 950,000/A&H

    First of all, please don't fall into the trap that there is a free insurance.
    Never in this world that anyone will give a free money without something in return.
    In lotto you need to give P 20 to potentially win the jackpot prize of P X00,000,000.00

    VUL simply works as: 
    A premium paid (pp) - insurance cost is what the insurance company get to give you the face amount and other benefits (ic) = difference is subject for savings & investment (sav & inv)
    e.g. P 10,000 - P 5,000 = P 5,000 x (investment 4 %)  = P 5,200 (sav & inv)

    Going back to my client, based on the projections here I think there's a big misinterpretation on the policy that he's paying.
    He doesn't know how much he's insurance cost and what he's expecting guaranteed amount to have in the future will jeopardise his finances. 

    To have the roughly P 2,000,000 guaranteed you must have at least 22% CAGR of P600,000 investment.
    How much is the insurance cost less the total premiums paid?

    My main message here is to know your needs and be diligent, study on the details and think thoroughly prior to immersing yourself into a long term commitment.
  • sagoatgulamansagoatgulaman Member PEx Rookie ⭐
    Jay10 said:
    Hi to all! This is my first time to join the discussion on this website.

    I'm a financial adviser registered her in PH connected with in a different insurance company. I'm writing here not to disrespect the product or the company, but only to explicitly discuss the implication that may cause to my client.

    My client has this same this same policy and i'm also trying to figure out how this product Build Life Plus 5 years work.
    As per my client he's paying P10,000/monthly up to 5 years.
    P 10,000 x 60 months = P 600,000
    P 630,000 wait for 5 years = roughly P 2,000,000.00 guaranteed
    He is covered for P 950,000/life, P 950,000/A&H

    First of all, please don't fall into the trap that there is a free insurance.
    Never in this world that anyone will give a free money without something in return.
    In lotto you need to give P 20 to potentially win the jackpot prize of P X00,000,000.00

    VUL simply works as: 
    A premium paid (pp) - insurance cost is what the insurance company get to give you the face amount and other benefits (ic) = difference is subject for savings & investment (sav & inv)
    e.g. P 10,000 - P 5,000 = P 5,000 x (investment 4 %)  = P 5,200 (sav & inv)

    Going back to my client, based on the projections here I think there's a big misinterpretation on the policy that he's paying.
    He doesn't know how much he's insurance cost and what he's expecting guaranteed amount to have in the future will jeopardise his finances. 

    To have the roughly P 2,000,000 guaranteed you must have at least 22% CAGR of P600,000 investment.
    How much is the insurance cost less the total premiums paid?

    My main message here is to know your needs and be diligent, study on the details and think thoroughly prior to immersing yourself into a long term commitment.
    No offense meant to your client, but this seems to be a case of a buyer not knowing what he's buying combined with a seller not understanding what he's selling. And this usually ends in disaster.
    Insurance is a great product and a necessity for people with dependents, but unfortunately there are a lot of misinformed, incompetent and downright greedy insurance agents around. 
    Definitely agree that people who plan to buy insurance should study up to avoid bad agents and identify the knowledgeable ones who actually care for your financial needs. 
  • Hello po

    I have been a long time BPI Client and recently I get Build Life Plus with a monthly premium of 1975.95 with face amount of 500,000 DB, 500,000 A & H, 1000/monthly HIB

    Sa mga may question po bakit maliita ng hulog ko, kasi d po ako kumuha ng payable in 5 years or 10 years. Kinuha ko po yong kaya kong hulugan buwan buwan ng tuloy tuloy. Kaya po sa mga may malking monthly normal lang po yan kc 5 yrs to pay po ang knuha nyo. Ang maganda po jan pg after  years wla n kayong prblema ant guaranteed n po ang benefit nyo tpos my additional interest pa sa investment nyo. 

    Sa akin po kasi since young professional ako, I know I can pay pa rin the same amount monthly even up to 20 years and then stop na as long as ung pera ko sa investment sasapat na sya pnghulog s monthly premium ko for my insurance.

    Savings and protection po sya, lumalago ang pera mo at the same time anytime my mangyari meron kang maiiwan sa family mo. Pwe rin po kayo mgloan sa policy mo subject to charges (as indicated nmn)


    Just sharing po! Thanks
  • ethan911ethan911 Member PEx Rookie ⭐
    edited June 13
    I have this VUL, I pay 5,428 per month for 5 years. 
    Eto ung details ayon sa bpiphilam account ko.
    Pero di ko maintindihan ung benefits part.

    Basic Coverage
    Plan Build Life Plus 5-pay
    Life Coverage PHP 500,000.00
    Supplemental Benefits/Riders
    Rider Name A&h Udr Parts 1 - 3 Class 1; 5pay
    Coverage PHP 500,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2055
    Rider Name 5-pay Critical Illness Udr
    Coverage PHP 250,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2058
    Rider Name 5-pay Waiver Of Premium For Ci Udr
    Coverage PHP 50,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2021
    Account Values
    Fund Name BPI-Philam Equity Index Fund 2
    Number of Units 172,263.57
    Fund Allocation 100.00%
    NAVPU 1.03050000
    Account Value PHP 177,517.61
  • anses07anses07 Member PEx Rookie ⭐
    ethan911 said:
    I have this VUL, I pay 5,428 per month for 5 years. 
    Eto ung details ayon sa bpiphilam account ko.
    Pero di ko maintindihan ung benefits part.

    Basic Coverage
    Plan Build Life Plus 5-pay
    Life Coverage PHP 500,000.00
    Supplemental Benefits/Riders
    Rider Name A&h Udr Parts 1 - 3 Class 1; 5pay
    Coverage PHP 500,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2055
    Rider Name 5-pay Critical Illness Udr
    Coverage PHP 250,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2058
    Rider Name 5-pay Waiver Of Premium For Ci Udr
    Coverage PHP 50,000.00
    Effective Date February 16, 2016
    Expiry Date February 16, 2021
    Account Values
    Fund Name BPI-Philam Equity Index Fund 2
    Number of Units 172,263.57
    Fund Allocation 100.00%
    NAVPU 1.03050000
    Account Value PHP 177,517.61
    Gaano mo na katagal hinuhulugan ito sir?
  • ethan911ethan911 Member PEx Rookie ⭐
    edited June 19
    5 years po @anses07

  • Huwag kayo maniniwala sa BPI philamlife representative nila, they are trying to convince you para makakuha ka ng policy sa kanila. Hindi sila transparent magpaliwanag . 6,285 a month ang binabayarn ko sa policy for 5 years to pay life insurance +investment, then covered ako ng 500k lang. then nag request ako ng refund ng policy for almost 1 year and half sa pagbabayad ko, nag decide ako mag cancel ng policy at lumipat ng sunlife dahil mas malaki ang coverage nila at mababa ang monthly. Nag request ako ng cancellation ng policy ko month of May then nag deduct pa rin sila ng month of June kumaltas ulit sila ng 6,285 sa account ko.  nag complain ako, sabi na naman ng rep nila marerefund naman daw yun separately ko makukuha ang request. Tapos ang nakuha ko lang pera na bumalik sa akin ay 9,000, nagulat talaga ako, dahil ang paliwanag ng sales representative nila is makukuha ko ang perang hinulog ko, may mga charges lang na kakaltasin, Grabeeeee kung 1 year and half ako naghulog + yung month of june na kinaltas nila sa account ko na 6,285. 
    Kahit may charges pa sila halos kinain na nila lahat ang pera ko. Hindi na rin daw nila maibabalik ang month of june. Huwag kayo kukuha ng BPI PHILAMLIFE sasakit lang ulo ninyo dyan. 

  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited July 8
    Any news if BPI Philam will sell the insurance business to Prulife UK? It was an opportunity before.. Why not do it again this time?

    Philam is a losing business right? After they went out AIG?
  • piquanteyepiquanteye Member PEx Expert 🎖️
    just merge the reds
  • piquanteyepiquanteye Member PEx Expert 🎖️
    BPI - EastSpring  AMTC is a wonderful idea.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file