What is your recommended life insurance?

This topic contains 30 replies, has 8 voices, and was last updated by Pau Villano Pau.lo 2 years, 3 months ago.

Viewing 15 posts - 1 through 15 (of 31 total)
  • Author
    Posts
  • #2169
    FrustratedBillionaire
    FrustratedBillionaire
    Keymaster
    Rank: Diamond

    Peeps, I’m looking to buy a life insurance of my own and have been swamped with lots of different options. Most life insurance companies have the same packages, and the calculation of the benefits and the covered life events (sickness, disability, death) are various as well.

    Whatever the package is that I get, I think it all boils down to customer service – if these companies are reliable and if they even pay out what is claimed, and also if they are actually responsive to customer needs long after one finally signs the agreement (excellent after sales service). I’m looking for feedback on one of the following life insurance companies here in the Philippines (please let me know if there is something amiss that should be included in the list):

    1. Sun Life
    2. Philam Life
    3. AXA Life
    4. Prulife
    5. Insular Life
    6. Manulife
    7. Grepalife
    8. PNB Life
    9. Generali Life Insurance
    10. Philippine Prudential

    See? The list itself is already overwhelming. What life insurance do you have right now? Can you please share your experiences with these companies to help me (and fellow readers) pinpoint which one provides the best service. This is a very important part of our retirement plan, so your feedback really counts and will be greatly appreciated. :)

    #2176

    Tomotom

    Sun life! I don’t have any experience with other life insurance products but I do have life insurance with sun life. After sales support has been great because I signed up through a friend who happened to be an agent. She’s constantly keeps in touch and updates me on the status of my account. Don’t have experience making a claim tho.

    #2180

    Markus_71
    Participant
    Rank: Brass

    Good thing you have a friend for an agent. I bought insurance with Sunlife in 2014 through agent at Megamall, because I did not personally know any agent. Ever since, poor customer service. Late replies on my questions. Months to wait most of the time. Whats worse is, the number of my agent is now uncontactable so I just course my concerns directly with Sunlife which is a hassle.

    #2181

    Markus_71
    Participant
    Rank: Brass

    Now I want to cash out and look for another insurance. :( Up on this topic please!!!

    #2184

    tinne_dl
    Participant
    Rank: Brass

    Ako din yung friend ko wala na din contact sa agent nya. :( Gusto ko din ng insurance pero nagdadalawang isip ako sa Sunlife kahit sikat pa sya. Meron po ba dito na may experience sa ibang insurance”? Thanks po sa help. :)

    #2187

    Ms. Janet
    Participant
    Rank: Brass

    For me you should assess the insurance company you are looking at based on the following measures:
    CONTACTABILITY/REACHABILITY – you want to secure your life insurance for the long term from a company that makes sure you can reach and contact them. I recommend in this category Insular Life (which has the equivalent of an online banking portal) and Philamlife (only because they have many branches nationwide so you can easily find and talk to them in your locality).
    FINANCIAL STABILITY – the highest ranking insurance company in terms of net worth is Insular Life. You should check net worth and not gross worth because it represents how much is left after liabilities are deducted from the company’s assets.
    SERVICE and CLAIMS PROCESSING- we have heard of stories of people investing only to later have difficulty in applying for claims. For this category, I recommend Sunlife, Philamlife and Insular life. These companies have a long history of meeting their commitments to its customers/investors.

    #2191
    Pau Villano
    Pau Villano
    Participant
    Rank: Brass

    Ako din yung friend ko wala na din contact sa agent nya. Gusto ko din ng insurance pero nagdadalawang isip ako sa Sunlife kahit sikat pa sya. Meron po ba dito na may experience sa ibang insurance"? Thanks po sa help.

    @tinne_dl Sis, it all boils down to the agent you’re dealing with. Dapat make sure mo na you personally know and trust our agent kasi kahit ano pang insurance company ang piliin mo, it will be your chosen agent that will dicate how your experience with the company will be. If at all possible, kunin mo yung closest family/friend mo na ahente din, para sure na alaga ka at may concern talaga yung agent sayo. Lalo na pag may kelangan kang iprocess na payments/claims mas madali pag kilala and trusted mo.
    #2203
    FrustratedBillionaire
    FrustratedBillionaire
    Keymaster
    Rank: Diamond

    Much thanks and welcome to the community @tomotom, @markus_71, @tinne_dl, @Ms.Janet, and @PauVillano! Great insights right there. @PauVillano I agree to get an agent you can trust.

    Keep them posts coming! We all need feedback about these companies. Salamat guys :)

    #2204

    Markus_71
    Participant
    Rank: Brass

    Thanks bro @frustratedbillionaire. Agree with @PauVillano. Go with the agent you are most comfortable dealing with and trust the most. Having someone you can trust basically frees you from the worries of your agent running away with your money.

    #2205

    boyet23
    Participant
    Rank: Brass

    Yes but while having a friend or a relative for an agent frees you from worries, pwede ding dun mag end ang relationship nyo with each other kasi di ba pag business transactions hanggat maari iwasan makipagtransact sa friends or family. So take caution nalang din siguro.
    For me yung agent na nakilala ko sa Metrobank na nagbebenta ng life insurance with AXA life na may kasamang investment, dun ako nag sign up. so far, so good naman. Let me know if you need her contact na din in case wala kayo kilala.

    #2215

    Joms
    Participant
    Rank: Brass

    Just want to share this with you guys.. For me, I had a terrible experience with AXA. I got the AXA Accelerator Premium 2 years ago where I deposited P4500 to my account every month, and until now ive been diligent in paying my dues with AXA. However 3 months ago I checked with them and I was expecting an account value of at least 95K supposedly because if you do the basic computation of you depositing every month for almost 2 years, that means account value should actually go up. But I was surprised and extremely disappointed to find out online that my account value is actually 65K. A very painful loss in my part. part. The worst thing is I can only withdraw my money without a penalty on the 6th year. So I will be wasting more of my blood and sweat money away for many more years. I fell to the sweet talks and false promises of the AXA agents in Metrobank. And now Im having a hard time contacting my agent. When I call cust service they just say they will be making a follow up with the agent. Bwiset talaga. I was looking forward to the promise that my money will grow fast only to find out that it’s actually the exact opposite. I really regret having invested here. I should have kept my money in an ordinary savings account.

    #2219

    Alpha Omega dela Cruz

    Go for Prulife UK because it is the Pioneer in the insurance business in the world having been there since the 1800s. It may not be no. 1 in Philippine sales because the others came earlier in the country. But it is no. 1 in the world in terms of having the best Financial Management firm in the World – The Eastspring, followed only by JP Morgan. It has also the best quality, reliability, stability and the best insurance with profit investment.
    How can I help you to achieved your financial goal?… 0915-976-3504
    Alpha Omega dela Cruz

    #2220

    Carlos

    After months of comparing almost all the insurance companies mentioned here, I finally I chose Manulife for my family and I think I made the right decision.
    I talked to agents, managers, examined several different insurance proposals which a big pain in the ass, dug deeper, read far and wide online including blog comments and other forums, and talked to policy owner friendsunderstand and hopefully pick the right insurance company and package that would suit my family’s needs. Finally, I already applied for 10 policies (VLs & life/protection) with Manulife to cover my family.
    As to criteria and process to arrive at my choice, it will be too long and too complicated to write here. But rest assured I took it seriously. After all, it is about and for people who are most important to me. Finances and investments, too, are obviously important. This, by the way, in no way a kind of sales talk in favor of Manulife.
    By the way, years prior to getting VL and life/protection policies, investments in MFs and stocks were placed (still active). Starting early and diversification are allies :)
    I hope this post will encourage others as well to look into their finances, family and future.

    #2231

    Mark Tan

    Grepalife sucks! My dad bought us College Assurance Plan (CAP) through Grepalife to ensure our college education. Our insurance allowed us to choose any university in the Philippines regardless of the cost. We’re able to take advantage of the plan ’til our second year of college and that’s when the CAP went bankrupt and unable to provide our tuition ’til graduation from college. Sucks bigtime. Our mom was forced to shell out the remainder of our tuition, and Grepalife? Well their building still stands tall along Buendia Ave. in Makati while their policy holders have suffered because of them not honoring their commitments. Bullshit! So for sure if they can do that to CAP holders, they can do the same to its life insurance clients too. DO NOT FALL FOR THE FALSE PROMISES OF GREPALIFE!!! It’s full of bullshit! One word saying they’re bankrupt and your hopes and dreams and hard-earned money are gone. Just invest the money somewhere esle and you can still use it for your future plans.

    #2247

    Chrissy

    I think saving the money yourself and investing it in some REAL investments will do you better than getting a life insurance from Sun Life, AXA, Philam, or any other rubbish insurance companies out there. My personal reasons which I think you should consider too:
    1. In case you get disabled/sick and file for a claim, you will be asked tons of questions and investigations by your agent and your insurance company before you can file a claim. Worse case is that if they decide to invalidate your claim because of their sneaky fine prints. If you do save and invest yourself, you can withdraw in an instant, no questions asked because it’s your hard earned money. These companies are out there to make money from you and not to actually help you out. This is pure business.
    2. BAD CUSTOMER SERVICE!!! These agents will give you false hopes and promises of a good retirement, but they are no better than networking/MLM companies who are just out there to SCAM YOU. They can promise you the three stars and a sun. But if you do sign the deal, good luck on chasing your agent for your payments/benefits.
    3. These companies can always declare bankruptcy leaving you with nothing and them running away with their assets.

Viewing 15 posts - 1 through 15 (of 31 total)

You must be logged in to reply to this topic.

privacy policy