Protection Cost

“Insurance cost is cheaper when you are not yet sick or are still able to work.”

Insurance is really wealth created from the moment an Insurance Policy is issued, in fact partial insurance coverage of 500,00 is already enforced at the time the Provisionary Receipt is issued once payment has been made.

You can sleep with ease and comfort knowing that whatever happens to you, your loved ones will be well taken cared of. Who else can give them Millions for their future if you are no longer there to assist? Even while alive, do you really have a few millions to use or for them to use? May be not!

And God willing that you will still be there at the ripe age of 70 with your dependents already having a comfortable life of their own, will what you save for the insurance be put to waste? Certainly not! The Variable Universal Life (VUL) insurance is specifically designed so that what you invested for protection can become a source of retirement too! Imagine being able to withdraw a few millions because you wanted to buy for your 6-months worth of medicine and things you may need at that time while still insured until the age if 100? If you are still alive when you retire at age 65, you have potentially 4.2 milion to withdraw from!

At a cost of 3,000 per month or 36,000 a year what is in it for you? 

Say you are 30 years old, 

PROTECTION Benefits:

 (@10% growth rate, Fund Value is not guaranteed as it will depend on the performance of the chosen fund)

Insured Amount/Sum Assured: 3Million

In case of total & permanent disability: 2M

Accidental Death or Disablement: 500K up

If diagnosed with Critical Illness: 800K up

Fund Value if you die @ age 65:  4.2M

Total Benefits: 7M up!!

Whoever is your beneficiary will surely be well taken cared of and that’s really the essence of protection.

If you become totally disabled at age 35 and you can no longer work, what is not nice and wonderful about being paid 2M in advance from your 3M Sum Assured so that you can still provide for your family? added to that, since you provided a Waiver on Total and Permanent Disability rider, you continue to be protected with 1M Sum Assured and will NO LONGER be paying your 3,000 a month or 36,000 per year because Pru Life U.K. will continue paying that for you until age when the waiver shall lapse at age 70. since at age 70 you will have 10M or more, the fund value will take care of the payments until age 100, more than enough to cover your protection insurance.

If you are diagnosed with any of the 36 Critical Illnesses which include stroke, heart attack, cancer, etc. – the very common and very expensive kinds if illnesses, you will get 800,000 in advance to help shoulder the cost of treating the illness. if the total hospital cost for 1 critical illness is 1.5M, don’t you think 800K is a great discount?Now, if due to critical illness you are removed from the picture at a tender age of 45 or barely 15 years after you started the policy, maybe your dependents will still depend on you and your loss will be tragic for them. It won’t be totally tragic as you already have the wealth for them to use to build their future.  And that could be:

TOTAL BENEFITS: 3M + 630K = 3.60M up!

at age 45, 36,000 x 15 = 540K worth of payments ONLY!

3,000 per month is a savings amount you can put into insurance instead of regular savings. You commit 3,000 with all your heart because you believe that the wealth is already there and while we never want to die, it’s really a hard reality and certainly in life.

If you are younger than 30, it means lower insurance charges, longer investment horizon to reach age 65 and hence bigger and better Fund Value return. So, the younger you get a policy, the cheaper and the better it is for you.

At your age today, do you think you can set aside 3,000 for your own protection the protection of your family’s future?

Message me right away! Let’s discuss your options.

Author: pruactiveadvisor

I am a Financial Advisor affiliated with PruLife UK, in the Philippines. I can help you with your Traditional insurance and VUL needs. But more than that, I am very willing to discuss with you your financial status and how we can find ways to improve it. I have been a strong advocate of financial literacy and financial wellness since 2010, sharing information related to achieving ones financial goals. If you want to set up a meeting to discuss your current financial status and needs, reach out to me thru pruactiveadvisor@gmail.com   Sincerely, Pru Active Financial Advisor

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