Though I have been contributing regularly to my PhilHealth, I still would like to have another form of insurance and this brought me to research more about Term Insurance.
Note: I talked to a lot of insurance agents and here's a thing I observed:
Female insurance agents: They talked and talked and pushed you to get VUL.
Male insurance agents: They are straight to the point. If you say you'd like to get a quote for term insurance, they'd give you what you want. PERIOD.
Non-smoker with no pre-existing medical condition
SUN Safer Life- 5 Year Renewable and Convertible Term
Face Amount: Php 1,000,000
1 to 5 years: Php 10,680 annually
Manulife YRT (Yearly Renewable and Convertible Term Insurance)
Face Amount: Php 5,000,000
Premium: 12,670 annually
PhilAm Guardian 5
Accident and Health 1,500,000
with Medical Reimbursement 100,000
Premium (5 years): 8,171.47
The agent didn't send me the proposal via e-mail. I talked to him in person and AXA has the most expensive premium among the 4 insurance companies I've talked to. I was given a quote of Php 50,000 yearly. AXA's coverage is so extensive so I guess there's a price to pay for that. Personally, I think most of the things they covered are unnecessary for me.
I haven't decided yet if I should get Term Insurance. I am researching about HMO (Health Maintenance Organization) and I will keep you posted once I gather more information about it.