Thursday, November 23, 2017

Term Insurance: Shopping Around Proposals and Quotes (Sunlife,AXA,PhilAm, Manulife)

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.

Personal Profile:

Age: 31
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

Coverage: 500,000
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. 

Final Thoughts: 

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.



  1. Nakakatawa about male and female insurance agents! Im reluctant to talk to them kasi nga I dont understand what they say. Nakakahiya. Thanks for posting this. It's really helpful.

    1. Don't be intimidated. As what Dave Ramsey said, "You know if you are talking to the right insurance person if he or she has the heart of a teacher." If you feel like you didn't learn something from the conversation, I think you should move on to another insurance agent.

  2. Philam Guardian 5 seems to have a lot of coverage: life, medical, and accident insurance. Is Php 8,171.47 the annual premium for 5 years? Sana meron ding 10 years.

    I'll keep checking to find out what insurance will win your heart.

    By the way I have Sunlife term insurance and critical illness. I've been thinking of paying higher premium for a permanent critical illness insurance for a higher coverage since it's for my self naman and not for my beneficiary. Any thoughts about it?

  3. Keep us posted on the HMO research, please! :)

  4. I am now considering life insurance as well. Although, I have my insurance and HMO provided by my employer, it is still important to have a personal one. I talked to several insurance agents and most of them pushed me to get a VUL and even if I asked for a term, I received proposals for VUL. Still shopping around though and comparing. Looking forward to your update regarding this matter.

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