Recently, I've made a major life decision with regards to investment. I have purchased a Variable life insurance from my son who became a Financial Advisor with Sun Life of Canada, Philippines Inc. and I want to share my reason for purchasing it with the hope of convincing my fellow Filipinos that the road to financial freedom is easy, if you know the way of proper investing and if you have someone to help you, in my case, it was my son who helped me. If you do not get an Insurance Policy now, as my son had told me, you will continue to experience the following:
1. You will continue to be taxed for your savings account in the bank which is called the withholding tax and it is a very high 20% of the interest rate. Your Insurance policies are not taxed because the company pays for it from its income.
2. You will continue to experience low interest rates with banks like 1% for Savings account. The 10 year yield of the Balanced Funds from Sun Life is 218%! I was surprised when my son had told me this and that definitely piqued my interest. Imagine. If you had regularly invested Php 12,000 every year during 2004 until 2014, your money now would be somewhere between Php 300,000 to Php 350,000 in comparison to the bank where your Php 10,000 will just gain Php 800 minus the withholding tax and that is for 10 years already!
3. You will not be protected by banks with the amount of money that you put in. If you have a savings account with the bank, you know that you do not have any type of insurance protection for you. While an Insurance Policy, after paying the Initial Premium, automatically protects your family financially in case whatever unexpected event may happen to you.
4. You will not enjoy diversity of your invesment. With banks, you will not be able to choose where your hard earned money will be placed and thus the interest rate is fixed. With the insurance policy, you get to choose on which type of fund you could put it and how much percentage of it will go to that investment. You may place it in Government bonds called the Bonds Fund which has a 97% interest rate from 2004-2014 for the Conservative investor, both the government bonds and in the Philippine Stock market called the balanced funds which has a 218% interest rate from 2004-2014 and the most surprising one is the Equity funds where the money is all placed in the Philippine Stock Market which has a staggering interest rate of 314%!
I'm going to tell you now that if you still want high tax rates from your hard earned money with very low interest rates without any life protection for you and your family and no diversity of your investment, then continue to trust banks. But if you want to get out of your comfort zone and want to grow your money exponentially, then make the same decision I did, invest with Sun Life now.
If you are interested, Mutual Funds start at a minimum of Php 5000 and Variable life insurance at Php 8000 per year. Please do send him an email at vinnoe.m.villanueva@sunlife.com.ph
1. You will continue to be taxed for your savings account in the bank which is called the withholding tax and it is a very high 20% of the interest rate. Your Insurance policies are not taxed because the company pays for it from its income.
2. You will continue to experience low interest rates with banks like 1% for Savings account. The 10 year yield of the Balanced Funds from Sun Life is 218%! I was surprised when my son had told me this and that definitely piqued my interest. Imagine. If you had regularly invested Php 12,000 every year during 2004 until 2014, your money now would be somewhere between Php 300,000 to Php 350,000 in comparison to the bank where your Php 10,000 will just gain Php 800 minus the withholding tax and that is for 10 years already!
3. You will not be protected by banks with the amount of money that you put in. If you have a savings account with the bank, you know that you do not have any type of insurance protection for you. While an Insurance Policy, after paying the Initial Premium, automatically protects your family financially in case whatever unexpected event may happen to you.
4. You will not enjoy diversity of your invesment. With banks, you will not be able to choose where your hard earned money will be placed and thus the interest rate is fixed. With the insurance policy, you get to choose on which type of fund you could put it and how much percentage of it will go to that investment. You may place it in Government bonds called the Bonds Fund which has a 97% interest rate from 2004-2014 for the Conservative investor, both the government bonds and in the Philippine Stock market called the balanced funds which has a 218% interest rate from 2004-2014 and the most surprising one is the Equity funds where the money is all placed in the Philippine Stock Market which has a staggering interest rate of 314%!
I'm going to tell you now that if you still want high tax rates from your hard earned money with very low interest rates without any life protection for you and your family and no diversity of your investment, then continue to trust banks. But if you want to get out of your comfort zone and want to grow your money exponentially, then make the same decision I did, invest with Sun Life now.
If you are interested, Mutual Funds start at a minimum of Php 5000 and Variable life insurance at Php 8000 per year. Please do send him an email at vinnoe.m.villanueva@sunlife.com.ph
