I just want to share with you my real experience with applying an insurance in the Philippine AXA Life Insurance Corporation. Here’s a sad but true story you can learn from.
My AXA Insurance Policy
Philippine AXA Life Insurance
First, let me introduce to you some vital information about Philippine AXA Life Insurance Corporation. It’s a financial company, a partnership between AXA Group and Metrobank Group. Based in France, AXA serves a global clientele of more than 80 million customers in more than 50 countries with over 1 billion Euros under management. They claimed as one of the world’s leaders in financial protection and wealth management. The Metrobank Group has consolidated resources amounting 649 billion pesos and capital funds of around 68 billion pesos.
My application to the Philippine AXA Life Insurance
I frequently go to a certain Metrobank branch to deposit money for my savings account. One day, a bank officer which is also an insurance agent approached and introduced me a kind of investment that would help me save and earn more in the future years. He’s quite smooth in selling the financial product and I’m very convinced of his idea to make my money grow more. At first, I’m not interested in his offer. After few weeks, I’m thinking of accepting that offer. And I went to the bank to apply for an investment insurance called Life Basix of Philippine AXA Life Insurance. I approached the same bank officer again for my application.
Life Basix of Philippine AXA Life Insurance
This kind of insurance is a regular-pay variable insurance product where a portion of the premiums/payments, net of the company’s charges in invested to a choice of fund. The kind of fund recommended by the bank officer is the Philippine Wealth Balance Fund which I opt in for. Unlike most investments, this insurance provides multiple benefits to the policyholder such as:
Guaranteed Death Benefit equivalent to at least 500% of the annual premium if no withdrawal is made.
Potential upsides from portion of the premium placed in bonds, equities and/or money market instruments, depending on your risk appetite.
Guaranteed loyalty bonus as a reward for keeping your investments with AXA.
The age covered by the insurance is up to 100 years old.
My Payment and Benefits
I pay 1,585.84 pesos monthly through automatically debiting from my savings account (ADA). It totals PhP19,030.00 annually.
For a premium of PhP19,030.00 annually, I’ll get to enjoy the following benefits:
For You (Living Benefits)
For Your Loved Ones (Death Benefits)
When the insured reaches 65
If the insured passes away
Based on 8% annual rate
4% annual rate of return, Account value
Or 8% annual rate of return, Account value
Or 10% annual rate of return, Account value
Note: The values are based on the projected performance of the fund. Sind the fund performance may vary, the values of the units are not guaranteed and will depend o the actual investment performance at that given period. The projected returns on investments are based on assumed annual rates of 4%, 8% and 10%. These rates are for illustration purposes only and do not represent maximum or minimum return on the fund.
Philippine Wealth Balance Fund
This is the type of my fund allocation. Level of risk is moderate. The funds are invested in government bonds and corporate equities.
My Account Value
The account value of my funds may go up and down depending on the market conditions. I regularly view my account value in the AXA Philippines website (www.axa.com.ph). If you are an AXA insurance policy holder, you can log-in to the website by registering first in the website. There, you can access your account value, your monthly premiums/payments transaction, etc.
What I’ve noticed in my account value is that it decreases its value by over 50%. In 4months, the total money I’ve deposited in my AXA account is around 6,000 pesos (this is the capital invested) and now it becomes for about 3,000pesos. This means that the market condition is not good. The reason might be that the stock market and prices of bonds are going down. (This is where it teaches me a lesson.)
My Approach to My AXA Insurance
I cannot risk too much if the market continues to fall in the succeeding months. In spite of that, I spent all the money in my savings accounts where my insurance payments are automatically debited due to a particular needed payment for an occasion. That’s why I’ve planned to exit for this kind of insurance investments. You may think that I should withdraw the money in my insurance account? I can’t do that. It’s in the Product Transparency Declaration (Agreement) between AXA Insurance and me that I have zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge on the first two years. You can read the full AXA Insurance Product Transparency Declaration below. I don’t know how the fund managers played well the money in the market. I’m very young of age. I still have too much to learn regarding investments. It seems that I’m throwing away 1,585.84 pesos in the trash can every month.
AXA Insurance Product Transparency Declaration
Before you decide to invest in AXA Insurance, I think it’s very important that you know carefully its terms, conditions including the agreement or Product Transparency Declaration.
AXA Insurance Product Transparency Declaration
By signing off on the items listed below, I acknowledge that the same have been discussed with and thoroughly explained to me.
I understand that I am buying an investment-linked insurance product.
I understand that the principal and earnings are not guaranteed and the value of my unit investment (NAVPU) may go up or down depending on the performance of the separate funds.
I understand that the funds will be invested in Equities and/ or Bonds or a combination thereof, and will be subject to changes in market condition.
The available funds and the risks that they bear have been thoroughly discussed with me, and I have made my Fund Allocation decision based on my own judgment of and tolerance for these risks.
I understand that this product is appropriate for a long-term investment horizon.
I understand that I will have a zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge on the first two years.
My own young thinking about investment
Investment is about making your money grow as time goes by. Here are my own young thinking that helps me a lot about investment that will surely help you too in your financial journey.
Never rush in pouring your money to a famous insurance company. The name matters but what matters most is the performance, integrity and reliability that the insurance company carries.
At young age, invest first in entrepreneurship or business than stock market, mutual funds, investment insurance, time deposit, etc. The business that you create can earn 100% more than the said investment vehicles. If your business has grown enough that you can afford to set aside a specific amount of money to a certain investment vehicle, then go for it. Let your money work for you.
Your investment is the reflection of the level of skills and knowledge you have regarding money, business and relationship. Think of the richest men in the world how they became rich: Carlos Slim Helu (Telecommunications provider), Warren Buffet (financial investor), Bill Gates (entrepreneur/founder of Microsoft). That’s why never stop developing your skills and explore more knowledge about money and business. If you have skills in sports like Manny Pacquiao, develop and become a master of it.
Choose which investment you can earn the most. Real estate is better than mutual funds or investment insurance. Real estate has an average 12% annual profit. Mutual funds average is 8% or lower.
That’s all for this time. I hope you learn a lot. Just drop a comment below regarding your investment experience.
"My AXA Insurance Philippines Review" was written by admin under the Finance / Wealth category. It has been read times and generated 58 comments. The article was created on .
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Ang dapat kasi kumuha ng LONG TERM INVESTMENTS ay yung KAYANG mag monthly long term. Kung P2,500 monthly mo sa AXA, dapat yung ipang babayad mo dun eh yung pera na di mo gagamitin sa araw araw. Kung umpisa palang ang mind set mo eh "makukuha ko kaya pera ko dito in 2 years o 3 years" or "pano kung di na ako makabayad mababawi ko ba yung naihulog ko", ang masusuggest ko sa inyo ay mag SAVINGS ACCOUNT nalang kayo sa bangko. Ideposit mo ngayon kahit bukas mo pa yan iwidraw ok lang, ikaw ang bahala. Marami ako nabasa na sa 4th month tinigil na nya yung plan kasi luge daw, yung iba 3 years or 4 years pa ata. Pag ititigil nyo sya o susukuan nyo investment nyo kasi nakita nyo laman ng account nyo ay mas mababa sa naihulog nyo sigurado lugi kayo. Share ko lang, may nakausap ako na taga cavite, meron syang plan 2,500 ata monthly nya, sa AXA to ha, 2004 sya nag start, nung 2014 ang naging laman ng account nya ay 500k+. Bale ang ginawa nya winidraw nya nasa 250k tapos nag iwan sya para umikot pa yung investment. Ayon sa kanya nagbreak even yung nadeposit nya VS laman ng account nya nung 6-7th year ng policy nya.
I don't want to sound too rude by calling the one who posted comment number 54 a liar but her story about a lot of policy holders who are satisfied with their earnings after five years is unconvincing. I've been a policy holder of AXA Axelerator for 5 years and 5 months. My total contribution is 162,500 pesos. When I checked the account value of my policy online through My AXA Application, it's only 116,340 pesos and it keeps going down. I can see my hard earned money depleted day by day. That doesn't sound satisfactory at all. With that, I have no plans of keeping my policy beyond 6 years.
My advice to AXA agents reading this review and it's comments. First, BE HONEST to your clients. Tell them from day one that they could potentially lose their money. Second, determine their risk personality by making sure they are aggressive type of investors. Don't bother to convince the conservative like me with sweet talks that can raise the dead from the grave in the name of fat commissions. All of your false promises will go back to your company as you can see in the negative reviews and comments about AXA. Finally, before posting recycled lies about AXA policy holders enjoying the returns of their investments after five years, make sure that the likes of me who have been an AXA policy holder for more than 5 years don't exist.
Hello, I happened to read this article because im searching for a certain axa benefit that is called loyalty bonus for the policyholders on the 10th and 20th year. I only have simple question for those with negative comments because i noticed that you only focus on investment side where you can only enjoy the your policies after the paying period not in just months or years of paying. I also notice that you regularly check your account values even when you only paid in just months in which you cannot really enjoy it since there is still no gains realized within the first 5 years depending on the product that you avail. Investment is far different from trading. if you want to check the gains/returns just after months of paying, you should try trading, metrobank offers it and axa doesn't offer that. Trading is a type of investment where you manage to play your money depending on the company that you want to buy shares with. It applies only for short term period because you can withdraw anytime without charges. Others could have a broker to start trading. Investment is not short term, it is designed for long term horizons wherein you can benefit the most and realized the gains/returns of the policy after the contract. Since axa is an insurance company, you also pay for your protection.
Now my question is, didn't your Financial Executive in the Metrobank discussed the premium charges and cost of insurance charges of your policy??Because we are trained to be transparent in all the advantages and disadvantages in our products that we are offering. If your policy is axelerator, there is a 35% premium charges on the first 3 years of your payment. If it is a Lifebasix policy, the premium charges is 35% for the first 5 years. Your whole monthly payment doesnt go directly through the investments, just 65% of it for the first 3 years visavis. That is why AXA Phils has a surrender/withdrawal charges for the first 5 years to prevent clients from withdrawing the account value.
You are not at loss, just take the advise of the agent you talked to. The products you availed is really advantageous on your part, why? Because of the insurance/protection that has it in it. You still are in a win-win situation because, if something happens to the owner of the blog, which she owns a lifebasix policy, i think her minimum death benefit 400k pesos. So for example, she only paid 4 months, with a total of 6k+ pesos, then something happened to her, she died naturally, the four months that she paid is forfeited, but, her beneficiaries will be receiving 400,000 pesos as part of the contract that she signed. But if the blogger of this article lives for 10 years or more, and she paid for her policy in 10 years without any lapses, then she can already enjoy her investment, she can control already if she can withdraw her account value or just the returns that earned from her investment. She may opt to just stay her investment for how many years she may want because as long as her investment is with axa, then it still maximizes the earnings of the investment through compounding interest.
For the person who commented if we can show you facts that supports the others opinions? I'm sorry but we still follow the bank secrecy code. All the transactions made with axa and mertrobank are strictly confidential because it still involves money. But I tell you, being with axa for 5 years, there is really a lot of policy holders who are really satisfied with their earnings on the condition that they fully settle the paying period of their investment policy. Oh and i happened to update my client here earlier, she is a grandmother, a policyholder of axa for eight years and counting. So to give you an example without a name, she has a honeyfive pay investment product an upgraded version of axelerator, 5 years to pay with premium charges too. She applied for it last January 2008 with a monthly premium of 3,333.33 for 5 years, a total of 200,000 pesos. Her funds were split into Balanced Fund(60%) and Wealth Equity Fund(40%). So for 8 years and 7 months, her account value as of today is 347,653.73 pesos in just 3 years of not withdrawing the fund after she finished paying the premiums, she already has a return of 147,653.73 pesos. It doesnt mean that your 200k will earn this too, it still depends on the performance of the market but we assure you that it will maximize the earning potential of your money unlike parking it in just a regular savings account or even time deposits.
Please read thoroughly the policy contract because all of the benefits and charges are indicated and listed.
I am a Financial Solutions Officer in AXA Philippines. If you have concerns, just ask me.
I have also an account with AXA Insurance (Axelerator). Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. Insurance company will pay your loved ones in case of sudden illness or death and you dont have to worry about financially. This will act as income protection to our family and will take care of them until such time they can manage to replace the lost income.
As to any type of investment, there is possibility of gain as well as loss depends on the fund performance. One should have a clear goal before making an investment wether for long term, capital protection or cash flow. Check your risk appetite as well if you are agressive or conservative when it comes to investing. I also advise to set aside only the money you can afford to lose. Just in case there is downturn of economy there wont be much impact on your finances.
If you need that money in short-term then dont invest it otherwise if you have excess money you can invest it and let that money work for you. Be wise in making decision over your money. Remember every penny saved is a penny earned. Lastly no one plan to fail but one fails to plan.
Hi! The plan that you applied for is for 10 years onwards. It doesn't guarantee you a "double-your-money" overnight. To think that you have only paid for 4 months? If you know that you cannot risk for a long-term investment then you should not be investing in an Insurance Company where you can secure your family at the time of your demise. You advise us to invest our money in a business or real estate? What if I'm just a minimum earner and I can't afford to establish my own business or invest in a real estate? Even if I work for 10 years with a basic salary I can't still afford to apply on what you are suggesting. We are looking for an investment vehicle that will give us the opportunity to make our money grow just through our savings. That's why there is AXA. It allows me to be "DISCIPLINED" in my SAVINGS so that in due time, 10 years onwards, it had earned more than a 100% plus my family is also secured with income protection for 400k+ in case something happened to me. I will not really listen to you if you will be a financial advisor. I suggest that you have a research first about insurance companies before you react like this for you only prove us that you don't have any idea what long-term investment really is. Consider the people who cannot afford to have their own business or even a property. Consider the breadwinners who always tightens their belts just to provide everything for their family. Life Insurance is more than an investment. It's more than a peace of mind. It's security for your family's future.
gummy28, you have a good point and I respect your opinion. We suggest that you support your opinion with facts. We need facts and figures from your Axa account that makes it more valuable to invest.
Are you a policyholder of Axa? How many years have you been with Axa? Does your account value increase or decrease? How many percent do you earn from your Axa account recently?
Can you tell us stories from other people who have been benefited from Axa Insurance? Do you know how the Axa money managers play with your money or how they invest your money to different investment vehicles?
Read real sad stories from different people in the previous comments.
hi can you please help me.. im planning to withdraw my account at axa axelerator... i signed my policy on jan. 8,. 2015 is there a posible to withdraw my money? i deposited 30k already... please help me
Leo Cruz, you cannot withdraw all your money on the first two years. One of their Transparency Declaration states "I understand that I will have a zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge on the first two years."
My AXA experience is far worse than yours because my Insurance is Axelerator. 2500.00 php is automatically debited to my savings monthly. I was insure February 2011 and I'm planning to cancel my membership February 2015 next year by withdrawing my total fund. That will be my fourth year in Axa so I can now withdraw my money but with 10 percent surrendering charge. My fund balance is only about 80,000 php which is 40,000 less than my overall contribution plus the 10 percent charge. I know I could only take a small portion of my money but I'm afraid it will get worse if I don't cancel insurance. I cannot wait for year 2017 because I've lost too much money already and I cannot afford to lose even more. Their "long-term" promise is nonsense because no one knows exactly the condition of the market in the future. It's not an assurance. It's still a gamble. You could still lose your money. I really want to end my bond with Axa as soon as possible. And thanks to those Metrobank agents who convinced me to insured in AXA because I'm also planning to withdraw all my savings in Metrobank.
I'm very happy and satisfied with my AXA plan and its performance fro the past years. The performance of the investment part is so cool compare to other company that offer the same investment. This is much better compare to my 30 days Revolving TD.
I have the same sentiment about AXA. Mine is AXA Axelerator Premium. 2500 pesos is debited to my savings account every month. I've been paying diligently for more than 3 YEARS. My total payment is almost 100,000 pesos but when I checked my fund balance online at axa.com.ph, I was totally disappointed to find out that my total account value is only around 60,000 pesos. That's almost 30,000 pesos less than my total payment. A very painful loss in my part. The worst thing here is I can only withdraw my money without surrender charge in the 6th year or year 2017. So I will be throwing more of my hard-earned money in the trash bin for 3 more years. Just like many of you here, I fell to the sweet talks and false promises of the AXA agents in Metrobank. The promise that your money will grow fast only to find out that it's actually the exact opposite. Indeed it's AXELERATOR. ACCELERATOR of MONEY LOSS. I really regret of having myself insured on this. I should have kept the money in an ordinary savings account. It won't grow that big but at least I won't be throwing my money away. More things to worry about is that there's a video channel of AXA Philippines in youtube where the comments and ratings of the videos are disabled. This made me even more suspicious that this is a legal counterpart of a scam. Why are the comments disabled? It reminded me of the videos of height-increase and glutathione products where the comments of the videos are filtered if not disabled.
Hi! I'm a financial advisor from AXA Philippines. If you have any questions or you want updates from your policy please send me an email @ email@example.com or contact me @ 09257112548/09257481125. Thank you.
Hi there! I am now hesitant about this AXELERATOR Policy- Wealth Balanced Fund. My Account Value dropped over 50% in a year. I am not good with stocks or bonds but I know what I'm seeing in my account is not good. I've been paying 5,000php per month which is deducted from my savings account. I also thought that I can have a withdrawal after 2 years but then not. I was just trying to check if they're trustworthy with what they say. I am still weighing the possibility that I might stop this madness of paying every month and literally throwing it away. Should I freak out now? I also have an insurance in Sun Life and I think they are more genuine with their customers. But for now, I am still holding on with my AXA insurance. I hope a miracle will happen. lols
Hi! I'm a bit hesitant now about this Axelerator Policy - Wealth Balanced Fund. I am paying 5,000php every month which is deducted in my savings account. What I hate the most about it is they never send you an update through email which is for me the most important thing to do to your customers. And when I checked on my account in axaclick, my account value dropped 50% in a year! I also thought that I can withdraw cash on the second year but then now they said 3 years after. I am not good with understanding the stock market or bonds. So please guys, enlighten me. Should I freak out now? lols
This is a VUL product right? I'm a financial advisor from sunlife. Although i'm not familiar with axa products, VUL products almost have the same structure, with probably a few tweaks from different companies. Your agent should have explained to you the charges that will be deducted on your premiums. Since it is a VUL, charges for the insurance part are deducted from your premium mostly on the first few years that's why you have seen your fund deplete since you've held it for only a few months. You will only appreciate the fund values after a few years, 5 years or more. Well in the first place, your goal should be clear before diving into this kind of investment. If it is income continuation for your family, retirement fund, or other long term goals, then it's a good investment.
HI Jhang,i think we have the same problem same i also have axa saver 5 day and it will end this 28th of the month,its not clear what will be the benefits .keep calling them and they keep asking me the pin no.idk whats that.could someone help me?i dont know what to do
Hello:-) to the present Kumusta na ang performance ng ini invest mo sa Life Basix insurance? have u got a positive result,im interested to know,kc naoferan din ako ng life Basix kaso nga lang iniisip ko kung itutuloy ko o hindi. your reply will be much appreciated,thank you.
Hi, its a good thing that I read this before surrendering my policy I have the form fully filled up that I downloaded. Im currently jobless and spending my savings for the past 3 months, paying rent, food, fare, st peter plan (casket) and now I'm on my grace period with AXA.... I read alot of blog with regards to surrendering their policy and there still a great number of people who hold on to their investment and was very happy with it.. it may perform low now.. just hold on and continue... at the end of the road its still a force saving that you made for your family... this just made me realize that I should hold on my AXA policy.
Hello everyone!!!i just read this discussion and im also interested to know about axa insurance since im also have 1 policy which is axa saver 5 pay and 100,000 insured..i have a quarterly pay of 3474.82 and 13,899.28 annually. its seem i just entered to this a kind of investment which not so cleared to me about the benefit on living but the only i came out on my mind is that the death benefit and also enjoy for living benefit..but since for the past 4 yrs i pay and im going to reach on 5 years plan this nov 2014 i have no idea on what will be the benefit i recieved to this axa saver when i reach 5 years im going to end my plan at age 28 while stated there i can enjoy when u reach at age 65..i also doubt of my money i pay to axa if this gain on my side or it just i wasting money. could anyone give me some idea about it, if its better to continue my saver pay or i have to withdraw my policy.?
so what you just applied yesterday? will it be possible to that i could still get the initial saving? its just 2k a month but they will be deducting that amount w/ my ATM every 25th.. i dont want this anymore after reading this article. how can i stop this?
Rian, if you want to stop, remember that you cannot withdraw your money for the first two years as an AXA insurance policy holder.
If you want to stop or cancel your account, just talk with your insurance agent. And also remember that insurance agents are there to sell insurance products to earn money. Keep in mind of the sweet talk of insurance agents.
23apollo allan q malimban(11 September 2012 9:03 PM)
i am a policy holder of an educational plan for my daughter.... she's turning 16 next year June 5, 2013 but the certification i received from your company reads that she will start receiving her check on June 2014...Howcome
AXA's Plan Life Basix and Axelerator are long-term investment. You cannot realize your money on its first few years.
It's a LONG TERM. It's a disciplined savings. It's designed to reach your long-term goals.
People tend to save regularly for their future, for their kid's education, some already sets aside by the time they get old, and also save to make sure that their family has the money in case the bread winner dies.
Let's admit it. Death is unpredictable.
Situations that are really happening or could happen: Responsible families are saving, but sometimes due to unavoidable circumstances, they get to spend their savings and end up a zero savings. It should be clear that every individual has its short-term savings for emergency purposes and long-term savings for their goals. AXA will answer your long term savings. --------------------------------------------------------------------------------- ------------------------- And so, a responsible father started saving 10,000/month for his wife and 3 kids. After 2 years, unexpectedly he died. His family will be getting what he saved from the bank, a Php 240,000 LESS TAXES. AXA Philippines will give you a guaranteed insurance coverage of 500% of your premium. --------------------------------------------------------------------------------- ------------------------- Another thing, a client saved her 150,000 in her savings account for 9 years. (2003-2012) How much did she get?! Php 500.00! If that was invested with AXA, it could have been doubled! Investing in AXA has higher yield potential.
Hi everyone! I'm a financial advisor with AXA. In my 3 years of working with this company, I've never had any complaints against AXA. I think I know very well why your account value/balance became such. I'm not aware what your agent has discussed with you and even if I won't get a single centavo for this, I feel the need to help you guys. I will try my very best to answer all your queries. Please feel free to send me an email: firstname.lastname@example.org or call/text me via 09294710766.
Thanks for the reply khen! Yep, Lately I'm reading a lot about financial management. And it really helps me a lot. But in your own opinion. What should I do khen? Do I need to wait for two years in order to get my money back? (but i think it is not 100%) or just change my policy to a term insurance policy? What happened to your policy? Did you continue it? Thanks!
changing your policy to a term insurance isn't a wise plan of action. there are no living benefits so you or should I say your BENEFICIARIES will only benefit from this kind of insurance-term when you die. term insurance is mostly provided by employers.
Sir your right about that, I also have the same policy with axa, and I'm thinking of cancelling it after reading the "The Wealthy Barber", because I realized that I really dont need an insurance. Im 24 yrs old and paying semi anually for the policy, Im about to pay the half premium this April and I want to talk to my insurance agent about it. Do you have any tips or suggestions? Am I right about cancelling it? I really want to quit the policy but I want money back as well, What's the safest and easiest way to quit the policy with the assurance of getting your money back even if its 75% but not lower than 50%?
jc, you are really a well-read and you are too young to risk for an investment with lower returns. You cannot get your money back if your account has not yet reach 2 years. In other words, within the first two years of your AXA policy, you cannot withdraw your money because it's in the Axa's Insurance Product Transparency Declaration that you will have a zero (0) withdrawable value during the first two years of the policy because the amount withdrawn will be subject to 100% surrender charge to AXA on the first two years.
If you have enough money to risk with AXA investment, you can continue to pay your monthly premium. Investing in AXA is a long-term game. Stock prices increases in value in the long-term. But you should be aware of a coming financial crisis in the future. Your account value may turn into zero value as what other people experienced.
see that's the point, the earlier you start investing, the better. why? think of this, if you're paying your SSS monthly, when can you avail of the pension? @ age 60 or 65 right? but do you think the pension you'll be getting from SSS is enough to support you and your partner when you are no longer capable of working? think also of inflation. will our PHP1000 have the same buying power years from now?
hi i am interested of getting one for my son. I was told that even though the market will go down it wont affect my money bcos i told the agent of my doubts and my understanding of the policy but she assures me that my money will earn. I am going back on March 15 to sign for the premium for my son, glad that I have read this. I will make sure that I understand the policy before signing up.
agents will always say positive words. How can they earn money/commissions if they told you terrible insurance experiences?
It happened before that every global or local financial crisis, your insurance account value will go down or worst will be dissolved to zero.
In 2009, many insurance investors suffered too much losses. They accumulated more than millions of their account for many years but not until 2009, their millions were turning into thousands and many into zeros.
You must be ready to face the risk in investment insurance. Always monitor your account. You must also be ready if a financial crisis is approaching.
Yes, you can earn with your insurance account. Like any other investments, you must closely monitor its performance. If it's time to withdraw, do it. If it's time to pour more money, do it.
Make sure to fully understand the details of the policy before signing up.