00:35.5
How do we assess your debts and obligations?
00:42.3
So how do we assess that?
00:44.1
Una, titignan natin meron ka bang outstanding mortgage balance?
00:48.4
Meron ka bang utang sa iyong bahay?
00:52.7
Tapos tignan mo rin kung meron kang mortgage redemption insurance.
00:56.1
Gaya ng tinanong ko kanina kay Helen.
00:58.5
So sa pag-ibig kasi, automatic yun na may MRI, mortgage redemption insurance.
01:04.6
So kung meron ng MRI dyan, hindi mo na kailangang i-cover yung outstanding mortgage balance na yan
01:11.9
dahil covered na nung MRI.
01:15.2
Titignan mo rin meron ka bang personal loans, car loans, and credit card debt
01:19.4
na pwede mong maipasa sa mga, maipapasa yan sa mga beneficiaries mo
01:25.8
o kaya maibabawas sa estate mo.
01:28.5
So tignan mo whether these are clean or collateral-free.
01:32.6
Anong ibig sabihin yan?
01:34.4
Walang nakataling collateral doon.
01:37.7
Kasi kung walang nakataling collateral, hindi naman sila makakahabol sa iyo dahil patay ka na.
01:45.3
Unless nakalagay doon na they will go after your estate.
01:50.3
Business loans, kung kayo ay sole proprietor, kasi diretso yan sa iyo kapag sole proprietor ka.
01:56.6
Kapag kumpanya kasi,
01:58.5
hindi yan, hindi kasingilin agad eh.
02:01.4
Yung kumpanya yung sinisingil, hindi yung tao mismo.
02:05.9
And then, any other debts that would need to be covered.
02:10.6
After this, i-assess natin yung iyong obligations.
02:14.7
Yan, funeral and burial costs.
02:19.6
Uy, sabi ni Lilibet, so parehong gastos sa living at tulong na rin sa kanila yung benefits na makuha nila.
02:28.5
Iyon yung sinasabi natin, Lilibet, ano.
02:32.5
Kung ang, parang ang ginagawa kasi ay okay, yung buhay ko, pag nawala ako,
02:39.7
ayan yung makukuha nyo, itutulong na lang sa kanila.
02:43.4
Hindi naman masama yun, pero kung napapagastos ka pa dahil dyan,
02:49.6
hindi siya economically sound, no?
02:52.8
Pero kung panggastos sa living, ayan, nakalagay dito.
02:56.3
So, funeral and burial costs, dapat ay kasama yan dun sa insurance, life insurance coverage natin.
03:04.3
Naka-include siya, naka-compute siya, ibig sabihin.
03:08.1
Income replacement to maintain living standards of your dependents.
03:13.1
Future education costs of your children.
03:16.6
And any other financial obligations that would need to be covered.
03:22.4
So, computan natin.
03:27.1
Titignan natin, ha?
03:28.2
So, ang una ay, let's say, mortgage.
03:33.0
So, meron tayo itong sa mortgage, no?
03:34.9
So, itong mortgage natin, meron pa tayong balanse na 3 million pesos.
03:42.1
Pero, kung may mortgage redemption insurance tayo,
03:46.9
zero na yan, hindi na natin kailangan kumuha ng life insurance coverage for that.
03:53.6
Kasi covered na ng MRI.
03:55.6
Kung walang MRI yan, then ilalagay mo dito 3M.
04:02.8
Ganun yung proseso niyan.
04:07.8
Next, personal loan.
04:10.2
Kumari, meron kang 500,000 pesos na personal loans.
04:16.4
May collateral ba yan?
04:19.6
So, kung clean loan naman siya,
04:22.4
hindi na natin siya kailangan i-cover.
04:26.5
Kasi, wala namang,
04:28.7
hindi naman sila makakapaghabol na sa'yo dahil patay ka na.
04:33.7
Car loan, for example,
04:36.0
1 million pesos yung utang mo pa.
04:45.4
Pero, pwede mo rin isipin na,
04:47.4
eh, syempre, sanay na yung mga dependents mo
04:50.9
at sya ka yung asawa mo na merong silang sasakyan.
04:57.6
Ma-i-ano na natin siya.
04:59.2
So, ikaw magde-decision yan.
05:00.5
So, dito sa nilagay natin ay,
05:03.1
we decided na, okay, yung 1 million na yan ay
05:07.6
dun sa mga kailangang i-cover.
05:09.6
Yung credit card na 50,000 pesos,
05:13.6
Kung clean, zero.
05:15.6
Pero, kung yung credit card mo ay tingin mo hahabulin ka niya
05:19.6
at ano niya sa estate mo yan,
05:21.6
ay ilalagay mo yung 50,000 dyan.
05:23.6
Pero, based on my experience, no,
05:25.5
ay hindi naman naghahabol yung credit card company
05:28.0
pag namatay na yung isang tao.
05:32.0
Kapag ito ay sole proprietorship, no,
05:35.0
may 2 million pesos ka dyan na utang,
05:38.0
well, kailangan na ma-cover mo yan.
05:40.5
Yung 2 million pesos na yan.
05:42.5
Kasi, baka singilin, no?
05:44.5
Kung sole proprietor ka,
05:46.5
sisingilin yan against your estate.
05:49.5
Tapos, yung funeral and burial cost mo, ayan.
05:52.5
So, i-dadagdag natin siya kayo dyan.
05:57.0
So, yan yung ating assessing the debt part.
06:01.5
And the obligation.
06:02.5
Tapos, tignan natin yung income replacement.
06:04.5
Paano ba siya kinocompute, no?
06:06.5
So, income replacement equals
06:09.5
21 minus age of your youngest dependent
06:13.5
times your annual income shortfall.
06:17.5
So, yung maximum natin ay
06:20.5
10 years of the annual income shortfall.
06:24.5
So, kung ano yung lalabas dito na figure,
06:27.5
pag sinubtract natin siya,
06:31.5
kudwari, ang lumabas ay 12.
06:35.5
Hindi natin gagamitin yung 12.
06:37.5
Maximum lang siya ng 10.
06:42.5
Option to subtract the annual income of the spouse
06:45.5
if they also have source of income.
06:47.5
Pag tinitingnan na natin itong annual income na shortfall natin.
06:53.5
Tapos, tignan natin ng example, ha?
06:55.5
So, kung nga rin si Cillian, no?
06:58.5
Si Cillian, ang youngest child niya ay 5 years old.
07:02.5
At kumikita siya ng 50,000 pesos per month.
07:06.5
Yung kanyang wife, nag-earn ng 10,000 pesos.
07:09.5
O part-time na online transcriber siya.
07:13.5
Kapag namatay si Cillian,
07:15.5
at yung kanyang...
07:17.5
Kapag namatay si Cillian,
07:19.5
yung asawa niya at yung anak niya
07:21.5
ay makakakuha ng 7,500 pesos per month
07:26.5
na survivor pension mula sa SSS, no?
07:29.5
Kaya mahalaga na tayo ay nagbabayad ng ating SSS.
07:35.5
Kasi nakakatulong siya.
07:38.5
At meron din silang rental property
07:40.5
na nagdegenerate ng 12,500 pesos per month.
07:46.5
So, titignan natin ngayon ilang years
07:48.5
yung kailangan niya na i-cover.
07:49.5
Tapos, magkano ba siya?
07:50.5
Tapos, magkano ba yung annual income na...
07:53.5
annual income shortfall?
07:57.5
tignan natin yung income replacement muna.
08:01.5
monthly income ni Cillian, sabi natin.
08:04.5
Isusubtract natin dyan yung
08:07.5
monthly income ni wife.
08:09.5
Kasi, makakapagtabaho pa rin naman si wife
08:11.5
kapag namatay na siya, diba?
08:12.5
So, may minus 10,000 yun.
08:14.5
Tapos, yung survivor pension
08:18.5
So, minus 7,500 yan.
08:21.5
And then, yung kanilang rental property
08:24.5
na 12,500 pesos per month.
08:27.5
So, ang kanyang income shortfall ay
08:33.5
Kung i-multiply na natin yan by 12,
08:36.5
240,000 pesos na yan per year.
08:41.5
So, income replacement niya ay
08:43.5
21 minus 5 years old.
08:47.5
So, ang maximum pa rin niya ay 10.
08:49.5
So, yung gagamitin natin ay maximum na 10.
08:52.5
Okay? So, ang income replacement ay
08:54.5
10 times 240,000.
08:56.5
Yung 240,000 na yan ay galing sa
09:03.5
So, 10 times 240,000
09:06.5
is 2.4 million pesos.
09:11.5
So, yan yung shortfall na kakailanganin.
09:17.5
So, yung income replacement ay 2.4 million.
09:20.5
Dinagdag na natin, 2.4 million.
09:22.5
So, ang education niya,
09:26.5
nag-budget sila ng 2 million pesos.
09:29.5
So, ang total na debts and obligations niya,
09:32.5
nakita natin sa analysis natin ay
09:35.5
nasa 7.6 million pesos.
09:38.5
So, ibig sabihin ba,
09:39.5
ayan yung kailangan niyang lagyan ng life insurance?
09:43.5
Oo, nasa first step pa rin kasi tayo eh.
09:45.5
So, ang first step natin is
09:47.5
assessing your debts and obligations.
09:50.5
isusubtract natin yung kanyang existing assets.
09:54.5
So, for example, itong Sicilian ay mayroon siyang
09:58.5
pag-ibig MP2 na worth 500,000.
10:01.5
Oo. So, ilalagyan niya yan.
10:04.5
May business asset siya na 3 million.
10:08.5
Ang i-include lang natin yung 2 million pesos.
10:15.5
kung kunwari, ibibenta nila yung business nila,
10:19.5
baka hindi nila makuha ng buo yung 3 million eh.
10:22.5
Baka 2 million lang.
10:23.5
Kaya, to be conservative,
10:24.5
2 million lang yung i-coconsider natin sa business assets niya.
10:28.5
Meron din siyang lupa na pwede naman ibenta
10:31.5
kapag siya ay namatay
10:32.5
para mayroong panggastos yung kanyang mga nahiwad.
10:35.5
Pero, dahil baka distressed selling of asset yan,
10:37.5
biglahan, o baka ano man, no?
10:40.5
1 million pesos maging 500,000 pesos.
10:43.5
To be conservative lang, no?
10:44.5
Kung magkano yung mapagbebentahan niya.
10:46.5
Meron siyang binili na 50,000 pesos na memorial plan.
10:51.5
Pero, worth 250,000 talaga yan
10:54.5
kapag binili siya at current market value.
10:58.5
May life insurance din siya na 12,000 pesos.
11:02.5
12,000 pesos lang yung binayaran niya.
11:05.5
Pero, ang makukuha pag siya ang namatay ay 2 million pesos.
11:10.5
So, magkano yung magiging total assets to include niya?
11:13.5
Pag in-add natin lahat ito,
11:16.5
5,000, 5,250,000 pesos.
11:21.5
So, yan yung ano natin.
11:24.5
Yan yung situation.
11:26.5
So, ire-review niya ngayon yung kanyang insurance policy, no?
11:32.5
So, kailangan, baka kasi meron pa siyang insurance policy
11:38.5
na pwedeng maka-cover doon, no?
11:42.5
So, yung life insurance niya na 12,000, yan yun.
11:45.5
Yung life insurance na yan.
11:47.5
So, yung third step natin is to cover the gap with insurance.
11:54.5
Ang na-compute natin kanina na total outstanding debts and obligation niya ay 7,650,000.
12:00.5
Pero, ilalagay natin yung total assets na i-include sa kanya
12:04.5
plus yung current na insurance niya na 5,250,000.
12:08.5
Therefore, ang insurance gap for the year,
12:11.5
na kailangan na lang ni Cillian ay 2.4 million pesos.
12:16.5
So, yan yung kailangan lagyan niya ng additional na insurance.
12:23.5
For this year, kasi inu-audit natin siya this year.
12:26.5
How about for next year?
12:30.5
So, how much insurance coverage should Cillian get next year?
12:34.5
So, dito ang mangyayari dyan, kasi diba yung previous life insurance coverage niya ay 2 million pesos eh.
12:40.5
Yun yung i-include natin kanina.
12:42.5
Plus yung insurance gap na 2.4.
12:45.5
So, for next year, 4.4 million yung kakailangan niya na bilhin na insurance.
12:52.5
Ayan. Okay. Sige.
12:55.5
I-ano muna natin siya, i-internalize muna natin siya.
12:59.5
Nasundan niyo ba yung ating computation?
13:05.5
Habang i-internalize niyo siya, sagutin ko lang itong mga questions niya.
13:09.5
Sabi ni Lily Beth, if living working abroad, advisable ba na makumuha ng health insurance sa Pilipinas?
13:17.5
Hindi. Kasi ang health insurance ay effective siya kung nasaan ka.
13:24.5
So, kung nasaan ka, Helen, dapat doon ka kumuha ng health insurance.
13:28.5
Hindi yung nandito doon sa Pilipinas.
13:30.5
Pag uwi mo ng Pilipinas at kailangan mo ng health insurance, then doon ka bibili. Okay?
13:37.5
Ano yung advantage ng buying insurance from the co-op instead of insurance companies?
13:45.5
Well, yung kooperatiba kasi ay medyo nandun siya sa not-for-profit na category.
13:52.5
Kapag bumili tayo diyan ay nakikibahagi tayo doon sa cooperative movement.
14:01.5
Yung sa insurance companies, sila lang yung makikinabang.
14:06.5
Ano yung pagkakaiba ng endowment sa whole insurance?
14:13.5
Yung whole insurance, sabi si Maha, yung whole insurance ay covered ka until you die.
14:21.5
Whatever age that you reach, covered ka.
14:25.5
Yung endowment ay may kasamang savings.
14:29.5
Usually, may maturity yun.
14:32.5
Yung maturity niya sa endowment is...
14:36.5
Kapag nag-mature siya at hindi ka namatay, then ibibigay nila yung endowment money sa iyo.
14:44.5
Kapag naman doon sa whole insurance, wala siyang maturity kasi ang maturity ay yung death mo.
14:53.5
Sabi ni Ces, ano po ang difference ng co-payment versus deductible?
14:59.5
Medyo nalilito po ako sa dalawa. Okay.
15:01.5
So yung co-payment is...
15:04.5
In a sense, medyo similar sila.
15:08.5
So yung co-payment ay kailangan magbayad ka bago sila magbigay ng kanilang contribution.
15:21.5
So for example, for medical emergencies, meron kang P110,000 na co-payment.
15:33.5
Pag dumating na yung bill, at dumating yung bill ay say P250,000.
15:39.5
Yung P240,000, iko-cover ng insurance company.
15:45.5
Pero ikaw ay may co-payment na P10,000.
15:50.5
So ikaw ang magbabayad nun.
15:53.5
Yung deductible naman is...
15:56.5
Parang ganun din yung function niya.
15:59.5
Reverse lang yung presentation.
16:01.5
Ipipresent lang nila na P250,000 yung bill mo minus the deductible na P10,000.
16:10.5
Yung deductible, ikaw ang mag-shoulder nun.
16:14.5
Tapos yung P240,000, yung insurance company yung magbabayad.
16:20.5
So yung concept, actually halos pareho lang siya.
16:24.5
Sabi ni June, working abroad, need pa ba kumuha ng life-term insurance sa Pinas, Sir Vince?
16:30.5
Okay, actually this is where the tricky part is.
16:34.5
Bawal actually bumili ng insurance kung wala ka sa Pilipinas.
16:43.5
Pero sagutin ko muna yung tono mo.
16:46.5
Working abroad, need pa ba bumili ng life-term insurance?
16:49.5
Kung nandun ka sa sinasabi natin na may dependents,
16:54.5
then kailangan mong bumili ng life insurance.
16:58.5
At saan ka bibili ng life insurance?
17:02.5
So kung nasan ka ba June?
17:04.5
Kung nasa Europe ka? Kung nasa Saudi ka?
17:06.5
Doon ka bibili. Okay?
17:08.5
Kung nasa Saudi ka tapos bibili ka ng life insurance sa Pilipinas, bawal yun.
17:15.5
Dapat nasa Pilipinas ka pag ikaw ay bumili nung life insurance na yan.
17:22.5
Kasi kailangan, yung pagbibenta ng insurance, may lisensya dapat yan eh.
17:27.5
Eh yung mga insurance agents sa Pilipinas,
17:29.5
wala silang lisensya na magbenta sa'yo dyan sa Saudi o dyan sa Europe kung nasaan ka ba.
17:38.5
Pero yun, sana nagpuhan nyo yung ating calculation kung magkano ba yung kakailanganin na insurance talaga.
17:50.5
Sa medical insurance naman, ang maximum natin dapat dyan kukuha tayo ng ating PhilHealth.
17:58.5
Tapos, dagdagan natin siya ng one-year worth ng salary natin na coverage ng emergency care for serious illnesses.
18:12.5
So kukuha tayo niyan, emergency care for serious illnesses.
18:16.5
Tapos kukuha tayo ng HMO for preventive healthcare.
18:19.5
Tapos kumuha na rin ng critical illness coverage kapag mayroon kayong history with the family history.
18:27.5
So katulad ko, yung nanay at tatay ko ay parehong naoperahan na sa puso at meron silang pareho na rin silang na-stroke.
18:36.5
Ay hindi si mama, hindi pala na-stroke.
18:38.5
Si papa na-stroke, si mama pareho silang hypertension, ganyan.
18:44.5
Kaya kumuha na ako ng critical illness related to that.
18:47.5
At yung insurance premiums, nako napaka...
18:50.5
Tapos yun, i-augment natin ng health fund.
18:53.5
Sa totoo lang, dahil hindi pa nga okay yung ating universal healthcare,
18:56.5
mas maganda na mag-ipon ng health fund para dito.
19:03.5
Kasi kapag nag-medical insurance tayo, pagtanda natin ang mahal-mahal niya.
19:09.5
So yung insurance premium, magkano lang ba dapat yan?
19:14.5
Ito yung guidelines natin sa premium per 1 million pesos.
19:20.5
So i-multiply niyo lang yan kung ilang million yung bibiliin niyo.
19:23.5
Kunwari, 3 million pesos.
19:25.5
Sa example natin kanina, 2.4 million pesos yung kailangan ni Cillian.
19:30.5
At si Cillian ay let's say 40 years old.
19:33.5
Sabihin natin nasa 8,900 siya.
19:36.5
So 8,900 times 2.4.
19:39.5
Yun yung maximum na i-expect natin na premium payment na babayarin.
19:46.5
For life insurance, sa term.
19:48.5
Mura-mura lang siya.
19:54.5
Typically 10% of the benefit or coverage.
19:57.5
Yun yung maximum na premium na binabayaran kung mag-isa ka lang.
20:01.5
Kasi kapag company or group kayo, mas mura.
20:07.5
Emergency care, approximately 20,000 pesos per 1 million na coverage.
20:13.5
Like for me, I'm 45 years old.
20:16.5
Meron akong 1.5 million na coverage for emergency care.
20:20.5
Itong emergency care, kailangan ma-hospital talaga ako bago po.
20:23.5
Ma-enjoy yan or makuha yung benefit.
20:26.5
Ang binabayaran ko ay 30,000 pesos kasi 1.5 million siya.
20:31.5
Property insurance, nasa 1,200 pesos per 1 million worth ng property.
20:40.5
So kunwari, 10 million pesos yung bahay mo, nasa 12,000 pesos yung property insurance.
20:48.5
Kapag comprehensive auto insurance naman, nasa 15,000 pesos.
20:52.5
Per 1 million of coverage.