Client Story – Instant Credit Line

When my client opened her traditional policy with me in 2014, she was still single

You see, not all claims in our life insurance policies should be morbid

Like I told my client, her plan can be a credit line

How?

On the 3rd year of paying the annual premium,

her plan starts to create a guaranteed cash value,

and it grows as she pays the premium

The insurance company guarantees this amount — whatever is in the contract is what you’ll get in real-life

So sabi ko sa kanya, kapag kailangan mo ng pera, pwede ka mag-loan sa iyong cash value

The interest varies from 8% to 10% a year,

but when you are ready to return the money,

Sun Life will only compute the interest to be paid by the number of days you borrowed it

So fast-forward, kinasal siya noong 2017

and in 2018, manganganak na siya sa kanyang firstborn child

Sabi niya, nahihirapan siya mag loan sa bangko ng Php50,000

pndaming hinihingi eh ang liit lang naman ng amount

Saka niya naalala na pwede nga pala siya mag loan sa cash value ng kanyang Sun Life Policy

I called Sun Life and asked how much is the maximum loanable amount that she can borrow without lapsing her policy

It was around Php80,000

Sabi ni Client, 50,000 lang ang kailangan niya

She went to the office in Makati, signed one form 

And in 5 business days, she already has the cheque!

She was able to return the amount plus interest, in 3 months

Nawili… 🙂

Fast-forward 2020, she again needed to borrow from her policy

for the birth of her twins and the money helped in paying

the 2-million hospital bill

Her twins were premature and were in the NICU

Ika nga, gamit na gamit ang cash value ng policy niya

Who said a life insurance policy can only be used at death or sickness?

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