Wag na tayo mag-iwan ng gastusin sa parents natin, please. Pagkatapos nila tayong itaguyod at palakihin, sila pa ba pagbabayarin natin ng final expenses natin?
(READ MORE: A Beginner’s Guide to VULs)
How much does a VUL really cost?
When I went to conduct a free financial literacy seminar to my friends in Jesus Christ, The Name of God community, they expressed that they all want to start opening a VUL account – but the financial advisor they first met gave them proposals that they couldn’t afford.
To give you an idea, for Sun Maxilink Prime VUL (minimum), here are the premiums per year. If you are a:
– 25-year old, female, non-smoker: P16,800 per year
– 35-year old, male, smoker: P26,400 per year
– 45-year old female, non-smoker: P27,000 per year
(READ MORE: Sun Maxilink Prime – For Your Retirement)
Get a VUL when you’re still young and healthy—it’s easier to get and less expensive.
What are 5 items that are more expensive than getting your own VUL account?
Remember, for a 25-year old female who doesn’t smoke, Sun Maxilink Prime is only P16,800 per year. This is roughly P1,400 per month only!
In simpler terms? It’s just as small as P47 per day.
1. Gourmet Coffee
Getting a tall cappuccino per day is P110 per day.
I know a 24-year old non-smoker woman who told me that she doesn’t want to get a VUL because it’s too expensive.
Pero na-complete nya ang Starbucks planner last year. 🙂
Monthly Cost: P2,750/month
2. Milk Tea
If you get a milk tea (the safe one!) without any sinkers, it’s P80 already.
I have nothing against milk tea. I actually love the Wintermelon Tea.
But make sure that you get a VUL first before consuming milk tea. Have you heard the news of someone who passed away because of it? Mahirap na.
Monthly Cost: P2,400/month
A pack of cigarettes cost P60 daily.
Aside from the medical expenses that you may spend because you smoke, also consider the dangers of second-hand smoking that you are giving to your loved ones.
Not to mention also that cigarettes carry a higher price because it’s considered a “sin product”.
Monthly Cost: P1,800/month
4. Weekly buffets
Assuming you eat weekly at buffets, this is P600 per week, so P2,400 per month = P80 per day!
Why not lower it from 4 times a month to 2 times a month instead?
That P600 per person buffet can feed you for only 3 hours.
But if you invest it for the future, it can feed you for a number of years because your money will work for you.