Thus, as you look ahead, be assured that Insular Life will guide you, as you advance from one life stage to the next. This can be viewed in our website, www. Unlike other investment vehicles, VUL products not only provide benefits for your needs while you are still alive. Equally important, these vehicles give benefits to your loved ones, if you are no longer around to finance their needs. This is why it is best known as a wealth protection product.
- Bailando en la oscuridad (Grandes Novelas) (Spanish Edition).
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For the living benefits that VULs can offer, best are those you will need in the long-term. Examples are wealth accumulation for education, health, and retirement funding. Being a life insurance product, the living benefit fund value or the death benefit of VULs are not subject to garnishment; therefore, the investment placed by the policyowner and the earnings and proceeds from his investment are protected from creditors.
Based on recent competitive studies and research, Insular Life has one of the lowest fees and charges including insurance charges on a VUL product. Are there charges to be deducted from my premium on a VUL policy? Similar to other investment vehicles, yes, there are charges and expenses to be deducted from your VUL policy.
These are as follows:. What are riders? Insurance policy riders are additional layers of protection available for an additional cost. You get a rider when you want a benefit that your basic policy may not cover. When we acquire something, we usually want to customize it according to our own needs. Riders are add-on benefits that can personalize your insurance coverage. The amount can be used to partially pay for room and board upon confinement.
Note that not all riders may be acceptable to your insurance policy.
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To find out if your desired rider can be attached, seek the assistance of your Insular Life Financial Adviser. What are the available funds to choose from? Insular Life's VUL products may be placed in any of the following funds depending on your investment objective and risk appetite:. Equity Fund - seeks to provide an individual with long-term total return and capital appreciation by investing in dividend paying shares of local companies, across all sectors of the market listed in the Philippine Stock Exchange, as a representation of the domestic economy.
Growth Fund - seeks to provide an individual with a vehicle for long-term growth and capital appreciation by targeting companies in specific sectors listed in the Philippine Stock Exchange, with the potential to outperform the domestic economy. Select Equities Fund - seeks to provide long-term portfolio growth and capital appreciation by primarily investing in ten 10 of the most liquid and well-capitalized dividend paying stocks listed in the Philippine Stock Exchange.
Guardian Fund - an actively managed fund that seeks to provide long-term portfolio growth and capital appreciation by initially investing in ten 10 companies deemed to be the next set of the most liquid and well-capitalized dividend paying stocks listed in the Philippine Stock Exchange. Balanced Fund - invests in government securities, bonds issued by, and term loans extended to, prime Philippine corporations, and short-term money market instruments, and in prime rated stocks that are listed in the Philippine Stock Exchange.
Fixed Income Fund - seeks to provide long-term capital preservation from stable and predictable interest payments. You get a return on your intellect if you remember the ROIs, and if you choose well and you resonate with the people with whom you're working then you can build that great return on interaction. Kevin Whelan: So many different powerful ROIs that create incredible extra value, so even if you never want to be a developer I'm not saying everybody wants to be a developer.
That's not what I'm saying.
I'm saying you can understand that as an exercise in forced appreciation, in creating more certainty where everybody else is fearful of the uncertainty of markets. Does that make the point? Chris Rodwell: It does, and we have a number of examples of members in the WealthBuilders community in the Facebook group sharing similar stories. Chris Rodwell: Okay. What about any of the other pillars?
Is there another way that you can think someone could add some value or learn how to be a value creator? I mean, one of my favorites is understanding the principle of the lifetime value of a client. I don't think I've covered that one before, Chris, so that might be a new one. Kevin Whelan: Yes, it would be in business because Well, you could actually apply the lifetime value of a client to a property because if you built a property portfolio you would work out, "Well, how long does this property get tenanted?
Kevin Whelan: That's probably one of the main reasons why people like that, but in business I see a lot of business owners and I'm a business owner myself, and one of the things I noticed about business owners is there are three types of business owner. No, it's not the drifters, and the DIYs, and the dynamics. It's three different ones. Kevin Whelan: There are those who are almost craftspeople.
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People who are doing the job they love and they do it as if they had a job but they're doing it on their own terms, and that's okay but it doesn't create wealth because you're constantly trading your time for money. You're doing it, and then you're invoicing it, and then you're checking, and that whole process. Lifestyle businesses, that's not really great place from a wealth building perspective but it's great to give time freedom, and so that's a good thing.
Kevin Whelan: The second are those who are what I call profit chasers.
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What I mean by profit chasers is they have a business, and they do the work, and then they make profit, and then they do the work and they make profit, but it's still trading time for money. It's not uncommon for accountants to do that or lawyers to do that. It's still an hourly rate, but they've got sort of partners in one hourly rate and Kevin Whelan: Yeah, it's all transactional.
What I prefer to do is look for businesses both to work with investing or build that have a different characteristic altogether. That's to sit down and look at, what is the lifetime value of a relationship with a well-served client where you deliver exactly what you promise and you focus on the consistency of delivering to them the value they are seeking? Now, that was a mouthful, so let me break it down. Kevin Whelan: It's self-serving to have a business that focuses on the lifetime value of the client because if you've got a business, let's say I have a business, okay.
I'll mention it because I'm very proud of it. It's a business that provides the support both in terms of compliance and reporting to SSAS trustees, pension trustees, those people who have taken their pension, they've completely changed their relationship with their pension, turned it into a special kind of a pension we call SSAS.
That wonderful, small self administered scheme, which is the worst marketing title in the world, but none the less We look after a large number of people. Now, let me just give you an example. Kevin Whelan: Let's say, just to make numbers up and make them very round, if the average SSAS client holds their money in their pension for their lifetime and then they pass it on to their spouse, and then they pass it on to their children because it's a trust fund for the family, now even It doesn't matter what timeframe you put on it, but if you put on a timeframe of 30 years, let's say, then if they're paying 1, pounds per year to be in the scheme that's a 30, pound client for every client who says yes.
Now, this isn't selfish to say that because in order to keep 1, clients happy you've got to focus continually on adding value. Kevin Whelan: A lifetime value-driven business focuses on adding lifetime value. When you focus your business that way so you don't think about the profit, you think about the value, and then if you think about that and do the maths on that, if there's 1, people at 1, a year that's a million pounds of recurring income year after year after year after year.
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Now, how much value is that and how much more value would that be compared to a business that just made a few thousand pounds in profit and focused just on the profit? You see what I mean? Kevin Whelan: When you focus on value and you look at the lifetime value, and you look at how you deliver value, and that's where you start, which is why I love working with new WealthBuilder clients.
I'm so looking forward to working with the Foundation members because we'll encourage as many of them as possible to see the entrepreneurial value in creating ideas like that so that they begin to see creating lifetime value is a worthwhile cause. Not just for a great client and a happy relationship, but it drives incredible value to their business and I'm so looking forward to helping people do that.
It's a different way of thinking though, isn't it? Chris Rodwell: It is, and we covered this in an earlier episode is the employee versus the entrepreneur mindset. If you haven't listened to that then I'm trying to think of what episode that is, but we'll link to it in the show notes, that's for sure.
But definitely the wealth mindset, and also wealth dynamics gives you a wonderful clue as to where you can add value. Kevin Whelan: Yeah, it does.