Sorry ha, but it kills me when "financial advisors" advise their single, no dependents, low earning clients to "invest" in a VUL product. If these so-called financial advisors were really looking out for the welfare of their clients, then they would not push a VUL product and would instead recommend term insurance, if indeed the client needed life insurance in the first place.

If a person just wants to invest, has no dependents and has no estate to protect (bata pa nga eh, malamang walang pera yan), what's the point of buying life insurance? And VUL to boot pa, which has historically been outperformed by other investment vehicles.

Wala lang, it really irritates me when I hear "financial advisors" touting the advantage of VUL products to someone with next to zero knowledge about investments, clearly taking advantage of that person's naivete.

That's why knowledge is key and I doubt I'll ever have a future selling life insurance.

Here's what Suze has to say about that:


Ako din Ate Jill, I roll my eyes when I see in one of their posts that they already invested in VUL! One I saw is even in college pa! Geez! Might as well go straight to mutual fund. Kaloka!

Before they get soemthing from a so-called financial advisor, asked him/her or research what are they getting in return.
Florlin said…
OMG Yes. I was also almost suckered into that one. I never really thought about all the other stuff. I was reading this finance blog by someone and she talked about VUL over and over again. It took me your comment on my blog and a few other readings to realize that I don't need it in my life at this time.
Didi said…
I used to have VUL until I learned that I was losing a lot of money through my financial planner, where I had a better financial education. It pissed me off that the insurance sales lady wasn't really after me investing my money, but after the sales. Of course.

So I ended up cutting off the loses and reinvesting the money left in mutual funds instead, where I made so much more money.

That's why I have trust issues with financial institutions who call their sales people financial advisers. In the end, their interest is in selling their own financial products versus actually taking care of their client's financial health.
Jillsabs said…
When you think about it though, it's every person for himself/herself. Why are we so naive to think that a "financial adviser" selling us insurance will have our best interest in mind when he makes his living off the commissions received.

So yeah, best be on guard because no one can protect your interests more than you.
Jillsabs said…
VUL really is for the lazy or the uninformed. I myself was uninformed when I bought a VUL as my first "investment". Looking back now, I should have just bought term and plunked the rest of the cash in mutual funds.

But for what it's worth, it's part of the learning process. So now I know better and for me that makes it all worth it.
grace said…
Tnx mam jill for sharing the video :) Buti na lang naintindihan ko na rin ang VUL thanks to a sunlife advisor, she gave me a flexilink proposal, though I think its not suitable for me. It's a good thing that I've been reading financial blogs it made me decide easily not to pursue it. Have I not been financially aware I would have jump again into it (the same financial mistake a have almost 10 yrs ago). Advantage pa rin kapag may financial background na :)
Jacqueline Uy said…
Thank you for this post, Ms. Jill! This got me thinking if I really made the right decision of getting a VUL. I did get a Maxilink Prime for myself- my first ever insurance purchase. I thought as long as I'm employed and can pay its premium, it may benefit me when I get older, plus points na rin siguro na it's investment-linked. Crossing my fingers that I made the right choice. Hope we can hear more from you about VULs :)

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