Here In the Philippines we have the no.1 insurance provider which is Philamlife, basically they provide life insurances; from College Plans, Hospital Care, Accident and Death Insurance, Retirement Premiums and a lot more. This company is under AIG which is short for American International Group of Companies which have recently been suffering from the Lehman Brothers downfall. Any body has their plan in Philamlife? Any comments, discussions?
Philamlife is a solid, legit company. It's not just a glorified pyramid scheme like CAP and Platinum and a number of others. On insurance - the only way to beat the insurance company is to die fairly soon. In the early years of an insurance policy, the insurance company will lose if you die. Towards the later years, you lose (you have already paid enough premiums so that the insurance company has made a profit, including the returns it earned on those premiums you paid.) In "whole life" insurance, there is a savings aspect, and you get some "cash surrender value" if you cash it in. BUT, the return is only 7%-8% annually or thereabouts.
