"Financial Freedom really depends on the habit you develop -- Saving or borrowing? Increase income or increase expenses?"
Our mission: To educate 1M Filipino families by 2020. Our goal: To make the most number of multi-millionnaires under IMG.
FINANCIAL EDUCATION IS THE KEY! ✔️Membership Orientation and Benefits ✔️Financial Check-Up and Financial Needs Analysis ✔️Financial Foundation Education Workshop ✔️Jump Start School and Business Plan ✔️Partners Training ✔️Leadership Trainings ✔️IMG Books
Financial Freedom - is this your top priority? Let's check. Why do we go to school and pursue higher education? Why do we find a job and work hard? What's more important to you? Get a good degree & title or attain financial success?
3 Simple Steps To Achieve Financial Freedom 1. Financial Check-up -Know how financially healthy are you: -Know what you have and what you want. Only when you know what you want can you start you start to achieve the things that you really want. 2. Create a strategy -Follow the basic concepts: X curve, Solid Financial Foundation 3. Do it right - in the right platform.
Questions you need to ask yourself to check your financial health: Do you work hard but are still broke? Do you have enough savings? Do you live from paycheck to paycheck? Do you have difficulty providing for your parents -- their retirement and healthcare situation? Do you want to get out of your debts? Do you have emergency funds? Do you have a system to track where your money is going? Do you monitor your cashflow? Do you control your expenses? Do you know if your income is enough to achieve all your financial goals? Do you have a long-term healthcare plan? Does your family have a long-term healthcare plan? What if they get sick? Are they protected? Do you have any idea how much healthcare you will need in the future? What if something happens to you? Will your family survive? Do you have any idea how much life insurance you need? Do you have a financial plan?
These are some of the questions we can ask our clients and friends to check their financial status.
Common Financial Mistakes: Why do people get into difficult financial situations? 1. Lack of Planning They think their situation is temporary and that it will be corrected by itself. 2. Dependence on "Someone Else" They are dependent on other people for their financial future. 3. Lack of Discipline & Procrastination They always postpone because they assume that they have a lot time left. 4. Lack of Financial Knowledge They're too lazy to learn.
What is Financial Freedom? Financial freedom is not the same for all. It is based on individual's perception, what they want in life, based on what gives them satisfaction.
Knowing the basic financial concepts is the beginning of achieving financial freedom. Building a house requires a design -- a blueprint. We need a financial blueprint -- a road map -- to know if we are following the right path towards financial freedom.
Pay Yourself First Income 100% - (Tithes 10% + Savings 20%) = Expenses 70% What if 70% is not enough for your needs? Will you increase your cashflow or just get into debts? Of course, Increase Cashflow. Reduce your expenses and earn additional income.
Something to reflect on: Who are you going to work for everyday? Who will benefit the most from your hard earned money? Can you be wealthy by spending all your money to impress people? If you need money, do you think the people you impressed will give you money? The goal is to be rich and not just to look rich.
Use your spare time to earn extra salary. Plot it! First: Identify how much additional income you need. Second: Identify if you need it within the next 3 months, 6 months, 1 year, 3 years, 5 years or so. Third: Plot the number of hours you are willing to spend to work on your goals. Example: Mondays 6pm - 9pm, Tuesdays 12pm - 1pm, Saturdays 10am - 7pm. Fourth: Schedule your appointments and the people you will talk to, and your activities/trainings you will attend.
Constantly increase cash flow so you can build a sturdier Solid Financial Foundation. Continuously increase your investments and protection.
LIFE INSURANCE Many people buy insurance they don't understand. They buy because they can't say no to their agent. T_T
Steps To Getting Life Insurance: Step 1: Know why you need to buy life insurance. Step 2: Know how much life insurance is enough for your family's needs. Step 3: Know how to buy life insurance.
Below are my notes from our convention last April 8, 2018. I divided them into 3 parts. Part 1 and 2 are the learnings. Part 3 will be all about the announcements and latest updates. :)
"Every IMG member you make is a soul you save." -Rex Mendoza
Random Notes from Rex Mendoza:
Wealth - people want it but they don't really work hard for it.
History always repeats itself, people never learn. We have to keep on reminding them that they should invest more when the market is low because as always, eventually it will go up!
Asset Under Management of Soldivo - 1B+ na --- in 3 years!!! That's a record! Other companies take a much longer time but we did it in 3 years!
Fear is born out of not knowing. Solution: keep on learning! Ergo, we can eliminate the fear of people by educating them.
People who are ignorant about inflation: Person 1: Okay na ako sa banko, guaranteed naman. Investor: Guaranteed? Guaranteed to lose. Haha Person: Bakit? Investor: Inflation bes.
There are only 2 types of debts: Good debt vs. Bad debt -- Wag ka uutang para lang sa bagay na di mo naman kailangan sa buhay mo.
Before - You buy insurance to protect your family from estate. Now - You buy insurance to create estate/wealth for your family.
Which one do you want? Active Income = Getting paid for time --- No time freedom plus very limited income. Passive Income = Getting paid for results --- You're the boss, you can dictate the results and your possible income.
Mixed signals for 2018. There are many challenges ahead, but the long term prospects of the Philippines remain positive.
Inflation - 3.9%
By 2021 the PSEi is projected to hit 13,000 level!!!!
Philippines is an “Alpha Stock” — one of the fastest growing market for goods and services.
Practical Wealth Planning Strategies -- Simple Steps To Wealth Creation: 1. Expand your earning potential. This is a better solution than just cutting your expenses. At least you’re still able to enjoy. 2. Maintain a lifestyle lower than your income. 3. Accumulate and grow what you can keep. (Invest your linear income so you can earn exponential income.) 4. Do it with purpose. Always anchor everything on what truly matters. 5. Maximize and optimize, then share your bounty with others. Keep on exceeding your potential. 6. Enjoy the process. 7. Strive for growth and serve more people.
SHARING FROM THE NEWLY PROMOTED GREEN JACKETS Key Insights:
On Building the IMG Business:
Use your heart when it comes to helping and building people.
"I may not have the biggest why but I know that I have a big heart to help." This business must really be built with the heart. It's about having genuine concern for people.
Pag natutulungan mo na kasi yung sarili mo, automatic ang sunod ay tumulong ka na sa iba.
If you don't trust me and what I do, then you don't deserve my loyalty.
Attend trainings, minimum twice a week. You really have to stay connected to the charging station. NO EXCUSES.
Where do you see yourself 3-5 years from now? You should have a goal. In your business, you should have a goal. In your personal growth, you should have a goal. Always have a goal. What you do should add up and help you achieve a certain goal.
Remember: Financial Education is not just for the wealthy, it is for everyone. Wala ka dapat pinipili.
We believe in hardwork and sacrifice - part of the planting season yan, sa simula ganun talaga but eventually, harvest time na. :)
Your passion will lead you to your purpose.
Don't let others kill your dreams. People will laugh at you, mock you, and even question your dreams, but don't listen to them. You have to make it work.
Always be excited! Feel your success!
"God, now that I'm in this struggling situation, show me what you want me to learn."
We may fail many times, but as long as we don't give up, we will eventually succeed! Remember: Failures are essential for our growth.
On Building Your Belief In IMG:
IMG is one of the best platforms to help people. We have the platform to educate and the products to execute. We are pioneers in this kind of industry.
IMG works for everybody. Regardless of your background, IMG will work for you.
Sa mga taong di parin bilib sa IMG. Ano na? I-full mo na. 200% belief dapat! You will not succeed unless you are proud of what you do and we have all the reasons to be proud of IMG.
Here are some basic information about Kaiser K50 Plan.
1. Kaiser is a HEALTHCARE, INSURANCE, INVESTMENT + EMERGENCY FUND. It's a 4 in 1 investment vehicle.
2. The plan is 7 years to pay. Your payment options are: Monthly - P 2,941 Quarterly - P 8,529 (You save half a month premium) Semi-Annual - P 15,882 (You save 1 month premium) Annual - P 29,411 (You save 2 months premium)
3. The plan has 3 Periods: Accumulation or Paying Period, Extended or Waiting Period, and Maturity or Long-term Care Period. Each period has specific health care benefits which are explained below.
For the Accumulation or Paying Period: -HEALTHCARE After paying for the first year, you can already use your health card for hospitalization (in-patient services only) with an annual benefit limit of 50k. There's also a free APE plus dental benefits. You can check the network or list of accredited hospitals and dentists online. (www.kaiserhealthgroup.com)
-INSURANCE In case of death due to any accident, the beneficiary/ies will get an insurance benefit amounting to P 225,000 x 2 = P 450,000 plus waiver of installment.
In case of death due to natural death/sickness there's a contestability period of 2 years. Once it has been proven that the cause of death does not fall under the list of pre-existing illnesses the beneficiary/ies will get an insurance benefit of P 225,000 plus waiver of installment.
In case of 100% disability due to accident waiver of installment shall be applied.
For the Extended or Waiting Period Starting on the 8th year the plan will start to grow at an average rate of 10% annually. The health care and insurance feature still applies. Annual benefit limit increases every year.
For the Maturity or Long-term Care Period The total cash value on the 20th year for this plan is: P 583,084
Q: WHAT IF I USED MY KAISER PLAN FOR IN-PATIENT HOSPITALIZATION DURING THE PAYING PERIOD (first 7 years)? A: Instead of getting the full amount of P 583,084 you will only get P 408,084. Still more than 100% of what you've invested.
Q: WHAT IF I JUST LEAVE MY FUNDS EVEN AFTER THE 20th YEAR? A: It just continues to grow at a rate of 10% compounded annually.
Q: AM I STILL COVERED WITH INSURANCE BEYOND THE 20 YEARS? A: YES, as long as your account is still funded. Your total fund beyond the 20th year serves as your insurance. E.g. If you didn't use/withdraw any amount from your fund, your total insurance coverage on the 20th year is P 583,084.
NOTE: THE PRIMARY PURPOSE OF YOUR KAISER LONG-TERM CARE SHOULD BE FOR YOUR RETIREMENT. THEREFORE, THE MOST IMPORTANT PERIOD IS THE MATURITY or LONG-TERM CARE PERIOD. ALL FEATURES UNDER THE PAYING AND WAITING PERIOD SERVE ONLY AS A AN ADDED FEATURE OR A BONUS. :) AGAIN, YOUR FOCUS SHOULD BE THE LONG-TERM FEATURE OF THIS PLAN. GET INTO THIS SO YOU CAN SECURE YOUR LONG-TERM HEALTH CARE NEEDS AS WELL AS YOUR RETIREMENT.
In case you want a higher insurance benefit and cash value upon maturity here are your other options:
PLAN K75 P4,412 monthly / P12,794 quarterly / P23,823 semi-annually / P44,116 annually INSURANCE BENEFIT: P 337,500 TOTAL CASH VALUE ON THE 20th YEAR: P874,626
PLAN K100 P5,582 monthly / P17,058 quarterly / P31,764 semi-annually / P58,821 annually INSURANCE BENEFIT: P450,000 TOTAL CASH VALUE ON THE 20th YEAR: P1,166,168.
PLAN K125 P7,353 monthly / P21,323 quarterly / P39,704 semi-annually / P73,527 annually ANNUAL BENEFIT LIMIT FOR HOSPITALIZATION (for 7 years): 70,000 INSURANCE BENEFIT: P562,500 (x2 if due to accident) TOTAL CASH VALUE ON THE 20th YEAR: P1,457,710.
PLAN K150 P8,823 monthly / P25,587 quarterly / P47,645 semi-annually / P88,232 annually ANNUAL BENEFIT LIMIT FOR HOSPITALIZATION (for 7 years): 80,000 INSURANCE BENEFIT: P675,000 (x2 if due to accident) TOTAL CASH VALUE ON THE 20th YEAR: P1,749,253.
Why are we encouraging you to start with Kaiser? It's very simple, because with Kaiser you can get all your major financial needs ~ HEALTH CARE, INSURANCE, INVESTMENT and EMERGENCY FUND in a single investment plan.
We all want to be financially secured but the question is, how do we start? When it comes to financial planning, there are two important questions that you have to ask yourself:
Q: What if I die too early? What will happen to my family? When the breadwinner passes away, the family not only loses a loved one, it also loses a source of income to pay for food, shelter, and basic necessities.
Q: What if I live too long? Who will take care of me? Typically, regular Filipino employees would have a healthcare plan provided by their employer. This is a basic benefit that’s certainly valuable and helpful to all regular employees and their dependents since this secures their short-term healthcare needs but what happens when a person stops working? What happens when you reach the age of retirement? Will you be able to bring your healthcare benefits with you? Sure, you have a short-term healthcare right now, but are you already prepared for the time that you might actually need it the most? Who will provide for your food, shelter, health care and other basic needs?
WHY CHOOSE KAISER? Kaiser gives you two of the basic components one should be looking for in an investment: Protection + Growth.
Protection: Kaiser covers not just your short-term healthcare but more importantly, it secures your long-term protection, for your healthcare needs at your old age, as well as your insurance or your family's protection in case of an unfortunate event.
Growth: Since Kaiser is invested on a Mutual Fund that earns an average rate of 7% - 10% compounded annually, if you don't get sick and live long enough without getting sick, it can be good as cash. Meaning, you can withdraw your money and use for any of your other needs and responsibilities at your old age. Now, should you decide to leave your money even after maturity, it will just continue to grow at an average rate of 7% - 10% per annum.
In essence: Kaiser is a HEALTHCARE, INSURANCE, INVESTMENT + EMERGENCY FUND. It's a 4 in 1 investment vehicle.
We'll get to the specifics as you read on.
HOW DOES KAISER ULTIMATE HEALTH BUILDER PLAN WORK?
THE 3 PHASES OF KAISER ULTIMATE HEALTH BUILDER PLAN:
Phase 1: Accumulation Period or The Paying Phase (first 7 years)
For the first 7 years you will be paying for the plan. During this time, it works like a typical HMO wherein you have an annual benefit usable for hospitalization expenses. There are also a couple of benefits, like:
FREE Annual Physical Examination after one year of payment.
Term Life Insurance (up to age 70) with accidental death and dismemberment riders.
In-patient benefits in accredited hospitals except for pre-existing conditions and dreaded diseases, up to plan annual benefit limit.
Waiver of Installment/Premium due to death/total and permanent disability.
Phase 2: Extended Period or The Growth Phase (next 13 years)
During this phase, you have completed all the payments and all you have to do is wait and let the plan reach its 20th year (maturity). At this point your plan will have a starting cash value that you can also use for your medical expenses. The money is invested in government and corporate bonds, which are expected to yield 7-10% compounded per year.
Comparison to other providers: During this phase, the Kaiser plan is still there for your short-term healthcare needs. The money is still growing at this stage and it is at this phase when the Kaiser plan starts to step-up and be more competitive with the other healthcare providers.
Term Life Insurance (up to age 70) with accidental death and dismemberment riders.
In-Patient and Out-Patient Hospitalization Benefits subject to remaining member accumulated fund.
Accumulation of Unused Health Benefits/Bonus at 7-10%
Phase 3 – The Maturity Year (20th year and beyond): Comparison to Other Providers: At this phase, Kaiser stands out because most healthcare providers are already too expensive by the time you reach your 40s or even 60s. On the other hand, your money with Kaiser has already accumulated and depending on the plan you chose, your Total Health Benefits would be upwards of P500,000 all the way to several millions. If left unused the cash value upon maturity is projected to earn 7-10% per year.
Long term care bonus: Return of up to 85% of premiums paid if no claim made during the accumulation period.
Long-term care benefit.
Accumulated unused health benefits.
Below are sample pre-computed amounts: PLAN K50 - P 2,941 monthly / P 8,529 quarterly / P 15,882 semi-annually / P 29,411 annually TERM INSURANCE BENEFIT: P225,500 TOTAL CASH VALUE ON THE 20th YEAR: P583,084
PLAN K75 - P4,412 monthly / P12,794 quarterly / P23,823 semi-annually / P44,116 annually TERM INSURANCE BENEFIT: P337,500 TOTAL CASH VALUE ON THE 20th YEAR: P874,626
PLAN K100 - P5,582 monthly / P17,058 quarterly / P31,764 semi-annually / P58,821 annually TERM INSURANCE BENEFIT: P450,000 TOTAL CASH VALUE ON THE 20th YEAR: P1,166,168.
PLAN K125 - P7,353 monthly / P21,323 quarterly / P39,704 semi-annually / P73,527 annually TERM INSURANCE BENEFIT: P562,500 TOTAL CASH VALUE ON THE 20th YEAR: P1,457,710.
FREQUENTLY ASKED QUESTIONS:
Q. How can we be sure Kaiser will still be there in the long term? Can we trust Kaiser to fulfill its commitments? A: 1. The Kaiser Ultimate Health Builder is a product of two actuarial studies made by an American and a Filipino actuarial, respectively. 2. The company and the products offered have passed the regulatory requirements of the gov't thru the Securities and Exchange Commission and the Dept. of Health. 3. At least 51% of payments made by the plan holders automatically goes to a trust fund, as required by the government. KAISER cannot touch the trust fund. It is reserved for the future claims by the plan holders. 4. Kaiser trust fund is managed by two reputable international banks namely: 1.) ING BANK (based in the Netherlands) and 2.) DEUTSCHE BANK (based in Europe)
Q. I just bought a K45 plan and would want to have a bigger coverage. Can I upgrade or buy another plan? A: Yes, a plan holder or member may upgrade his plan within 30 days from the member's effectivity date. The member may buy another plan only upon full payment of his policy which is on the 6th year.
Q: I just bought a K100 plan. Can I now avail of the Annual Physical and Dental Examination? A: The member can avail of these two outpatient benefits after paying fully paying the first year's premium. E.g. If his mode of payment is annual, then he can avail immediately after receiving his member's kit containing his ID, benefit and dental card, provider directory, guide book and your schedule of benefits with the contract provisions.
Q: I have a K50 plan which I'd like to transfer to my daughter because I'm migrating to the U.SA. How do I go about transferring it? A: The member shall be required to sign an amendment form and the daughter signs a new application for membership form and submit it to his IMG representative/offices or to Kaiser office located at King's Court I Building along 2129 Chino Roces Avenue in Makati City.
Q: If a member dies, is his K100 plan transferable to any of his beneficiaries? How much will his beneficiary get? A: If the plan has approved term insurance coverage, the plan is transferable to the primary beneficiary. Kaiser shall pay the principal amount of the term insurance equivalent to the member's long-term care benefit Php 100,000. If the cause of death is an accident, another Php 100,000 shall be paid.
Q: What if I invested on a K50 plan and during the paying period (first 7 years) I used my Kaiser plan for in-patient hospitalization? A: Instead of getting the full amount of P583,084 you will only get P408,084. Still more than 100% of what you've invested.
Q: What if I just leave my funds even after the 20th year? A: It just continues to grow at a rate of 10% compounded annually. This is exactly the reason why the earlier that you start, the more funds you can accumulate.
Q: Am I still covered with insurance beyond the 20 years? A: YES, as long as your account is still funded. Your total fund beyond the 20th year serves as your insurance. E.g. If you invested on a K-50 plan and didn't use/withdraw any amount from your fund, your total insurance coverage on the 20th year is P583,084
Q: What if I don't get sick? Can I use my money for something else? A: YES, because it’s an investment. Meaning you can use it for anyone, anything, and anywhere.