Category: Philippine Star

Variable Unit-Linked (VUL) insurance gained popularity in the mid-2000s, surprising many with its dual benefits: life insurance coverage combined with an investment component.

What made it even more appealing was the promise of paying premiums for just around 10 years. Financial advisors widely promoted VUL as a smart, flexible solution for those seeking both protection and wealth growth in a single product.

When the pandemic hit, VUL earned a mixed reputation from Filipinos, with many policyholders expressing sentiments like, ‘Nalugi lang ako,’ ‘Hindi nag-grow ang investment’, or ‘Mas mabuti pa ang traditional or term insurance.’

The truth is, VUL is primarily a life insurance product with the added flexibility to potentially grow your money. It’s not a quick fix, nor is it a scam. Misunderstandings often arise when expectations are not clearly aligned, so thorough communication is key.

Here are five common concerns raised about VUL, and the things you should really know before deciding if it’s right for you.

1. ‘Nalugi lang ako sa VUL. Sabi nila investment ito, pero hindi nag-grow.’ (I lost money in my VUL. They said it was an investment, but it hasn’t grown.)

It’s understandable to feel frustrated. One major reason is that people may not be aware that VUL is designed as an insurance solution first, with an investment component built in. Knowing this can help set clearer expectations and guide better decisions.

The investment component of VUL is market-linked, which means your fund value can go up or down, depending on market conditions. It’s important to understand that the reason many VUL clients have seen a decline in their fund value is because these are typically invested in the local stock market, which has experienced minimal growth over the past decade.

If your VUL fund value didn’t grow during a market downturn, that doesn’t necessarily mean that it failed-the life insurance protection benefit remains intact, and that’s what matters more. The investment side can still recover and grow over the long term.

You can also ask your advisor to switch the investment funds, depending on your goals, risk tolerance and time horizon.

2. ‘Ang sabi, 10 years to pay lang, pero pinagbayad pa rin ako nung pandemic kahit fully paid na.’ (I was told it’s 10 years to pay, but I still had to pay during the pandemic even after completing my payments.)

What people sometimes overlook-or perhaps are not informed about-is that VUL has flexible premium payments. You can design it for a limited pay period, but if the fund value drops (like during the pandemic), the policy may require additional payments to keep the insurance coverage active.

Technically, the investment component of the VUL continues to fund your insurance premiums even after the payment period ends, for as long as you live.

The advantage here is that you may pay for a limited time only, but your coverage continues for life. Compare this to term insurance, where you’ll need to keep paying premiums every year for as long as you want coverage, and at a higher premium as you get older.

With a well-funded VUL, you can enjoy lifetime protection without the worry of annual payments dragging on indefinitely.

3. ‘Mas okay sana kung traditional insurance na lang ang kinuha ko para mas maganda ang health benefits.’ (I should’ve just chosen traditional insurance instead, since the health benefits are better.)

Traditional life insurance and VUL serve different purposes. Traditional plans focus on fixed coverage, guaranteed endowment or health protection, while VULs give you flexibility-you can add riders for health, accident and critical illness benefit, while also having an investment component.

One isn’t better than the other; it always depends on your goals. If flexibility and long-term wealth, or legacy-building is more important to you, a VUL may be the right fit.

4. ‘Hindi naman pala guaranteed.’ (So it’s not guaranteed after all.)

Exactly-and that’s actually a good thing. If someone promises guaranteed high returns, that could be a red flag for a potential scam.

With a VUL, your investment portion is tied to market performance, which means it can grow over time, but it also comes with ups and downs. That’s the trade-off.

To make the most out of your VUL, it’s important to align your policy with your risk tolerance and long-term financial goals. One practical tip: consider allocating a manageable portion of your monthly income towards premiums. This helps ensure that your policy is well-funded, which can support the insurance charges even during market downturns.

5. ‘Ang dami palang dapat intindihin. Nakaka-overwhelm.’ (There’s so much to understand. It feels overwhelming.)

It is true that VULs can feel complex, but you don’t have to figure it out alone. A Sun Life advisor can help you understand your options, manage your expectations and build a plan that fits your unique life goals.

With the right partner, a VUL becomes less intimidating and more empowering. It’s a long-term financial tool designed to protect first and grow second. By understanding how it really works, you can make a confident choice for yourself and your family.

Sun Life offers a wide range of financial solutions designed to meet different needs and life goals. Whether you are securing your family’s future, planning for retirement or growing your wealth, there is a Sun Life plan that is right for you.

House Speaker Bojie Dy may hold one of the most powerful positions in government, but his latest statement of assets, liabilities and net worth (SALN) shows a declared net worth of just P74.019 million – far from what some might expect.

The returning lawmaker, who was only elected speaker in September after Rep. Martin Romualdez stepped down, released on Wednesday, October 22, a copy of the SALN he submitted to the House of Representatives in July.

Dy’s SALN shows 12 agricultural properties and four residential lots and homes worth P32.53 million under his name. Twelve of these were bought in the 1990s to early 2000s, while the remaining four were inheritedWhile his real estate portfolio is modest, the newly elected speaker listed over P25.18 million in cash and P29.6 million in investments, bringing his personal assets to about three times the value of his properties, which stood at P88.62 million. This included his five vehicles valued at P11.34 million.

Combining his real estate and personal assets, his total wealth amounts to P121.144 million. After accounting for liabilities of P47.124 million, his net worth stands at P74.019 million.

Beyond assets, public officials must disclose their business interests. Dy reported ties to four firms, which include two where he is a partner and two where he holds shares.

What particularly stands out in Dy’s disclosures, however, is the number of relatives he has in public office. While his political dynasty was known to include at least six members, the full list shows 16, including a nephew who is the Philippine ambassador to Switzerland.

In a statement, Dy said releasing his SALN was part of his commitment to transparency, as public clamor grew for lawmakers to bare their wealth amid corruption allegations involving infrastructure kickbacks.

Some time in September, he told reporters he would release a copy of his SALN, saying if he needed to do so, he would.

Earlier wealth disclosures

Several other lawmakers have also disclosed their SALNs even before the Ombudsman lifted the earlier restrictions imposed under the Duterte administration. These include the Makabayan bloc, Akbayan Party-list, ML Paryt-list, Kamanggagawa Party-list, Rep. Kiko Barzaga and Sen. Risa Hontiveros.

Experts, however, warned that politicians can still hide some wealth from their SALNs. In a radio interview, Mon Abrea, chief tax advisor at Asian Consulting Group and former Bureau of Internal Revenue official, said some assets might not be under a public official’s name or kept in banks, and could instead be listed under their children, spouses or cousins.

Abrea said this helps explain why the public often sees a disconnect between what officials declare on paper and their actual lifestyle.

House panel to review SALNs

Dy also announced reconstituting the House’s SALN Review and Compliance Committee in compliance with Republic Act 6713. Deputy Speaker Ferdinand Hernandez was appointed as the committee’s chairperson, while Rep. Lorenz Defensor and Rep. Miro Quimbo were designated as vice chairpersons.

Members of the committee include Rep. Bong Teves Jr., Rep. Maria Cristina Angeles, Rep. Wilfirdo Enverga, Rep. Angelo Barba and Rep. Arlene Bag-ao.

The committee will be supported by senior officials from the Legal Affairs, Legislative Operations, and Administrative Departments; the Office of the Secretary General; the Committee on Rules; and the Records Management Service, as well as a representative from the Office of the Speaker.

Dy said that reviving the committee reinforces the House’s commitment to earlier memorandums, ensuring the proper filing, review, disclosure, and public access to SALNs in the lower chamber.

“Kung kinakailangan, syempre, lead by example tayo,” he said in a radio interview on Monday. (If needed, of course, we’ll lead by example.)

The local stock market snapped its three-day losing streak, posting slight gains amid bargain-hunting activities.

The benchmark Philippine Stock Exchange index inched up by 0.16 percent or 9.46 points to finish yesterday’s session at 6,093.53.

The broader All Shares index, on the other hand, remained in the loss column, slipping by 0.11 percent or 4.07 points to 3,657.85.

‘The local market bounced back from a three-day decline as bargain hunting prevailed,’ Philstocks Financial research manager Japhet Tantiangco said.

Tantiangco said that positive cues from Wall Street also helped in yesterday’s rebound.

Total value turnover improved to P5.24 billion from the previous day’s P3.65 billion.

However, Tantiangco said that trading was still considered anemic as many investors stayed on the sidelines amid lingering uncertainties.

Sectoral gauges were dominated by those in the red, with mining and oil posting the biggest drop at 2.96 percent.

Services and industrial indexes, meanwhile, recorded increases of 1.10 percent and 0.38 percent, respectively.

Market breadth remained negative as decliners crushed advancers, 127 to 84, while 47 issues were unchanged.

ICTSI was still the most actively traded stock, climbing by 2.04 percent to P550 per share, followed by Ayala Land which fell by two percent to P22 and JG Summit which surged by 3.75 percent to P24.90.

Members of the 80-seat Bangsamoro Parliament elected a new speaker during a session on Tuesday, October 21, to replace the late 85-year-old Maranao lawyer Pangalian Balindong, who passed away earlier this month.

Members and the figurehead of the parliament, Chief Minister Abdulrauf Macacua, confirmed on Wednesday, October 22, that Mohammad Yacob, who had studied Sharia jurisprudence at the International Islamic University of Madinah in Saudi Arabia, was nominated speaker and voted for unanimously on Tuesday by regional lawmakers.

Macacua and Yacob are both senior officials of the Moro Islamic Liberation Front.

The MILF’s two agreements with the national government, the 2012 Framework Agreement on Bangsamoro and the 2014 Comprehensive Agreement on Bangsamoro, paved the way for the establishment of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in 2019, replacing the less empowered Autonomous Region in Muslim Mindanao (ARMM), which had been in place for 27 years.

On Wednesday, Bangsamoro parliament members, including lawyer Sittie Fahanie Uy-Oyod, engineer Baintan Adil-Ampatuan and physician-ophthalmologist Kadil Sinolinding Jr., separately said that they will cooperate with Yacob’s peace and development agenda as speaker.

‘We shall extend to him the same support we extended to our first ever, pioneer speaker, who passed away early this month,” said Sinolinding, who is also functioning as BARMM’s health minister in a concurrent capacity.

The Moro National Liberation Front, which has representatives in the BARMM parliament and is helping MILF officials manage some of the agencies under the Bangsamoro government, also pledged support for the speakership of Yacob.

‘We shall help him and our chief minister keep the regional government’s peace and development efforts in the autonomous region going,” BARMM’s labor and employment minister, Muslimin Sema, chairman of the MNLF’s central committee, said.

In an initial message at the parliament on Tuesday, Yacob said he would do his best to nurture the gains of the peace overtures of the national government with the MNLF and the MILF.

Both fronts are cooperating in overseeing the Bangsamoro regional government.

‘We shall continue with the peace and development initiatives started by our departed speaker via our newly anointed Speaker Yacob. We know he will function as a speaker religiously, in the context of good, upright governance. He is qualified for that task,’ Macacua said.

Aside from studying Sharia law in Saudi Arabia, Yacob also completed a master’s degree in public administration at Cotabato City State University.

One of the most unforgettable pieces of evidence presented of ill-gotten wealth from corruption in the flood-control projects was a photograph of wads upon wads upon wads of ?1,000 bills arranged like blue building blocks on top of a table in a DPWH regional office.

Yes, we all saw it; a physical representation of the wealth that most of us will never earn in our lifetime, or even two or three, and the insatiable greed of some people.

This led to proposals to demonetize ?1,000 and ?500 bills to curb corruption; they assume it will make it inconvenient for contractors to pay government officials or politicians if they don’t have ?1,000 and ?500 bills.

Sure, it sounds like a good idea, but the way we see it, it will be the public and those who don’t engage in corruption who will be more inconvenienced by such a move.

For this piece, let’s limit our argument to the ?1,000 bill only. Let’s be honest about something first; the peso isn’t exactly a strong currency taking into consideration other currencies around the world, and daily transactions here amounting to thousands of pesos are becoming more common.

We are talking about eating out, going for groceries, or even buying fruits in the local talipapa, etcetera. Because of inflation, the ?1,000 bill is no longer as rare as it used to be and is becoming more part of everyday transactions.

So if ?1,000 bills are to be done away with, people will have to bring in their wallets 10 ?100 bills or 20 ?50 bills, or a combination of both denominations. This isn’t only inconvenient, it’s also impractical. It will be like the days of World War II where Filipinos had to bring bags of Japanese ‘Mickey Mouse’ money because of its low value.

Let’s also not forget that, like everyday purchases, transactions involving corruption can be done via bank transfer or other cashless means. No physical cash actually has to change hands for a transaction to be made. As they say: If there’s a will, there’s a way. So why target the bills of larger denominations?

There are many ways to curb corruption, but demonetizing ?1,000 and ?500 bills isn’t the way to go and may cause more harm than good.

This December, a new girl group is set to represent Cebu in the P-pop scene: ARZA, a play on the Cebuano word ‘alsa’, which means ‘to rise.’

The six-member group consists of Isaiah, Dorothy, Sophia, Jana, Niña, and Angel – managed by Music n Motion Academy and Stage K.I.T. Artists Management.

‘Our group’s mission is to lift and rise and to inspire others to rise as well,’ said Isaiah, the group’s leader, lead dancer, and sub-vocalist, during an interview with The FREEMAN at the music school in Parkmall, Mandaue.

‘I usually get mistaken as the youngest in the group when I am actually the oldest,’ the 18-year-old added.

ARZA’s youngest member is Angel, 13, the lead vocalist. She has been doing commercials since she was five years old.

The main vocalist and lead dancer, Niña, 15, is a school athlete who plays volleyball and badminton. She is also a campus journalist, combining her two interests when she competed at a press conference last year as a sports writer.

Jana, 16, is the group’s main rapper and lead vocalist. She also runs a small bracelet-making business.

Dorothy, also 16, is a fast learner when it comes to choreography, while Sophia, the same age, has a twin brother who can also sing.

While they had different interests growing up, all members share a desire to perform onstage.

‘Since I have the ability to sing, I wouldn’t want to waste that. So I showcased my talents when I was little,’ Jana said.

‘My passion as a dancer started when I would watch the festival queens performing at the Sinulog Festival. Then I would see singing competitions on TV like The Voice Kids, and I grew up loving to sing,’ Dorothy added.

Sophia chimed in, saying, ‘I sang a lot when I was little, even though I was off-key. As I grew older, I wanted to make my voice better, so I took lessons here at Music n Motion.’

While the girls have a wide range of influences – from soloists like Olivia Rodrigo and Sarah Geronimo to K-pop acts such as TWICE, Stray Kids, and ENHYPEN – they cited BLACKPINK and KATSEYE as the groups they most want to emulate.

‘When we saw the members of KATSEYE in their performances and their journey in fighting for their spot in the group, they showed they can be successful and inspire others with their passion and talent,’ Dorothy explained. ‘Their bond as members is so strong that their connection shows in their performances, and they have such a powerful aura.’

‘As for BLACKPINK, we want to be like them, to show a different type of sound that showcases so many styles we can explore,’ she added.

Among the members, Niña and Dorothy have trained with Music n Motion the longest. Niña started in 2018, taking a break to focus on her studies before returning. Dorothy joined in 2016, later transferring to another music school in Lapu-Lapu City, before returning in 2023.

Angel briefly joined during the COVID-19 pandemic through virtual lessons before rejoining in 2023 when in-person classes resumed. Sophia joined around the same time as Angel. Jana is the newest trainee, having joined only a few months before being enlisted as part of ARZA.

Despite being new, Jana appreciated how warmly she was welcomed. ‘All of the members were so approachable, kind, and patient since I still need to work on my dancing,’ she said.

It’s this collaborative dynamic that assured ARZA’s managers of their ambitious decision to debut their in-house idol group after seeing their performance at a recital earlier this year.

‘The chemistry they have is that they always have the same idea when it comes to dancing. They work well together. It’s when they have the attire on that the magic comes. This group has so much potential, which is why we are molding them as a P-pop group,’ said their manager Brian Keith Sianson.

‘I am so happy that I found these members because it’s not easy to form a group. You have to consider their voices, charisma, and sometimes looks – but they’re all pretty. I can see so much potential in them,’ added Music n Motion founder Leonyl Navarro, who established the school in 2014 when it was located at J Center Mall (now SM JMall).

Building chemistry requires fostering genuine friendships. ‘The friendship we built is the foundation of ARZA. I hope that bond we built can resonate with audiences,’ Isaiah said.

‘It wasn’t hard for us to build that connection because from the first practice alone, we instantly clicked and knew what our positions would be,’ Niña added.

Isaiah also said it’s about being harmonious despite their different personalities, which she believes makes the group stand out. ‘Some of us can be naughty, some can be demure, one can be nonchalant. I think that’s what makes us whole. We balance each other out.’

This comes as an advantage for Isaiah as the leader. ‘Since they are younger than me, I have to show that I am a good role model for them. But they make this job easy because they always listen to me when there are announcements, reminders, and advice. They don’t make it heavy for me.’

Considering that they are ‘academic achievers’ in school, they dedicate their weekends to rehearsals, emphasizing time management so they don’t compromise their education.

‘They were quite committed before they signed the contract. Our goal is to make them unique, especially vocally. They may have similar dances to other groups, but their core is their voice – that’s what will make ARZA different from others,’ Sianson said.

Navarro praised their dedication, saying, ‘They have the perseverance, willingness, and desire to learn more,’ noting that their training has become more challenging.

As for their upcoming debut single, ARZA is brainstorming ideas, leaning toward a ‘girl power empowerment’ concept, with a track produced by LG Fuentes.

‘I am excited for when we release our first song because what’s important is that people enjoy our sound and feel inspired,’ Dorothy said.

ARZA will officially debut on Dec. 14 at SM Seaside City during Music n Motion’s recital concert.

‘I hope Cebuanos support us in this journey because we’re not doing this just for us but for Cebuanos. We have so much in store for our potential fans, and they have a lot to look forward to,’ Isaiah said.

‘If they’re going to be our fans someday, we promise we’ll work hard and improve ourselves every day,’ Sophia added.

The University of the Philippines (UP) Cebu Fighting Maroons edged past the University of San Jose-Recoletos (USJ-R) Kicking Jaguars, 1-0, to barge into the win column of the Cebu Schools Athletic Foundation, Inc. (CESAFI) Season 25 football tournament over the weekend at the Cebu City Sports Center.

Jaybe Abasolo scored the lone goal at the 20th minute for UP Cebu, which now holds an even 1-1-1 win-loss-draw record.

USJ-R suffered its second setback with one draw.

In the other collegiate matchup, the University of San Carlos (USC) Golden Booters and the University of Southern Philippines Foundation (USPF) Kicking Panthers fought to a 1-1 standoff.

USC’s John Cyril Sinoy broke the ice with just six minutes gone by in the game.

But USPF’s John Rey Arino sank the equalizer at the 64th minute resulting in a stalemate.

In the juniors division, the Don Bosco Technical College (DBTC)-Cebu Greywolves beat the Sacred Heart School-Ateneo de Cebu (SHS-AdC) Magis Eagles, 1-0, to stay unbeaten with two victories and a draw.

Yuki John Ceniza delivered the game-clincher for Don Bosco at the 50th minute.

In the other result, the USJ-R Jaguar Cubs triumphed for the first time at the expense of the San Carlos School of Cebu (SCSC) Baby Warriors, 1-0.

Louie Vincent Fernandez drilled on the winning goal for the Jaguar Cubs at the 14th minute.

Lopez-led Energy Development Corp. (EDC) is exploring plans to repurpose its 129-megawatt (MW) geothermal power plant in Leyte following the end of its economic lifespan.

EDC vice president Ryan Velasco said the company is set to conduct feasibility studies for the potential repurposing and redevelopment of the Upper Mahiao Power Plant site in the municipality of Kananga.

This follows EDC’s submission of a letter of intent to the Department of Energy for the phased decommissioning of Upper Mahiao, which has reached its maximum economic life.

The facility was also said to have become technically incapable of generating electricity.

According to Velasco, key components of the geothermal plant typically have an economic lifespan of just 15 to 20 years.

EDC plans to complete the first phase of the plant shutdown, involving two of the four units, by 2026, with the remaining units to be decommissioned by 2029.

The Upper Mahiao plant, commissioned in 1996, had reportedly been considered for major upgrades along with other geothermal facilities in Leyte.

Other EDC plants in Leyte include the 232.61-MW Malitbog, the 198.14-MW Mahanagdong and the 123-MW Tongonan, latest company data showed.

A subsidiary of First Gen Corp., EDC is the country’s largest geothermal player. It operates at least 13 geothermal plants with a combined capacity of about 1,200 MW, the largest portfolio of its kind in the country.

Aside from the Philippines, the company intends to develop geothermal plants in Indonesia as it actively explores growth opportunities in other countries.

The Philippines’ Crystal Cariño and Nicole Tabucol missed out on a potential shot at a gold medal after succumbing to Thailand’s Phatrawan Simawong and Chiratchayaphon Kenkhunthod, 2-0, in the teqball semifinals of the 3rd Asian Youth Games at the Exhibition World Bahrain Wednesday.

The Filipina pair, however, will have a chance at a bronze in the sport that’s a mix of sepak takraw and table tennis if they beat host Bahrain’s Rawan Abdulaziz and Fatima Albanna in the girls’ doubles event Thursday.

Alas Pilipinas likewise suffered its first defeat in girls’ volleyball at the hands of regional powerhouse Thailand, 25-21, 25-18, 25-14, at the Hall B of the Isa Sports City.

It was the first defeat for the Nationals in two outings.

Despite it, the country, represented by National University bracketed at Group D, made it to the classification phase for the teams that finished in the top eight from the four groups.

Action though intensifies starting today in golf, mixed martial arts, muay, taekwondo and triathlon where the country has bets with a legitimate shot at a podium finish, possibly a gold.

One of the country’s entries with the best chance at a gold is John Brix Ramiscal, a world championship gold winner in Abu Dhabi last month in the junior 16-17 male category.

The Philippines is hoping to add to the first gold captured by Kram Airam Carpio in pencak silat a few days back and possibly surpass its two-gold, three-silver haul last edition in Nanjing, China 12 years ago.

‘We can win more because our lineup is strong and we can pull surprises in golf, weightlifting, athletics, muay and boxing,’ said Philippine Olympic Committee president Abraham ‘Bambol’ Tolentino, who attended Wednesday’s Olympic Council of Asia meeting at the Art Hotel and Resort here.

Tolentino, part of the OCA board, said gold winners should take home a bounty for their feats.

The government, by law, is mandated to hand gold winners in Asian-level events done at least biennially and participated in by a minimum of 25 countries with an incentive worth P500,000.

‘The Philippine Sports Commission and the POC should give incentives. If The Palace sees that we gave them, there’s a big chance they will give too,’ he added.

The government has lost close to P600 billion from cases dismissed in courts due to ‘inordinate delay’ in prosecution, Ombudsman Jesus Crispin Remulla said yesterday.

‘It’s very alarming. This has to stop. There’s much negligence, we have to stop this habit. We should have a way of tracing who is responsible for what,’ Remulla said at a briefing.

The P600 billion, he said, spans the last 15 years. The problem, he said, may have stemmed from dilatory tactics employed by defense lawyers to prolong trial, mostly of graft cases.

Remulla said he would be pushing for shortening the period of evaluating whether cases are dismissible – from 72 hours to 48 hours – to avoid political theatrics.

The period of preliminary investigation will also be reduced from the allowable one year to only 60 days. The fact-finding phase will also be limited to 60 days.

‘From evaluation to fact-finding to preliminary investigation to prosecution, it stretches to one year. It has to stop. We have to either dismiss or file it. Dalawa lang yan. Walang matutulog dapat. Everything has to move,’ he said.

Remulla also vowed to raise the standards for the filing of cases – from determining probable cause to establishing reasonable certainty of conviction to prevent the weaponization of the ombudsman and to have cases promptly subjected to trial.

The ombudsman said his office is already crafting revised rules on preliminary investigation and would have them published once completed. He said the rules would be crafted in such a way that no rights would be violated.

Remulla said he also hopes to initiate a dialogue with the judiciary – including the Supreme Court – to address the delays in cases, as well as other problems besetting the justice system.