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My name is Raymund Camat and I am the blogger of MoneyTalkPH.com. My mission is to spread financial education to Filipinos worldwide to achieve the ultimate goal of Financial Freedom. If this is your first time visiting my blog, I recommend you explore all the articles I wrote here.

I am affiliated with Sun Life of Canada, the oldest life insurance company in the Philippines and currently the number 1 life insurance company in the Philippines. Our company has a wide range of life insurance and investment products including the following:

  • Sun Maxilink Prime – a life insurance plan with investment component that could be used to finance future needs like education and retirement. With the option to include accidental death benefit, disablement benefit, dismemberment benefit, and hospital income benefit. This plan is payable for at least 10 years.
  • Sun Flexilink – a life insurance plan with investment that could be used for retirement. With the option to include accidental death benefit, disablement benefit, dismemberment benefit, critical illness benefit, female critical illness benefit and hospital income benefit.
  • Sun Maxilink Bright – a life insurance plan with investment that could be used to finance future expenses in education or retirement. This plan is payable in 5 years with the option to add accidental death and total disability benefit.
  • Sun Maxilink Prime for College – a life insurance plan with investment that could be used to pay future expenses in education or retirement. This plan is payable in 10 years with the option to add accidental death, dismemberment, and disablement benefits.
  • Sun Maxilink One – a wise alternative for mutual fund, UITF and direct stock investing. One time big time investment that provides better return than traditional bank products
  • Sun Life Term Insurance Plans – affordable pure life insurance plans for Filipinos with limited budget but want to get life insurance policy to protect the future of their families
  • Sun Life Assure – a term life insurance plan that provides lump sum amount upon diagnosis of any of the 36 illnesses covered including cancer, organ transplant, paralysis, blindness and others.
  • Sun Fit and Well – a whole life insurance plan that covers up to 100 minor and major critical illnesses with cash benefits, dividends, paid up bonuses, hospitalization income, home recovery benefits and more.
  • Sun Start Up – affordable life insurance that provides lump sum amount to your family when you die and return 50% of your total paid premium after 10 years.
Make your money work harder for you! Invest on our award-winning mutual funds: the Sun Life Prosperity Funds. Learn how to open an account here.

Non-life Insurance Products

Get fire insurance for your home, condominium, apartment, building, warehouse, plant and other properties. With optional coverage for flood, earthquake, malicious damage, theft, riot, etc. Get a quotation today, click here.

The Importance of Having an Emergency Fund

Money Management

Whenever I do financial planning to my clients, I always discuss the importance of building an emergency fund, which is the money set aside to cover emergencies or life’s unexpected events such as unemployment, medical expenses, home repairs, natural disasters, vehicle repairs etc. The fund should easily be accessible, meaning it can be withdrawn from the bank or kept at home.  The recommended amount for emergency fund is at least 3 months worth of expenses. For me,  the ideal is 6 months to 1 year worth of expenses.

It surprises me that many of our fellow Filipinos don’t have emergency funds. Their emergency fund is their credit cards, money borrowed from friends/relatives, money from loan sharks (5-6 loans), etc. Borrowing money for emergencies is not an ideal practice because of the big interest rates. It also destroy relationships when you borrow from friends/relatives then you did not pay the loaned money back.

When a person becomes unemployed, it may take few months before he could find another job. Of course, bills don’t stop coming in when a person becomes unemployed. With adequate emergency fund, his bills and other expenses will be paid up until he finds a new job.

Many Filipino families commonly face medical emergencies and majority of them do not have money set aside to cover the expenses. Borrowing money is inevitable; finding people to lend money is another problem. With adequate emergency fund, medical expenses could be easily covered and no need to borrow money from other people. It is a painful reality that many hospitals require downpayment before they will admit a patient. With no money, where do a sick person go?  Many sick people in the Philippines die before they even meet a doctor or admitted in a medical facility. It is really sad to hear stories of sick people dying because they do not have money to pay medical expenses.

I am the type of person who cannot sleep at night when my emergency fund go below a minimum level. I fear that an emergency could happen anytime and as the bread winner of the family I am obliged to pay the expenses. I always feel that I should have enough money to cover unexpected expenses.

I always tell my clients that before they get an investment or insurance plan, they should have at least an emergency fund. Without an adequate emergency fund, they will sacrifice their investment or insurance plan when they face a financial emergency. They will be forced to prematurely sell their investments at a loss or they will be forced to surrender their life insurance policies resulting to loss of coverage. When clients surrender their life insurance policies, they would not only lose coverage but also they will not get all their money back because of the insurance fees collected by the insurance company.

Start building your emergency fund today. If you already have an emergency fund, I recommend you even increase it to cover more months.  I suggest you have a separate bank account to put your emergency fund. Do not mix it up to your regular bank account. Also, with will power, fight the temptation to use your emergency fund to pay for unnecessary things. Remember that your emergency fund is intended for emergencies only. Using it for travel expenses and mall shopping is a big NO!

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The Importance of Having an Emergency Fund

Whenever I do financial planning to my clients, I always discuss the importance of building an emergency fund, which is the money set aside to cover emergencies or life’s unexpected events such as unemployment, medical expenses, home repairs, natural disasters, vehicle repairs etc. The fund should easily be accessible, meaning it can be withdrawn from Read More

Insurance is Real : Sun Life Do Pay Claims!

INSURANCE IS REAL. TRUE TO LIFE. (Credit to Paul Jenser Banayo, my classmate in our Certified Wealth Planner class and Unit Manager of a Sun Life new business office. Originally posted in Facebook last June 8, 2017) One of my advisors, Marie Genevive Diaz, has a client whom we pushed so hard to secure a Read More

List of Accredited Schengen Visa Travel Insurance Companies in the Philippines

Apply for Schengen Travel Insurance here: http://www.moneytalkph.com/travel-insurance/travel-insurance-for-schengen-visa-in-the-philippines/ Apply for Non-Schengen Travel Insurance here: http://www.moneytalkph.com/travel-insurance/affordable-travel-insurance-philippines/   Travel insurance is a requirement when applying for a Schengen Visa, the visa you apply for when you travel to most of the European countries. The minimum coverage requirement is 30,000 euros or 1.6 Million pesos. I complied this list of travel Read More

Travel Insurance for Schengen Visa in the Philippines

A Schengen Visa is a document issued by appropriate authorities to an interested party for visiting or traveling to and within the Schengen Area. The Schengen Area includes 26 countries that have agreed to allow free movement of their citizens within this area as a single country. Of these 26 countries bound by the Schengen Read More

BPI/MS Automobile/Car Insurance Quotation Request

Car accidents happen, anywhere, anytime. Sometimes it would be your fault, sometimes it would be others fault. Even you drive carefully and safely, there will always be reckless and irresponsible drivers on the road especially in the Philippines where traffic laws are blatantly taken for granted. Don’t forget flood, typhoon, earthquakes and thieves – the Read More

Affordable Travel Insurance Philippines: Schengen and Non-Schengen Travel Insurance

Many Filipinos who travel abroad today don’t purchase travel insurance before they depart. Travelers only buy travel insurance when it is required. Required or not, travel insurance is very important when traveling abroad. When you get sick or suffered injuries abroad, your travel insurance can cover your medical expenses. Your local travel insurance provider will Read More

2016 Sun Life President’s Month Awardee

I lovingly dedicate this award to my clients who made one of their best decisions in life last quarter of 2016; they decided to secure their future and their family’s future with a Sun Life Plan. Instead of splurging all their Christmas bonuses and 13th month pay on gifts, they firmly decided to put some Read More

TV Guesting ANC on the Money – Talking About How Blogs and Social Media Influence Personal Finance Actions of Filipinos

Lianne Laroya of Wiseliving.com, Garry De Castro of FinancialPlanningPH.com, Gerald of InvestmentJuan01.com and yours truly of MoneyTalk.PH were invited to a “roundtable” discussion about the influence of blogs and social media on the personal finance actions of Filipinos. The show is called ANC on the Money which will be shown on Friday November 25, 2016 Read More

Get Your Life Insurance Policy While You are Young, Healthy and Have the Capacity to Pay

We have a saying in Filipino that says “nasa huli ang pagsisisi”. As a financial advisor in few years, I met a lot of people who regret not getting life insurance when they were young, healthy and have the capacity to pay. They realized the importance of life insurance until it’s too late already. They Read More

WATCH: Judy Ann Santos TV Commercial on Sun Life’s My Future Fund

I highly commend Sun Life for getting Miss Judy Ann Santos as endorser of MyFuture Fund. The commercial is very effective as many Filipinos are inquiring about this product since the launch of the commercial. Judy Ann’s credibility as an actress and her touching story as a young breadwinner in the past and today as Read More