AskHi Sir Fitz and everybody this is my first time to ask a question and i hope you can help me. There is an IMG member who knocks on me and i find it interesting but why do i have to pay 120 euro for the membership and for me it cost a lot.
Another thing is that they were introducing kaiser a medical insurance but im questioning their stability in the long run since i haven’t heard it before. I love to read your blog and there is a portion about Kaiser that you said that it is SEC and DOH accredited but why not also in insurance comission? I’m also confused with the long term care benefits which says a guaranteed benefit which you can use after 15 years whatever sickness you have or you can also use it at age 65 onwards meaning i can use it after 15 years or age 65 onwards its unrealistic right? I need to understand it first before i or we jump in I hope you can help me decide because it will drastically change my life and other ofw’s who work hard for a long years here in abroad. Thank you so much in advance
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6 Responses to “Question About IMG”
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Hi Kay. Membership to IMG varies, depending on where you are based. For 120 Euro, that means you’re based in Rome, Milan or Italy, right?
If you are based in the Philippines, IMG membership only costs P3,700 – and that gives you access to their personal finance seminars.
I don’t know if it’s the same there, but in my personal opinion – if 120 Euro is too much for you, then don’t force yourself to sign up as a member.
I believe it’s best for you to just focus on saving money for now.
Moreover, Kaiser is not a life insurance company, it’s an HMO. IMG is a distributor of Kaiser, not its owner. HMOs are not under the supervision of the Insurance Commission. This is the setup of IMG and Kaiser in the Philippines.
But again, my advise is that if you can’t afford it, then don’t join. Focus first on saving up for an emergency fund, then if you have dependents, avail of a term-life insurance.
When both of those are taken cared of, that’s when you can actually start investing and getting more sophisticated financial products such as VUL’s and long-term health insurance.
Thank you for responding Sir Fitz i really appreciate it, I want to join IMG so that i can help my co ofws and if they have this unlimited personal finance seminar like in Philippines maybe i can think about it but for the meantime it’s a big no for me… Yup here in Milan Italy, Bravo 😀 and our work here is not easy as all you know, that’s why i’m very careful in choosing the right investment..actually i already have an emergency fund and mutual fund but still don’t have an insurance because i’m still in abroad and its late for me to find out that i need one, i’m thinking if i have to get kaiser medical insurance as a replacement for insurance because its the one that is available but again questioning their stability in the long run? is it a good move to get one? as a replacement? please enlighten me again and thank you for the quick response God bless 😀
Kaiser is a long term health insurance, with investment and life insurance benefits. It’s good enough for people with no dependents. But if you’re a breadwinner, a term-life insurance is your best protection.
In the Philippines, IMG is also partnered with Cocolife, so you can likewise get term-life insurance through them. Ask your IMG rep who is their life insurance partner there in Milan.
Sir Fitz thank you again actually your one of my mentor. Your blog inspired me everyday not only in terms of handling money but also uplift me when i’m down through your inspiring messages. I am so excited when img comes because right away I think of you You’r one of their member with kaiser investment so how come it’s not legitimate lol. I am bread winner with my parents but don’t have family on my own. I hope img can provide me term insurance right now that’s my first option but i notice they only introduce the kaiser and then when your a fully member they give all the investment vehicles like insurance… If kaiser is good company for my medical health then i have to get one with free check up etc. and then when i go back home in Philippines hopefully next year i will right away get insurance… hoping also that i’m already a member of img who help our kababayans lol God bless Sir Fitz 😀
High Kay, IMG member here, You cannot get Term Life while you are in Milan, Term Life can be acquired only in Philippines. However you can get term life insurance in Milan Banks perhaps. I do have term life insurance in Saudi Arabia since i am the breadwinner of the family.
I like Kaiser since it has a unique components which is not saturated still in Philippines..
BTW I also blog at http://pinoyinvestmentguide.com/
hello. just to ask, what is the difference of getting philequity mutual fund through IMG compared to getting one directly to philequity. also, does IMG charge a management fee once I get a mutual fund. how much is it? is it comparable or expensive fee compared to others? if I get directly to philequity instead, do they charge management fee too? thank you