Insurance 101

"So many people spend their HEALTH gaining WEALTH and then spend their WEALTH to regain theirHEALTH “

A.J. Reb Materi

When you say insurance, Filipinos seem not comfortable talking about it. They get intimidated, they think its complicated and it’s only for the rich and famous. Being insured means securing your family and loved ones future. You work hard to earn money to give a good life to your family; but what happens when you get out of the picture? What will happen to your family?

I admit that there was a time in my life when I never wanted to discuss anything about insurance. I thought that by getting an insurance policy ,  I’d die sooner. (Stupid thought I guess). It took me a while  before I warmed up to the idea of buying a life insurance policy. I guess it was not explained thoroughly to me or I was just not open about it. It took me a while before I realized its purpose and why it was important.

Term Insurance were common before, but now, people prefer the Variable Life Insurance or what we commonly call – VUL. It’s a mix of insurance and investment depending on the policyholder’s choice and investment risk appetite.

Nowadays, we’re lucky that we have a lot of Insurance options to choose from; whether it’s something with endowment, with investment, one time payment, regular payment , etc.

If you’ve yet to get your first insurance policy, or have never spoken to a Financial Advisor, your own apprehension may stem from inaccurate or misguided ideas about insurance.

Don’t just listen to other people telling you myths about insurance. Don’t let those false information stand between you and  financial security.

Talk to a Licensed Financial Advisor instead. They’re licensed for a reason. Consultation is FREE so there’s really nothing to lose.