07/03/2019
✨ WHY I HAVE FOUR INSURANCE POLICIES AT THE AGE OF 27 ✨
I was so excited when my mom told me that my fourth insurance policy was already delivered to our house.
When I arrived from my UAE trip, yun ang una kong naisip. Parang high school na kinikilig na gusto ko nang mabasa yung policy ko! I am not even kidding.
There’s always a different kind of joy when you place your money for things that you know will give you more money in the future. It’s like a gift for my future self na, “O bruha, astig ako at mahal kita kaya binibigay ko ‘to sayo.”
In total, my parents, kuya, and niece will have guaranteed benefits (if ever I pass away) of Php 14M. Hindi sa inyo mapupunta ito so wag niyo akong patayin lols.
Aside from their Php 14M, I may also get around Php 10M if ever I get critically ill or if I get into an accident.
Should nothing happen to me, meron pa ring posibilidad na maenjoy ko lahat ng ininvest ko na lumago na because a part of my payments go to units in bonds and equities. Though not guaranteed, this is still definitely better than placing my money under the bed or letting my money sleep in the bank (na, by the way, hindi naman talaga natutulog sa banko kase ginagamit siya ng banko sa gera while they give me a puny interest less than 1% juskoday).
Lahat ito sa halagang Php 3,500 to Php 10,000 per month.
I actually already have six, but I canceled two because I wasn’t happy with their growth - both VULs.
I have received a lot of messages asking why I don’t like VULs. Hindi naman sa ayaw ko ng VUL. It’s just that life insurance policies are not the one-size-fits-all type of investment. For someone like me who enjoys trading and business profits, hindi ako masaya with the returns. FOR ME YUN.
VULs are great for those who are fine with letting fund managers make money for them and they're really good for those na medyo buma-budget muna sa pag iinvest. VULs are super affordable, they let you grow your money in bonds and equities, and you also get GUARANTEED benefits from it.
BUT, I would suggest that if you’re planning to get a VUL, wag mong isipin na parang sa trades ito. Trading, for me, has been my way of multiplying what I already have. Look at your VULs as a source of INCOME PROTECTION - protecting what you already have WITH a CHANCE na ma-grow yung pera mo.
Sa first five years, don’t expect your money to grow. Pag winithdraw mo pa yan may charges pa. Look at your policies as LONG TERM investments na lumalago at pinoprotektahan ang pera mo WHILE you work on other money making skills like trading.
Though I already have four, I’m not planning to stop buying insurance policies. Three reasons:
1 ) AYOKONG MAGING LIABILITY SA PAMILYA KO
If ever I get critically ill or if I lose my businesses or if I get into an accident, I don’t want to give my family the burden of paying for everything.
Wag na tayo magpaka plastic lol dahil totoo naman: Pag wala kang insurance, sino ba gagastos ng lahat? Eh pano kung wala rin silang pera, uutang ka?
Or if you do have money, ibig sabihin ba na lahat ng pinag ipunan mo nang sobrang tagal mapupunta lang sa ospital? Guuurl no.
I don’t want to be a liability for my family. While I still can, I want to be able to pay on my own.
Though I know that they love me and they would be willing to support me financially, I also know that I love them and I am willing to protect my income so that they would still be financially capable even if something happens to me.
2 ) ONE POLICY IS NOT ENOUGH TO COVER MY FUTURE
I’m currently with Prulife UK as a Unit Manager (woooo NFG Global! Join my team beh?) but I buy different types of policies from different companies.
I have policies for my health, I have policies meant for my future self, and all of them are for my loved ones.
When I get married, I’ll get a policy with my husband as the beneficiary.
When I give birth, I’ll get a policy with my kids as beneficiaries.
When my kids grow a little older, I will get policies with my kids as the insured individuals.
In any life stage, I will get a policy.
To be honest, the businesses and my trades are more than enough to cover for my whole life. So pano na lang yung mga walang kita sa trade o business o mga empleyado na sinasabeng "Hindi ko kailangan niyan?" LOLOLOLOL. Even if I already have money, I won’t risk losing what I already have to just to pay for unexpected realities. Ayoko nga.
3 ) I’M STILL YOUNG
Simpleng rason: Habang mas bata, mas mura. At habang mas bata, mas maraming oras na lumago ang pera ko.
I don’t really buy insurance policies for investments because I use trading to grow my money.
Pero, since andyan na, nilagyan ko na rin. Some are in pure bonds. Some in pure equities. Yung isa naman is an equal mix of both.
Just like in trading and in my other businesses, I use the biggest money super power of all: COMPOUND INTEREST.
Ang kakampi mo dito, oras.
Basically, the earlier you start, mas malaki yung potential money na makukuha mo. And I am saying potential, because just like other investments, nothing is ever guaranteed (except for death benefits).
Kaya sa totoo lang, nanghihinayang ako pag may taong wala pa ring insurance. Kesyo mag trade na lang daw o mag negosyo. K… basahin mo yung post ko called “WHY TRADING ISN’T FOR YOU (YET)”, sis: http://bit.ly/nfg-notforyouyet
Oh, and habang tumatanda ka pala teh, mas lumalaki yung chance na ma-reject ka na as a policy holder (yep, that happens) kase mas risky ka na maging kliyente (translation: mas may chance ka nang magkasakit at mamatay lels).
LAM NYO BA.... LESS THAN 14% LANG NG PINOY ANG INSURED OH MY GAHD MAS MARAMI PANG KOTSE ANG INSURED BAQUUUIIITTTTT
You know what I don’t like about some financial advisors online?
I don't like those who diss people who buy Starbucks pero walang insurance.
Juskoday sobrang najirit ako doon sa isa sabe pa: “Anong mas gusto mo, boyfriend na gamer o boyfriend na businessman? Buy insurance now. ” stahp.
Eh pano kung yung jowa ko gamer kase his trades and passive income are more than enough already and he has so much time to play games?! Oo, triggeredth acoe. ( Insured din yung jowa ko btw ❤ )
As advisors and coaches, our job is to help people keep their desired lifestyle WISELY. Eh kung gusto niya talaga ng Starbucks? There are other ways to fix his/her budget so that there would be room for investments like life insurance policies.
That’s how I got four policies and how I am going to get my fifth: proper allocation of finances WITHOUT having to sacrifice the things I like.
Tell me to stop travelling para magkainsurance ako, uupakan talaga kita hahaha because travelling is important FOR ME.
Tulad ng we were not born just to pay bills, we were also not born just to invest lols.
So, I’m telling yung mga sis, there is room for you to protect your income and you don’t have to sacrifice your lifestyle for something as important as this one.
So stop the excuses.
I hope this somehow enlightens you to be a wiser spender and investor. Have fun!
---
[UPDATE] I now have 6 life insurance policies. Hahahaha wooot!
🥳 Life insurance? www.bit.ly/nfg-lifeinsurancequote
🥳 Wanna become a licensed financial advisor? Send your resume to [email protected]
🥳 Forex trading? Free mini course here: www.nomadfinancegirl.com and physical classes by Leo Advantage here: www.theleoadvantage.com
🥳 Instagram / Twitter
🥳 Partnerships and proposals: [email protected]
