06/07/2022
5 Things You Must Know About Insurance in Your 20’s
1. Life insurance is cheaper while you are young
Insurance premiums are cheaper when you apply at a younger age, because you are perceived to have lower risk of death or contracting a serious illness. Many people postpone getting an insurance policy in their 30s or 40s, not realizing that they could have gotten a better deal - as well as much-needed protection - on securing one in their 20s.
2. It is a better investment than material goods
For young professionals, it is always an exciting experience to make and manage your own money for the first time. Understandably, you would want to buy material items, like a smartphone or a snazzy pair of sneakers, that you have only dreamed of before, and now have the means to actually obtain. However, the thing with material items is that their value often depreciates over time. Inversely, an insurance plan’s value remains - its amount will remain the same as of the day you signed the contract, and can, provide you with an extra layer of protection and security as the years go by.
3. It does not need to cost much
Those in their 20s may have heard of the benefits of securing an insurance plan but are reluctant to invest, for fear that they will need to shell out a significant amount to do so. This is not the case. Nowadays, there are many different kinds of insurance policies that you can choose from so that you can easily get one that fits your lifestyle. The best way to know more about your options is to contact us.
4. It is easy to learn everything you need to know
The word “insurance” may seem daunting. What does it mean? What does it cover? Why would I need one?
It is a good thing that the answers to all your questions are available at your fingertips. You can learn more about the different kinds of insurance policies all in one
website, check social media for updates, or simply call a hotline. Not only that, but there are also many Life Changers available to talk to, and give you all the guidance you need.
How old are you now? Insurance plans generally cost less at lower ages. Cost of insurance at younger ages represents lower risk of disease or mortality.
5. It is easy to start investing in an insurance plan today
Despite the wealth of information available, you may still be cautious at the thought that insurance is complex and difficult to understand. This fear should not get in the way of your investment and wealth-building journey, especially when there are variable unit-linked (VUL) insurance plans that you can look into.
A VUL policy allows you the opportunity to enjoy the benefits and protection of life insurance, while investing in professionally-managed fund offerings. . This means that not only do you get peace of mind from being insured, you also get the chance to earn passive income that can be partially withdrawn. Most VUL policies in the Philippines also come with health insurance coverage through riders, which will often cover critical illnesses and accidents.
Ctto: Allianz PNB Life Insurance Inc. 2020.