14/11/2020
Why get insurance?
I often hear people say that paying for insurance is a losing vehicle. But I think of it as otherwise. Having insurance is actually earning yourself benefits that are more than what you paid for.
Take a VUL plan for example that pays P45,000.00/year for 10 years (27 yo, male). The P450,000.00 total premium buys you a P600,000.00 life insurance coverage + P600,000.00 accident and health coverage + P600,000.00 critical illness coverage + up to P730,000.00 hospital benefit + a potential account value worth P1,200,000.00 at the age of 60. That is P3,730,000.00 worth of total benefits. And all that bought only for P450,000.00. Installment pa.
But more than the “monetary” benefit, you want to get insurance because you want peace of mind. You want to protect you and your family from life’s uncertainties. You want to as early now make sure you that you can still be there to provide for your family even if you are no longer physically there for them. You want to save yourself from financial setbacks when emergencies come your way. And you want to have enough fund to continue living your way of life when you retire.
Kaya, anong plano mo? Plan for your family and your future. Usap tayo.