24/09/2023
*WORTH READING*
A friend once told me:
"Ayoko ng insurance kasi unang una, pinapayaman mo lang ang ahente dyan."
My friend didn't know that I am part of the industry already. And when I told him that I'm also a financial advisor, I saw a hint of embarrassment on his face. But don't get me wrong, I still love my friend despite his statement. Hahaha! It just made me realize though, that it could be one of the many reasons (or excuses) of people why they don't want to get an insurance.
And because of that skepticism why a lot of people are losing a lot of opportunity to prepare.
I was like, they don't know what they are missing!
They do not realize the circumstances of their traditional beliefs:
1. Putting ALL their money in the bank and let it hang there with a very small interest which can't even keep up with inflation;
2. Buying a lot of properties which they want to pass on to their heirs when they die, not realizing that their heirs wont be able to get it unless they pay for the estate tax (6% of the total value of the property);
3. Putting ALL their money to stock market, not realizing that this is also subject to estate tax;
4. Just depending on their company's health benefits as if they will be an employee forever.
But here are the realities of life:
1. Insurance nowadays can be enjoyed even when you are still alive (for retirement purposes);
2. One cannot escape these two things: DEATH AND TAXES
3. YOU DON'T WANT TO BE AN EMPLOYEE FOREVER. Sooner or later you also want to retire comfortably;
4. Illness, be it minor or critical, normally comes when you are old and can no longer provide for yourself.
5. Sooner or later your kids will go to college and you would want them to go to the best school.
6. SINANAY MO ANG PAMILYA MO SA GANYANG LIFESTYLE BUWAN BUWAN, do you expect them to immediately adjust to a lifestyle that they are not used to if you are gone?
So guys, if you can only promise all the financial advisors these three things:
1. YOU WON'T GET OLD
2. YOU WON'T GET SICK
3. YOU WON'T DIE
YOU DO NOT KNOW WHAT YOU ARE MISSING. Financial advisors can always get another believer and turn them into a client, but you can NEVER GET ANOTHER INSURANCE if you are already sick or if you are already dead.
Ccto
