A little planning can go a long way. So whether you’re looking for a life insurance coverage with savings that everyone can enjoy, or an investment that protects you and those you care about, find what you need here.
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Does the term “life insurance” either bores or freaks you out? You’re not alone. But really, insurance is a simple product with immense benefits. Here are what you need to know about this life essential.
Insurance is often underrated. It is one of life’s essentials, definitely something that every family should have, especially in these uncertain times. Unfortunately, here in the Philippines, not many people realize its worth, until it’s already too late. Charge that to a lot of misconceptions about life insurance. Here are some of them.
It’s not important
People tend to discount the value of insurance, thinking that they don’t really need it at all. But the truth is, it is important in safeguarding your future and your family. We live in uncertain times now and it is important that you have your future covered. There are a variety of insurance products that offer specific coverage like FWD Life Insurance’s Fight Plan, which covers people when they are diagnosed with cancer or Peace, which insures people against terrorist attacks.
It’s for old people
This is one misconception that is truly unfortunate because it robs young people of the chance to start insuring themselves early. Insurance is not for old people. In fact, when it comes to getting an insurance, the younger you are, the better because you will pay less amounts and you will have more time to pay for it.
It’s about death.
Most people think that life insurance is synonymous to death, that you are getting one when you are about to die. Insurance products offer more than life protection, it also invests your money so it can grow. Besides, you are insuring your life so your family can live better. How can that be about death?
I’m already covered
Some people think that just because they already have insurance from their companies, they are already covered. Wrong. You can never really have too many insurance because this is your security blanket for the future.
It takes too much time
Getting an insurance plan can be fraught with paper works, which can turn a lot of people off. Thanks to computerization and digitization, it’s not as tedious as before. There are also agents who will assist you in completing your requirements. Remember, you need to complete them to avoid the hassle when you claim.
There are different kinds of insurance and it is offered by different companies. It can be expensive but it shouldn’t be. You just have to find the best deals. FWD Life Philippines, for instance, offers an affordable life insurance product that comes with an investment option. Set for Life can only cost you PhP1,500 a month. You can also choose pay over five or ten years – whichever suits you best.