Imagine waking up to your worst week.
Turning your phone on and being greeted by your sister pestering you with calls and texts about her overdue tuition fee; as soon as you walk through the door you see a huge pile of house bills; and eventually opening up the expensive hospitalization bill from your mother’s recent confinement.
That’s the scene Celia lived through, a young 20 something, thought of as the breadwinner for her family, who struggles to make ends meet. She was tired, over worked, and stressed out by simply thinking of her savings slowly dwindle.
Later that week, she continued on with her mundane routine, grabbing her morning coffee, slightly dragging herself to the worn-out car she inherited from her uncle, driving towards her office which was miles away, and then proceeded to drown herself in thinking of solutions for her money woes.
Immersed as she was with her thoughts, she took little notice of her surroundings, particularly with the oncoming trailer van. It was not until she heard the strident blare of the vehicle in front of her that she came to her senses, but it was far too late for Celia to swerve the wheel. In the few milliseconds before the trailer van and her car had crashed, one of the recurring thoughts she had was, what would happen to her family?
Now, think about it, who would be left to care for the loved ones you have left behind? Celia’s story might be fictional, but it is an everyday reality that can happen to anyone, bearing the burden of leaving your loved ones to fend for themselves.
Growing up, getting a job, providing for your family’s needs…it all seems rather formulaic, isn’t it? It seems like everyone follows a certain flow when it comes to living but then what most people don’t realize is that there are things that could disrupt the system.
There is always the option to safeguard your future, and listed below are more reasons to get yourself insured as early as possible:
In the Philippines, health insurance is a common benefit offered by employers, but life insurance is rather rare to come by, and comprehensive insurance even more so. However, should one be lucky enough to enjoy this perk; it is (more often than not) insufficient. A common cardinal rule is, that life insurance should provide seven to ten times the insured person’s annual salary.
However, with the country’s present condition, that is hardly possible, which is why individuals try to seek for better insurance offers that can protect them further.
One common misconception is that all insurance coverages are expensive. When, premiums for life insurance are in fact typically cheaper than other forms of insurance and are often less expensive than monthly house bills.
Insurance policies also give the client the option of having a flexible payment plan, whether they wish to pay monthly, quarterly, semi-annually, or annually.
Most people might construe insurance policies as complicated and hard to follow, as just like any financial investment, insurance comes with its own jargon. It may often confuse, and eventually discourage us from buying insurance that we would need later in life.
When deciding which policy is best for you, discuss the terms and options indicated, with a reliable professional who should be able to simplify it all for you.
One of the common mistakes an individual makes is putting off investing on insurance but it is a reality that the longer you wait, the more you are likely to spend.
As one grows older, he or she becomes a risk making the premiums considerably more expensive than that of a younger individual. What an average 25 year old might spend monthly on premiums is cheaper than what a 50 year old might have to spend, as it is unlikely that one would be healthier at a later age.
Young people should invest in life insurance coverage while premiums are cheap and while coverage are expansive.
While aging and mortality are things one hardly likes to think about, it knocks on our doors every single day. We can never tell when things will meet their end, but it would feel better to know that your care will go beyond time.
One of the primary motivators in driving an individual in purchasing life insurance is protecting the family. Breadwinners like Celia often need the coverage to spare family members from any financial burden should anything unfortunate happen.