Importance of having a life insurance in the Philippines
It’s probably a point of pride that you can provide for your family. Whether you’re in the workforce or staying at home to raise the kids while your spouse works, it’s just not an option to cut groceries, housing and clothing out of your budget. These are things your children need to survive and thrive.
And yet many parents are rolling the dice on doing just that, by failing to get adequate life insurance. Life insurance is a policy that will provide money for your children, you or your spouse in the event of your death or your spouse’s. Its purpose is to replace some or all of the income lost when one of you passes away. Without it, if you or your spouse dies, whoever is left will have to figure out a way to replace that lost income–all while going through the tragedy of losing a loved one.
Life insurance in the Philippines is for everyone. You may be a couple in which one is working and other is not, it’s available to families in which one parent stays at home or both parents are working, and for individuals who are have at least one to two years of working experience.
I truly believe that a life insurance is a must-have investment in the Philippines. Putting aside a budget for it is a great investment rather than spending too much on other things that you may not really need e.g. Gadgets, Parties and etc. Let’s take Starbucks as an example (no pun intended). Every coffee you buy costs 150 bucks and you go there three times a week, in a month you’ve already spent 1,800. Imagine if you try to limit your visit to a coffee shop to once a week, you could have saved 1,200. That monthly amount is already enough for you to start to invest it on a life insurance program.
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