05/03/2022
Hands up to all millennials and newly weds out there…🙋🏽♀️🙋🏽
As a financial advisor, I have been told many times na ang insurance pag matanda lang daw. In fact, madaming may akala na hindi naman ito magagamit habang buhay pa.
Historically, as in nung mga unang panahon- oo. Pero in recent years, there is more to life insurance than meets the eye.
Life insurance can be used for more than just death benefits? In fact, there are several alternative uses for insurance that can help you and your family in a variety of ways.
As a millennial or someone starting their family, you may not have considered life insurance as something relevant to your current needs.
However, it is actually a very useful tool that can provide financial security for yourself and your loved ones. Aside from life insurance benefits, accident benefits, and investment, here are a few alternative uses for life insurance that you may not have thought of:
1. You can use it to pay debts.
If someone unexpectedly dies, madalas ang naiwang pamilya ang magbabayad ng utang nya. In most cases, need pang umutang pambayad ng naiwang utang, and we don’t want that to happen- additional financial stress on top of the emotional stress of losing a loved one.
Life insurance benefits = income replacement. Income to help cover essential expenses, such as daily expenses, paying a mortgage or tuition for your children.
Retirement
SSS and GSIS pensions are not enough to cover your expenses when you have retired. Maintenance meds pa lang magkano na right? What if may mga anak pa na nag-aaral after you retire, is pension enough to sustain your family’s financial needs? Or a health major emergency needs to be addressed right away? We never know what’s gonna happen in the future but we can be financially prepared now para walang pagsisisi sa huli.
Masmagandang “Buti na lang 😊” kesa “Sayang…😭”
Protect Your Business
If your venture into a business, you have a lot to protect—your business, your employees, and your family. If one of your partners or key employees dies or becomes disabled, hindi dapat maapektuhan ang operations ng business.
Being insured helps with business continuation when a partner or key employee dies. It can also help facilitate the exchange of business ownership in the event of your or a partner’s retirement, disability, or death—without depleting the business’ capital.
Pay for Estate Tax
Imagine, namatayan na nga may tax pa. Yes, unfortunately unless this is paid, you cannot claim the estate of your loved one- meaning lahat ng ari-arian ng namatay ay hindi agad accessible sa mga naiwan unless mabayran ang tax. While this rightfully belongs to the family, it may take many months or even years to claim it.
Ang ending, this will leave your loved ones without a steady income to pay the mounting bills. Estate planning insurance gives your loved ones access to funds that they can readily use to pay the estate tax so the transfer of titles is smoother, and leaves them with some extra money to help get them by.
So if you’re thinking bata pa naman ako at maliit pa lang pamilya ko, mas maganda nga na ngayon mo na simulan-
habang bata ka at wala pang utang
habang bata pa at malakas pa para magtrabaho
habang bata pa at may trabaho
habang bata pa at wala pang malalaking pagkakagastusan
habang bata ka at maliit pa premium
habang kaya mo pa…
treat it as an expense, an expense now pero money mo rin later.
Tara, send ka ng message para makagawa tayo ng sample proposal na fit sa needs and budget mo ngayon.
