13/08/2026
My Great Failure as a Financial Advisor
"Cancel ko nalang insurance."
A client’s life insurance was being paid by her daughter. She said this February would be the last payment since her family relative had told her to put the money into a loan business that supposedly earned 3% every month — guaranteed.
If something truly earned 3% a month with no risk, I would sell everything and put my own money there. No such thing exists in legitimate markets.
I explained why the insurance still mattered and even reduced the plan so it would cost less. The decision was hers.
Premiums stopped after February. The policy was still new, so it lapsed in June. In July the mother passed away.
My deepest condolences to the family. Rest in peace.
This is not an “I told you so” story. There is no satisfaction in being right when a family has lost someone they love. I still ask myself:
Could I have done more?
Some colleagues would have pushed back harder. Maybe I should have painted the consequences more clearly. At the same time I know that time is limited. Minutes spent trying to convince someone who has already decided are minutes I cannot give to people who are welcome the opportunity.
The larger lesson:
Be very careful whose financial advice you follow — and whose advice you give.
If you do not understand investing, risk, or insurance, do not give confident financial advice to other people, especially when it affects someone else’s family.
Insurance is not just an investment. Stocks, real estate, and businesses may offer higher returns, but they do not replace the life cover that pays when a person is no longer here.
So do not only ask “How much will my money earn?”
Also ask “What happens to the people who depend on me if I am no longer here?”
I cannot help everyone. When I believe a decision carries serious consequence, I will state it clearly. If the person still chooses otherwise, I respect the decision and move on.
I strongly recommend that everyone have life insurance — even the most affordable coverage you can find. You do not have to get it from me. Get it from any reputable insurer or licensed agent.
Insurance is not meant to make you rich. It is meant to protect the people you leave behind.
Death, accidents, and critical illness are already painful human tragedies. Not being insured makes them financial ones as well.
Help those who want to be helped. One person at a time.
Death, accidents, and critical illness are human tragedies. Not being properly insured turns them into financial tragedies as well.
