09/06/2022
In the Philippines, people don't talk about insurance as much as they talk about investments. While insurance is not a fun topic, it is a critical part of your financial strategy.
Many people don't understand what insurance is and so only a few want to buy it. Even those who buy insurance don't actually understand it or appreciate its importance in building and preserving wealth. As a result, many people don't have insurance. If they do, the coverage is usually not enough.
Today, people have all kinds of protection. They insure their house, cars, phones, and appliances. They even buy travel insurance for their vacations.
However, when it comes to life insurance, people remain skeptical. The most important insurance that can protect their family and their children is the one that is not taken seriously.
Life insurance doesn't insure your life. It insures your family's ability to continue on without being financially devastated.
Some people rely on the insurance provided by the company they work for. This is usually not enough to cover a family's expenses. What's more, once they resign or retire from their respective companies, their insurance coverage also stops.
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