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The Value of Having A Life Insurance

Updated on April 6, 2012

The Value of Having A Life Insurance

Life Insurance is the only financial portfolio that offers both PROTECTION and SAVINGS. Life in this world is full of uncertainties and abrupt events that if we are not prepared at any given time, our lives could be totally wrecked and devastated out of the arising situation when total disability or economic failure strikes.

It has been our culture in the Philippines if we belong to the middle or most probably lower classes of society, that financial security is not a subject matter at all. Retirement was not even planned as it should be done with much planning and preparation.

Have we thought of living another fifteen years after we retire from corporate world at 60 or 65? Have we considered the monthly expenses we would possibly incur when maintenance and hospitalization has been included in the budget?

Lets presume a very conservative budget allocation of 30K per month which is designed to sustain a cost of living, this would take 360K per year. For the next 15 years, we need 5.4M, and how much do we have on hand if after rendering our services, we are compensated of 500K retirement funds of the company whom we have worked for during our productive years.

Lets talk about PROTECTION on the other hand. Are we the breadwinner in the family? Do we support the finances of our families? our parents, our siblings or the big part of spending comes from our wallet? Then there is a great high risk of our financial position not only for us but for the family. We never know what is going to happen tomorrow or the next day to come. The breadwinner may suddenly pass and leave this world but the reality exists that education and housing expenses, cost of living and others will continue. Have we realized that leaving this world means leaving also our dependents as orphaned and helpless. Have we thought of their lives and their activities as well will continue as if nothing would change? Life planning is very important and a vital tool to live for. Without a vision, people will perish. Living a quality-rounded life includes planning and visioning. Life is short, don’t just live it, live it abundantly. Stay Blessed.

This calls for a very good planning and requires a professional help from a life planner.

For free consultation, please send me your pm.

Or may contact me as well, my number is 0917-8071516/09065593532 through texting and calls and I’ll be more than glad to assist you.


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    • cristina327 profile image

      Maria Cristina Aquino Santander 6 years ago from Manila

      Hi incomeguru I am glad to hear from you. I do really appreciate your visit and comment. Thank you for gracing this hub. I am greatly encouraged by your visit. Blessings to you always and best regards.

    • incomeguru profile image

      Oyewole Folarin 6 years ago from Lagos

      Most people seem to take little note of this fact or even ignore it totally.

      They failed to realize that life could be terminated at any minute without warning. And failure to plan is planning to fail.

    • cristina327 profile image

      Maria Cristina Aquino Santander 6 years ago from Manila

      Hi teaches 12345 great to hear from you again. Thank you for dropping by and appreciating this hub. Remain blessed always and best regards.

    • teaches12345 profile image

      Dianna Mendez 6 years ago

      Life insurance is a great cushion to have if you can afford the cost. Companies used to provide a certain amount to employees but I don't know if this holds true anymore. Good topic with interesting points.