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How Important is Life Insurance?

Certainty is the fuel to success. When you are certain to anything it is always the sure bullet to attain success in life. However, we live in a world of uncertainty. For this reason, we use some tools in order to avoid huge losses on our savings in an event of unexpected happenings. In this article, we will talk about how important is life insurance.

Love Insurance – Retirement

Some people call Life Insurance as “Love Insurance“. They treat this as one of the simple gifts that they can give to their love ones. Some people do not see the beauty of life insurance until they come to a point that they need it. And most of the time they are unable to secure one because they are no longer qualified. Let’s take for example the situation of my friend. He is now 40 years old and he wants to get life insurance. Unfortunately, is no longer qualified to get one because of his condition. Check his life story here.

Educational Fund

Get Life Insurance while you are still young and while you still can. When you are young there is a higher probability of getting approved. When you are young, the premium fee is lower than when you get older and have a sickness. When you are young you have a higher probability of paying the fee because you do not have a lot of responsibilities. When I started my own plan I was 26, I was single and I don’t have other responsibilities to take care. I took a 10-year plan without knowing that right now I could use it as my educational plan for my little one.

Income Continuation

Also, Life Insurance can be used as an investment for your retirement. Unlike traditional plans which cover sickness, accident and death products there are other plans which can be used as an investment. This type of plan is commonly called as VUL(Variable Universal Plan).

Lets take a look at the example below:

Age4%8%10%
235,2715,5305,660
2414,44415,45115,963
2527,48429,72830,890
2643,66247,80549,987
2760,46067,28470,939
2879,67790,10195,781
2999,632114,691123,041
30120,354141,191152,954
31141,872169,752185,780
32166,596203,289224,772
The client is Female, 22 years old, Non-Smoker, Php 400K Protection

Illustration based on Equity (100%)

Now, you might be asking why and how I could be able to formulate like this information? Well, I work as a financial consultant under Sun Life Financials and I have advised many professionals who had made the best decision on their finances. You too, you can make your best decision. If you still have questions, you may reach me on our contact details.

We specialize in 

  • Term Insurance
  • Universal Life Insurance
  • Mutual Funds

What is life insurance?

Life insurance, simply put, gives you peace of mind.
Life Insurance is designed specifically to take care of the financial burdens that occur on the death of yourself or a loved one. It pays a death benefit (also called “Face Amount”) to your beneficiary at your death. This death benefit can be used for many things, including funeral expenses, mortgage debt or other final expenses. The beauty with life insurance is that you can tailor the coverage to your needs.

But life insurance is expensive. Right?

No, not necessarily. 80% of us are deterred from purchasing the right level of coverage because we believe it to be too expensive; that’s a huge number of our loved ones who are going to be left with debts when we die. There are many types of life insurance policies available, with products to suit every budget.
Yet, because of the specific way that life insurance is calculated (taking into account factors such as age, medical history and lifestyle), most of us will find it to be much more affordable than we originally thought.

Be sure to get your FREE Life Insurance quotes at the bottom of this page!

What types of life insurance policies are there?

There are many different types of life insurance and we are happy to help you decide which coverage best suits your needs. Some of the products we carry are:

Term Life Insurance – Generally the most affordable option, this policy will give you death benefit coverage for a specific period of time or ‘term’.

Universal Life Insurance – This is designed to last a lifetime, which is the main difference between term and whole or universal life insurance.

Get a Free Quote or Contact us.

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39 thoughts on “How Important is Life Insurance?

  1. Hello there, simply changed into alert to your weblog via Google, and located that it is truly informative. I’m going to watch out for brussels. I’ll be grateful in case you continue this in future. A lot of other people shall be benefited out of your writing. Cheers!

  2. Hi, Your article gave us more information about life insurance & mutual funds. Keep writing! I am sure there will always be something to take from here. All the best! Cheers!

  3. This is really great information about life insurance and everyone should be able to know about this and get to find out more information.

  4. I have been debating getting life insurance since I have kids especially. It is something good to look into to protect them in case of a worst case scenario.

  5. The payout from a life insurance policy can provide a financial safety net that helps your loved ones pay for expenses such as a mortgage, childcare, and many other day-to-day bills that come with adulthood. … Replace lost income and pay living expenses, like rent or a mortgage. Pay debts you leave behind.

  6. This is such a great reminder. I know that when I worked, I was able to pay into life insurance for a great price and now that I stay home and my husband has a different job, it’s important to make sure that we’re still covered.

  7. I like information that educates in a clear way so good decisions can be made. Thanks for making ‘life insurance’ more understandable. What is that saying” “If every woman knew what every widow knows, no home would be without some form of insurance.”

  8. My hubby and I definitely understand the importance of life insurance. Now that we have kids it is a must have.

  9. We both have life insurance in my marriage and view it as very important. It’s an investment in your future should you ever need it, it’s what insurance is for.

  10. Thanks for the tips. I have recently though if I need life insurance or not. I might buy a policy in the future.

  11. I have always had life insurance. I think it will probably be wasted money, lol. But just in case we are covered.

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