How Important is Life Insurance? Is it a Necessity?

Philippines
March 5, 2013 9:14am CST
There are companies that deduct insurance payment automatically from their salary. I work from home so I have to pay my taxes, HMO, etc myself. Someone called me and offered me to have a life insurance. I'm not married yet and I don't have kids. I asked my sister about it and she advised me to get one. If not a life insurance, some insurance once I get old or Health Insurance. So, how important is insurance? Is insurance a necessity?
2 people like this
5 responses
@Mavic123456 (7910)
• Thailand
6 Mar 13
Is this a life insurance? get one and... will you marry me? LOL. Naaah I don't think you should get one if you are not intending to marry and have kids. Who will be your beneficiary, if you die? LOL. Get something like memorial insurance so that when you die, you will have someone to take care of you and you will not be a burden to your sister.
• Philippines
6 Mar 13
Yes, I'm choosing between retirement and memorial now. Thanks Mavic!
• Thailand
7 Mar 13
ahhh you are not marrying me? yes those are good choices... but you will get retirement through your social security right?
@ryanong (9697)
• Vietnam
6 Mar 13
I am single and no kid yet but i get life insurance also, i think it is good if we get it in case we get sick or need money later. Currently i have 3 types of insurances: for going to hospital, for retirement, and life insurance. Depend on your income, you can decide how much do you use for life insurance. Best wish for you!!!
• Philippines
6 Mar 13
Wow. That's a lot to pay. I'm thinking of getting a retirement now than life insurance. I don't think I'll be able to pay all that. You're beneficiaries are lucky then. Thanks ryanong!
5 Mar 13
i spent a lot of money to insurance premiums in the past years. just to realized one day that all of them had lapsed. but when 7 years had passed, i secure three of them again. i realized how important that could be most specially nowadays that i have kids. this is not just a necessity as we may call it...it is primordial. if you love your family, make them secured.
• Philippines
5 Mar 13
I'm beginning to think that I should have got it a years back. Thanks Pinky!
@mariaperalta (19096)
• Mexico
5 Mar 13
I think it is. I have a son and I want to make sure hes taken care of if something happens to me here. So I have one set up to take care of him. My dad, also has one for me and my son.
• Philippines
5 Mar 13
Oh that is good to hear that your parents also insured your son. Well, my parents do not have one so I'm really confused if I should get one or not. Thanks Maria!
• India
22 Apr 13
Thanks for this discussion, health insurance, general life insurance is a must, you don't know what will happen when, more over now you are young, earning you can pay the premiums, choose a long plan of say 30 years, as you keep paying health insurance but there is no claim your premium becomes less.