Do you invest for your life insurance?

Angeles City, Philippines
June 5, 2017 10:23pm CST
Many people do believe in life insurances especially CANADA and USA. But here in the Philippines for the total population only 2% who would own life insurance. People from Canada and USA could not go out their home if they don't have insurance. Here in the Philippines they don't even care if they have a life insurance. Why should own? 1. If you are head of the family, all of them depends on you, what if suddenly accident happened? What your family would be? If you are disabled already or worst comes to worst, let say you died from the accident. How will they live? 2. How will you send you child/children to collage? Saving money to the bank? You think is that enough for their educational fund? Remember every year there is a 12% inflation rate most of the collages. Would you think is that enough? 3. When you reach you retirement age. How would you like to live? Where will you get you money from everyday living? From you pension from the company you've work from? The question there, Is it enough your retirement fund that you need? Let's face the reality that we actually experiencing 3.5% inflation every year. How would your pension can afford to live you better?
3 people like this
2 responses
• Philippines
6 Jun 17
We tried philam life before the education version. We end up having a huge card debt. After a while we've settled with the huge debt. I've also tried the UK version but that didn't continue as well.
2 people like this
• Angeles City, Philippines
6 Jun 17
@Letranknight2015 What happened, how come it ended into huge debt?
1 person likes this
@wiLLmaH (8801)
• Singapore, Singapore
10 Jun 17
@dyoizzz_lj i am interested in this loop.
1 person likes this
• Philippines
18 Jun 18
@dyoizzz_lj It was Philam Life UK but we stopped paying.
1 person likes this
@wiLLmaH (8801)
• Singapore, Singapore
6 Jun 17
That is where the financial education comes in. We are lack of it. Actually even saving money is not inculcated in many Filipinos' mind.
1 person likes this
• Angeles City, Philippines
8 Jun 17
@wilLmaH Exactly! They just think about the present. They never comes to their minds about the future especially when one of the family member is sick they don't know where to get money its because lack of savings and investment.
1 person likes this