Posts Tagged ‘life insurance’
Saving the Way to College sans Education Plans
Saving the Way to College
by: Kendrick Chua, the Wealth Warrior
First appeared in May-June 2009 of Money Sense. Was also my first paid article
Norma (not her real name), who is connected to one of the biggest educational plan providers before, can’t help but cringed when I asked her how people are reacting now towards educational plans. Her facial expression mimics the sentiments of her clients and their more subtle way of rejecting her.
Twenty years back, it was unthinkable that education plans will now be received with hostility. When educational plans were first launched, they were a much sought-after investment instrument by the public. After all, education is one of the major financial priorities of Filipino parents and the burden of a forthcoming college education cost is no laughing matter.
Tags: education plans, life insurance, Mutual Funds, stocks
Alleviating the Pain
Alleviating the pain
by: Kendrick Chua, the Wealth Warrior
Death sometimes come to those who least expect it. Some actually do. But it doesn’t make the pain of losing a love one less. But maybe, just maybe, the life insurance proceeds do.
Recently, the husband of a friend passed away. Although still strong and young (fifties are still young), it was apparently his time to meet the Creator. My friend is known for being emotional and sentimental and we wouldn’t expect any less at this trying time.
Although they are quite well-to-do, business wasn’t really doing well recently. Fortunately, the husband was insured for a substantial amount. And so my friend kidded that if it wasn’t for the life insurance proceeds, her sobs would be much louder.
Oh don’t get it wrong. Nobody wants our love ones dead and no amount of money can revive them but death is an inevitable incident all of us must face. It was the same death that took my friend’s husband.
Life insurance is a gift of love. The husband provided for the family and it (the money, not the death) couldn’t have come at a better time. A couple of millions of pesos can certainly alleviate some of that pain.
Looking back twenty five years ago, my friend realized what an excellent decision they made! After persistent follow-ups by the agent, they finally decided to push through with it. In between the time they took one out and the time of death, it served as a contingency for the growing family and even proved useful for generating liquidity. It served its purpose when he was alive and served its purposed once again when he passed away.
I am an advocate of life insurance (which should be obvious by now) and so I post this question to all uninsured or underinsured individuals. Just think about this: would you want your spouse, at your wake, telling every guest who paid their last respect what a wonderful and responsible man you are for taking out a life insurance or crying her heart out on how she and your children can continue living?
The choice is yours to make but hope it’s not the one you’d regret at the other side.
Tags: life insurance
The Best Time to Buy Life Insurance
The Best Time to Buy Life Insurance
by: Kendrick Chua, the Wealth Warrior
Just recently, one of the moms I interviewed for my blog post, Super Single Mom has been diagnosed with an enlarged heart that had her confined for several days. Fortunately, she has been discharged and declared out of danger but the risk of collapsing any time is imminent.
Unfortunately for her, she doesn’t have any life insurance and even if she decided to take out one for contingency purposes for her family, there is a great chance insurance companies will deny her case.
She’s only 31 and has four children.
Her case is just an example of how illnesses can creep up like the Angel of Death, striking silently and without warning, all too often leaving his (or probably her) victims, flat-footed and aghast.
With that, why is it a lot of people, who believes in the importance of life insurance, still doesn’t get one?
My theory: It’s not important now. It might be in the future, but not at the moment. They couldn’t be more wrong.
Tags: life insurance
Life Insurance Video
A powerful commercial by Prudential Life Korea. The video sums up the love of a father for his family by securing their future through the purchase of a life insurance contract.
Tags: life insurance, videos
