Do I need life insurance? Important ba?

Posted by Fitz Villafuerte under Personal Finance on November 8, 2011

Single pa ako pero ako ang nagpapa-aral sa isa kong kapatid na nasa college. Kinukulit ako ng isa kong friend na kailangan ko daw ng life insurance – sabi ko naman parang hindi ko naman kailangan kasi bata pa ako.

So yun ang tanong ko, do I need life insurance? Important ba yun for me eh 32 years old pa lang ako, maayos naman trabaho ko kahit hindi mataas ang sweldo – tama lang para sa personal na gastos at sa pambayad ng tuition at baon ng utol ko.

Buhay pa pareho kong parents pero retired na, at yung kapatid ko na lang ang nag-aaral, nasa 3rd college na naman. Salamat.




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8 Responses to “Do I need life insurance? Important ba?”

  1. patrick says:

    For me you only need life insurance if may umaasa syo at ikaw lang ang inaasahan. Since aminin man o hindi pera lang after ng life insurance. pera na magpapatuloy na bubuhay sa mga naiwan.

    My unsolicited advice:
    You are single, have work, walang sariling pamilya, college ang pinag-aaral na pwde nmn mag-working student incase may masamang nangyari syo – wag ka MUNA kumuha ng life insurance.
    Eto malamang sasabihin syo ng mga agent:
    1. the younger the lower you pay sa premium, TAMA sila, pero sayang ang hinuhulog mo, sa commission lang ng agent pupunta yun. ipang-gimik mo na lang ang premium – take note wala nmn umaasa syo (kumbaga breadwinner ka)
    2. life is full of uncertainties… kung may masamang nangyari parang regalo mo na sa mga naiwan mo ang pera na makukuha… naku buhay ka pa pinapatay ka na.

    a. Malamang sa work mo may insurance na bigay ang company, sa ngayong oks na yan.
    b. Saka ka na kumuha kapag may sarili ka ng pamilya at kunin nyo ang family insurance (life, health, medical)… di ko advise na kumuha ka ng VUL o investment link funds, do investment separately… sa agent ulet pupunta ang malaking part ng premium mo.

    O ayan napahaba ang reply ko…hehehe

    Hindi nga pala ako insurance agent… I do my own investment personally 🙂

  2. zac says:

    I am a believer of life insurance. In fact, I myself had already procured one.

    Like you, I am one of the single yuppies enjoying every paycheck that I receive from my work. Just to let you see the picture, I am currently enrolled in the College of Law while working in a bank. I am 23 years old. Our only difference I suppose is the fact that you are supporting your sibling in his schooling.

    Life Insurance is a risk shifting mechanism. You are already 32 years old and soon to have a family of your own. Aren’t you bothered that at your age, you haven’t insured your life yet. Let me go straight to the point, you don’t plan to have a life insurance when you get older, say 40 and have family, while minding other bills necessary bills such as tuition fees of your children, amortization of your house/car, electric and water bills, etc. It’s good that young as you are, naitatanong mo na ang tungkol dito.

    Its still up to you kung ano ang priority mo. Just a heads-up to the foregoing, it is only here in the Philippines that the reception for insurance is a bit off. Try looking at the US, where people there are more optimistic in getting their life insured.

  3. ivyangela says:

    I have my life insurance at the age of 23. I want to be prepared and I don’t find anything wrong in preparing for the future.

    1. If I die, my family has money to replenish the costs for my burial..I’m happy to alleviate any financial stress.

    2. True, the younger you are the lower the premium rate, that is why I got it earlier since I want life insurance.

    3. I don’t mind if the agents got commission on the premium. It’s one of their perks of having their job or should I say it’s part of their job and it’s not illegal. Sometimes you let others to have their bite of the pizza.

  4. futuretaipan says:

    Kung may life insurance ka at *knowck on wood* mamatay ka next year – atleast, makakapag 4th year college ang kapatid mo at may pangtustos pa sa parents nyo.

  5. erds518 says:

    Guys i think this might also help

    Did you heard about Memorial PLANS?

    Sounds Scary right but the fact that this plan is great for our future

    Its because if you have this kind of plans your relatives wont take time and problems in your time of death, no hastlle for those people you will leave behind.

    Lets be honest, people are cramming when the time of death of a relative came, problems on who will mange na burial, and the wake. right?

    SO in this plans the COMPANY WILL HANDLE IT ALL so the relatives will not cram in times of death.

    One of those giving this kind of PLANS is St.PETER

  6. Piaps says:

    Hi Pinoy, for me you get insurance when you don’t need it. Kasi no insurance company will give you life insurance coverage anymore if you’re too old and sickly na.

    and if nanghihinayang ka about the payments then better get a Variable life plan, at least kahit papano may investment return para sa future mo when you retire.

    Also, when getting insurance, find an agent that’s knowledgeable and honest, someone that will explain things carefully to you. Wag yung tipo na minamadali ka mag-decide kasi gusto agad maka-commission. ^_^

  7. Francisco de Vera Jr says:

    Life Insurance is “insurance” to replace the economic loss of value of a certain person.

    If you dont get sick or die—–> it becomes a savings plan where your premium payments earns dividends much higher than bank time deposit rates and wala pa with holding tax

    We DO NOT only live for today.

    Prepare for tomorrow

  8. kate16 says:

    Health insurance is very important nowadays, having one would give you something to cling to in times of sickness that’s why I trust Philippine Prudential Life.

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