The Truth About Insurance

June 30, 2017

Are you one of the people who still doesn't know the truth behind the common misconceptions about insurance? Let’s start to pop the bubble as early as now so you can go and protect what matters most to you:

WHAT THEY SAY: Life insurance is only for elders

THE TRUTH: Life insurance is for everyone. You can say that elder people need this kind of insurance more than those who are younger, but since no one knows when your time will come, it is best to be prepared than to be sorry.

Insurance is made for the sole purpose of protecting the financial future of the people you love the most. Meaning to say, getting an insurance is as simple as making sure that your family will not be financially unstable even when you pass.

WHAT THEY SAY: Insurance is expensive

THE TRUTH: Insurance is only expensive when you avail of it on your prime years. Insurance premiums are based (or the amount that you will pay periodically) on your age, so the younger you are, the cheaper your premium is.

Friendly tip: If you are on your 20’s or 30’s, it’s best that you get your insurance protection immediately! It will save you a lot of money if you start investing early and it will definitely secure your financial future.

WHAT THEY SAY: Insurance is not a necessity

THE TRUTH: You need insurance--especially life and health. While life insurance protects the financial future of your loved ones in the event you pass, health insurance protects your savings from being spent on expensive hospital bills through daily cash assistance when sudden hospitalization occurs. Some health insurance products focus on critical illness and/or cancer and we all know how rampant cancer is nowadays. This illness does not choose any lifestyle, age or social status so it’s best to be secured and prepared.

WHAT THEY SAY: Insurance is no better than investing for profit

THE TRUTH: Insurance is an act of investing not just for your future but also for the sole purpose of preparing for the uncertainties in life. In the same way, insurance is also considered an investment where you’re paying relatively lower premiums in exchange for a larger face amount upon death.

Life insurance protects the financial stability of your family at the time of demise; health insurance protects your savings by helping you cover the expenses of unexpected hospitalizations; and so on.

It is important that we fully understand where we invest our hard earned money in and there are a lot of ways to check the legitimacy of the company who’s offering us any insurance product. Whatever kind of insurance you decide to get, at the end of the day, know that insurance is not for yourself but for your loved ones, so protect them as early as now before it’s too late.

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