I hope you would read it also. My story is connected to my Dad’s story. In this story, I like to share what I have done to address my personal and family’s economic predicament in order for us to #LiveBetter.
In 2006, me and my best friend were offered insurance. We basically have the same product but I can only afford to pay a small premium. My best friend, who is an engineer, had a higher coverage because he can afford to pay a higher premium.
My annual basic salary back then is just P120,000. Since I’m the breadwinner, I can only afford P6,682.50 annual premium. I personally didn’t want to go monthly since it will be more expensive and because every centavo I earn counts.
At that time, my coverage is just P250,000. It was a pretty big deal of amount already for me considering that my annual salary is just P120,000 then. It is an amount that I know my family never had. And in the event that something happens to me and my aging parents outlive me and I’m taken out of the picture, I was assured that my parents will still be able to eat and able to find a source of income for at least two years. So I’m happy!
I’m done paying with that insurance plan and now I’m on my second insurance policy. Why did I applied for another? Because the amount I’m earning now have surpassed the amount of my initial life insurance coverage. It means that the proceeds of my first insurance will no longer be sufficient for one year for my beneficiaries. Kulang na kulang!
I think, gaya ko, di naman nakapako ang suweldo mo sa same amount 10 years later, di ba? Malamang may increase ka rin, bonus at 13th month pay. Kung mapalad ka, baka may 14th month pay ka pa. Ako kasi wala. Hehe.
So kung tulad kita na may insurance na, dapat mong tignan o ipa-evaluate sa isang licensed financial advisor kung sapat pa ba ang coverage mo. Baka kulangin ang mauulila mo kung mawala ka. At kung hindi sila disiplinado at financially literate na gaya mo, baka ilang araw lang ay ubos na ang proceeds ng insurance mo.
Kaya payong kaibigan lang, kapag may nag-alok sayo ng financial services, huwag ka munang tumanggi. Hindi lahat ng ahente ay komisyon lang ang habol. May tunay na malasakit din ang ilan.
At that time, my coverage is just P250,000. It was a pretty big deal of amount already for me considering that my annual salary is just P120,000 then. It is an amount that I know my family never had. And in the event that something happens to me and my aging parents outlive me and I’m taken out of the picture, I was assured that my parents will still be able to eat and able to find a source of income for at least two years. So I’m happy!
I’m done paying with that insurance plan and now I’m on my second insurance policy. Why did I applied for another? Because the amount I’m earning now have surpassed the amount of my initial life insurance coverage. It means that the proceeds of my first insurance will no longer be sufficient for one year for my beneficiaries. Kulang na kulang!
I think, gaya ko, di naman nakapako ang suweldo mo sa same amount 10 years later, di ba? Malamang may increase ka rin, bonus at 13th month pay. Kung mapalad ka, baka may 14th month pay ka pa. Ako kasi wala. Hehe.
So kung tulad kita na may insurance na, dapat mong tignan o ipa-evaluate sa isang licensed financial advisor kung sapat pa ba ang coverage mo. Baka kulangin ang mauulila mo kung mawala ka. At kung hindi sila disiplinado at financially literate na gaya mo, baka ilang araw lang ay ubos na ang proceeds ng insurance mo.
Kaya payong kaibigan lang, kapag may nag-alok sayo ng financial services, huwag ka munang tumanggi. Hindi lahat ng ahente ay komisyon lang ang habol. May tunay na malasakit din ang ilan.
