Several years ago, a friend’s mom asked me to meet her for coffee. Since we haven’t seen each other for quite some time, we started our “date” by updating each other with our families’ activities. Tita Baby (not her real name) has just recently accepted an early retirement offer. She shared how she got bored at home and eventually found the courage to start a new endeavor. After a few minutes, what I thought was a casual meet-up turned out to be the first-ever life insurance sales call I encountered!
Because Tita Baby knew when my birthday was, she spoke to me about health benefits and investment. I got confused. I knew there were different types of insurance (car, property, life), but I didn’t know that there were different types of LIFE insurance. Good thing she was patient enough to explain all I need to know. Just like having different sets of friends for certain activities, the type of life insurance product varies depending on the financial need and requirement that has to be fulfilled.
In the simplest of ways, life insurance is for:
As they say, there’s always a first time, and I chose that meet up with Tita Baby as my first time to buy a life insurance policy. I chose a risk protection plan with some health benefits specific to women. Later on, I availed another policy as investment to fulfill my future goals.
So in deciding the right type of insurance plan for you, it’s important to identify the purpose you want to address, then study all your options. Take into account which one will pave the way for a better life for you and your family. So choose wisely!
(Originally written by Marla C. Rama at http://www.savingstips.com.ph)
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