Getting Life Insurance – Is it a Yes or No?

Many of us, including me, don’t really know how important insurance is. Some think its additional expenses or liabilities or don’t have budget for this because this is not their priority. Until we realize that we’re not getting younger anymore and we watched people around us like, friend, relatives and neighbors, passing away. Let me share you my story on how I realize that insurance in very valuable especially if you want to protect the future of your loved ones.

In my younger age, I have so many dreams in life. And in getting my dreams one by one, I set goals. I can say that I am living my life to the fullest in the age of 20’s. I worked abroad and don’t have other responsibility but myself. Bar hoping, house party, drinking, smoking, shopping, travelling, buying stuffs that I don’t need, and not saving money. I do all the things that I want to do, go anywhere I want to go with my friends. Literally, happy-go-lucky.

Fortunately, a friend of mine is working in an insurance company and one day told me to get a life insurance plus investment plan. I ignored and said that I don’t need life insurance where my beneficiary can get a sum of money after my death and I am sure, they will be happy for that but I don’t feel anything because I am dead and won’t enjoy that money anymore. Getting one is never been in my plan. As in, no interest on it at all. I need money and I am living my life now so why do I have to spend my money in such waste. Thinking of a brat and selfish human being.

Time goes by and I got married and settled here in Philippines. Everything was changed the time I knew that I was pregnant, mother instinct born in me. No more happy go lucky, no more night-life, no more self-shopping, no more buying stuffs I don’t really need and also, I stop working. In short, my life really flips up-side-down. I worked after I gave birth and learned to save money this time. My husband is hardworking, a good provider but that is his own hard earned money.

One day, a workmate started a topic about getting and having a life insurance which is really good for our love ones. She said so many things, good things actually, about the life insurance. But this time, so many expenses every day, monthly dues, utility bills and needs to buy for a baby. I said no, because I have to settle other things rather paying for a life insurance. It is not in our budget or we can say, we don’t have a budget for this additional expenses.

After a year of working, I decided to stop working so I can focus in my child. I stop working because my child is growing each day without me on her side. 10-11 hours of my life everyday spent at work. So I became a stayed-at-home mom and an entrepreneur-mom.  I learned to sell stuffs and run a small printing business. Our financial status sometimes okay, sometimes are not. Struggle is real! And it is really difficult to save money. Work plus small business is not enough to save money for the future of our children.  Last year, another opportunity came. My classmate in college popped-up in my messenger. She asked me if I already have an insurance plan. Of course still none. Then, she told me if I need a Financial Advisor in regards to Sun life products, don’t hesitate to chat her. I’m thinking that time, that I can still have more time to save money for them so why will I.

My husband had a motorcycle accident before and luckily, just a small bone fracture only. At least he is still alive, in my thoughts. Recently, I realized that we can’t really save money for the future of our children. So many uncertainties happened and can still be happen in future. This Life Insurance + Investment came up in my mind. I made my research about it. While I’m doing that, I’m still not decided. In my life, I visited many burials of friend, relative and family. Some of them had life insurance and lot of them who passed away doesn’t have any.

I get curious about insurance and investment, so I chat my classmate from college and set an appointment with her. She opened my mind about getting life insurance that in case whatever happens in future, my family/children will get benefits from my death. This time, I am very okay with this. Because I know that even though we do not have a large amount of money saved for them, at least, they will still get something from me when something happened in future. It’s like an inheritance for them even though we’re not rich.

I learned that life insurance is not a waste of money. I love my family and I want them to live their life without worrying in their future if something happened to me. Plus the investment-linked on it where I am still saving money and will get a good interest from it unlike saving money in the bank. Now, I am fully equipped and knowledgeable about the importance and benefit of having a life insurance-plus-investment plan. It is very important not only for the parents but also for the individuals who wanted to save for their futures. It’s time for you to decide. If you can buy a sale items in the mall, why not spending it in your life insurance. Or if you have extra money to save, why not putting them in an investment. It is really better to know how your money will works for you, not you will work for money.

If you love your family, protect them, their future. “

By: Jhen Belandres

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