Why most Filipinos are afraid of Life Insurance

[lestat1116]

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bali ang naa sa pinas 70/30 expenses/savings

[cherisama]

hahahah that's so true. I know people like that. Some of them don't even care much about providing food on the table for their family as long as nakapalit ug Tanduay or Redhorse, or in worst cases sugal ang pirmi atupagon. They gamble, they loose and they take out their anger on their family nga wala pa kakaon gani ug sakto. Wtf is wrong with this mentality? -.-

[SioDenz]

hahahah that's so true. I know people like that. Some of them don't even care much about providing food on the table for their family as long as nakapalit ug Tanduay or Redhorse, or in worst cases sugal ang pirmi atupagon. They gamble, they loose and they take out their anger on their family nga wala pa kakaon gani ug sakto. Wtf is wrong with this mentality? -.-

Its normal

[spellbinder]

basin guro ky mahalan sa monthly payments. but ako ganahan man ko, nagita pa gani ko ron hehe...

[cherisama]

Its normal

Yeah, but it's a rotten way to live.

Gusto ko mag life insurance. Basin nya matigbak ug kalit.

[Metz]

most are afraid of life insurance kay...

1. they dont understand the importance or if they need one(e.g. singles w/o dependents w/ life insurance, better invest it)
2. the proposals are wayyy too expensive. ang ending, grabe ka under insured. a lot of people I talked to are satisfied to have 250k or 500k life insurance. and the prescribed minimum coverage for a bread winner who earns 10k/month is 1M life insurance.

3. they think CAP is a life insurance company maski pre-need siya. totally different industries but....nadaot ang life insurance companies.

if walay kwarta, then don't get one. but pag naa nay extra, buy a pure life insurance program instead thinking about investing in stocks, mutual funds or time deposit. set your priorities.

daghan kaayo ganahan mag invest but wala juy insurance ga protect sa mabilin.
priority jud nang life insurance samtang wala pata'y mabilin sa dependents due to loss of life or capacity to work.

if you need life insurance, buy pure life insurance. if you want to invest, invest on something else, not life insurance packaged with investments.

click if you want to see the math

pure 20 year term life insurance nga 1M/2M(death by accident) for a 30 yr old is just around 10k per annum. barato ra kaayo.

[THE KID]

lami pa kaau cgeg laag og inom gud.....

[tripsiders]

I'll just add to Metz list
4. they don't have a reason to buy one.

I only found the importance of life insurance when I had my baby because I don't want to leave her broke if something happens to me. When I was single, I don't care much what will ever happen to me

[mckoy_slipstream]

bali ang naa sa pinas 70/30 expenses/savings

mostly, but some: 150% expense / virtual savings (naa ra sa utok or ga-plan pa to save)

why 150%? kay most filipinos know na naa paabot na pera, so what they do is spend money that they don't have, like getting a loan muna to buy something.

most people like my dad hates insurance for he feels that he is not in control of his money. so he decided to just invest in stocks in the 80's, in preparation of his retirement.

[Metz]

I'll just add to Metz list
4. they don't have a reason to buy one.

I only found the importance of life insurance when I had my baby because I don't want to leave her broke if something happens to me. When I was single, I don't care much what will ever happen to me

sakto.

if you're single, better invest on other liquid assets like stocks, mutual funds, healthcare investments, coop, even time deposit( :P ).

get a life insurance kung naa nay mosalo. kung naay mo offer nimo ug pure life insurance nga 20 yr term go get it.
but most of the time with investment jud na.

Cocolife ra ako nahibaw-an mo offer ug 20 yr term sa Pinas and thru their partner lang pajud. Regular brokers nila cant offer the 20 yr term.

if naay mo offer nimo ug life insurance ask for 10 or 15 year term. and whatever you save, invest invest invest. ikaw bahala unsay comfortable nimo.