Why most Filipinos are afraid of Life Insurance

[kennan26]

---

sakto ka metz, if we have no insurance coverage yet, better invest in Term plans with maximum benefits and lower premiums..

[makie]

These are the reasons that I see:

*Most people simply don't understand what life insurance really is and for us, agents and financial advisors, it's going to be a very tough task trying to make people realize what life insurance really is. Most people think that it is an additional expense on their part.

*Filipinos have the habit of spending which, going deeper, can be traced to the mentality of instant gratification. Life insurance is something that can only be bought when it is not yet needed. If people generally have the mindset and attitude of instant gratification, why would they get something that they can't enjoy instantly? Unfortunately, people failed to realize the joy of having peace of mind brings once they get insured.

*Most Filipinos live on a margin which means, what they earn is just enough or sometimes even short for their needs. Life insurance is a need. If the breadwinner dies, who's going to support the whole family? Life insurance is no expensive. It only gets expensive if it is viewed as a whole. Saving P44 a day for a life insurance policy is no way expensive.

People's idea and view about life insurance reflects how poor the financial IQ of Filipinos is. Recent statistics show that around 4% of Filipinos have life insurance policies and the average coverage is only P400,000. How can a family survive for a mere P400,000 once the breadwinner dies or loses his income generating capacity either through a sickness or accident?

[jedophiledotph]

Based sa akong mga iyaan nga negative kaayo sa Life insurance. Ila permi ibasi sa nahitabo sa mga previous insurance companies before nga nangadown. Like CAP for example pero wa sila kahibaw PRE NEED ang cap. Mao nang epekto if mag sugod sa negative mu end up negative gihapon. Ok raman insurance basta sakto pagka plano. It's for the future, not our present.

[jackdi]

Based sa akong mga iyaan nga negative kaayo sa Life insurance. Ila permi ibasi sa nahitabo sa mga previous insurance companies before nga nangadown. Like CAP for example pero wa sila kahibaw PRE NEED ang cap. Mao nang epekto if mag sugod sa negative mu end up negative gihapon. Ok raman insurance basta sakto pagka plano. It's for the future, not our present.

Di ta ka-blame sa imong iyaan Boss, basin naay siya'y gikwaan og CAP thru her own singot nya na-TY. Kita karon, kahibaw jud ta nga lahi ang Pre-Need. Pero para nila, "once bitten, twice shun" na! ("shun" ako gigamit ha, dili "shy".)

Another reason i thing nga mopalayo ang mga tao aning insurance is ang mga ahente! Not all though. Sobra ka hard-selling usahay to the extent nga sa ilang intro pa lang daan, it would sound like an MLM recruitment for downlines na!

Nasayang nalang noon ang real thought sa " insurance ".


PS: Im still wondering nganong naa ni diri sa Careers section. ? ! ?

[high_heels]

you also cannot blame why most filipinos do not go for life insurance. I dont think it has something to do with not prioritizing things in life. Majority of the filipino workforce earns enough or even lesser than their needs. What more sparing a few thousands for a life insurance nga mismo ang bugas di pa gani ka kapalit.

If we were to profile the type of people who buys insurance, its usually those in the mid to upper class.

I've had staffs earning 20k or 30k a month, even at that right mag lisud ug igo sa kwarta.

[SioDenz]

Pila man jud diay nang life insurance para maklaru

[bleedingboi]

Check this page... although this doesn't include other insurance companies, but it does happen here in Cebu with PPLIC.

Philippine Prudential Life Scammers!!!: Explained | Pinoy Life At Large

[high_heels]

Check this page... although this doesn't include other insurance companies, but it does happen here in Cebu with PPLIC.

Philippine Prudential Life Scammers!!!: Explained | Pinoy Life At Large

bro, I think I know what you mean by this. I think this is the same company that has a stall in SM City Cebu (front watsons near sbarro and playhouse). I really don't like passing by that area. These annoying Sales Rep follows you like a leech! One time I played along asking them what its all about, they told me that they are just doing a survey and I will win prizes if I participate in the survey...next thing I know the agent jumped into asking me if I have a bank account or credit card...and since I dont use CC's I was asked for my bank account, and that I have to guarantee that I have at least an X amount in my savings to qualify. WTF?!?!?!? Schemers! I walked away and said it straight to their faces...."TRY TO FOOL SOMEBODY ELSE ASSHOLES!"

[musicalsuite]

you cant blame the people tungod mahadlok ma scam esp. sa pyramid scam. maskin ako, mahadlok ko mag invest

[forgetful_lucy]

ang approach pd sa mga insurance agents makes the insurance itself scary. tungod cguro sa sales quota. i just got insurance 2 yrs ago and i must admit hadlok ko sa mga insurance agents. hehehee.. no offense intended..