Benefits of having an Insurance Policy here in the Philippines 2024
As of today, there still a huge population of Filipino people don’t have insurance. Insurance should be a must for every Filipino people today, because it will provide many benefits such to financial aspect.
For me, one of the many reasons why many Filipinos still don’t have insurance policy, because information about it is not yet properly explained and discussed by their financial advisor.
I bet that if you own a house and car and other property, you are probably have insured it, but you don’t insure yourself? Just imagine if something happens to us, an insurance policy will be your savior, especially on the bill side of it.
What is an insurance or Insurance policy?
Insurance is a contract between an individual and an insurance company, in which the individual pays regular premiums to the insurance company in exchange for financial protection against specified risks. There are various types of insurance policies, including life insurance, health insurance, auto insurance, and homeowners insurance, to name a few.
It means that if something happen to you, it is one the insurance policy then the insurance company will pay you or your beneficiaries with a certain amount.
Having an insurance policy provides a number of benefits, including:
Financial security: The main purpose of insurance is to provide financial security in the event of an unexpected loss or damage. With insurance in place, an individual is protected against financial losses resulting from unexpected events such as accidents, illnesses, and natural disasters.
Peace of mind: Knowing that you and your loved ones are protected against financial loss can provide a great sense of peace of mind. You can feel more secure and confident in your daily life knowing that you have the protection of an insurance policy.
Coverage for large expenses: Insurance policies can provide coverage for large expenses, such as medical bills, car repairs, or home repairs, which can be difficult to cover without insurance.
Estate planning: Life insurance can be a valuable tool for estate planning. By purchasing a life insurance policy, an individual can ensure that their loved ones are financially secure in the event of their death.
Compliance with laws and regulations: Some insurance policies, such as auto insurance and workers’ compensation insurance, are required by law. Having these policies in place can help individuals comply with laws and regulations, avoiding potential legal and financial problems.
My Final Thoughts
Overall, insurance policies provide important financial protection and peace of mind. By choosing the right policy and paying regular premiums, individuals can secure their financial future and ensure that they and their loved ones are protected against unexpected losses.
Other Information:
If you’re looking for financial advisor that will explain further about insurance, just give me call!
I’m an Aspiring Financial Advisor of PRU LIFE UK
Mobile/Viber/Telegram : +639666490919
Email: venericflores@gmail.com
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