TO LEAVE AND TO LIVE LIFE: THE ADVANTAGES OF LIFE INSURANCE

Philippine life insurance for some may appear like a very taboo subject for conversation. The way it is often associated to death, disability, loss of a love one, and grieving make it more awkward to just discuss casually. But if we really think about it, this is a subject that at a certain point in our life should really need to talk about as we can never really predict when we will leave the world of the living. And if we will look at it on a different perspective, you will discover that life insurance can be advantageous for you and your family.

According to the World Health Organization, the death rate in the Philippines per 1000 population is 4.92 deaths. Even though the population in 2015 has reached 100,699,000, this date rate can still be alarming given that the current life expectancy for male is 65 while it is 72 for females. The leading cause of mortality in the Philippines is cause by nutritional condition which is assimilated or genetic. It is at par with the percentage cardiovascular disease (CVD) which is also at 30%. Eight percent is related to injuries. While the remaining 32% is comprised by non-communicable diseases (NDC) in which 10% is cancer, 5% is respiratory related, and 4% is due to diabetes. The remaining 13% is comprised of other NCDs.

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Putting into consideration that the retirement age in the Philippines is 60, we can conclude that there are only few more years for a person to enjoy the gift of life. While it is true that no one can ever predict when death will come knocking or our door, looking at these data is enough to make anyone conscious about their odds on surviving till retirement. But this has been one of the selling points of life insurances—security. While it is true that it cannot protect you from the inevitable, it provides you and your family a sense of security. It protects one’s family financially by providing a guaranteed sum of money in case of untimely death to replace the lost income for the benefit of the family. Through the help of life insurance, one will able to regularly set aside an amount of money which accumulates through the years to build up a fund guaranteed to be completed whether the insured lives or dies. Life insurance creates a reliable source of fund comes retirement age.

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The unpredictability of life can be scary at times. No one can really tell the odds or predict where life will take us. One day, you might be having the best day of your life, feeling the world beating with your own heart. The next day you might be feeling the lowest of low. But that same unpredictability of life makes it worth living. Don’t let your fear of the unknown hinders you to feel those wonderful moments. Take advantage of the security that life insurance can provide you. As Maxwell Maltz once said, “Man maintains his balance, poise, and sense of security only as he is moving forward.”