Insurance plan is one of the most important things that you should have right now especially during this time of uncertainty. If you have multiple insurance plans, the better. It just means that you really care about the security of your future and your family.
But I also know some that’s on the verge to discontinue paying their plan or have actually stopped paying for it. 🙁
Here’s a FACT.
Not all people are insurable. It’s actually a blessing that you were able to apply for an insurance plan and got approved. I’ve known former clients who were very eager to apply for one but was declined because of health issue.
I feel sorry for them because it was already too late when they realized the importance of having the plan.
So remember, before deciding to discontinue your payments with your insurance plan, you are actually blessed with good health and life to be approved and be secured from uncertainty.
Make sure to keep your plan updated.
If you decide to discontinue paying your insurance plan,
did you know that you are making yourself more prone to life’s risks?
This is not to scare you, my friend.
It’s also a fact that the risk of dying or getting sick will always be there. We just don’t know when it’ll happen. And when it happens, how ready are you financially? How ready is your family financially? How will your kids be able to continue their studies if this happens?
If you get critical illness today and you need to Php2Million to get well, how on Earth would you be able to get that amount in an instant?
Would you let yourself ask for a donation, or help from friends and relatives? When in fact, you could actually let someone pay for it if you have a health insurance plan.
We get insurance plan to protect us from life’s risks, to protect your family from financial burden, and to assure your kids of still having a good education despite of uncertainty.
Insurance plan is your peace of mind, and will always be. So don’t make it lapse.
Because the next time you apply for an insurance plan,
It’s either too late for you, or it’s already pricey because of your current age, health status, or situation.
Remember that when you buy an insurance plan, you buy it with your current age and health. That’s why taking advantage of them as early as today is very important here.
Insurance plan may not be our priority today, but when the need or emergency comes, this is actually the first thing that we’ll look for.
Would you let yourself uninsured during this time of emergency?
Here’s a thing. When you have an insurance plan,
You are leaving a long lasting legacy to your next generation.
If you have already watched Itaewon Class from Netflix (spoiler alert!), a Korean drama series that took financial literacy into the next level, you will understand this legacy.
P.S. It’s actually a must watch Kdrama series.
Sharing you a glimpse of the series…
The father of Park Saeroyi (leading character) got into a hit and run accident, and died. Saeroyi was left all alone.
Fortunately, when he got the money from his father’s insurance, he invested it in a well-known company (a blue-chip company) in South Korea. 8 years later, it made him a significant shareholder of the company.
What Saeroyi did with the insurance money played a big role in making his “revenge plan” successful. He was able to buy a building for his business which later on became the no.1 pub company in South Korea.
See how your insurance plan can change someone’s life?
It’s a legacy that you can leave to your family. You may not be able to use it, but at least your family/children can do something good about it for their future.
I hope this post convinced you to make your insurance plan updated as much as possible. Talk to your Financial Advisor today for a review! 🙂
Christine Caranyagan is a Certified Investment Solicitor (CIS), Associate Wealth Planner (AWP), Estate Planner (AEPP), and Agency Leader of the Philippines (AALP). She’s a 2019-2020 Macaulay Club Awardee, and a 5x Medallion Qualifier as a Licensed Financial Advisor.
Her mission is to help fellow Filipino people achieve lifetime financial security & healthier lives.
If you want to learn more about financial planning, you can contact her thru her personal contact number 0935 7368 619, or send her a message here.