Why most Filipinos are afraid of Life Insurance

[soul_wave]

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Am planning to get an insurance this year..Manueline is my top of the list..ok ba Ana?

[r3cca]

I am also a financial adviser on one of the Insurance company here in the Philippines. My 2 cents for why Filipinos is afraid of Life Insurance is that:

1. Only few Filipinos are financial literate. Mostly they don't have any idea what is a Life Insurance is all about. For most of them it is just another source of expense. Financial advisers should educate as much Filipinos as they can it's not about selling the policy to your client but it's making your client more financial literate.

2. Fear of the unknown and previous experience. Due to previous incidents, where few Insurance companies goes bankrupt. Just a word of advise. Research the Insurance company that you want. Choose those who are already credible and have the assets.

PS: Life Insurance nowadays have a tie-up investment where you can enjoy a "living" benefits and not only a death benefits.

[AntitaniC]

sa amo experience, ang insurance maayo lang mangubra, pero kun ting hatag na sa insurance, pwrta kutiha, daghan kaayo pasikot sikot, maabtan ug siyam siyam nya kun maaprove naman gani, daghan kaayo deductions, mao gamay nalang kaayo ang makobra sa nahibilin nga benificiary, mao na hinungdan nga kasagaran dili na maminaw sa insurance agent... dili tingali tanan, pero kasagaran ing-ani, mao naka bad image sa insurance company.

i couldn't agree more..

[siopao1984]

ang ako i-invest sa life insurance mas dako pa ang tubo kung ako ni gi negosyo og computer parts... mas dako pa ako profit kesa cge ko hulog2x kada buwan gamay ra kaau ang interest.

[kageron]

sure life insurance.........pagsure oi lol

[r3cca]

Life insurance is not for everybody..

- Some needs it.. some don't
If you're young and bread winner of the family you probably need it compare to those who are already old with no dependents. Or you are already rich enough and can afford your own burial. But then again if you are really ah rich thinking individual you'll still get one to protect your assets and prepare for the 20% tax that the government will get from all of your assets when something happens.

- Few knows about it.. Most don't
Let's accept the fact that only few Filipinos are financially literate.. and we need to change that.. that is why only those financial literate knows the true value of insurance policies.. Mostly, the assumptions are it's another expense for them because they still don't see the need for it at the moment.. but when the time comes it will be too late already..

- Some wants it.. But some doesn't fit..
Most of us would want to increase our life style.. (who doesn't right? except those who are already contented) Yes we want improved our lifestyle but the thing is.. we just "want" we don't do anything about it. it's just easy to say, yes i want an insurance for my self but you are not discipline to allot a portion of your income for the said insurance and just make your self believe that you can't afford it (but when tagay session arise or new gadgets it seems like money grows from trees ^^)

Therefore financial advisers and clients should communicate with each other to assess if the client is really fit to have an insurance and not just offer them the product that could give you the highest commission when in fact that product is not fit for your client..

[dongzkie]

sakto jud ka bossing

sa amo experience, ang insurance maayo lang mangubra, pero kun ting hatag na sa insurance, pwrta kutiha, daghan kaayo pasikot sikot, maabtan ug siyam siyam nya kun maaprove naman gani, daghan kaayo deductions, mao gamay nalang kaayo ang makobra sa nahibilin nga benificiary, mao na hinungdan nga kasagaran dili na maminaw sa insurance agent... dili tingali tanan, pero kasagaran ing-ani, mao naka bad image sa insurance company.

[Starr77]

Life insurance is not for everybody..

- Some needs it.. some don't
If you're young and bread winner of the family you probably need it compare to those who are already old with no dependents. Or you are already rich enough and can afford your own burial. But then again if you are really ah rich thinking individual you'll still get one to protect your assets and prepare for the 20% tax that the government will get from all of your assets when something happens.

- Few knows about it.. Most don't
Let's accept the fact that only few Filipinos are financially literate.. and we need to change that.. that is why only those financial literate knows the true value of insurance policies.. Mostly, the assumptions are it's another expense for them because they still don't see the need for it at the moment.. but when the time comes it will be too late already..

- Some wants it.. But some doesn't fit..
Most of us would want to increase our life style.. (who doesn't right? except those who are already contented) Yes we want improved our lifestyle but the thing is.. we just "want" we don't do anything about it. it's just easy to say, yes i want an insurance for my self but you are not discipline to allot a portion of your income for the said insurance and just make your self believe that you can't afford it (but when tagay session arise or new gadgets it seems like money grows from trees ^^)

Therefore financial advisers and clients should communicate with each other to assess if the client is really fit to have an insurance and not just offer them the product that could give you the highest commission when in fact that product is not fit for your client..

agree ko ani

[I_dontknow]

okay kaau ang life insurance oi, i know someone who offered me a life insurance, ang ako lang, ayaw tawn pamaligya during night time, . if buntag to ge offer sa ako, most likely na swipe na akong credit card.

[r3cca]

okay kaau ang life insurance oi, i know someone who offered me a life insurance, ang ako lang, ayaw tawn pamaligya during night time, . if buntag to ge offer sa ako, most likely na swipe na akong credit card.

hehe available ka tomorrow morning sir? ^_^