Date Updated: 01 September 2020
Before joining the life insurance industry as Financial Advisor, I thought life insurance is useless. Back then, I believed that people can survive without getting it so why bother buying the same. It is likewise just a waste of money since people do not derive benefit from it. If this is how you perceive life insurance, then you are as ignorant as I was back then.
Fast forward today, I insured all of my immediate family members. I insured my mother, four (4) siblings including myself and their respective partners and their children. However, there is one person in our family that I failed to insure, my father, because he died before I became a Finance Professional.
How my father's death changed the course of our lives?
My father's untimely death happened so swiftly that it devastated our family for many years. It made our future uncertain as four of us siblings were still studying: three siblings were in private colleges and the bunso in high school. A lot of hardships occurred after my father's death, mainly involving financial difficulty, and of course, we missed the man of the house.
Thanks to my mother's dedication, she never gave up on life. She fought for our future. After years of being down in terms of our family finances, she finally made success when all of us finished our respective tertiary education and at the same time finishing our respective board examinations in our first attempt.
Importance of Life Insurance
After my father's death, all the income that he brings to the family finally stopped. Our family now became dependent upon our mother who physically and mentally exhausted herself just to provide for our needs.
That hardship that my mother went through, could have been minimized had there been life insurance under my father's name. The proceeds of the life insurance could have funded our education, allowances, rentals of boarding houses, utilities, and food. To tell you the truth, up until now, I really do not know how my mother pulled it off. How she managed to provide for all of our needs.
The truth about life insurance is that people only appreciate its importance once someone in the family had already died or someone in the family is currently suffering from critical illness. If any of those happened, they finally seek the services of Financial Advisors to finally get life insurance.
Do not ignore Life Insurance
You must appreciate the Financial Advisors that approach you with a life insurance policy because life insurance will be the source of income by the family that you will leave behind. You don't want to be remembered as someone who left the world with a lot of payables and a lot of unfinished responsibilities right? Your children are your legacy and they deserve to have a fund that will sustain them in case you are not physically present anymore.
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Disclaimer
The Author is advising readers to consult with your respective Financial Advisors before venturing in any investments. Investing your money is dependent to your goals and your risk tolerance. You should know the risks and rewards of investing before you actually do the same. The illustrations above are for educational purposes only and any risks or losses that you may incur are imputable to your respective decisions.
The author does not in any way provide a guaranty as to the effectiveness and quality of the products and services that are featured in this blog. The products and services were advertised based on personal experience and product and service reviews that the product/service received.
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