Philam Life Insurance | EfPrime Finance

Should I get life insurance in my 20s? | EfPrime Finance  If you have a family in your 20s, you might want to think about getting life insurance. Life insurance can be expensive because the longer you live, the more risk there is that the company will have to pay out money. If you are going to buy life insurance, it's always best that you do so before something happens.   So if anything were to happen and your children would need financial protection or care if they were left alone, it's better for them that they know their parents had a plan and bought life insurance for them in their 20s. It is never too early or too late to get life insurance as long as you're healthy and insurable. But it's better to get life insurance if you're going to stay healthy. Aside from accidental death benefits, it might be a good idea to get things like disability insurance, critical illness coverage, hospitalization coverage, and a health card. If you have a family and you need...

What is the best life insurance policy to have? | EfPrime Finance  The decision about what type of life insurance policy to buy is an important one. You should know the options out there and what your specific needs are to determine which type of policy is best for you. In this blog post we will go over the factors that contribute to buying a particular type of policy, as well as discuss some general advice on how to figure out if you need it or not. Factors to Consider There are many different types of life insurance policies available for purchase. A policy is simply a contract between a person and an insurance company which states that the company will pay out a specific sum of money to certain individuals upon the death of the person in question. As you might have guessed, life insurance costs money, but it is generally inexpensive enough that everyone should consider having some sort of policy. The cost is small when compared to what it could do for you (and your beneficiaries...

Is it worth paying for life insurance? EfPrime Finance  Before you decide that it's not worth it to buy life insurance, read this article. It will give you all the information and statistics that you’ll need to make a more informed decision. Life insurance is one of those things that’s either absolutely essential or completely unnecessary. Depending on your situation, one choice may be better than the other— but as a general rule, in most cases, it is worth paying for life insurance. Let us explain why...   1. Life insurance is a safety net.  Sometimes, things go wrong in life. Things that you can’t even consider or predict may happen. And if such events happen, and they will, you want to have some form of financial security ready for yourself and your family— just in case things cannot be fixed by simple luck or chance alone. This is why you should consider insuring your life— so that if something unfortunate does occur then your family won’t be left behind without any h...

Know these Five (5) Tips to Save on your Life Insurance Premium | EfPrime Finance    When you’re considering life insurance, there are a lot of different factors to consider. There is no one-size-fits all approach when it comes to this type of coverage, so in some cases you may need more than one type of policy. The key is to assess your particular situation and then take appropriate action. This article will go through 5 important tips on what you need to know about life insurance and how it can protect your family’s future.   1. Understand How Much Coverage You Will Need One of the first things you will need to do is to figure out how much coverage you will need for your situation. One way that can help you do this, is to consider how much it would cost for your family to be able to continue their same lifestyle if you were no longer around and they had no income. For example, this includes looking at things like mortgage or rent payments, what bills would need to be pa...

Should I Buy Term Insurance? | EfPrime Finance  We all know that insurance is usually a good idea, but what kind should you get? Term Insurance is a policy that pays out your beneficiaries (usually your family) if you die while the policy is still in effect. It does not pay out if you become disabled, and it only pays out for the duration of time specified in the terms of your plan. So should you get Term Insurance? You'll want to compare it with other types of policies to make sure it's right for your situation. In this post we'll go over some things to consider before making any decisions about which type of insurance will work best for your life situation and budget.   Types of Life insurances in the Philippines Term Life insurance A term policy is one that pays the face amount only in the event of death within a stated number of years.  Term insurance is designed for use in situations where a person needs maximum protection at the lowest premium outlay, particularly...

Is Life Insurance Necessary? | EfPrime Finance You will need to know the answer to these questions before you decide if life insurance suits your needs. Many factors go into the decision of whether or not you should get life insurance. In this post we'll cover some of the key reasons why you should consider buying it and some of the reasons why you may want to skip it.   Do I Need Life Insurance? T here are a wide variety of reasons why you may need life insurance. These include: To cover financial obligations such as paying off your mortgage, supporting your children's education, etc. or to create an estate for your beneficiaries in the event that you die prematurely or unexpectedly. To cover final expenses like a funeral, medical bills, and related expenses. Most people don’t want to leave this burden on their family after they pass away. So they can stay true to their commitments—to pay off a loan, support their family financially, or simply make the purchase of an expensive...