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...

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...

Six Uses of Life Insurance in the Philippines | EfPrime Finance    One. Keyman insurance. It is a type of insurance that provides a firm with financial protection against the loss of earnings due to the death or disability of a key employee. It also secures the services of a person who takes the place of a key person. It increases the probability of success of the business to survive in a long period of time.   Two. Life insurance may also be pledged as collateral. Life insurance policies can also be pledged as a collateral.   Three. Business continuation. A partnership or a closed corporation is a type of business that has certain problems that are important to the surviving owners and employees. Upon the death of a general partner, the business is dissolved. Its surviving partners are responsible for the day-to-day running of the company. A buy-and-sell agreement is an arrangement that enables surviving partners to liquidate their businesses w...

Life Insurance: 10 Things Your Agent Won’t Tell You: A blog about life insurance  Life insurance is a personal decision. You can't be forced to take it out by a company or anyone else. It is something you have to make up your own mind about and weigh all the pros and cons, but that doesn't mean there isn't some basic knowledge every individual should know before they get started.   Here are 10 things your life insurance agent won’t tell you:   1) Not everyone needs life insurance. For many people, it may not be necessary, as you can rely on other forms of savings in case of unforeseen circumstances like illness or death. 2) Life insurance isn’t for everyone. Health conditions, past medical history and other factors may make someone uninsurable. 3) Your life insurance must be paid and up to date when the unforeseeable event happens. Otherwise, your beneficiary receives nothing from the policy's death benefit. The lesson there is to not lapse your respective...

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 c...

  Philam Life's Moneyworks - Long Term | EfPrime Financials  Date Updated: 23 August 2020  Summary Here are the things that will be discussed:  Pros and Cons  Life Insurance Coverage Comprehensive Accident Coverage  Investment for Retirement  Critical Illness Coverage Health Fund for your Future Health Care needs  Waiver of Premium  Hospitalization Coverage Philam Vitality  Is this policy for me?  How to buy this insurance?  Click here Conclusion  Pros and Cons  Pros 10 year pay or more  High earning potential You are insured up to age 100 as long as you have investment balance Maximized the use of your hard-earned incom   Low cost of insurance  Comes with PhP200.00/week or P10,400.00 per year plus coverage boost You have withdrawable investment that can be your health fund or retirement fund Cons Lower coverages or protection compared to other Philam Life insurances   Life insurance Coverage...