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...

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...

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...

Invest as low as P2500 in a single month to get P870,000.00 life insurance coverage until age 100 and earn up to P3,846,121.00 (an estimate) at your retirement.   This investment is a VUL life insurance called Family Provider of Philam Life. It has investment at the same time a life insurance coverage for your family's peace of mind.   You can opt to add the following coverages to make your policy more comprehensive: 1.       Accident Insurance Coverage; 2.       Critical Illness Coverage; 3.       Hospital Income Benefit; 4.       Waiver of Premium; and 5.       Philam vitality to get P800.00/month.   The earlier you start, the cheaper is the cost of insurance and the higher is your withdrawable investments.   BENEFITS OF THIS POLICY: 1.       Fixe...