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 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...

Cheapest Life Insurance In the Philippines Explained: Philam Life Guardian | EfPrime Financials  Date Updated: 16 August 2020   In this blog, I will discuss Philam Life's cheapest life insurance called Guardian. Guardian is term insurance.  Term insurance is a type of  life insurance  po licy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy are active, or in force, a  death benefit  will be paid. 1/  Related: What you need to know about life insurance?   A simple tip, there is no such thing as one size fits all in terms of life insurance. Every person has different protection needs depending on whether you are single, married, or married with kids and of course, depending as to how many people depend on your income.   Summary Here are the things that will be discussed:  Pros and Cons  Amount of Premiums...