Life Insurance is a contract between an insured person and an insurer whereby the latter pledges to pay a sum of money to a specified beneficiary of the insured person in the event of his death, in exchange for the payment of premiums by the insured during his lifetime.
Apart from death, other events like accidents, diagnosis of critical illnesses, disabilities, hospitalizations and medical procedures may also trigger payment of money to an insured person.
Life Insurance is therefore a form of contingency fund for an insured person. It is a form of protection for him and/or his family against uncertainties brought about by adverse events that may occur to him.
Who needs to secure Life Insurance?
ALL OF US need the protection of a life insurance policy at some point in our lives. Why? Because we do not exist in this world in a vacuum. We all have loved ones. Our loved ones need to be protected from any possible adversity that may come their way as a result of untoward and untimely things that may happen to us. Securing a Policy ought to be done as soon as possible so that the insured can take advantage of lower premiums and greater chances of approval due to better insurability.
However, people who are heads of families, breadwinners, those with young kids, and those with relatives who depend on their financial assistance ARE IN IMMEDIATE NEED of securing a life insurance policy. Unpredictable unfortunate events may occur anytime and the risks to our loved ones are significantly lowered if a life insurance policy is available to them anytime.
The Benefits of Life Insurance
(1.) To the Family of the Insured
(2.) To The Insured (if the Cash Value is withdrawn)
Types of Life Insurance Plans
There are three types of life insurance plans:
(1.) Term Life Plans
(2.) Whole Life Plans
(3.) Endowment Plans
As you can see, Life Insurance is a type of contingency fund that acts as a protective buffer against danger that may befall a family at any given time.
All responsible family members ought to get life insurance so that there can be some peace of mind in the thought that loved ones' futures need not die with the one who brings in the income.
Edwin T. Bartolome
Financial Advisor and Certified Investment Solicitor
Code # 090848
CR # 02-2013-08539
For inquiries, assistance and free consultation on VUL Life Insurance and other Money Matters, you can reach him at:
and E-Mail: email@example.com
Baobab New Business Office
Sun Life Financial
6/F BTTC Centre,
288 Ortigas Avenue
Greenhills, San Juan City
Tel. No. 719-3958
Fax. No. 719-3894
"If there is anyone dependent on your income - parents, children, relatives - you need Life Insurance."
I want to make a difference. I want to Be A Sun Life Financial Advisor
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