Life Insurance 101

I used to work in the insurance industry many moons ago. I’ve worked for one of the oldest insurance companies in the country. I was also part of a a pioneering company in the pre-need industry dealing with pension plans, life plans, education plans etc. etc. You would think that coming from that industry, I would be a strong advocate of these products but up to this day I still don’t have an insurance plan or any other pre-need plan of my own. I even bought a few plans that I never finished paying because it simply didn’t fit the choreography of my schedules. I am not going to say that they are or are not important to those of us who have families whom we need to provide a secure financial future for. Whether or not we will get one we all need to know the importance of life insurance and how it will impact the future of our families. We all want to make sure that our loved ones will be secure once we go and this is what insurance plans or pre-need plans sell – the assurance that this personal concern will be addressed and taken care of when we are no longer able to do it ourselves. I have no problem with that actually. My only peeve about buying one is I don’t like overbearing insurance agents and the only time I gave in to getting one was because it was sold to me by a very very close friend whom I trust.

After reading this far, you’re probably thinking “So should I get one or not?” It’s like a chicken and egg thing, really. For us, health insurance is primary for now because that is the most expensive part of life, young or old. Hospital bills, medication, doctor’s fees, laboratory tests and what nots are what cause your life savings to dwindle to a few measly coins. If you can find a health plan that will cover all your major expenses, in case you get sick, then that would be a very good investment. Even if you save so much for your twilight years, the cost of getting sick is like a little matchstick that can burn your whole bank account to ashes. It’s a little bit morbid but getting sick and dying are two of the most lucrative businesses ever. There will always be sick people and everyone will eventually die. It IS a business. Like they say there are only two sure things, TAXES and DEATH.

Of course, there is also an insurance that provides you peace of mind no matter what sudden tragedy may happen to you. It is the insurance that assures you of a future that is unshakeable. 100% return on investment-guaranteed, full coverage against sickness, death, loss of property, theft, fire, flood, tsunami, earthquake and Acts of God. No expiration date, one-time payment. There is one thing though, it is non-transferable and good for one person at a time only. Here’s the best part though, it’s the best bargain of all time. You can have all those benefits for free if you follow the terms and conditions simply and clearly stipulated in John 3:16. No hidden agenda, no hidden fees, no need to worry about the fine print. And no pesky insurance agents hard selling on you. Think about it. In case you’ve seen it before but may have forgetten, here’s the stipulation again. Consider it, peeps. It’s the insurance bargain of a life time!

16“For God so loved the world that he gave his one and only Son,[a] that whoever believes in him shall not perish but have eternal life.

Have a wonderful weekend!

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4 Responses to “Life Insurance 101”

  1. [...] Read the original here: Life Insurance 101 | a matter of teys.t [...]

  2. I’ve seen that faith can be a great comfort to the bereaved, but surely that shouldn’t be all we can count on, especially when God is something we have no control over. If we have been paying into health insurance or life insurance, having been sold the assurance of a certain safety net, then we should be able to count on that – as that doesn’t seem to be the case then something needs to change here.


    Thank you for sharing your thoughts, Annabelt. Personally, I still do not rely on that “assurance” 100% because it is still subject to something that I might not be in control of by the time the “insurance” is needed. I have seen solid and stable companies run by reputable executives fold up and shut down with the policyholders left with nothing but worthless documents. This is quite true in the Philippines and our family has not been spared as well. After more than ten years of waiting for something that was fully paid years ago we still have yet to receive at least a fraction if not the full value of the investment made. The institutions we rely on today, might not be there anymore by the time the beneficiaries can claim the investment made on their behalf. Giant institutions on Wall Street that have fallen are the best examples out there.

    I am aware that health care is a sensitive topic in the US right now. In practice, there are basic differences on how health care is implemented here in the Philippines compared to the US. Nevertheless, we have a universal desire to make sure that our loved ones will be taken care of when the time comes.

    IMHO, whatever “assurance” we invest on is still quite temporary in nature because it is subject to men who make “good and bad” decisions about the money we give them. Nevertheless, it is still prudent and wise to anticipate the inevitable and investing in insurance is still one of the many tried and tested options one can take to protect one’s loved ones in case of unforeseen events. Thanks again!

  3. [...] original here:  Life Insurance 101 | a matter of teys.t Share and [...]

  4. Nitin Gupta says:

    I don’t know If I said it already but …Great site…keep up the good work. :) I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks, :)

    A definite great read..Nitin

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