18/02/2021
A young client asked me while I am reviewing his VUL policy.
"Hindi po ba kayo nalulugi since eto lang po yung hinulog ko and if in case magkasakit ako, millions yung matatangap ko? (He was referring to Critical Illness Benefit) Tapos aside from that may iba pa po may investment portion pa and other health benefits? "
I remember not answering his question directly, it's too complicated to discuss the business model of life insurance companies, but I tried in a layman's explanation 🤣.
Moving forward, According to Dr. Sanjay Tolani, There are 4 reasons why we should avail a life insurance product,
You die, I pay
You fall sick, I pay
You retire, I pay
Your kids go to college, I pay
Life insurance is the only product in the market that doesn't pass through the mutual value creation model because it exceedingly provides more than what the client pay.
I hope that most Filipinos would became aware of its significance and value.
My goal- Educating/encouraging one person at a time towards money and risk management.
Let's have a quick chat!🤗