5 Things You Should Know Before Buying Life Insurance

Whether you’re a young professional or an established executive planning for retirement, there’s an insurance policy that’s perfect for you. Identify your insurance needs based on your current financial status, as well as goals for yourself and your family.

You can evaluate your insurance needs depending on where you are in your life's key moments:

• Building Your Wealth. This is ideal for young professionals who want to jumpstart their success and manage their finances early in life. Where you will be in the future depends on how well you invest your time.
  
  
• Getting Married. Marriage is one of life’s biggest milestones, and it’s important to be on the right foot when starting a life together. Insuring you and your future spouse’s financial future is one of the crucial steps to a successful marriage.
  
  
• Becoming a Parent. As a new parent, you want to make sure that your child will have a bright and secure future. An insurance policy can help you protect your child so that no matter what happens, their future is secure.
  
  
• Working Abroad. Being an OFW is a big sacrifice. You’re living and working in a foreign land, away from your family and friends. The right insurance plan can help you build your dreams and prepare you for an early homecoming. Don’t let your hard-earned money go to waste, and make a smart investment.
  
  
• Planning for Retirement. The right insurance plan can help you ensure a happy and comfortable retirement.
  
  
• Running a Business. Having a business is what a lot of Filipinos want. Protect your business and secure the future of your company and its employees. Make sure you take care of your most important asset.

There are different kinds of life insurance policies such as term insurance, whole life insurance, and variable universal life insurance. Each one offers protection, but has its own unique advantages and features too.

Term life insurance has a specific end-date, whether it’s one year, five years, 10 years, 20 years, or 30 years. Whole life insurance is valid for the rest of your life, so your dependents are guaranteed a payout no matter the age of your death. Meanwhile,variable universal life insurance invests a part of your policy in a variety of investment vehicles such as stocks and bonds. However, you’re not guaranteed a fixed interest rate.

Life insurance protects your finances and takes care of your loved ones’ future. But, there are assets beyond risk protection that offers other financial benefits such as cash payouts when you get into an accident or acquire a critical illness.

The BPI AIA Wellness Series, for instance, is a range of insurance products powered by AIA Vitality – a program that encourages one to lead a healthy lifestyle and rewards you for it.

With the BPI AIA Wellness Series, you’re not just investing in your wealth, but also your health. You can get benefits such as additional insurance coverage and premium discounts and incentives from partner establishments. 

What happens to your dependents when you’re not around to take care of them any longer? A life insurance policy will leave you free from worry knowing that in the case of a debilitating accident or death, your loved ones have something to rely on. Your dependents will have funds they can use to get back on their feet should you be unable to provide for them any longer.

Getting a life insurance is now made easier and accessible. You can conveniently buy a life insurance plan from over 800 BPI branches nationwide. Just go to the branch nearest you and talk to a Bancassurance Sales Executive from BPI AIA.

BPI AIA is backed by two of the strongest and most reputable financial institutions in the country, BPI and AIA Philippines, so you no longer need to worry about the credibility of the Bancassurance representative agent you’re talking to.

With life insurance, there’s no one-size-fits-all policy. You need to take your individual circumstances and needs into consideration. Give yourself time to learn the insurance policies and programs available to you, and choose the one that best fits your goals.

Talk to any of our friendly Bancassurance Sales Executive to discuss your financial needs today.