5 Situations You Think You Don't Need Life Insurance (But Actually Do)

Life is mostly a series of seemingly ordinary choices. Although they seem mundane, they can actually determine the quality of life you live. One of the best choices a person can make for themselves is to get life insurance, even if at first glance, you think you don't need it.

Jess is young, fit, and loves to live an active lifestyle. She regularly goes to the gym and buys her food at an organic grocery store. But, she gets into an accident while training and needs time off from work to recuperate.

Being young and healthy does not make a person immune to accidents or illnesses. Having life insurance means that you get assistance with the medical bills you can incur and even be eligible to receive a cash reimbursement for the days you spend in the hospital.

It may seem counterintuitive to get insurance when there are no indications of illnesses or injuries, but that is actually the best time to avail of it. Getting insurance while you are young and healthy allows you to take advantage of the most ideal premiums.

Jose has worked for the same company for over 10 years. He enjoys great benefits, including an HMO plan. However, he just received notice that the company will soon be closing.

A work-provided HMO plan should be treated as syrup on a sundae. It's something sweet to top off the main event. Insurance from the workplace rarely meets the specific needs of a person, since these usually cover just the basics. Individuals, especially those with families, usually need something more comprehensive.

Another reason why getting insured from a plan other than the one from work is that sooner or later, work ends. You can retire, resign, or the company can even shut its doors. Having your own insurance will guarantee that you have one less thing to worry about if you find yourself having to leave the company.

Sandy and Paolo have three kids. With the kids grown and married, they are looking forward to spend some more time together. But, they need to continue earning for their living and medical expenses.

It is rare for someone to comfortably live on pension alone. This is why it is important to prepare for retirement. There are some insurance policies that are tied with investment funds, to allow people to sufficiently prepare for the future so they can have additional funds when they retire.

When people grow older and they are more prone to medical issues, that is when the benefits of insurance truly stand out. A comprehensive insurance policy can help pay for medical bills, including treatment and care for critical or terminal illnesses.

Mimi is an account executive at a fairly large agency. It's her first job and she's growing her savings. Her only concern is that she wants to attend a friend's wedding in the US. Is her savings enough to convince the embassy to grant her a visa?

Aside from giving people peace of mind, insurance is an active and concrete step to take toward financial freedom. Having money in the bank is good, but investing is better. This is because investments tend to grow over time so you end up with more than what you started with. Also, having assets other than cash is an advantage when your financial reputation is looked at, such as during visa or loan applications.

Insurance is an easy way to for someone to start investing. Unlike other types of investments, such as stocks or bonds, it can be more manageable. Depending on the plan you take, it can be quite affordable. Developing a portfolio allows the person to lay the groundwork toward dream fulfilment through wise money management.

Ben and Leonora have a thriving business and are debt-free. They are enjoying retirement by traveling and indulging in so some luxuries. They were wise with their money and are now thinking of passing on the fruits of their work to their kids.

Love is taking care of people whether or not you're with them. There are different types of insurance that take care of those left behind. The one that people usually think off is to ensure that the loss of income is compensated so that the standard of living does not change. There are also policies that cover the estate taxes, which can be quite costly.

No one is too well-off, too healthy, or too young for insurance. It protects you and your family against life's uncertainties. It also helps manage wealth. Find out what it means to live life worry-free by checking out the life insurance products offered by BPI AIA and what benefits they can provide. Visit a BPI branch near you and talk to a Bancassurance Sales Executive.