Put yourself at ease by protecting those you love
04 December 2017
Bucket lists are all the rage these days. People make their own lists, focusing on things they want to do in terms of travel, family life, and career. With 2018 just around the corner, people are even more inclined to think of their goals—mostly they include places they want to go to and things they want to achieve before they reach a certain age.
If we can have bucket lists for those areas in our lives, it makes sense to also build one when it comes to our finances. After all, making sure we have resources to use in the future will also help us tick off the items on our life's bucket list.
For those who are starting on their careers and those who have begun establishing themselves, there is no better time than now to start thinking about how to build your wealth so that you can enjoy it in the future. Here are some practical tips to consider.
There are more than enough horror stories about young professionals being drawn into the excessive use, and sometimes abuse of credit cards. What follows them is the problem of dealing with their debt, which can considerably eat into one's earnings.
Credit in itself can help a person manage his or her finances, if used properly. An understanding of how it works and how it can work for your financial situation is a crucial step. However, if one does not see how it can help them or if one does not see the need for it, it is best to forego it altogether.
The best way to prepare for any eventuality is to set aside something every payday, preferably a set amount, to an emergency fund. To make sure you keep your hands off and not be tempted to access it, try setting up a traditional passbook account. The fact that you need to go to the bank in order to withdraw may be disincentive enough for you.
At some point, when your emergency fund reaches an amount big enough, you can also opt to use it for a long-term wealth building strategy, such as getting an insurance and investment plan in one, such as those of BPI AIA.
If you are lucky enough to be one of those young professionals who belong to the Millennial generation, you will surely have more than enough opportunities to earn. Freelancers, for example, do not rely on just one but several sources of income. Or you may simply be passionate enough to pursue something that it's worth doing beyond your day job.
Whichever the case may be, diversifying your earnings means having better chances of saving for your future and even for things you would like to do eventually.
Nowadays, insurance is not just about protecting oneself and one's family from life's uncertainties. Life insurance in the Philippines have diversified as well. They provide not only protection, but also getting the most out of your hard-earned money.
BPI AIA, for example, offers flexible plans that combine accident and life coverage with investment options. These plans not only provide rewards that you reap in the long run, but also those that you can enjoy as early as your first year of coverage.
Through BPI AIA's health and wellness programs, you can get rewards as you take steps in knowing and improving your health. For example, taking regular medical assessments as recommended by the program not only keeps your health statistics in check, but also means a corresponding number of points that you can earn to get rewards.
You can also join organized fitness events with partner establishments or achieving goals set by the program. As you take these steps toward health and wellness, your status in the program increases. A higher Vitality membership status corresponds to additional coverage, to as much as 50%.
Too much of something is always not good, so while you have your bucket list to fulfill, you cannot forget to take a break from work and enjoy time with family. Remember that your wealth will not be worth anything if you are not around to enjoy it.
The BPI AIA Wellness Series products that are bundled with AIA Vitality helps and rewards members along their journey toward better health. With partners in diagnostic and medical care, one can avail of discounts in laboratory tests and the like. The program also has gym and sports equipment partners where members can enjoy membership or merchandise discounts. And to sweeten the pot some more, your hard-earned points are best enjoyed with leisure partner establishments, where you can watch a movie, enjoy a vacation with the family or travel.
As we mark the end of another year and the start of a new one, maybe it's high time to reconsider our own bucket list—things we want to achieve, places we want to go to, and experiences we long to have. However, let us not forget to pay attention to building our wealth and protecting it so that we can reap the rewards later on in life.
To know more about BPI AIA's Wellness Series, visit the BPI AIA website.
Invest in both your health and wealth with BPI AIA Wellness Series
Get the power to protect yourself and your family with an affordable life insurance plan. Life Ready Plus is easy on the budget, but offers coverage of up to 30 times your yearly payment to support the financial needs of your loved ones.
The plan gives you fast access to coverage and benefits and can match your long-term financial goals when maintained within an appropriate term.
Critical Care Max will help you make more memories by providing financial aid during the early stages of a critical illness. This unit-linked life and health insurance plan offers assistance on your recovery. You can build a health fund that grows over time, depending on your chosen investment, to pay for other medical costs.
In addition, it comes with a hospital confinement benefit that will replace lost income due to hospitalization. This daily cash benefit may also come with optional benefits like cash payout for surgery-related expenses, allowance for consultation fees, and many others.
Let your loved ones enjoy the fruits of your labor even when you’re no longer around. Build Estate Plus is a unit-linked protection plan that will cover your estate taxes after your passing so that you can ease your family’s burden.
It doubles as an investment savings fund that builds Account Value as you pay. It is also integrated with AIA Vitality that provides additional upfront coverage of 20% to your policy and add-ons.
Be in good hands in times of sickness. Let Critical Care Plus, a unit-linked health and life insurance plan, take care of you with financial aid in case of a major illness, so you can focus on getting better and spending more time with your loved ones.
It even gives you more benefits for having good health through the AIA Vitality program that adds 20% upfront coverage and supplemental benefits on your policy.