Wednesday, April 2, 2008

Insurance Savy

I work in the Insurance Company(Philippine American Life Insurance co.) as an Admin Officer for 5 years. First I dont have an idea what good benefits you can get from Insurance but if you really know what is the benefit of having an Insurance,Im sure you will choose many life insurance.Some dont believe on Insurance specially our own friend in the Philippines. If I have enough money to pay Insurance I will buy many life Insurance Coverage.Good for your loved ones,(you could not tell)although premium is too high specially if you get the big face amount.Claiming no problem as long as the requirement is there (base on my experience)and you can loan on your own policy if you need it as soon as your policy have a CASh Value usually it takes 3 yrs base on my experience but I dont know with some other Insurance company. When most people set out to buy life insurance, they choose either a term or cash value policy but policy choices and strategies are much, much, more diverse today.For me, I choose Life Insurance....Buying both types of policies for term and cash value is ideal when an individual or family wants a large amount of coverage and the savings benefit of cash value policy but can afford the high premiums specially here in UNited States.Life insurance can protect heirs in the event of death of the breadwinner and can help them pay estate tax.Policy Illustration that are not guaranteed and that do not clearly indicate premiums may rise or death benefits may lapsed early.Compare what each insurance policy is willing to guarantee contractually.