Financial Literacy, life insurance, Personal Finance

You do not need Life Insurance



Yes! You are right, you do not need life insurance. Life insurance should not be part of your financial portfolio. You do not have to worry about the billing statement of the life insurance companies send you. You do not have to set aside a small amount of your income for the premiums of your life insurance because those are only expenses. You do not need to check if you are properly insured or not to a Financial Planner. I would like to share with you the three reasons that you do not need life insurance, I hope that I can convince you that you do not need it.

These are the 3 reasons why you do not need life insurance:

1. If you are immortal,you don’t need life insurance. You don’t have to worry about dying because even if you will have a tragic accident, it is okay because you will not get hurt and can still get out alive.

2. If you do not have dependents who rely to you financially, it is okay not to have a life insurance. At least,you have to be ready to secure a budget that you can give in advance to someone for your funeral services or land to buy where you can be buried.

3. If you will not get sick for the rest of your life, you do not need life insurance.  I want to talk to you to know how not to get sick ever.

With these three reasons, you don’t need life insurance ever.  But if you don’t have these all three reasons,you surely need to get a life insurance. Life insurance should be part of your financial portfolio for you to be protected while working hard to achieve your goals for yourself and for your love ones. If you can set aside a budget for your daily expenses,you also have to set aside a budget for your life insurance.  Life insurance gives you a peace of mind if risks of life happen like Death, Illness and Disability that prevent you from earning money.

Do you know that as low as Ph67 per day you can start already to insure yourself? Yes, you can start with that amount.

Here are the sample details:

Age: 29

Premium: Ph67 per day or Ph2,000 per month

Life Insurance Coverage: Ph500,000

Dread Disease Rider: Ph500,000

Here is the illustration:


Getting your own life insurance is not that expensive, you can start as low as Ph67 per day and you can be insured already. From this illustration, you will just have to save for 10 years for your life insurance and the money that you put in for 10 years will give you a life insurance coverage of Ph500,000 until age 99. Now, the exciting part here is the money that you put in for your life insurance will grow overtime. You can withdraw this money partially at least after 10 years so that your  life insurance can still be active. If you will not withdraw, if the money earns 10% per year, at age 60, you would have Ph1,928,450.95 already which you can use for your retirement years. If death comes in the future, your beneficiary will get the the death benefit of Ph500,000 plus the amount of the fund value.

Let us say, the policy holder passes away at age 40 and if the fund value earns 10% which is Ph346,616.49, the death benefit that the beneficiaries will receive the Ph500,000 Death benefit plus the fund value which in total of Ph846,616.49 which will be tax-free if the beneficiary is irrevocable designation.

Now, this just never ends here. It has a Dread Disease Fund of Ph500,000 that can cover dread disease if it happens. After 30 days of diagnosis of any of the dread disease that is covered, the policyholder can get the Ph500,000 to use for medical treatment and his life insurance and his fund value are still intact.

Here is the detail of the Dread Disease Rider:


Knowing the benefits of Life Insurance, it is wiser to insure yourself so that you can protect yourself and your family. I believe that Life Insurance should be called Love Insurance because it is not about dying or getting sick but is about your love ones who will be taken care of if the time comes that you can no longer provide for them. Now, the question is do you need life insurance or not? I believe that it is important that you protect yourself before anything else because you are the money making machine that provides to your family, without you, your  family will be greatly affected.

Thanks for reading my blog.

Let’s all aspire to become Financial Independent Filipinos. Be Free!

Archie M. Yuki
Financial Planner,Investment Consultant and Insurance Specialist
4th floor Karina Bldg., No. 33 Shaw Blvd. Pasig City
Tel No. 571-3274
Mobile Number. 0917-5769607, 0923-4941362
Email Address:

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