Life Insurance

In the Philippines, life insurance does not play a significant part in the future plans of most Pinoys. Only those who belong to the middle and upper classes could afford to spend a portion of their income on life insurance plans. The low-income earners do not have enough time and money to secure their future; they are so preoccupied getting three square meals a day to worry about a future need.

The low-income earners who could barely afford the most basic of necessities are very much vulnerable to emergencies that life might throw at them. They need a life insurance plan as much as those who belong to the middle and upper classes. The government should start working with the major insurance providers in the country and come up with cheap insurance packages. For its part, Philam Life offers inexpensive packages suited to the paying capacities of low-income earners.

If you are planning to have a life insurance, do not rush thing, carefully study each insurance provider for plans that are to our advantage.

Likewise, be extra vigilant in paying your monthly insurance premiums. Some collectors do not submit our payments on time and worse will not remit it at all. It is far better to pay our monthly dues via credit card.