Friday, May 18, 2012

How to Protect Your Most Valuable Asset: Yourself.

Except for car insurance (which is mandatory), it was never taught to me how important an insurance is in our life. (I think in most Filipino household, getting an insurance is not really a favourite topic). 

Personally speaking, getting an insurance is just an additional expense.  I feel that we can only benefit from it upon the happening of any "uncertain" events, which we do not know when it will be.

At age 23, I was introduced to a variable unit link (VUL), ie: variable insurance.  This kind of investment vehicle offers insurance AND investment which is similar to what fund managers do.  If not for its saving/investment feature, I wouldn't have gotten this product.

Two years after, I only appreciated insurance when I started travelling abroad and learning about cultures of first-world countries, such as those in United Kingdom and European Union.  British are very particular for insurance, I think everything that they have has insurance! (For example, when I bought my camera, the store owner offered me insurance for it.) I know product warranty, but insurance? I find it weird. _@.@_

Travel Insurance
Looking ahead to travelling from UK to Philippines (and hopefully other parts of the world), I took a travel insurance offered by my local bank here during the very first week that I arrived.  The travel insurance amounts to approximately Php3500-3700 a year. Ain't bad, dbah?  The yearly payment would just amount to Php10/day for 365 days.  Travel insurance is also a requirement when we applied for Schengen visa, the visa to travel in Europe.

The Benefit of Having An Insurance
Medical insurance:
Our medical insurance is already shouldered by our company - and I was able to benefit from it when I "feel" to just go to my doctor to have some check up (pretend that I'm sickish so I can get free medicines). Hehe..! Consultation to physician is being shouldered by our company insurance.  I think most or some of the companies in the Philippines also have this kind of insurance, such as those who has Intellicare or Maxicare.

Travel insurance:
Last January and March, when I experienced flight delays, I called my insurance and asked for payments (haha).  Nothing really bad was "damaged" to me, except for the hours that I waited and rebooked my flight. (Note: If you get travel insurance, read the policy to determine what are the events and how you may avail for insurance refunds.)  The amount of insurance refunds would almost pay-off the tickets I paid for my flight! Hahaha.. It was just aaaawwweeesome! =))

I guess everyone already knows that WE are our most valued asset.  Having an insurance is paying for our peace of mind, and... peace of mind is priceless.

Keep learning and keep on moving forward!

Lyn-Lyn _(",)/

1 comment:

  1. Ate Lyn, I want to know more about insurance. Please advise, san po ako pwede magbasa over the net about it? Thanks! Godbless! :)


Related Posts Plugin for WordPress, Blogger...