When you feel like questioning if getting insurance is the right decision, make sure to look back on the advantages the insurance has given your life. First, you only buy the right insurance while you invest your extra money on other things.

In addition, you are well informed about the insurance you got. Furthermore, you have peace of mind in case an accident occurs so that your family will have something to support them. Lastly, you feel like you are financially protected in all ways. 

In getting life insurance, Manila Bankers Life Insurance Corp. offers various services that could help you and your family have a secure future. Learn more about Life Insurance by checking the website: https://manilabankerslife.com/products.html

Here are five ways on how life insurance can help you build multi-generational wealth for your family. 

1. Life insurance proceeds are usually tax-free.

A typical scenario for insurance recipients is that the money from a life insurance policy is generally not counted in calculating your gross income. The inheritance of these funds in a tax-free manner could help your family to establish generational wealth.

2. Life insurance as a tool for paying estate taxes

Most families would use life insurance to help cover living expenses in the event of an untimely death, such as mortgage payments and medical costs. For many affluent families, life insurance can offer another benefit by paying estate taxes.

The death benefit is paid out upon the insured’s passing, and the policy’s value is added to the gross estate value for tax purposes. Plus, death benefit payments can be used to cover any estate taxes that may be incurred.

3. Life insurance can ensure your children’s education.

Having a life insurance policy is the key to building a financial backup, especially if you have young children and the unfortunate happens. Life insurance can help in your children’s education as it accumulates cash value over time. And you can tap that money in the future for whatever you want, such as to help with their education expenses. 

4. Life insurance as a lifesaver in case of emergency. 

In life, emergencies are inevitable from sudden hospitalization, and business challenges. You can take out a loan against your permanent policy which is usually lower than what’s charged by other lenders. And access is much easier than getting a traditional loan since the money is already there in your policy acting as collateral.

5. Life insurance is a tool to accelerate death benefits to provide for you and your family before you pass.

If you have terminal illnesses and your life insurance policy has an accelerated death benefit, you could access the money in the policy while you’re living for things like medical bills, cost of care, or even to take a dream vacation with your family. Any remaining death benefit would still go to your chosen beneficiaries after you die.

Having life insurance for your family is the best way to help build generational wealth and put your loved ones ahead and provides them with a secured future in the long run.

Manila Bankers Life is with you in helping you build generational wealth with its different life insurance plans that would suit your needs.

For more information, you can visit Manila Bankers Life‘s website: https://manilabankerslife.com/products.html

Let them help you for your plans for the future as you continue to show your love to your family!

If you are having thoughts about having life insurance, check this list of questions that you may have in mind to help you in your decision as newlyweds to have one.

1. When Should Couples get Life Insurance? 

Newlyweds who plan to have a family are often put off buying life insurance until they have kids on the way. But experts say the better time to buy is usually earlier. This would help you in setting up your financial goals and have something that they can depend on. By buying a life insurance policy as newlyweds, you’re likelier to start having meaningful conversations about your financial future head-on.

2. How Many Policies and of What Type?

Your life insurance decisions in marriage begin with the question: one policy or two? Two is the more common choice, and the cons to a joint policy outweigh the advantages for most newlyweds. A joint policy may make sense for young families looking for income replacement to maintain the same lifestyle or for those looking to facilitate the estate planning process

As for the variety of policies to buy, newlyweds’ primary options, are either term or permanent. Term life insurance, which provides coverage within the selected term, typically between 10 to 30 years, is the most convenient and affordable type across the board. On the other hand, lifetime life insurance provides permanent coverage with a guaranteed death benefit.

3. How Big Should the Benefits be?

The most common formula for buying life insurance is to purchase coverage somewhere between 5 to 10 times your salary — which, for a couple, would be the multiplier of your combined annual salaries. However, a better way to determine the right amount of life insurance should not be formulaic but based on each couple’s financial situation.

You can start by taking inventory of what you’re trying to protect, whether that be your home, business, family, or your child’s college education. From here, you consider the options available to you and compare premiums.

4. How Long is the Coverage Needed and When to Start?

The period over which a couple needs to be insured should also be tailored to their financial plans. Always keep in mind that the younger you are when you buy life insurance, as a rule, the lower the premium will be. That’s the case not only at the start of the policy but throughout its term because premiums are locked in for the entire period.

The early start, the better the coverage because it will help you in the long run, especially when you get older. Let’s face it, the older you are, the more likely you are to develop medical conditions that could further add to the effects of age in raising your premiums.

5. Do I Have to Change my Life Insurance From Time to Time?

Having life insurance as newlyweds doesn’t lock you into the same coverage forever, or even for the term of the policy. If your finances dramatically changed, you’re free to cancel your policy before the term is up. Always review your policy whenever you experience a major life event that might require additional coverage.

6. Does Life Insurance can Help Protect My Spouse? 

Your spouse might not completely rely on you financially. Also, a nonworking spouse could probably find employment if something were to happen to you. If in case you’re the primary breadwinner or not, life insurance could still help protect your spouse by providing additional financial stability. The purpose of life insurance is to help protect the ones you love, even when you’re no longer here. It’s one of the reasons that marriage is a life event that could prompt you to reevaluate your insurance needs — and update or take out a policy that could help provide for your spouse.

7. Do you want Joint Life Insurance or Separate Policies?

Your future family’s well-being is a motivating reason for most to get life insurance to cover different expenses that would come along the way so that your family can continue to survive in a long run. Joint life insurance policies are geared toward married people and are beneficial for couples. There are advantages and disadvantages to both individual and joint life insurance policies. The best option is the one that fits your family’s finances and needs for the future. But before making any decision, always consult your financial advisor before making any final decisions on which type of insurance you are going to have for your family.

Making a big decision to have life insurance as newlyweds is something worth discerning and Manila Bankers Life to help you show your love to your spouse as you now begin a lifelong chapter that you will enjoy together. For more information, please visit Manila Bankers Life‘s website: https://manilabankerslife.com/products.html

1. You will never know what the future holds

One thing is certain in life, life is unpredictable. While various types of insurance can protect and compensate for damage to your valuables and home, no price can be put on someone’s life. Still, death is one of life’s certainties. And, life insurance is one tool for having a financial plan in place when the unthinkable comes.

2. Secure your future even at a young age

Having life insurance at a young age is a great advantage because it is cheaper in annual premiums the younger and in good health, you are when you buy your policy. It is often a smart financial move, providing a safety net for your loved ones and beneficiaries (like your family and trusted friends) if you die prematurely, and may even accumulate cash value.

3. Life Insurance can give you peace of mind

Having life insurance can give peace of mind that their loved ones will be taken care of. Life insurance could ease financial hardships for families in case something happened to the policyholder.  The loss of a primary earner or caregiver could destabilize many families with the combination of added costs and less money coming in. Even a modest life insurance policy could help fill the income gap during such difficult times.

As we looked at what we learned about Life Insurance, it would be a great time to have one to help you secure your future and have the confidence to live worry-free. Manila Bankers Life helps you plan and secure your future while you are still young and eager to make the most out of your life. Manila Bankers Life is a shoulder to lean on, especially during hard times with plans that would suit your needs.

In this day in age, life insurance should be considered a basic need because it will be a backup and safety net in times of uncertainty. Typically, this type of coverage will allow loved ones to do things like replace your income, pay off a mortgage, or send your kids to school.

Everyone can benefit from a life insurance plan, because of the coverage and benefits that it gives in the long run that it’s accessible to most people in all stages of their lives. 

Having life insurance can help you to prioritize your needs.  Understand the personal factors that affect cost. Your age, personal health status, family health history, gender, smoking habits, and the job will all play into your premiums. 

Everyone’s needs are unique, of course. An experienced Manila Bankers Life’s licensed insurance agent will be able to help you narrow your options and help you in having life insurance as part of your basic need.

MBLIFE is consistent with its commitment to its tagline “The Best Way to Show Your Love” by providing innovative products in its portfolio that are tailor-made to cater different needs of its clients. 

If you are considering having life insurance, or better yet, switching from your previous insurance provider, here are the 5 things that you need to know about Manila Bankers Life Insurance.

1. Creates a good connection with clients

MBLIFE is consistent in creating a good connection with its clients with tailor-made products that addressed their every need. What’s more, Manila Bankers Life can be easily found in malls where most people go almost every day to make MBLIFE more physically accessible to more people.

2. Licensed Underwriters

With over 1,000 licensed underwriters, Manila Bankers Life assures quality services are provided by their trusted, competent, and well-trained underwriters to ensure that your policies are issued.

3. #15 in the Top Life Insurance Companies in the country

From rank #26 in 2017, Manila Bankers Life now ranks at #15 in terms of net income from the year 2021, outperforming other 16 life insurance companies, including foreign ones. This ranking shows how passionate they are in their work to help bring Filipinos a stable and protected financial future.

4. First Insurance Company to use e-commerce

Since 2018, Manila Bankers Life is the first insurance company that is first to use e-commerce to sell and present life insurance by the Insurance Commission. 

5. Technology

MBLIFE sees technology as their ally as they implement paperless and advanced technology in their innovative products. What’s more, they are committed to innovation to bring financial security closer to their clients with the Online Policy Management System that helped streamline their services anytime, anywhere.

Now the question is, Is Manila Bankers Life Insurance a Smart Investment for the years to come?

Life insurance is something that you may consider adding to your long-term financial plan that will ensure the security of your family. Life Insurance is known to ensure the security of your family and assurance that will help in the long run.

If we are going to look at it through this lens, life insurance is a smart investment that makes much sense. The investment portion of life insurance grows. The choice of investing in life insurance, not only for certain high-net-worth individuals looking to minimize estate taxes but also for having insurance and investing the difference is usually the better option.

If you are deciding to invest in life insurance, it’s always a wise move to do your research on the most suitable life insurance plans to get the most beneficial policy possible.

Millennials have the flexibility and time to study investing and learn from their successes and failures that would influence their choices. Technology became their companion which helps them to research investments and how-tos on investing that can contribute to their knowledge base, experience, and perhaps expertise.

Millennials have great opportunities as they will have a chance to increase their longer-term wealth accumulation. Millennials have a more sustainable mindset than previous generations. They are twice as likely to invest in companies targeting social or environmental goals. The optimistic view of the world can also be translated into their decision-making as they wanted their investments can help make an influence change in the modern society.

As insurers always say, invest while young. It seems that the Millennials are taking it seriously. More and more Millenials are seeing life insurance as a long-term investment that would help them in the financial choice that they will make, whether starting a business, building a brand, owning a property, or pursuing post-graduate studies. 

Having life insurance at a young age provides better rates and coverage that would support them as they grow up and live their lives with fewer worries. 

Get your Life Insured Today with Manila Bankers Life Insurance Corporation and be secured.

Most Millennials and Gen Z, like you, won’t be entertaining the thought of having life insurance for the most part. Most people from this demographic would usually spend on food, gadgets, beauty, and entertainment. However, as you grow older, especially when the pandemic hit the world, you now enter the so-called “adulting” phase where you would make more wise decisions that would help them survive in this ever-changing world.

As this generation enters the “adulting” stage, you now starting to make decisions that would help you set for the future. One of the things that both Millennials and Gen Z are now considering is having life insurance. At first, they may not think about life insurance is something you want or need since you’re young and likely to be more healthy.

But that’s exactly the point, it is better to have life insurance while you are still young and healthy. As you consider having life insurance, go ahead and have one now because it is cheaper in annual premiums the younger and in good health you are when you buy your policy. It is often a smart financial move, providing a safety net for your loved ones and beneficiaries (like your family and trusted friends) if you die prematurely, and may even accumulate cash value.

What’s more, Life insurance gives you peace of mind and financial security. Millennials and Gen Z are always looking for things that would give them peace of mind to make the most out of their lives.  Life Insurance is like your safety net, or a backup, especially when the unforeseen happens to you. You wouldn’t want to spend much of your hard-earned income on hospital bills, or debt payment that would drain much of your income.

As you now consider having life insurance, you might be thinking, where would I get my life insurance, and which plan would suit me? Manila Bankers Life is with you to help you plan and secure your future while you are still young and eager to make the most out of your life.

Manila Bankers Life has been in the industry for a long time and it gained a reputation as a shoulder to lean on, especially during hard times. They have the plans that would suit your needs, like Money Saver which gives you the flexibility that provides various cash benefits that you may use for retirement, travel, savings, and even retirement as you grow older.

So to answer the question above, Yes you should get life insurance. Life insurance can help you in the long run, especially for you, coming from the Millennial and Gen Z generation. What better way to enjoy your life is to be secure for your future and make the most out of your life.

Millions of people who survived COVID-19 are expected to be dealing with medical issues including heart, kidney, and lung damage long after the pandemic subsides. But the long-term effects on mortality are unknown, even for those who had mild or asymptomatic cases. That left life insurance companies without the risk data they typically rely on in deciding who to cover, meaning survivors could have a harder time getting coverage or have to pay more. 

In 2021, as the virus was taking hold, many life insurers stopped issuing policies to people over a certain age and those with pre-existing conditions. Some companies stopped offering temporary coverage, which provides coverage during the underwriting process, and a number of companies actually refused to issue policies to individuals who survived COVID-19. 

During underwriting, life insurance companies look at many different factors. The insurer will want to get a picture of the risk you pose, which means looking at your hobbies, family history, and health. It’s of the utmost importance, to be honest on your application even if you have poor health or a risky hobby.  If you lie about your positive result in COVID-19, the insurance company can deny your application outright or increase your premiums later if they discover you withheld information.  Here are some of the steps you can take in case life insurance rejects your application. 

Step one: Talk to your broker

If your life insurance application is declined, the first thing you do is talk to your life insurance agent or broker, in cases where they don’t contact you first. The insurers will usually say why your application was declined. Your broker can work with you to analyze the decision and strategize what to do next. 

Step two: Show them your medical reports that you survived COVID-19

Sometimes, insurance companies won’t reject your application outright and instead will postpone your application to another date, usually six months to a year later. If, for example, you have been positive to COVID-19, the insurer typically will allow a full year to pass and allow your body to adjust to any new medications or symptoms and then check back with you to verify stability. 

Step three: Explore alternative life insurance products

If a life insurance company deems you to be a high risk you may still be able to get insured by purchasing an alternative form of life insurance. These are no exam life insurance policies, but they may offer lower coverage. 

One coverage you can opt for is guaranteed-issue life insurance, this insurance skips underwriting entirely. That means no medical exam or review of your medical records. You’ll still be asked about your health, and misrepresenting yourself will have the same consequences as it does for other life insurance policies. 

Make sure to scout for other companies. This is the best way to see if there is something out there that can provide better coverage for you. Scouting will help you compare the prices and coverage.