Importance of Saving and Investing in Life Insurance

The importance of having savings cannot be stressed enough. You will have peace of mind when you know you have enough money set aside that you can spend just in case there is an emergency. But this is not always easy. We have all been there, there is something we want to buy that would get in the way of us putting that money into the bank for savings.

This is not a bad thing. After all, you work to be able to reward yourself after a long day. Right? We all deserve a break sometimes.

Giving yourself a treat is not wrong. At the end of the day, you worked hard for that money and you have the right to decide how you spend it. The problem is many people take too many breaks, and invest in all the wrong things.

A shiny new smartphone can look good in your hands now, but then in a few months, that phone will no longer be the latest model, and you might find yourself wanting to invest in the new latest phone.

Investing in Life Insurance can solve many problems

Saving for the future. A life insurance policy will make it a “no-brainer” for you to save money. It will just be like any other expenses that we pay each month. The amount that is paid in an insurance policy will be decided by the policyholder, so you will not be paying for something that you cannot afford. At the end of a certain amount of time, you will be surprised to see how much you have already saved!

Having an investment. Many people think that for you to have an investment, you need to have a lot of money. This is not always true. You do not have to buy a Jollibee franchise to “invest” your money.

Work with what money you can afford to set aside, and that will be your investment. In a few years of investing in your life insurance policy, you will see that a little goes a long way.

Emergency funds. This is what most Filipinos have a hard time with. Most of our budgets are fixed, and when an emergency suddenly presents itself, the whole budget is blown to smithereens. Many Filipino families do not have a fund that they can reach into when a family member goes to the hospital, or when an unexpected school expense would come up.

A life insurance policy will provide a solution to this conundrum. Life insurance also includes coverage for medical expenses and emergency funds.

You will be able to dip into some of the money you have set aside and withdraw it when there is a sudden need for cash. There will be no more need to borrow money from your neighbor or to pawn your wedding ring. Your insurance policy will take care of this.

Life insurance is one of the most important investments you can choose to make

The best thing about this investment is that you get to make all the decisions about your policy. You can be sure that only you will decide what you pay for, as well as the price you pay for it. You will not regret getting a life insurance plan because it is the answer to all your budgeting problems.

For a small premium every month, you will still be able to buy your wants. Do you still want those new shoes? Go ahead and buy them! What about that new restaurant you and your wife have been dying to try? You can still enjoy a date! Why?

This is because you will already have set money aside in your life insurance plan. This money will go to your future, without affecting how much you can enjoy today.