I’m 23 and single, why should I get a life insurance policy?
Being single does not mean that you have no need for life insurance at all. Consider these questions:
1. If I get diagnosed with cancer today, where will I find one million pesos for my medical treatment?
2. If I get into an accident tomorrow and I can no longer work and earn any income, who will pay for my long-time care?
3. In case of my untimely death, who will pay for expenses associated with my funeral?
4. Are you planning to get a housing loan in the future? Did you know that the bank will require you to have life insurance to pay for your housing loan in case of your untimely demise?
5. When I have kids in the future, how will I pay for their education?
6. At what age do I want to retire? Age 50 sounds good, but where will I get the funds to sustain me for the rest of my life?
In all the questions above, a life insurance product is available to meet your needs. Another compelling reason why you should start as soon as possible is your health condition. Today you might be healthy, but some time in the future, your health condition can change. Did you know that life insurance companies can reject your application for life insurance due to health reasons? While you are young and healthy, get life insurance. Better to have life insurance when you don’t need it yet, than to need life insurance and not be able to get it.