Life insurance as a Christmas present?

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The Christmas season in the Philippines is probably celebrated with much more enthusiasm than in any other country. It begins in the early morning of December 16 with a mass at 5 a.m., which is called Mass of Gallo, and the celebration continues until the feast of the Three Kings, which fell on January 6 but has been changed to the first Sunday of the New Year.

During this festive period, the head of the family is generally worried about gifts intended for immediate members of his family as well as relatives and godchildren, because he wishes to please them. Nevertheless, at Christmas, the giver actually receives more pleasure than the receiver.

At this time of year, the head of the family also fulfills his important role in ensuring the well-being of his relatives, especially if he is the main breadwinner. Especially since he would then have to appreciate the value of life insurance in case something unexpected happened to him and he was not around anymore, especially around Christmas time. The premiums he spends to keep his policy in force represent selflessness as he sets aside part of his income to ensure a more secure future for his family. So, life insurance has a special meaning of love and concern.

There are many ways you can use life insurance to make Christmas more meaningful. Life insurance is the answer for a dad who wants to make sure his family can still afford to celebrate Christmas. The proceeds of a life insurance policy can be arranged so that a certain percentage can be given to the widow every year around Christmas so that the father continues to be part of his family’s holiday even s ‘he’s not here anymore.

Another noble way to celebrate Christmas is to purchase a policy designating specified charities as beneficiaries in the event of death.

Yet another gift suggestion for ninongs and ninang, uncles and aunts, as well as grandparents is to purchase insurance on the life of a child. It is a growing gift. In the years to come, the insurance proceeds can help fund a child’s college education or can be used to start the youngster in business. It can also become the basis of a personal life insurance program when the child reaches adulthood.

Another gift suggestion is for the ninong Where ninang to take out insurance on the life of a godson and to assume the payment of annual premiums. This donation can help fund college education in the future.

And now, a word about the professional life insurance agent or broker whose job it is to spread the gospel of life insurance. Their job is not easy because they have to get people to act for the future by setting aside bonuses to protect their dependents. Too often the agent or broker is misunderstood and the resistance they encounter in their calls to prospects can be enough to break their will. But they keep walking and end up making a sale. But the real value of their sale is that it is an expression of love on the part of the insured who will appreciate the wisdom of his purchase only when, in the following years, he will not be able to subscribe. additional insurance even if he wishes. because of deteriorating health or increasing costs due to age.

The author is a risk management consultant and editor of Insurance Philippines magazine.


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