Simple answers to common questions about life insurance, health protection, retirement planning, and financial preparation.
Life Insurance Basics
What is life insurance?
Life insurance is a financial protection plan. If something happens to the insured person, the beneficiaries may receive money that can help with family expenses, debts, education, and other needs.
Do I need life insurance if I am still young?
Yes, especially if you already have income, dependents, debts, or future responsibilities. Applying while young and healthy may also make approval easier and premiums more manageable.
Is life insurance only for rich people?
No. Life insurance is for people with responsibilities. If someone depends on your income, you have a reason to be protected.
How much life insurance do I need?
It depends on your income, family expenses, debts, dependents, savings, and existing coverage. A good starting point is to calculate your protection gap.
HMO, Health, and Critical Illness
Is HMO enough?
HMO can help with checkups, consultations, labs, and hospitalization depending on limits. But it may not fully cover long-term treatment, recovery expenses, or income loss.
What is critical illness coverage?
Critical illness coverage may provide a cash benefit if you are diagnosed with a covered major illness such as cancer, heart attack, stroke, or other covered conditions depending on the plan.
Why do I need health protection if I already have PhilHealth?
PhilHealth can help, but medical costs, medicines, recovery, and lost income may still create a financial burden. Personal protection can help reduce that gap.
Breadwinners and OFWs
Why is life insurance important for breadwinners?
Because your income supports other people. If your income suddenly stops, life insurance can help your family continue paying bills, tuition, debts, and daily expenses.
Do OFWs and seafarers need personal protection?
Yes. Some benefits may only apply while working, under contract, or abroad. When they return home or stop working, coverage may change or end.
What happens if the sender of remittance gets sick or cannot work?
The family may lose both the income and the person providing support. That is why income protection, health protection, and emergency planning are important.
Retirement and Savings
Is SSS or GSIS enough for retirement?
SSS and GSIS can help, but they may not be enough for a comfortable retirement, especially with inflation, medical costs, and longer life expectancy.
Should I save first or get insurance first?
Both are important. Emergency savings help with short-term problems, while insurance helps protect against bigger risks that savings may not be enough to cover.
How much should I prepare for retirement?
It depends on your desired monthly retirement income, age, current savings, expected retirement years, and inflation. A retirement gap calculator can help you estimate.
Consultation and Application
Is the consultation free?
Yes. The consultation is free and for educational and planning purposes.
Will I be forced to buy after the call?
No. The purpose of the call is to understand your needs, review your situation, and explain possible options. You decide when you are ready.
What happens during the consultation?
We review your goals, responsibilities, current savings, existing coverage, budget, and possible protection gaps.
Is the assessment a final recommendation?
No. The assessment is only a guide. A proper consultation is needed before choosing any plan.