Perception about Insurances

Live poor so you can die rich. That's a joke I heard regarding insurance. If I can afford it, I'll buy more and more insurance for my husband heheheh joke! Not only for my husband, but for myself, and my kid too. It's an investment for our children's secured future. We never know when our time will come and it will be not our children's fault if we leave this planet early, so they don't have to suffer, right? Also, insurance is a good way to cover up your loan. So, just in case something happens to you, your family won't have to sell anything just so they can pay your debt. I wonder how come others won't consider your insurance like an investment, like if we apply for visa, they only ask for land titles and car registrations. But our money goes to the insurances not to lands and cars. Won't that be considered too?

I believe life insurance is a need, especially if you have people (especially your children) who depend on you. Hey, we're all gonna die someday, we just don't know how or when. It's best that there's already some money that can support your kids' needs when you suddenly die for whatever reason. Morbid, but unfortunately, that's the reality. Health insurance is something you also need, even if it's just Philhealth (the mandatory insurance set by the government here in the Philippines). We can't be healthy all the time. We may get sick, and like it or not, hospital bills are expensive. Not only that, if you're sick, you can't work. The health insurance will help you through that time. I think education is classified as "pre-need" rather than insurance. It's an investment. I think the yields for this type of investment is really not that great. I'd rather put my money in equity mutual funds right now. BUT the good thing about an educational plan is that there is a built in, sort of insurance for the payor. If, heaven forbid, something happens to the payor (usually the parent), the plan is considered completely paid and the child gets the benefit at the time of maturity. I didn't get educational plan because (1) I didn't like the yield and (2) it's really quite expensive, we still don't have the budget for it.