Monday, November 3, 2014

30 Things Life Taught Me # 19 - The Irony of Insurance Policies

I'm about to finish paying the premiums of my first insurance policy. Count a few more months and I'm done. Some years ago, a friend invited me to attend an insurance policy orientation from her sister. My initial response was obviously, I already have one and I don't need another one. Over a month ago, a friend offered me another insurance from a different company. I was about to render the same response. I agreed to attend her presentation. But I already conditioned myself to decline. I don't know what happened but her discussion awakened something in me. In the end, I agreed to invest to my second insurance. So currently, I have two insurance policies to settle. (Dear God, please help me find more freelance work to settle my dues.

Some people might consider my financial decisions unwise. Why have two insurances? I should have invested my money to other profitable opportunities. I get the point. To my defense however, I found out that my first insurance resembled the traditional version. This means that most of the benefits can be availed during accidental death and dismemberment. One learning point here: I don't really understand the terms and conditions of my insurance policy. My second insurance is clustered under the variable type and provides more benefits that include health protection. I believe this is main reason why I was convinced to secure the second insurance. I needed the health protection. 

So after enrolling myself to two insurance policies, the irony about insurance later dawned on me. Am I really paying for protection? In my personal opinion, I'm paying for my own peace of mind. Heck, the price for having peace of mind is too expensive. Admit it, no one among us wants to reap the benefits of an insurance policy. If that happens, it only means two things. You went ahead to heaven or something bad happened here. And obviously, no one wants to land in any of the two predicaments. 

With this post, I'm not saying that securing an insurance policy is unnecessary. Maybe yes if you are 100% certain that you are healthy in your lifetime.  But obviously, the element of uncertainty is always the problem. So to save yourself from the fear of uncertainty, do yourself a favor. Avail of an insurance policy, get protected, eat right so you don't get overweight (my struggle) and pray that nothing bad happens. 

On a different note, insurance policies today have become diverse. Some would even offer cash paybacks as a result of the investment opportunities. 


  1. Right, it's the price of peace of mind that we pay. I don't wanna use any kind of insurance especially at my prime years. Pray na lang tayo na lagi tayong okay at sikaping magkaroon ng healthy lifestyle. :)

    P.S. Hirap din ako maglose weight sa ngayon. :(

  2. just got my second policy here in Singapore 2 months ago and yes, until now inisiip ko pa din bakit kumuha na naman ako. Hahaha. Anyway, I always think naman na "di bale, kesa naman walang kapuntahan ang pera ko kundi pagkain at gimik" Hahaha


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