^ok ba ang endowment? Hindi ba parang bata pa naman sya para magka life insurance? I mean, wala naman syang dependents...
Yes okay ang endowment for obvious reasons = may nakukuha ka regularly.
And regarding sa bata na kukuhanan ng insurance, I understand that, wala pa naman sila talagang dependents eh, but for me (well my husband and I), it gives us sense of fulfillment that we are saving something for our daughter na sa kanya lang, sa kanya nakapangalan..it could also serve as dowry by the time she marries, in short=pamana.
Of course, that is on top of the other ari-arian kung meron man.
^ Not only that.
I have few reasons why I am against getting any life insurances for kids.
1) They do not earn any income. Primary purpose of a life insurance policy is income replacement of breadwinner.
2) These kids could pay for their life insurances themselves when they get older. Some jobs even provide life insurances that are paid by their employers.
I don't buy the argument that kids must have life insurances while they are younger and while premiums are cheaper. Sila (the kids) na dapat ang gumastos ng life insurance policies nila when they become breadwinners themselves, not us parents. Dagdag na gastusin lang kasi. I'd better put that money on their dreams, education and those co-curricular activities that they want on the side.
Your statements are all correct sis freelancer. IF one is to get a policy for the KID's life insurance (protection) and NOT for education funding. Just to raise some arguments also:
1.) For education funding, that's why there's Endowment plans and MF plans available.
2.) Well to each his own, like my reason which i stated above.
And yes I agree, it's cheaper when the insured is still young, kaya dali-dali din kami kumuha for my daughter after i gave birth
But I don't agree na dagdag "gastusin" lang yon, kasi hindi naman sya tinatapon or pinambili ng something na gagamitin ko lang or mauubos ko lang (like food or toy), hindi sya expense dahil naka-safety lang naman yung money sa insurance company (while earning dividends) or naka-invest pa (kung VUL or MF), plus other benefits pa (e.g. endowment). That money that we save while they're still babies could be used on their dreams, education, and those co-curricular activities that they want on the side...because with my daughters' policies, we can withdraw partially the dividends, endowments or even the fund value.
Oh, by the way, syempre insured din kami ng husband ko before we got our daughters their own policies..Getting insurance for the children alone (tapos yung parents ang hindi insured) ang non-sense for me.
Tama yung sabi ni sis swit_squiggle na wag lang kukuha ng basta-basta, hindi porke na-sales talk, it's a shame if you will not feel yung feeling of being "secured" and "financially independent" kung hindi mo naintindihan yung binili mong insurance.
