Do we really need insurance?

Most people are MISINFORMED about INSURANCE

and worst others are UNINFORMED about its IMPORTANCE. 

 Bob Proctor

Do you really need insurance? If you have INCOME REPLACEMENT or IR you DON”T need insurance.
How to get the IR?

Formula: Monthly Income x 12 x 10

Example: Php 20,000 x 12 x 10 = 2.4 Million Php

INCOME REPLACEMENT: 2.4 Million Php

It simply means that if you have Income Replacement which amounts to 2.4 Million Pesos you don't need to buy insurance. The BIG question is, "Do you have this amount RIGHT NOW? If your answer is NOT YET you better procure your own insurance policy. 


Here are the reasons... WHY???


1. While we build our wealth we should get PROTECTION. Insurance will not only protect us but also our family especially in times of sickness, untimely death, disability and it protects our properties.


2. Insurance is a GREAT investment. Why? When a person dies all his savings and properties will be subject to 20% ESTATE TAX but Insurance is EXCLUDED. It is not subject to PROBATE therefore the beneficiaries or the family can get the money right away. What a wise investment!!!

The truth is we need insurance. Why? Insurance is the main investment instrument 
that we can use to protect our other investments. 
Aya Laraya, Pesos and Sense

Pesos and Sense INSURANCE

3. Insurance with investment is a good investment vehicle to compound your money. You are not only protected or secured but at the same time you will enjoy the compounded interest of your money when your policy matures.

Do you really need INSURANCE? The answer is YES!!!

      ANC Shop Talk: Personal Finance: Insurance 101 1/2