Why the best time for young professionals to get insurance is now

(Press Release)

For those starting their careers, earning income for the first time is both exciting and challenging―exciting because you can now afford to buy things you want and even provide for your loved ones, yet challenging because you now have greater financial responsibilities.

While ‘adulting’ and learning to deal with the challenges of the real world keep you on your toes all the time, the pandemic has further complicated the daily grind, showing how quickly things can change and potentially take a turn for the worse.

With these uncertainties impacting not only people’s health but also their finances and growth opportunities, Manulife’s recent study found that many Filipinos are becoming more interested in life insurance, realizing its value and benefits.

Life insurance does help secure people’s future and that of their loved ones because long-term security gives you peace of mind. It is an effective tool in managing the financial impact of life’s uncertainties. It can also serve as a vehicle to accelerate your ability to reach your goals.

With financial protection and security covered, you can focus on living your best life at present, progressing your career, and achieving your goals.

For first-time professionals, here are some things to consider when buying your starter insurance product:

 

Affordable and renewable

Term insurance is a type of life insurance that provides coverage for a certain period of time or “term.” It protects people during the specified period so that in the event of death, a benefit will be paid. It is usually less expensive than other kinds of life insurance, as this product offers shorter protection coverage and is renewable, like Manulife Philippines’ one-year term product. Payments can be as low as ₱10,000 to ₱12,000 per year, or ₱28 per day.* At ₱10,000 premium, a 21-year-old male can enjoy life insurance coverage worth almost ₱3.5 million.* If longer coverage is required, Manulife’s React5 provides protection for five years, which can cost as low as ₱8,000 per year or ₱22 per day.* Both plans may also be enhanced with Accidental Death Benefit or Early Critical Illness riders for stronger protection for the unexpected.

 

Essential life protection

All life insurance products may have basic protection coverage, but choosing an affordable and flexible solution while also giving you the opportunity to grow your money can be challenging. Manulife’s Horizons plan, which is a variable unit-linked (VUL) product, aims to protect you and your family as the need arises, and also provides you with investment opportunities. It can also give you more control of your funds to suit your needs, including flexibility in premium payments.

Maximize earnings potential for long-term investments.

For those who seek more significant potential returns and long-term growth, various VUL life insurance products can provide long-term protection and investment in one plan. Manulife Affluence Builder offers to enable customers to get the life protection you need without compromising your budget. It also allows you to invest in Manulife’s expertly managed funds with exposure to different markets, depending on your budget and investment risk appetite. You can enjoy the protection you deserve and be able to grow your money this early.

Many young professionals ask, “When is the best time to get insurance?” The answer is now. Life insurance is generally more affordable when you are younger because time is on your side. When you start early, there can be more time for you to potentially grow your investment. With a Manulife plan, you can enjoy the present knowing you are financially secured, and live every day better.

To know more about Manulife’s insurance plans and find which one best suits your needs and budget, visit www.manulife.com.ph where you can learn how to get connected with a licensed financial advisor to best discuss product inclusions and policy provisions that may apply.

[wpedon id=”7508″ align=”center”]


Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/techandl/public_html/wp-includes/functions.php on line 5464