September 29
On Term Life Insurance
After the onslaught of Bagyong Ondoy (International Code Name: Ketsana), many Filipinos have suffered. Most families, rich and poor, shared their own taste of the storms fury. Now, thousands of families have lost their homes, cars, properties and even the life of their loved ones. It was a terrible event and left many Filipinos in tears.
When calamities happen, most people will now think about the future. What will happen to my loved ones if I am suddenly taken from them? Will they just cry and seek help from others or will they be somehow secured with a little something left behind for them?
This is when people start thinking of getting term life insurance with ROP (return of premiums). Well, some may consider getting a plain term life insurance but others wanted to have an ROP with it. Why? Because if you get what you have paid the company after few years, it just means you have invested ZERO on your term life insurance policy.
Anyway, term life insurance usually covers calamities like this. They call this as “acts of God” or force majeure. But when it comes to cars, I think most auto insurance company does not cover this.
