DESPITE its importance, many people find life insurance complex and daunting, often leading to misconceptions and hesitations about obtaining coverage. However, by shedding light on the key principles, benefits and considerations of life insurance, individuals can explore this critical aspect of personal finance with confidence and clarity, ensuring their financial well-being and that of their loved ones.
Life insurance is an important aspect of personal finance. Despite this, less than 10 percent of Filipinos are insured. I would say part of why Filipinos are not aware of how important insurance is or why they don't take action is because they don't fully understand how life insurance works and how it can benefit them. Here are some misconceptions about life insurance that, at times, prevent an individual from getting his own insurance.
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