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Sunday, August 1, 2010

Financial security for your family

Nothing is certain in life. That is why we worry too much on what the future holds. Most people want to secure a future for their family especially if they have kids. Saving for the future is never a bad idea to begin with. Some people would venture on affordable life insurance and make sure their other half and the kids would get something in case something bad happens to them. I have an aunt in the PI who used to sell life insurance back when I was still working in the PI. I remember I have no concept of insuring for the future at that time since I was still young, single and unattached. So no matter how much she tried to convince me to get an insurance policy, I had always said no. But now that I think about it, getting a life insurance policy is not a bad idea after all. I guess you just have to find an affordable plan that works for you.

When I moved in the U.S., I realized how necessary it is to have a great accident and illness insurance coverage. In as much as we'd like to stay healthy and strong and away from accidents all the time, getting sick has always been a part of life. Accidents on the other hand happen when we least expect it. So it's important to be prepared all the time. A couple of months ago, Jeff injured his left index finger while he's at work. He had a deep cut from a metal grinder. I was shocked of course when he called me in the hospital's emergency room. It was not that serious though, they just had to stitch the skin back on. He has a great company accident insurance policy at his work so it was good that we never worry a thing nor did we spend a single cent for the bills and pain pills. As for my doctor's visit and other prenatal needs, our health insurance basically takes care of everything as well.

In our family, I had experienced deaths of close relatives. My grandmother on my mom's side, grandfather on my dad's side and recently an uncle of mine died of diabetes complications. In all cases, money for the funeral service had always been an issue. The immediate family members of the dead relatives always had problems with burying expenses. I could not be certain whether there's a cheap funeral insurance offered in the PI, but I know one can never be too prepared for such an unexpected thing. It's just sad that grandchildren, nephews and nieces had to contribute before the dead relative can be buried. But it's a reality of life back in my country.

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