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Choosing the Best Insurance Company in the Philippines

This is not an easy task to do considering all the insurance and pre need companies out in the market today. Trusting an insurance company with your hard earned money and the future of your love ones is sure hard at times. However, this should not worry us because there are sure many companies here in the Philippines that are suited to cater our financial security need. Hearsay should not also worry us when it comes to trusting these financial institution. Take note that these companies are created out of a large group of people who wants to minimize their risk from life uncertainties while saving, keeping the value of their money against inflation, and a chance to more compared to other financial institution. 

The reason why its said that insurance and pre need companies are said to minimize risk its because the number of investors and insured individuals is so large where these companies can use statistical analysis to project what their actual losses on claims or what not. They know that these people will not suffer losses all at the same time, therefore these companies take their chance to invest the pool of money that came from investors and insured individuals to make the business grow.

As an investor we should be doing our own research before we invest. It's also best that we consult a financial advisor - each of these companies have many financial advisor who wont just offer free estimate for your financial security  need but would also show you and guide you on how to attain your financial goal. 

Things that should be considered before getting an insurance plan;

1. History

Its better to choose the company who has been in the business for the longest time, its because they already created a formula that made the business last. An establish track record is something that you must go looking for when choosing an insurance company.

2. Size Matters

The internet can be a great source of information when we are wanting to rank all these insurance companies in the market. Well of course we want to invest our hard earn money with the best company there is. Here in the Philippines the insurance commission can be a great help in our decision to get an insurance plan. The said government agency have all the information that you need from list of insurance companies that are certified it also have statistical rankings like base from the company's premium income, assets, net worth, paid up capital, net income of all the insurance and pre need companies out there. 

3. Product Line

Insurance policies are not off-the-shelf products. In order to meet the varied needs of a policyholder and clients, insurance providers offer innovative products. Your insurance needs are different at different stages of life. Base from one's research, shortlist the companies that offer products that meet your needs. The company you choose should offer all types of life insurance policies to ensure you get to choose.

4. Excellent Customer Service

Insurance terms can be at times intimidating however this should not stop us from asking a lot of questions before we get a policy from an insurance company. at times like this, a trusted financial advisor can be handy. They are the ones who can help you get the right plan specific to your need. They are also the ones who help you in terms of processing your policy all the way to getting your claims. 

The Best Time To Save

You might be thinking about the best time on when to start your way to be financially independent. A lot of people that i dealt with normally say;

1. When they have a steady paycheck

2. When they are earning more

3. When they are older

Worst case scenario;
4. No plans at all

I am 26 years of age now, I have a wife and kid. My wife don't have a job yet. My siblings are also depending on me. I am also currently talking my MBA, I want to finish my graduate school somehow. I just want to share my personal experience about this topic which I believe it's a very good example concerning this matter. 

I remember when I was in college. I only get money from two sources. First, I was a working student in our school. The school pays our tuition fee and miscellaneous fee plus an allowance of P475 per 15 days in exchange of our labor. Second, I also receive a bit of an allowance from my parents. Despite not having enough, I was able to save P2,000 or more at the end of each year. 

After graduating I immediately got a job in one of the BPO company. It pays well, where during the 1st year of my stay, I was earning P10,000/ month. On the 2nd year my salary increase to 12,000/ month. The sad news is,  2 years passed by yet I haven't saved any. Worst thing is, I also spent my savings during my college years. I was thinking then, maybe when my salary increases that I can start saving. Third year stay at the BPO industry, they increased my salary to P14,000/month. Yet, I resigned not having any savings from my first job.

Well, after I resign on my 1st BPO company, I got another job on another BPO company. At 1st the pay is P14,000/ month, that's the same with the rate I had with my previous job but after i got regularize it went up. just so you know I have been doing a lot of overtimes as well during those years. am proud to say that I maybe one of the company's asset when it comes to overtime. So maybe you can imagine I am already earning a bit compared to how I was before. However, 4 years ended in the BPO industry yet I wasn't able to save anything. (This cant be happening . . ! )

Gladly, on my 5th year working,  realization came to me, I started with a plan to save P20,000 (a secret savings that my wife don't know lol) by the end of the year, which was some funny new years resolution. It started out well, as a matter of fact I was able to save the said amount after the 1st quarter, so I change my goal to P50,000. which again I was able to meet somewhere after the 2nd quarter. And maybe you wont believe it but that year ended very well.

6th year came, I started making more exciting plans and setting goals. The year is not that good compared the 5th year. some challenges came in but whenever I think about my plans and goals I get more inspired. I got hook up with saving, investing, increasing my financial worth and the people around me. It just started with that simple goal, it started small, now am loving it.

# The figures are not that much but I hope you get what i meant to say #
# This are some provincial rate for a BPO company #
# Our cost of living here is not that much #
# Comparing the salary to other institution, I say it's fair enough for a married guy like me #

I believe I am not the only person who experience such. Take note that it's not about the age, nor the steady paycheck, nor the amount that you can save. It's about developing the habit to save little by little. Start early, start now. I sure you will be surprise what that small amount would look like 10 years from now.

Yet again, you are not alone in planning and managing your way to financial success. You can always team up with your trusted financial adviser to make it easier and safer for your wealth build up.

Small Steps for Big Goals

Just the other day while am waiting for the time, I just drop by some random computer shop to finish my blog. I was so dame serious then thinking about what topic to write when all of a sudden some random young lady sat beside me and made my day better. She reminded me about the importance of what I do, that despite hardship of sharing the gospel of finance, someone out there believes and dreams of having a better tomorrow through the financial market. At first I thought it just some typical customer who visit the computer shop to do Facebook or maybe to play a games but what made me happy was, her going over her COL Financial website (online stock broker in the Philippines). It was fun talking to her, she was happy sharing her experience where she was able to double her money in just a span 4 months. From here original P5,000.00 she earned P4,000.00. In my mind she's lucky as a starter (lol). Which she admits that she was. Any way, the point there is;

1. Invest early 

Starting early means a more time for her to learn and get used to the financial world. The earlier she is expose to the financial market the more she learns the do's and don'ts. The more she increase her skills to make her money work for her (passive income). It also means more time for her money to earn.

2. Start small

In investing, I want to emphasize the importance of starting small for various reasons;

- irregardless of how big or small, what matter is the habit and fun of appropriating portion of your hard earned money for the future.

- investing comes with risk, where the higher the reward means the higher the risk thus the other way around.

- investing small gives one a chance to adopt and be prepared for the greater risk and rewards that one can achieve. 

- not everybody have the huge amount of money to invest thus, to encourage the ones that don't have much yet.

These two are just some point to ponder why we need to start early and start small.

Well again if you want to start your small step with your financial goals. Don't experiment, get with a trusted financial adviser. Take note that your dreams can be achieved through through proper guidance and with the right system.

Hard Fact About Being Employed

This day I came to realize how employees can be so expendable. Sad to say but a good friend which I have known for her dedication to the company need to exit. Employed for years in the company, she's been here and there on some of the supervisory position, she helps build people within the company. Imparted her knowledge and skills to her co-employees. She seem to be a perfect employee, however for some business reason, they let her go. A sad fact for all employee out there, take note that no mater how good our standing is at the present, still we are not in control. When the business needs to do what it need to do for the sake of keeping the business then they can just let you go.

For all the employees out there, one simple thing that we need to do is be financially prepared. 

Why?

Take note that the real fear of not being financially prepared is not the money it self.  We are not pertaining to the luxury that one can get when we have money or the wants the one can buy. Being financially prepared gets one ready when life crisis like the example above happens. It satisfy the need for us to continue providing for our love ones who depends on us. It simply gives us the peace of mind thus ease the emotional aspect and let us concentrate looking for a new career without the much pressure.

Now, you might be wondering where to do and where to start with your financial plan.

One thing I can suggest is to get in touch with financial experts that can help you develop a safe and sound personalize financial plan that would work for your needs and life goals.

Panimula ng Pagpaplanong Pinansyal

Ang mga Pilipino ay sadyang masisikap at masisipag. Ito ay ilan lamang sa mga katangiang nangingibabaw sa atin, aminin man natin o hindi. Sa bawat araw na ginawa ng Panginoon, pilit nating bumabangon upang kumayod para matustusan at maitaguyod natin ang mga pangunahing pangangailangan ng ating mga pamilya. Kadalasan pa nga, kahit mga mahihirap na trabaho ay sinusuong natin para lamang kumita at may maiabot sa mga mahal natin sa buhay. Hindi natin iniisip ang mga hirap na nararanasan natin o iniinda ang sakit ng katawan na dulot ng mga ito. Minsan pa nga, kahit mga trabahong hindi naman natin linya o pinag-aralan, pinapatulan natin dahil lang sa kagustuhan nating magkaroon ng trabaho kahit kapalit nito ay kararampot na sahod. Walong oras tayo sa trabaho. Minsan overtime pa. Maswerte na lamang kung sa overtime na iyon ay may ibibigay na bayad.


Hindi natin maikakaila ang katotohanang ito. Ang totoo, halos lahat ng Pilipino ay ganito ang sitwasyon sa kanilang trabaho. Ang sahod ng karamihan sa manggagawang Pilipino ay hindi katumbas ng bulto ng trabahong kanilang ginagawa sa araw-araw. Kung susumahin ang minimum wage na kanilang natatanggap sa bawat araw, kulang pang pambili ng pagkain at pambayad ng matrikula ng anak sa paaralan.Ito ay katotohanang kapag hindi nasolusyunan ay madadala hanggang tumanda ang isang indibidwal. Aminin man natin o hindi, karamihan sa ating mga Pilipino ay tumatanda na walang ipon, walang pension sa pagtanda at walang ari-ariang sapat upang maipamana sa ating mga sususnod na henerasyon.


Nakakalungkot mang isipin, ito ay nangyayari sa buhay nating mga Pilipino. Sa kagustuhan nating may maiuwi sa pamilya, kahit kakarampot lamang ay inuubos natin ang panahon sa kumpanya na ating pinagtratrabahuan. Resulta naman nito ay ang kawalan natin ng sapat na panahon upang gabayan ang ating mga anak sa kanilang paglaki. Minsan, dahil ang magulang ay subsob sa paghahanapbuhay, napapariwara naman ang mga anak na isa na namang sanga ng isang problema.


Ang kaugaliang pagsasakrispisyo para sa pamilya ay isang napakagandang kaugalian nating mga Pilipino na dapat laging isapuso at isagawa. Ngunit kung mayroon namang paraan pa kung saan may oportunidad na itaas ang kita nating pangpinansyal sa legal at makataong paraan na hindi naisasakrispisyo ang ating kalusugan, panahon at pamilya, hindi namang masama na subukan ito.


Sa mga naunang talatang natalakay, ipinapakita ang sitwasyon ng maraming Pilipino sa kanilang trabaho at kinikita. Nais nitong ipahiwatig na marami sa atin talaga ang hindi pa nabubuksan ang kaalamang pang pinansyal kaya hanggang sa panahong ito, marami pa rin ang nabubuhay sa kahirapan. Mayroon nga bang paraan upang masolusyunan ang suliraning ito? May pag-asa pa bang ang bawat indibidwal ay makamtan nya ang katagumpayan sa buhay at marating ang pangarap? May paraan ba na siya ay magkaroon ng kalayaang pangpinansyal sa bawat yugto ng kanyang buhay?


Mayroon. Una, dapat bukas ang isip at puso nating aralin ang mga paraan na dapat nating sa pagkakaroon ng kalayaang pangpinansyal. Makinig sa mga taong nagtagumpay sa aspetong ito. Magbasa ng mga aklat na may kinalaman dito. Ito ay makatutulong sa ating pag-unlad. Pangalawa, dapat alam nating magtabi ng ipon kahit pakonti-konti upang may maiipon at magamit sa mas malalaking proyekto o may gagamitin sa pagsisimula ng isang negosyo sa hinaharap. Ikatlo, dapat alam nating balansehin ang ating tulong sa pagtupad ng personal nating mga pangarap at pangarap ng mga mahal natin sa buhay. Kailangan alam natin ang limitasyon ng pagbibigay natin ng tulong sa mga mahal natin sa buhay. Hindi masama ang pagtulong ngunit kailangan mayroon pa ring maisantabi para sa sarili para sa bandang huli, kung may mangyari man, mayroon tayo ng huhugutin na gagamitin. Ikaapat, kailangan dapat mayroon tayong matibay na planong pangpinansyal. Ibig sabihin, inaalam nating mabuti ang mga mahahalagang bagay kung saan ilalaan ang pera natin. Ito ung sinasabing pag-uuna sa mga mahahalagang bagay bago ang mga bagay na wala naman talagang kabuluhan. Ikalima, dapat laging unahin ang Panginoon kahit sa pangpinansyal na aspeto ng ating buhay. Sa paraang ito, tyo ay pagpapalain ng Diyos.


Ang simula ng kaalamang pang pinansyal ay hindi mahirap makamtan. Kailangan lamang dito ang malakas na determinasyon at desisyon sa pag-aaral nito. Pagkatapos, isagawa ang mga kailangang gawin na base sa isang maayos na sistema ng paghahawak ng personal na kayamanan o pinanses. Laging isaisip na ito ay habang buhay na proseso at araw-araw na iniingatang inaaral at isinasagawa.