“There may be many gifts under your Christmas tree this year…but the best one would be your family’s financial security.” – anonymous
‘Tis the time of the year for merrymaking and gift-giving. You may have probably started or is already finishing up your Christmas shopping. And while you’re at it, why not try something different for this year and start a new gift giving tradition in your family. Instead of giving your family members the latest gadgets or trendiest fashion stuff, you may want to consider insurance as a Christmas gift.
It may not be a popular choice, but insurance is a gift that never gets dated and offers several advantages that make it the best in the long run. In fact, it can turn out to be a gift that keeps on giving.
To ensure that the respective family of her 3 children are protected against life’s unexpected and uncertainties, Mrs F. Antonino would gift them with life insurance policy for Christmas. Her children have stable jobs but their income is just enough for their daily sustenance. But since her grandkids are still young, she wants to make sure that if anything happens to their parents, either due to health concerns or financial problems, she is able to help protect their financial future through life insurance. “I want to make sure that my grandchildren will continue to live in their house, finish their education and have a comfortable life no matter what happens along the way”, she said. We cannot predict the future or control our destiny, but we can help our family build a financial cushion for the future and prepare for life’s unexpected events.
Compared to the cost of the latest gadgets, life insurance premiums can turn out to be more affordable. As the son of Mr S. Castro was still young and healthy, the premium was still low. “I first bought him a term insurance because that’s what I can only afford back then. I just made sure that his young family will have the financial resources to fall back on in case an unexpected death happens. When my income improved, I converted it to a whole life policy which my wife and I gave as our Christmas gift to his family in 2023. The difference in the premium is still affordable compared to the benefits it provides. It’s still value for money”, said Mr Castro. One need not start immediately with big coverage and premiums. Get an insurance plan that suits your budget. Just add or increase coverage later on as your salary improves. What’s important is to start with something now.
Part of the asset creation and accumulation strategy of the Sandoval couple is gifting each other with insurance plans that build up equity via a hefty cash value over time. It’s another form in their savings and investment portfolio. Instead of buying each other luxury items as Christmas gifts, they made a smart decision to invest in insurance. By the time they retired, some 5 years ago, they have between the two of them a total of 32 policies, most of which are endowment plans. Aside from the financial security they provide in case of emergencies, these policies have become part of their assets with time. They have used portions of the maturity benefits to fund the college education of their two kids and their family vacations. Starting next year, one of their policies will be providing them monthly retirement fund for the next 10 years. Insurance policies have evolved through time. No one has to die for the benefits to kick in. You can purchase your insurance and enjoy it too.
But what one is getting from an insurance policy is not just a piece of paper but peace of mind for the family members, knowing that their lives won’t be in total mess should they experience financial setbacks due to illness, accident, job loss or death. During the pandemic, when most parents were worried about funding the education of their kids, Mrs K Mendoza was just thankful that her parents gifted her kids with educational plans that she was able to cash in to pay the tuition fees. She went through the pandemic with the peace of mind that her daughters’ education were secured. No other material gifts can provide the kind of peace of mind a life insurance policy does. One that will allow you to sleep sound at night knowing that your family will be taken care of even if you have been taken out of the picture.
If they have not experienced it in the past, I bet this will be the most unique Christmas gift your loved ones will receive this year. While this gift may be unusual, it is very practical and will be deeply appreciated by your family members, especially those who still cannot afford to buy it for themselves. Your gesture and gift simply show that you care about them and want to make their lives as easy and comfortable as possible, in case of life’s twists and turns. After some time, we usually lose interest in the gits we received. Life insurance is one thing that will never be forgotten.
If you are now convinced of getting life insurance as a Christmas gift, I suggest you contact your insurance advisor who can help you find the best coverage based on your needs and your budget.
As they say, the best things come in small packages. Wrap up that gift that can be enjoyed by the whole family and will keep giving even beyond this Christmas season. It will be the most precious gift under your Christmas tree. Never too late to start this tradition.
