Here’s what you need to know about life insurance in the Philippines

Do you want to improve your financial life this coming 2021? Great! A lot of people struggle so much and are so oblivious when it comes to financing. We’ll guide you on how to handle and secure your money correctly!

Many people don’t have the word “insurance” in their vocabulary and find it boring. But as you get older, you’ll start to appreciate the beauty of life insurance more and more. 

So what is life insurance?

Life insurance is a contract between the client and the company. The client will pay the life insurance company a monthly fee in return for a more significant amount of money when the client dies or a critical event occurs as agreed in the contract. To summarize, it’s basically a financial security for you and your family, especially if you’re the breadwinner. 

These days, the popular type of life insurance is called VUL or variable life insurance. It has an insurance + investment component. The insurance part is your protection, while the investment can serve as your savings or retirement fund. Keep in mind though that when investing, the projection must always be long-term. The investment benefits are usually felt in a couple of years, so be prepared to invest in, long term.

When do you start investing in life insurance?

The best time to start investing in life insurance is at a young age or as early as possible. The earlier you start, the more time you have to build your wealth and savings, and hence you become more financially secure in the long run. You don’t need to force yourself to get life insurance once you get a job for the first time. You can do so in your late 20s or you can get one when you already have a stable income.

Keep in mind that some life insurance companies charge higher monthly fees to those of older age. The older you are, the shorter the time you have to live and pay your insurance company. But if you start younger, you’re more likely to have a more reasonably bargained insurance contract. Your youth is your advantage in investing in life insurance. 

What to look for when choosing your insurance provider

The first and most crucial step is finding out if your provider is approved by the Insurance Commission in your country and if it has a good reputation and reviews. Do your research, ask your family and friends about their experiences with their life insurance providers. Look for a provider that has a fast, easy, and convenient system to use. So being able to communicate easily with an insurance agent is necessary. 

The second step is to look at the financial strength/status of your desired insurance company you want to invest in. As for me, I am with PruLife UK, and it has a solid track record in the Philippines, so you need not worry. In fact PruLife is the number 1 insurance company in the Philippines in 2020. 

Which life insurance do you need to invest in?

There are three types of life insurance: Term life insurance, whole life insurance, and endowment.

Term life insurance is limited to a fixed number of years. It’s usually the most affordable among the three, and it’s the most basic type of life insurance. However, you won’t get any added benefits or investment returns with this type of life insurance.

Whole life insurance provides coverage for the insured and covers the investor until they pass away. There’s no limit for this type of insurance, and you will receive cash benefits and dividends. It may be more expensive than life term insurance, but that means the investments are better! This is best for investors who intend to secure their children’s future.

Endowment has both the features of term life and whole life. It has a term limit but will provide death benefits when you die after the term limit. This can be used for retirement plans, college funds, future hospital bills, and many more. 

Do you want to talk to a financial advisor? I give free financial planning and consultation online. It’s safe and secured, so you need not worry. You can also email at or text at 09171642324. See you!

Iza Calzado on Why People Stay in Toxic Relationships: ‘It is a question of your self-worth’

Is it the love? Or is it the drama?

This article was originally published here.

by Ysa Singson for|

If you’ve ever been in love, you know how consuming it can feel like—especially when it’s a new relationship. And even more so when it’s a toxic one. In a new recent of Paano Ba ‘ToBianca Gonzalez asked Iza Calzado for her opinion on why some people decide to stay in “bad” or “toxic” relationships. 

“It is a question of your self-worth,” the actress said. Iza shared that she’s been in a “bad” relationship and she’s been the bad one ’cause “tao lang tayo, ‘di ba?” She said that the more toxic it was, the more attached she became. It felt like a “challenge” at some point because she was eager to prove people wrong when they were noticing the red flags. 

Now she’s able to ask herself, “What was I attached to? Was I attached to the love, really? Or was I attached to the drama? You have to figure that out for yourself. For me, that drama was familiar. That is what I grew up with. There was drama in our home.”

Iza continued, “It made me feel alive. It made me feel good. And even during the painful moments, I was so alive, and siguro that’s the artist in me.” She and Bianca also touch on the idea of someone else filling a void in your heart (Read: “You complete me”). 

Romantic as it may seem, it’s a dangerous way to approach love because you shouldn’t look to other people to feel whole. Bianca brought up the fact that the content we consume plays a role in the way we view love. For example, many of the movies and teleseryes we enjoy have characters who “change” once they fall for someone. This convinces people that they can change someone-like a player-for the better. 

So what are some signs that love isn’t enough to sustain your relationship?

Iza quickly replied, “Lagi kang umiiyak.” This usually means the cons outweigh the pros. You have to ask yourself: Why am I staying? Am I still happy? What makes me happy?

For Bianca, one of the clearest signs is if you are not being listened to: “In a relationship, both of you have a voice. And if it comes to the point na feeling mo wala ka ng boses, sign na ‘yun.” Another one is that both of “you have to be committed to growing individually and together. And if you feel your partner does not support you in either of those, mahirap.”

Hear more from Iza Calzado in this episode of Paano Ba ‘To with Bianca Gonzalez:

Why You Shouldn’t Hide Money, Purchases from Your Significant Other

This post was initially published here.

You may have already heard family or friends saying “Huwag sasabihin kay misis/mister” when it comes to buying expensive items or indulging in hobbies. While this is often said in jest (since many couples actually discuss money honestly), there are people who keep purchases—and in extension, finances—from their partners. It is a habit that hurts relationships, as it shakes the foundations of trust.

This is called “financial infidelity.” Medium journalist Kristin Wong writes, “Keeping financial secrets is an abuse of the trust the relationship is built on,” and it’s true—if you can’t trust your partner to level with you when it comes finances, how can you trust him or her with anything else?

Most people who hide purchases and accounts from their significant others often already have deep-seated relationship issues. A Huffington Post article features several reasons, including not trusting one party to handle money, or thinking that the relationship won’t last and they need cash to fall back on, or even not wanting the other to know that they’ve incurred a huge debt for fear that they’ll leave.

“In essence, a healthy relationship generally supports a fully transparent relationship between partners,” clinical psychologist Carla Marie Manly tells Huffington Post. “If a relationship is built on a strong foundation of mutual trust and respect, there is generally no need to ever hide money or finances.”

How to deal with finances as a couple

There’s no clear-cut rule on how to manage finances as a couple, especially if you’re already in a long-term relationship, are living together, or are married. There are those who put in their savings in just one bank account and pull expenses from there, while others go for separate accounts that they can use as they please while having a common one they pitch into for household payables.

It’s really about what works for you, but the most important thing is that you’re both on the same page. If you or your partner feel the need to hide your finances from each other, then that means that you’re not, and that there’s an issue that needs to be addressed. Kristin Wong goes on to write, “Financially speaking, if you’re sharing a life together, you should be sharing money in some way, too—if not in joint accounts, then by being transparent about how much each of you has and working together to tackle expenses.”

When is it okay to hide your finances from your partner?

All of that being said, there’s one extreme case when it’s okay to hide money from your partner, and that’s when in you’re in an abusive relationship. In fact, it’s a must that you hide your resources from abusers, as they tend to manipulate and gaslight you into thinking that you can’t live without them. Having money of your own can help you escape this situation and start anew.

Bottomline: Honesty

Remember that the basis of a good relationship is trust, and as much as possible, money should never be something that should put a chip between the two of you. Open communication is key to finding a system that works for you both; one that doesn’t leave any party feeling as if he or she is getting the short end of the stick. Allow each other financial freedom, because in the end, money is just a tool—it shouldn’t be at the forefront of your companionship.

How This Teacher Saved P106k in a Year With Her Ipon Challenge

This post was originally published here.

Having a “financial management system” is key.

Let’s face it. Although most of us have been working from home for the past year, it’s still hard to get through a month without depleting our suweldo

It’s no wonder Cathlyn Mariano, a 27-year-old public school teacher, got netizens saying “sana all” when she uploaded a Facebook post about her savings amounting to P106,155 that she completed in just one year. 

Cathlyn, or Cath to her friends, achieved it through anipon challenge that she carried through beginning January 2020 up until January this year. 

In an interview with Female Network, Cath revealed that her initial target was only P60,000, which she would accumulate by stashing 50 pieces of 20-peso, 50-peso, and 100-peso bills, as well as 45 pieces of 200’s, 35 of 500’s, and 25 of 1,000’s inside her pink piggy bank. 

Noong una talaga, P60,000 lang ang target amount ko sa ipon chart na ginawa ko. Pero tinuloy-tuloy ko lang siya at umabot siya ng P106,155 sa loob ng one year,” Cath said. “Gumawa po ako ng ipon challenge chart wherein I will earn P60,000 if I complete the challenge.” 

The Nueva Ecija-based iponarya understands, taking on anipon challenge (or saving in general) may seem difficult. So, she shared other tried-and-tested tips on doing it with ease. 

Tip #1: Teach yourself about money 

While being financially literate is not a pre-requisite to saving up, educating yourself even on the basics would put you on right track. Cath said it matters, especially for people like her who used to struggle financially.   

Gusto ko talaga magkaroon ng sariling bank account na ang pera ay galing sa pinaghirapan ko. Ayoko na maranasan ‘yung hirap ng buhay ng pamilya ko noon na kailangan pang mangutang pang-tuition at baon,” she revealed to Female Network.  

Cath then began beefing up her knowledge with tips from financial experts like Chinkee Tan and “Facebook groups ng mga iponaryo.” She continued, “‘Yung learnings from the books of Coach Chinkee Tan inspired me a lot para magiponAng daming learnings doon na nai-apply ko sa buhay ko at naging financially responsible ako na dati hindi ko nagagawa.” 

Tip #2: Allocate a specific amount for your savings  

The first thing that Cath does upon receiving her salary is to write down a budget list. Having a “financial management system” is important “para ‘di ka nagtataka kung saan ba napunta ang pera mo,” she said. 

For that, she follows the formula “salary-savings=expenses” wherein her savings amounts to 10% of her salary. “Binubukod ko na ‘yun at hindi ko siya dapat gastusin. P1,500 lang ‘yun monthly na diretso na sa alkansya,” she said. 

After that, Cath splits up the remaining amount between her parents’ allowance and other expenses, then puts the cash inside a “budget wallet organizer.” 

Kung may matitira pang pera bago ang payday, ise-save ko pa din,” she added.  

Tip #3: Live within your means  

All goals require sacrifice and for Cath, that means prioritizing her necessities over luxuries. “Dapat alam mo ang pinagkaiba sa kailangan mo at gusto mo lang. Unahin ang mga needs over wants. Isantabi ang mga bagay na kaya mo naman mabuhay kahit wala ‘yun kasiluho now, luha later,” she wrote on her Facebook post on January 2, 2020.  

This involves fighting the urge to splurge on a new gadget or “adding to cart” again and again whenever there’s a sale online. Cath explained, “‘Di bali nang walang iPhone basta may ipon. Hindi ako nagu-upgrade ng cellphone basta nakaka-text, nakaka-call, nakaka-FB, at nakaka-selfie. Iwasan mo din ‘yung mga dobledobleng number tulad ng 11:11 at 12:12. Learn to live within your means.” 

Cath also lessened her daily expenses by choosing home-cooked meals over fast food and driving to school with her own electric bike instead of taking public transportation. 

Isang taon akong nagbabaon ng lunch saschool kung ano ulam sa bahay, ‘yun din ang ulam ko. Free ang meryenda saschool pagteaching staff kaya less gastos,” she said on her post. “Bumili din ako ng school service na e-bike at nakakatipid ako ng P1,500 a month sa pamasahe. I-charge ko lang ng eight hours, nagagamit ko na siya ng one and a half week tapos P200 lang ang approximate na konsumo niya sa kuryente sa loob ng isang buwan. O ‘di ba, bongga. Bawi ko na ang pinambili sa laki ng natipid ko.” 

Tip #4: Be a wise spender 

While Cath made it a point to spend only on things that she needs, the iponarya also knows the value of treating yourself to little luxuries.  

Hindi ako maluho na tao. Inuuna ko muna ‘yung mga needs bago ang wants, simpleng pamumuhay, pero syempre, hindi ko kinakalimutan i-treat at bigyan ng reward ang sarili ko big or small accomplishment man ang nagagawa ko,” she told Female Network.  

The key, she said, is to do it in limitation. “Just be a kuripot (wise spender) dahil ang pera mo ay hindi pinupulot at syempre,  kapag wala kang bisyo, sigurado ang inyong pag-asenso,” she added. 

Tip #5: Find other sources of income 

Some people would think that stretching one’s paycheck beyond ‘petsa de piligro’ is close to impossible, more so saving up. The answer to that, according to Cath, is finding other sources of income.  

In addition to her salary, the money-smart teacher drew her savings from several side jobs: “May e-loading business ako, printing services sa bahayat nago-online selling din ako ng pre-loved clothes namin ng hipag ko ‘pag may free time ako. Nag-invest din ako safruits business ng sister-in-law ko na kumikita naman kahit paano.” 

Although engaging in all these tasks may require you to modify a thing or two about yourself, Cath assured that it will all be worth it.  

Inalis ko ang pagiging mahiyain dahil nahihiya ako noon mag-online selling. Nagingflexible ako at nagkaroon ng time managementsa work at sa mgaextra sideline ko. Kailangan lang talaga ng dedication para mareach yung ipon goal mo,” she said. 

Other popular ipon challenges 

Aside from Cath’s P60,000 ipon challenge, another easy way to start your savings is through the “Invisible 50 challenge” wherein you put away every 50-peso bill that you get in a day inside your coin bank for a year. 

If your budget is tight, you can opt for the “Loose coin challenge.” Similar to the “Invisible P50,” this would require you to set aside every coin that you have—no matter if it’s P1, P5, or P10—for your savings. 

Another would be the “52-week ipon challenge” that works by increasing your weekly input in a span of 52 weeks. If you saved P50 for this week, you must shove P100 into your piggy bank the following week, and so on. 

What’s important, as Cath said, is to turn saving into a habit. “Keep on saving. It doesn’t matter how much. Just save kahit piso-piso pa ‘yan kasi walang1 million kung walang piso,” she advised. “Tiwala lang sa sarili na magagawa mo dahil if others can do it, you can do it also.”