There are many things that we spend on today, but few can truly be as worthwhile in the long term as life insurance. Depending on the provider and the terms, you can have something to fall back on in case of unforeseen events. According to Manulife Philippines, an established life insurance company, an even better option is a life insurance policy with investment options. Here are three advantages of getting this type of combination investment.
Protection
The first advantage is the most obvious: this type of program still offers the same comprehensive coverage offered by standard life insurance. In many cases, however, this is far more competitive with what is offered. Usually, this type of policy will have a lower age cap, more conditions covered, and occasionally, a few bonuses. This is somewhat better than what freestanding life insurance policies have on offer.
Earnings
What makes this type of package different is that it comes with a financial investment that you can customize. This means that you can opt for a low risk investment that doesn’t earn you much but also risks little. It offers much higher interest rate than bonds. You can also opt for higher risk investments that potentially give higher payoffs but at a bigger risk than others. Either way, you earn with your investment.
Stability
Finally, the best thing about life insurance with investment is that the provider has a long-standing reputation of financial stability. This is because they tend to be more proactive in building their business through the money put in them. The provider would also have access to the best investment managers. These are certainly things that makes investing your money a wise step for the long term.
The next time you get your paycheck, consider getting this two for one product. It provides you protection and a good start towards financial stability.