Life Insurance

Our Pastor does not believe in taking up Life Insurance.  He says the Jesus is our insurance, there is no need for anything else.  True, I am also convinced. Specially if you are in the Family of God.  Our Pastor's wife died from Brain Tumor last year.  Without insurance, the bills were hard to pay for.  But because of outpouring of love from the church members and other believers, everything was paid for.  Even the daily and redious care that she needed was lovingly provided by members.  God was really working.

In the past month, news of friends and acquantances being hit by terminal/critical illnesses have rocked me.  Our American support Engineer who was in Singapore suffered a stroke and half of his body was numb.  He had to be hospitalized for therapy and medication for 1 month.  The father of my daughter's classmate was diagnosed with Cancer, doctor gave him 1 year.  Praise God he is still surviving but the wife told me that she had to quit her job to take care of him.  Good news I hears is that he was baptized last December =)  2 friends of my dear hubby just shared that they have diabetes.

Looking at our savings, it won't be enough to pay for hospital bill just in case I also suffer a stroke. (Our Engineer's bill was S$57,000)

I got a call from a Filipina offering insurance.  So I agreed to meet her.  Unfortunately, she offered those investment linked insurance.  Good thing, I had done previous researches.  It is not adviced to get investment linked insurances, the best is to get term insurance.  I called my trusted agent to advise me and then signed up with them.

The meeting with the insurance agent has brought so much light into me and hubby's (poor) planning.  Hubby is much older than me, so his insurance premiums are now so high.  It's not too late for me but would have been better if I started earlier.  We took insurance for Death, Terminal Illness and Terminal Disability till we reach 65 yo.  Why not whole life? At age 65 and above, our kids will be independent and hopefully love us and will look after us.  If I get cancer after 65, I won't burden my kids to spend on expensive treatments...I'll just enjoy the last moments I have with them and gladly meet my creator.  But I'd love to be able to care for my grandchildren too...

A friend once told me that as we are earning our wage on earth, we should be good stewards.  God has entrusted us with financial blessing, I see that taking up insurance can be measured as stewardship.  As the agent also stressed, getting insurance is one way of loving your family.  If in case someone's life is terminanted prematurely, those left behind will not be so burdened.

If I do not die early, if I do not get terminal illness, if I do not become disabled...the premiums paid for my next 31 years is not that much.  In fact, the monthly premium is just one restaurant bill.  Kakain nalang ako ng nilagang kangkong, magiging healthy pa ako.

Some things I learned, get insurance as early as you can, the premiums will be lower.  Pre-existing conditions will not be covered by insurance.  So do not go for medical screenings (as long as it can be delayed) if you don't have insurance.  Insurance companies will surely find those medical records and in the end will not pay you.  I have records all over the place about issues on my ovaries... on my entry to SG, I honestly declared that I've had surgeries before, it took time to get it cleared and for me to get basic insurance.  These records plus the findings during my pregnancy check ups surely takes out my chance for insurance over reproductive related illnesses.  Well, I'm still covered for stroke and diabetes =)

I don't want to get sick, I don't want to get the sum assured.  I just want to have peace of mind.