Im 35 this month, single, and will probably remain so. I don't have dependents and i'm fixing my finances. I have mutual funds and some savings, but I know it's not enough. Currently, im paying off my card and personal loans with the target to finish them next year.
Do I need to get an insurance? Why and what kind? Thanks.
Im not an expert pro ito ang suggestion ko, pay all your debt first, this will lighten things up. then establish an emergency fund equivalent to your monthly expenditure for six to twelve months. now if no one is dependent in your income better yet get a term insurance for capital protection and also continue investing sa MF, try UITF & T-bills and also ETF. on your case meron ka ng investment, kulang na lang ay palaguin mo pa ang basket of goods na meron ka. spread the risk ika nga.
i have this question on term insurances, for example you are 22 YO when you availed the 20 years term insurance (mag expire at age 42) at excluded ka sa medical examination during that time. pero pag dating mo ng 42 at gusto mo i-renew ang product, do you have undergo the process of medical examination given na nakuha mo yun 20 years ago at exempted ka sa medical? Underwriters please enlighten me. Thanks.