Resuming Insurance Payment
I got a pension plan from one of the insurance companies here in the Philippines. But sad to say, I stop paying the premiums years ago. Actually, I just got one because the company I worked for paid part of the premium as it’s one of employee benefits. When I transferred to another company, I stopped payment the premium. Last year, I received a letter with a cheque from the insurance company returning some of the money paid for it. My agent called me after to ask if I still want to continue paying the premiums. I said I’m still undecided but my sister said I should continue. She got one from the same company and has finished paying for the premiums already. She’s now waiting for the return of premium life insurance the she got.
Actually, what made me decide to stop paying for it is because I have to pay for the premiums for 15 years. It’s quite long for me and the agent said it can’t be reduced to 10 years as what I’ve been asking. Anyway, it’s my fault that I got it even if the term was long at that time, teehee. Now, I’m not sure if I’ll continue paying for it or just look for other investments.
Tags: life insurance, pension plan
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