The Best Affordable Term Insurance in the Philippines
Angel Aurora
Updated On
February 2, 2024
Here are The Best Affordable Term Insurance in the Philippines

Term insurance is a great choice for individuals seeking protection on a limited budget. It is more affordable than other types of insurance because it only provides life insurance coverage and does not have any cash value or fund value. As a result, term insurance offers extensive protection at a low cost.the Best Affordable term insurances in the philippines essential;

What is Term Life Insurance?
Similar to other insurance plans, term insurance offers financial protection in the event that a household loses its primary income earner. However, the main difference is that this protection is only provided for a limited period of time. Term life insurance policies can be purchased for durations of 1 year, 5 years, 10 years, and so on. Typically, these policies can be renewed, but at a new and increased premium rate that reflects the insured’s attained age.

To learn more about what term insurance is and how it works, please watch this brief video.

Definitions You Must Know

Before we explore the topic in more detail, it’s important to become familiar with some common terms. These terms will be used throughout this post and can help you grasp the overall concept of term insurance.

Face Amount

This is used to calculate the amount of money that your beneficiary can receive as a death benefit or other benefits from the plan.

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