The first time that I was offered a life insurance, I also walked away at that time because I believed that I don't need life insurance. I'm still young and healthy and I have a work which provides me regular income. I didn't like life insurance because it will just add-up to my expense, its expensive and I won't benefit from it.

Sounds familiar? Maybe we have the same reasons why you also want to walk away from a life insurance agent. But looking back, the real reason is because I didn't understand the real purpose life insurance. People are afraid of things that they don't understand.

Let’s illustrate:
Let’s say you are the breadwinner of the family and you have a monthly income of Php25,000 (Php300,000 yearly). Because you love your family, you bought a life insurance with 3 million coverage.

In the event that something happens to you, your family will receive the Php 3 million. What will they do with the 3 million? Well it is up to them because you're no longer around. They could spend it all in few years, months or even days. However, if you teach them to save and invest that 3 million pesos, it could go a long way. If they invest the 3 million at an interest of 10% per year, your family will be receiving 300,000 as interest yearly without touching the principal.

Let me share with you about the most affordable life insurance that I know of. This is the Manila Banker’s Life Multiple Option Term Insurance 18 (M.O.S.T. 18). This is by far one of the most affordable pure term life insurance in the country right now.

For example:
At age 30, you can get 1 million Life Insurance for a price of Php 5,710 per annum or around Php 16 per day.

Manila Bankers Life is now under new management and is part of the growing companies affiliated with International Marketing Group. IMG acquired Manila Bankers Life because they want to deliver their promise to provide a more affordable yet higher insurance coverage to Filipinos.