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Should age stop you from getting insurance? Finance executive answers |

The Budgetarian

Should age stop you from getting insurance? Finance executive answers

Kathleen A. Llemit -
Should age stop you from getting insurance? Finance executive answers
Age is relative when one chooses to avail of an insurance policy.
Alexa via Pixabay

MANILA, Philippines — One question that those in their 30s and older have is whether they should get insured at a relatively late stage. 

With the uncertainties caused by the pandemic, many people have been seeking ways to grow and secure their finances. Paying for insurance, for starters, is among the options. 

While it may be a factor in doing so, age is not necessarily an issue, said Carla Gonzalez-Chong, Sun Life chief client experience and marketing officer. 

"I would say it's never too late," she said. "Why do we advocate people to get their insurance early? The reason for that is the premiums are lower or more affordable when you're younger. Now, it doesnt mean that you cannot be covered with insurance when you're in your mid-30s." 

Gonzalez-Chong shared that in their company, they have policy owners who started to get insurance in their 50s and 60s, primarily for their loved ones or for their retirement. 

"So there's really not an optimal age to get it," she said. 

She added there are different types of policies that cater to the holder's age and budget. One can just consult a reliable financial advisor. 

Actor and Sun Life ambassador Piolo Pascual attested to the power of being prepared and financially disciplined and stable as one starts to earn money. 

He has been an ambassador for the company for more than 15 years and, over time, has bought a number of policies that suit his and his family's needs. 

"It's really impt to know what we do with what we have. You gotta be smart with your money. You gotta be smart with your savings, earnings, and it's important to take control of that," he advised. 

RELATED: 'Ikaw na beneficiary ko': Ben&Ben on caring for family, loved ones

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