Newly grad? Start investing in your future

MANILA, Philippines - One of the more daunting tasks of being an adult fresh out of college is realizing that things don’t always work out for the best.

There will be problems on finance and security, accidents, injuries and disasters and the unwelcome but inevitable loss of loved ones; all of which can affect one’s hard earned salary and savings.

“This is where insurance comes in.  A lot of people think that insurance is only for the old.  What they don’t know is that you get more returns being protected at a young age because the benefits are flexible and premiums are lower for young people,” says Geraldine Desiderio-Garcia, senior vice president and general manager, Country Bankers Insurance Group (CBIG).

“While no one knows what the future holds, young people who have just started working should acquire policies that are appropriate and necessary for them.  Low premium payments do not necessarily mean low returns in terms of protection.  Young professionals should be discerning in choosing the right insurance for them,” adds Garcia.

Operating for over 50 years now, CBIG offers clients a wide array of life and nonlife insurance plans that guarantee stability and security; as well as, protection of businesses, properties and assets.  CBIG has two subsidiaries: Country Bankers Life Insurance Corp. (CBLIC) the life insurance company and its nonlife insurance counterpart, Country Bankers Insurance Corp. (CBIC).

Insurance that offers flexible financial benefits is most appropriate for young folks.  For example, CBLIC’s Classic Benefit Plan, a whole life insurance, offers limited paying periods of three, five, seven and 10 years, for a lifetime of protection.  Premium payments can either be treated as forced savings or emergency fund, as this plan earns cash values that may be used as living benefits.

Having insurance helps one get out of financial trouble resulting from unforeseen events in life.  There are several insurance choices available in the market.  New graduates with new careers must think wisely about spending their salaries.  It is wise to set aside a portion of one’s income for security and protection.

“What young people need to realize is that getting old is inevitable.  And the older a person gets, the more protection he would need, not to mention the higher his insurance premium will be.  Young graduates are encouraged to start accumulating insurance policies as soon as they start earning money,” says  Garcia.