OFW traveler with luggage for insurance investment

Insurance or Investment? Why OFWs Should Choose BOTH for A Long-Term Savings Plan

Overseas Filipino Workers (OFWs) are some of the bravest and most hardworking people in the world. They endure many difficulties and sacrifices as they provide income for their families back in the Philippines - yet they often do so without protections like life insurance or investment into their financial futures.

Fears of financial strain tend to dissuade OFWs from purchasing premium insurance and investment plans for themselves. However, with a whopping 1.96 million Filipinos providing labor and employment all around the world, it should stand to reason that these millions of workers deserve high-quality protections for themselves and their loved ones, too.

OFWs need to seek investment opportunities and deserve to have the best versions of these opportunities available to them as well. If you have access to information that allows you to invest in long-term policies, you get a chance to safeguard yourself and your family against tough financial circumstances, like accidents, injuries, and even death.

It’s incredibly important to equip yourself with the information you need to plan your family’s financial future amidst uncertainty. By understanding the ins and outs of insurance with investment, you’ll get to accumulate wealth early on, protect your loved ones throughout your life, and ensure your beneficiaries’ total financial security in the long run.

Ready to learn about your opportunities for excellent investments and insurance with Pru Life UK? Take a look at this handy guide to discover everything you need to know.

Misconceptions about investment-linked insurance

This comprehensive guide aims to dispel some of the misconceptions around investment-linked insurance to equip you with helpful options for financial growth and life protection. Since you work hard to provide a good living for your loved ones back home, you also deserve access to resources that teach you more about these kinds of wonderful opportunities.

Here are some of the misconceptions to dispel and gaps in knowledge to fill, surrounding investment-linked life insurance in the Philippines:

Insurance and investment are the same. The former is a policy that you purchase to safeguard yourself or your family against some form of risk or loss, like accidents, disability, or death. The latter is an amount of money or assets you allocate to generate income, profit, or gains over a set period.
Insurance is unnecessary for OFWs. OFWs experience many risks while working abroad, so you must invest in products that protect you and your beneficiaries’ interests and financial needs.
It’s way too expensive. With several smaller payments that can be done over multiple years, you can easily spread out your overall expenses so that purchasing a policy won’t be too heavy on your wallet.
“Covered ako ng employer ko, ‘di ko kailangan ‘to.” You’re only insured for as long as you work at your current company. Para sa benepisyo ng insurance sa’yong financial o health protection needs, you should still have your own plans and policies.
Investing is only for the wealthy. Simply put, this isn’t the case; investing is for everyone, and saving up in this way can help you build wealth and invest to retire
Committing to these types of products is risky. It’s only risky to commit to these types of products if you don’t know what you’re getting yourself into. That’s why guides like this exist - to provide you with the information you need to make informed decisions surrounding your long-term financial goals.

Now that you’ve dispelled these misconceptions and filled in your gaps in knowledge, it’s time for you to tackle the next big thing: the plans and policies available to OFWs like you right now. Check out this next section for a complete list of these excellent products and services.

Combining insurance with an investment plan

By combining both life insurance and investment in your finances, you know what you save as you protect yourself and your loved ones against risk. Discover plans that’ll provide you with both long-term protections and wealth accumulation by checking out these unique, flexible, and affordable offerings from Pru Life UK:

Family protection
If you’re looking for a plan that’ll ensure the financial security of your dearest loved ones, then consider exploring these family protection options:

PRUMax Invest - This reliable term life plan can secure your protection against accidents, disability, critical illness, and death, with a coverage duration of up to 15 years. It provides the best of both worlds for traditional policy and wealth-building products..
PRULink Assurance Account Plus - This next policy offers the unique benefit of monetary growth alongside its protections against accidents, disability, critical illness, and death. With a coverage duration of up to 100 years of age, you can easily earn living and death benefits all throughout, to properly ensure your fiscal security and peace of mind.

Medium to long-term goals
Want a more manageable and flexible plan that matches your medium to long-term goals? Here are some of the best options for your needs:

PRULink Elite Protector Series - Looking for greater potential for wealth accumulation? This policy has got you covered. With multiple options for monetary growth alongside maximum coverage, you can set manageable and attainable monetary goals that’ll last throughout your whole life.

Wealth accumulation
By accumulating wealth, you can help yourself and your loved ones achieve long-term livelihood goals. Here are some excellent policies that’ll help you reach those exact objectives:

PRULink Investor Account Plus - A single-pay plan, this product offers ease of availing through its one-time payment option. It also grants greater potential for financial returns, through its high-quality roster of expertly managed funds. If you’re interested in regular payouts throughout the year, ask your financial adviser about our Cash Flow Fund plans to support your policy.
PRUMillionaire - This last option on the list offers both life coverage and better value for your investment, through its superior selection of funds. With a significantly lowered initial charge of 0.5%, you can gain greater returns, receive regular quarterly payouts, and grow your finances successfully.

Insurance and investment should work hand in hand to help you achieve comprehensive monetary goals, while also protecting you and your loved ones’ quality of living. Since these objectives are all common desires for OFWs like you, it stands to reason that you’d want a policy to help you achieve these important ambitions. Read on to discover how you can get a good financial securities product that’ll help you achieve your many personal goals.

Getting good investments in the Philippines for OFWs

Want to get a great financial securities product that’ll help you protect yourself and your family, as an OFW? One of the best ways to do this is to proactively assess your monetary goals and consult with an expert advisor from Pru Life UK.

By assessing your fiscal goals early on, you can articulate your plans in a way that will help you find the perfect policy for your unique needs. Consulting an expertly trained agent from a service provider like Pru Life UK will help you craft a tailor-fit strategy that can be constantly monitored and adjusted accordingly.

As an OFW and a modern-day hero of the Philippines, you deserve the best policies possible to safeguard you and your loved ones throughout your entire lives. For plans that protect your interests and grow your wealth, remember to work with the professionals at Pru Life UK.

To learn more about the options available for OFWs, get in touch with a Pru Life UK agent today on Facebook, Twitter, or LinkedIn. You can also contact us via email at contact.us@prulifeuk.com.ph, or on the official Pru Life UK website.