WHAT IS LIFE INSURANCE?

 It is a contract between an insurance policyholder and an

insurance company, where the insurer promises to pay
sum of money in exchange for a premium, upon the death
of an insured person or after a set period.
WHY DO WE NEED LIFE
INSURANCE?
TYPES OF LIFE INSURANCE
 ENDOWMENT
 TERM
 WHOLE LIFE
 VARIABLE UNIVERSAL LIFE (VUL)
ENDOWMENT
It grants a lump sum after a specified amount of time or
upon death. The policy owner is required to pay the
premium for a predetermined number of year or until a
specific age reached.
TERM
 It is the simplest form of life insurance to obtain, of year
or until a specific age reached.
 Example:
 Sun life Assure
 5 years renewable term
 Age limit 70 year old
 WHOLE LIFE
 It provides coverage for the policyholder’s entire life until
they reach 100 years old. It acts both as protection and
saving mechanismss since a portion of the premium is
allocated to build up cash value.
VARIABLE UNIVERSAL LIFE (VUL)
 It serves as both life protection and investment vehicle
in one package.
 3 in 1 plan, insurance, investment and savings.
 Example:
WHAT IS FINANCIAL STABILITY?
10 STRATEGIES REACHING
FINANCIAL STABILITY
 1. MAKE SAVING AUTOMAGICAL.
 2. CONTROL YOUR IMPLUSIVE SPENDING
 3. EVALUATE YOUR EXPENSES AND LIVING FRUGALLY
 4. INVEST IN YOUR FUTURE
 5. KEEP YOUR FAMILY SECURE
 6. ELIMINATE AND AVOID DEBT
 7. USE THE ENVELOPE SYSTEM
 8. PAY BILLS IMMEDIATELY
 9. READ ABOUT PERSONAL FINANCES
 10. LOOL TO THE GROWTH YOUR NET GROWTH

 SIGN OF BEING FINANCIALLY STABLE

 ROSE (2019)
 1. YOU NEVER OVERDRAW YOUR CHECKING ACCOUNT.
 2. YOU DON’T LOSE SLEEP OVER FINANCES
 3. YOU USE CREDIT CARDS FOR CONVENIENCE AND
REWARDS BUT NEVER OUT NECESSITY.
 4. YOU DON’T WORRY ABOUT LOSING JOB.
 5. YOU PAY YOUR BILLS AHEAD OF TIME.
 6. PEOPLE ASK YOUR OPINION ABOUT FINANCIAL
MATTERS AND YOU INSPIRE THEM.
 7. YOU’RE GENERALLY HAPPY WITH YOUR FINANCIAL
SITUATION.
 8. YOU FINANCE YOUR CARS OVER FIVE YEARS OR LESSS
IF YOU TAKE LOANS AT ALL.
 9. YOU CONTRIBUTE MORE TO YOUR RETIREMENT.
 10. YOU DON’T FEEL GUILTY WHEN YOU’RE OUT FOR
SPECIAL OCCASSIONS.
 11. YOU CAN AFFFORD TO BUY THE THINGS YOU REALLY
WANT.
 12. RECREACTIONAL SPENDING DOESN’T APPEAL TO YOU.
 13. YOU’RE A NATURAL SAVER.
 14. YOU’RE GENEROUS WITH MONEY WHEN IT COMES TO
CHARITIES OR HELPING OTHERS.
 15. YOU’RE CONFIDENT ABOUT YOUR FUTURE.
 16. YOUR NET WORTH GROWS SIGNIFICANTLY FROM YEAR
TO YEAR.
 17. YOU HAVE SUBSTANTIAL EQUITY IN YOUR HOME.
 18. YOU CONSISTENTLY LIVE BENEATH YOUR MEANS.
 19. YOU COULD SURVIVE FOR MONTHS WITHOUT
PAYCHECK.
 20. YOU FEEL IN CONTROL OF YOUR FINANCE AND NEVER
DOMINANTED BY THEM.
WHAT WAS THE IMPORTANCE
OF INTEGRATING FINANCIAL
LITERACY INTO THE
CURRICULUM?
THANK YOUUUUU!