First step to getting insured? Stay away from 'tsismis'

Pru Life UK

Posted at Jul 20 2018 05:05 PM

Getting an insurance policy is one of the wisest financial decisions anyone can make, but why do many Filipinos remain uninsured? 

It's because they listen to "tsismis".

The practice of sharing "tsismis" or gossip is deeply embedded in the Filipino culture. Social scientists have noted that Filipinos tend to believe stories or advice from people they know rather than experts who are strangers, because they trust their peers.

In a study conducted by Vida Aurora B. Llevares of University of Cebu, it was found that the primary sources of "tsismis" are one's relatives and friends--or basically the people who you trust. Some also acquire "tsismis" via different media platforms and the Internet.

Llevares concluded that while many Filipinos see rumors as "opinionated, malicious, and unconfirmed," some still believe that there's truth in "tsismis." That's why some no longer try to verify the information that has been relayed to them. 

If this goes on, "tsismis" may ruin one's relationships, as well as dreams and life goals. Take, for example, when you're thinking of purchasing a life insurance policy, and a friend tells you it's a scam based on hearsay. 


You come across an insurance offer at your workplace. The financial adviser clearly explained why you should get insurance, and you agree with his reasons why a policy would benefit you.

In your mind, you already decided which insurance policy best suits your lifestyle, needs, and budget. You asked for the financial adviser's contact number and were ready to give him a call the next morning. 

But the moment you walked out of the office, you met an old friend who thinks insurance policies are scams, despite never having spoken to a financial adviser. 

Just like that, you had a change of heart and threw away the financial adviser's number. 


"Tsismis" can ruin life goals. But how do you know that a piece of information is unverified hearsay? Make sure that you are talking to an expert, or your source is solid.

Meanwhile, here are some of the most common myths about life insurance you should be wary of:

1. I'm single, and I don't need it. 

You may be single and have no plan to start your own family soon, but it does not mean that you are free from liabilities. If something happens to you and you are not insured, you or your family might need to shell out more money than if you had a policy to back you up.

2. My parents have money, so no thanks. 

Even if your family has enough money to shoulder your needs, insurance is necessary because nobody's resources are infinite. A policy is perfect as backup in case of emergencies, especially in situations where your family cannot immediately pull sheaf of cash out of their wallets.

Insurance can help people anticipate and prepare for life's unexpected tragedies, such as calamities, accidents, and deaths.

3. I'm better off keeping my money in the bank. 

Having disposable cash has many advantages, but it also makes you prone to unplanned expenses. Keeping your money in the bank gives you the power to withdraw it anytime you want, but you're not allowing your hard-earned cash to reach its full potential. 

Life insurance companies can invest your money in different ways, allowing it to grow. Depending on the insurance policy you're taking, you can also avail of an array of benefits--accidental death, disability, and critical illness benefits--when you entrust your money to an insurance company.

4. Insurance is not an investment. 

Some companies have different policies for insurance and investment. In 2002, British life insurer Pru Life UK pioneered insuravest – or investment-linked life insurance – to allow you to get both insurance and investment in one policy to give you protection, which you will surely need when unexpected life events strike, while making your money grow.

With Pru Life UK’s insuravest, you can dictate where to invest portions of your premiums from the life insurer’s extensive fund portfolio, managed by Eastspring Investments (Singapore) Ltd. – a subsidiary of one of Asian’s leading retail asset managers, Eastspring Investments.

Pru Life UK also offers an insurance bundle that allows you to invest in your health and wellness by identifying possible health risks through your DNA. 

Combining insuravest and health management solutions in one product, the myDNA Pro Bundle is designed to help customers identify and reduce the '3 highs' of health risks, such as type-2 diabetes, high blood pressure, and high cholesterol, through comprehensive DNA and nutrigenomics reports carried out by Prenetics Limited in Hong Kong. 

It also comes with a dedicated myDNA Pro mobile app featuring guidance from a personal health coach and a unique 16-week Lifestyle Intervention Program to help achieve a healthier lifestyle.

An insurance policy offers an array of benefits by giving you a peace of mind as you go through life's challenges. For more details about Pru Life UK’s insuravest products, click here.

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